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Assessing technological capability, as a competitive advantage in the Nigerian insurance industry

Author

Listed:
  • Abdul Hameed Adeolazoopla Sulaimon
  • Sunday Abayomi Adebisi
  • Joyce M. Odiachi

Abstract

The insurance landscape is being transformed by innovations and emerging technologies which has raised opportunities for the upscale of business process and upset the traditional insurance model. This study examined the association between technological capability and competitive advantage in the Nigerian insurance industry. Specifically, the influence of innovation, skills and investment capabilities on competitive advantage. Employing a cross-sectional research design, a questionnaire was administered to the study population consisting of employees of selected renowned insurance companies. Regression analysis was employed to test the study hypotheses. The findings revealed that all variables jointly had significant influence on competitive advantage. Individually, innovation and skills had significant influence on competitive advantage, while investment had no significant relationship. The study concluded that technological capability played an important role in the insurance industry. Therefore, it is recommended that companies be aware of industry innovations and implement mechanisms that will help upscale their businesses. The study also proposed a transformation of the claims process and a mobile app that can be employed to improve the claim process.

Suggested Citation

  • Abdul Hameed Adeolazoopla Sulaimon & Sunday Abayomi Adebisi & Joyce M. Odiachi, 2020. "Assessing technological capability, as a competitive advantage in the Nigerian insurance industry," International Journal of Management Concepts and Philosophy, Inderscience Enterprises Ltd, vol. 13(3), pages 217-235.
    • Handle: RePEc:ids:ijmcph:v:13:y:2020:i:3:p:217-235
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