Identifying effective factors in implementing e-insurance and its impact on competitive advantage and profitability in selected insurance companies

Document Type : Technology

Authors

1 Department of Management, Faculty of administrative sciences and economics, University of Isfahan, Isfahan, Iran

2 Department of management, Faculty of administrative sciences and economics, University of Isfahan, Isfahan, Iran

3 Department of Management University of Isfahan

Abstract

E-insurance is a new approach based on information technology, which its implementation can have a significant impact on the performance of insurance organizations. The purpose of this study was to investigate the factors affecting the implementation of e-insurance and its impact on competitive advantage and profitability at the customer (B2C) level. First, by reviewing the research literature, various factors affecting the implementation and implementation of electronic insurance at the customer level have been investigated. The data collection tool was a researcher-made questionnaire. The statistical population of this study was the employees of selected insurance companies, which was determined 320 individuals by the method of structural equations, and SPSS and PLS statistical software were used to analyze the data. Based on the results of the research hypotheses, the impact of all factors considered at the customer level like data quality, ease of use, perceived value, e-security and reliability on electronic insurance was confirmed. Electronic insurance implementation also has a positive and significant effect on competitive advantage and profitability. Based on the findings, the final model for the successful implementation of electronic insurance in the insurance industry, provides a valuable perspective for researchers and insurance companies on implementation e-insurance and its benefit.

Keywords

Main Subjects


Abu-Salim, T., Onyia, O., Harrison, T. &
Lindsay, V. (2017). Effects of
perceived cost, service quality, and
customer satisfaction on health
insurance service continuance,
Journal of Financial Services
Marketing, 22(4) 173-186.
Al-Husban, M., Al-Husban, A., & Yaseen, H.
(2018). Facilitating e-commerce in
Jordan: A qualitative
analysis. International Journal for
Digital Society (IJDS), 7(4), 1206-
1213.
Alikhani, A., & Bahrami, A. (2007).
Investigating the obstacles to
implementing e-insurance in the
Iranian insurance industry and
providing appropriate solutions.
Insurance journal. 22(2), 29-55. (In
Persian)
Al-Nidawi, W. J. A., Al-Wassiti, S. K. J.,
Maan, M. A., & Othman, M. (2018). A
review in E-government service
quality measurement. Indonesian
Journal of Electrical Engineering
and Computer Science, 10(3), 1257-
1265.
Alshubaily, N. F., & Altameem, A. A. (2017).
The Role of Strategic Information
Systems (SIS) in Supporting and
Achieving the Competitive
Advantages (CA): An Empirical
Study on Saudi Banking
Sector. International Journal of
Advanced Computer. Sciencce
Apllocations, 8(7), 128-139.
Barnes, S. J., & Vidgen, R. T. (2002). An
integrative approach to the
assessment of e-commerce
quality. Journal Electronic
Commerce Research, 3(3), 114-127.
Barrett, M., Davidson, E., Prabhu, J., &
Vargo, SL. (2015) Service innovation
in the digital age. MIS Quarterly.
39(1), 135-54.
Bernardo, M., Marimon, F., & Del Mar
Alonso-Almeida, M. (2012).
Functional quality and hedonic
quality: A study of the dimensions
of e-service quality in online travel
agencies. Information &
management, 49(7-8), 342-347.
Bhattacharya, D., Umesh Gulla, M. &
Gupta, P. (2012). E-service quality
model for Indian government
portals: citizens' perspective,
Journal of Enterprise Information
Management, 25, 246 – 271.
Bressolles, G. (2006). La qualité de service
électronique: NetQu@ l Proposition
d'une échelle de mesure appliquée
aux sites marchands et effets
modérateurs. Recherche et
Applications en Marketing (French
Edition), 21(3), 19-45.
Chin, W. W. (1998). Commentary: Issues
and opinion on structural equation
modeling.
Claassen, K., & Jäger, P. (2018). Impact of
the introduction of the electronic
health insurance card on the use of
medical services by asylum seekers
in Germany. International Journal
of Environmental Research and
Public Health, 15(5), 856.
Damodaran, A. (2009). Breach of Trust:
Valuing Financial Service Firms in
the post-crisis era. Available at
SSRN 1798578.
Davis, F. D. (1989). Perceived usefulness,
perceived ease of use, and user
acceptance of information
599
دوره .14 شماره .28 پاییز و زمستان .1400 صفحات 581 تا .602
پژوهشنامه مدیریت اجرایی
Journal of Executive Management
محسن سیفی، علی صنایعی، فتح اله عقدائی، مجید محمد شفیعی، داریوش محمدی زنجیرانی. شناسایی عوامل موثر در پیادهسازی بیمه
الکترونیک و تاثیر آن بر مزیت رقابتی و سودآوری در شرکت های منتخب بیمه
technology. MIS Quarterly, 319-
340.
Eling, M., & Jia, R. (2019). Efficiency and
profitability in the global insurance
industry. Pacific-Basin Finance
Journal, 57, 101190.
Epetimehin, F.M. (2011). Achieving
Competitive Advantage in
Insurance Industry: The Impact of
Marketing Innovation and
Creativity. Journal of Emerging
Trends in Economics and
Management Sciences, 2(1), 18-21.
Ettis, S. A. & Haddad, M. M. (2019).
Utilitarian and Hedonic Customer
Benefits of e-Insurance: A Look at
the Role of Gender Differences.
International Journal of E-Business
Research, 15(1): 109–126.
Finn, A. (2011). Investigating the non-linear
effects of e-service quality
dimensions on customer
satisfaction. Journal of Retailing
and Consumer services, 18(1), 27-37.
Fornell, C., & Larcker, D. F. (1981).
Evaluating structural equation
models with unobservable variables
and measurement error. Journal of
Marketing Research, 18(1), 39-50.
Gakiria, P. N. (2019). Effect of E-Business
Strategy on Competitive Advantage
Of Safaricom Limited,
Kenya (Doctoral dissertation,
University of Nairobi).
Ganesh Sapa, S., Phunde, S. B. & Godbole,
M. R. (2014). Impacts of ICT
Application on the Insurance
Sector (E-Insurance). IBMRD's
Journal of Management and
Research, 3(1), 311-320.
Ghanbarzadeh, M., Hamzeh, A., &
Hozarmoghadam, N. (2021).
Wearable technologies and
Internet of Things in Life and
Health Insurance. Iran Health
Insurance Organization, 4(1), 2-13.
Grmanová, E., & Strunz, H. (2017).
Efficiency of insurance companies:
Application of DEA and Tobit
analyses. Journal of International
Studies, 10(3), 250-263.
Haghighi, M., Mazloomi. N. and Akhavi
Rad., SI. (2012). the impact of trust
on the use of eservices companies,
insurance policyholders. Insurance
Journal, 4, 25-50. (In Persian).
Haseeb, M., Hussain, H. I., Kot, S.,
Androniceanu, A., &
Jermsittiparsert, K. (2019). Role of
social and technological challenges
in achieving a sustainable
competitive advantage and
sustainable business performance.
Sustainability, 11(14), 3811.
Hazen, B. T., & Byrd, T. A. (2012). Toward
creating competitive advantage
with logistics information
technology. International Journal
of Physical Distribution & Logistics
Management. 42(1), 8-35.
He, F. (2009). Decision factors for the
adoption of e-finance and other ecommerce activities. Southern
Illinois University at Carbondale.
Hellgren, E., & Solar, L. (2014). Decision
Criteria: In the B2B Swedish
Insurance Industry.
Henseler, J., Ringle, C. M., & Sinkovics, R. R.
(2009). The use of partial least
squares path modeling in
international marketing. In New
challenges to international
marketing. Emerald Group
Publishing Limited.
600
دوره .14 شماره .28 پاییز و زمستان .1400 صفحات 581 تا .602
پژوهشنامه مدیریت اجرایی
Journal of Executive Management
محسن سیفی، علی صنایعی، فتح اله عقدائی، مجید محمد شفیعی، داریوش محمدی زنجیرانی. شناسایی عوامل موثر در پیادهسازی بیمه
الکترونیک و تاثیر آن بر مزیت رقابتی و سودآوری در شرکت های منتخب بیمه
Hiwarkar, T. (2013). E-Insurance: Analysis
of the collision and allegation of ecommerce on the insurance and
banking. Journal of Business
Management & Social Sciences
Research, 2(6), 457-70.
Hofstrand, D. (2009). Understanding
profitability: Ag Decision
Maker. Iowana State University, 1-
5.
Horsa, S. (2019). Factors affecting
profitability of insurance companies
in Ethiopia, A thesis submitted to
the department of accounting and
finance, Addis Ababa, Ethiopia.
Hosseini, S., & Bazaee, Q. (2021).
Investigating the Consequences of
Implementing a Centralized
Registration System for Social
Security Organization Insurers
(Case Study: Social Security
Administration West General
Office).
Huggins, R., & Izushi, H. (2015). The
Competitive Advantage of Nations:
origins and
journey. Competitiveness Review.
Hulland, J. (1999). Use of partial least
squares (PLS) in strategic
management research: A review of
four recent studies. Strategic
management journal, 20(2), 195-
204.
Järvinen, R., Salonen, J., Ahonen, A. &
Rahnasto, J. (2010). eInsurance
Project: How to Develop Novel
Electronic Services with CoOperation between Academics and
Practitioners, Journal of Cases on
Information Technology, 12(4), 31-
49.
Kamal, S. A., Shafiq, M., & Kakria, P. (2020).
Investigating acceptance of
telemedicine services through an
extended technology acceptance
model (TAM). Technology in
Society, 60, 101212.
Kebede, B. (2016). Factors Affecting
Insurance Companies Profitability
in Ethiopia (Doctoral dissertation,
St. Mary's University).
Kozak, S. (2011). Determinants of
profitability of non-life insurance
companies in Poland during
integration with the European
financial system. Electronic Journal
of Polish Agricultural
Universities, 14(1), 1-9.
Lai, W. T., & Chen, C. F. (2011). Behavioral
intentions of public transit
passengers—the roles of service
quality, perceived value,
satisfaction and
involvement. Transport
policy, 18(2), 318-325.
Lee, S. M., & Cata, T. (2005). Critical
success factors of Web-based eservice: The case of einsurance. International Journal of
E-Business Research (IJEBR), 1(3),
21-40.
Lim, J. H., Stratopoulos, T. C., & Wirjanto,
T. S. (2012). Role of IT executives in
the firm's ability to achieve
competitive advantage through IT
capability. International Journal of
Accounting Information
Systems, 13(1), 21-40.
Luo, M. M., Chea, S., & Chen, J. S. (2011).
Web-based information service
adoption: A comparison of the
motivational model and the uses
and gratifications theory. Decision
Support Systems, 51(1), 21-30.
Meshkat, L., Farkhondehnia, F., Bagheri, Z.,
Alihoseini, O., Sanayeimatak, S.,
601
دوره .14 شماره .28 پاییز و زمستان .1400 صفحات 581 تا .602
پژوهشنامه مدیریت اجرایی
Journal of Executive Management
محسن سیفی، علی صنایعی، فتح اله عقدائی، مجید محمد شفیعی، داریوش محمدی زنجیرانی. شناسایی عوامل موثر در پیادهسازی بیمه
الکترونیک و تاثیر آن بر مزیت رقابتی و سودآوری در شرکت های منتخب بیمه
Esmaeili, M. ... & Masaratbakhsh, M.
(2012). Electronic insurance and its
application in e–
commerce. Interdisciplinary
Journal of contemporary research in
business, 4(8), 640-647.
Miri Kandary, S., & Bafandeh Iman Doust,
S. (2014). Investigating Affecting
Quality of E-Insurance on Trust
and Satisfaction Customer with Lee
and Chung Model (Case Study: Iran
Insurance in Khoarsen
Razavi). International Journal of
Advanced Studies in Humanities
and Social Science, 3(3), 167-174. (In
Persian)
Mohammadi, F., Nematizadeh, S., Heydari,
A, & Safarzadeh, H. (2021). Online
Customer Experience in Health
Services: An Interpretive Structural
Modeling Approach. Iranian
Journal Health Insurance, 4 (1), 58-
67.
Mohammadnia, S., & Hassan Gholipour, T.
(2011). Identifying and examining
the factors affecting the
acceptance of electronic insurance
services by customers, the first
conference and specialized
exhibition of electronic insurance.
Tehran.
https://civilica.com/doc/118543.
Mubaraka, G. M., Momanyi, W. K. & Jibia,
M. S. (2013). Integrating ICT in
Insurance Management: Design &
Development of an Online
Insurance System for E. Africa
Insurance Company. Journal of
Information Engineering and
Applications, 3(5): 10-20.
Nunnally, J. C. (1994). Psychometric theory
3E. Tata McGraw-hill education.
Nwabueze, U., & Mileski, J. (2018).
Achieving competitive advantage
through effective communication
in a global environment. Journal of
International Studies, 11(1). 232-254.
Oshaghi, F., & Zakeri, M. (2018).
Investigating the Factors Affecting
Customer Loyalty in Electronic
Insurance Services (Case of study:
Sarmad Insurance). Business
Management. 10(37), 79-99. (In
Persian).
Parasuraman, A., Zeithaml, V. A., &
Malhotra, A. (2005). ES-QUAL: A
multiple-item scale for assessing
electronic service quality. Journal
of Service Research, 7(3), 213-233.
Parmitasari, R.D.A, Abdullah, W., Alwi, Z., &
Haris, H. (2019). A Social media
analytics capability framework for
firms competitive advantage,
Conference Proceeding. 193-207.
Paulus, A. L., & Murdapa, P. (2017). The
Utilization of Resource-Based View
Theory on Minimarket Retail: Its
Implication Toward Strategy and
Competitive Advantage. In The 1st
International Conference on
Economics, Education, Business,
and Accounting (ICEEBA, 2016).
Porter, M. E. (1980). Competitive strategy.
Techniques for analyzing industries
and competitors, New York: Free
press.
Porter, M. E. (1985). Technology and
competitive advantage. Journal of
Business Strategy. 2(3), 114-135.
Porter, M. E. (1998). Clusters and the new
economics of competition (Vol. 76,
No. 6, pp. 77-90). Boston: Harvard
Business Review.
602
دوره .14 شماره .28 پاییز و زمستان .1400 صفحات 581 تا .602
پژوهشنامه مدیریت اجرایی
Journal of Executive Management
محسن سیفی، علی صنایعی، فتح اله عقدائی، مجید محمد شفیعی، داریوش محمدی زنجیرانی. شناسایی عوامل موثر در پیادهسازی بیمه
الکترونیک و تاثیر آن بر مزیت رقابتی و سودآوری در شرکت های منتخب بیمه
Racinskaja, I.; Žalimiene, A. & Žaptorius. J.
(2013). Knowledge, Innovations and
Technologies Integration
Nurturing Electronic Insurance
Business. Innovative
Infotechnologies for Science,
Business and Education, 1(14), 15-21.
Shafiee, M.M. (2021). Competitive
advantage via intellectual capital: a
moderated mediation
analysis, Journal of Intellectual
Capital,
https://doi.org/10.1108/JIC-05-
2020-0152.
Shafiee, M. M., & Es-Haghi, S. M. S. (2017).
Mall image, shopping well-being
and mall loyalty. International
Journal of Retail & Distribution
Management. 45(10), 1114-1134.
Shafiee, M. & Maddah, M. (2017).
Identifying the Attractiveness and
Place Branding Strategies in
Exhibitions, Journal of Strategic
Management Studies, 8(30), 19-41
(In Persian).
Shafiee, M. M., & Bazargan, N. A. (2018).
Behavioral customer loyalty in
online shopping: the role of eservice quality and erecovery. Journal of Theoretical and
Applied Electronic Commerce
Research, 13(1), 26-38.
Sheng, M. L., Chang, S. Y., Teo, T., & Lin, Y.
F. (2013). Knowledge barriers,
knowledge transfer, and innovation
competitive advantage in
healthcare settings. Management
Decision. 14(3), 195-220.
Singh, N., Yadav, M., & Sahu, O. (2016).
Consumer acceptance of apparel ecommerce–Ethiopia. Intellectual
Economics, 10(1), 55-62.
Ştefea, P. (2012). Cost Control--A Tool For
Cost Management. Annals of
Eftimie Murgu University Resita,
Fascicle II, Economic Studies.
Taherdoost, H. (2018). Development of an
adoption model to assess user
acceptance of e-service
technology: E-Service Technology
Acceptance Model. Behaviour &
Information Technology, 37(2), 173-
197.
Torkestani, M. S., Sanayei, A., & Isaai, M. T.
(2014). Design of a Model for
Defining Factors Influencing
Success of E-Insurance in Iran
Insurance Industry: An Integrated
View to Technology Acceptance by
Policy Holders and Insurers' EReadiness. New Marketing
Research Journal, 4(2). 223-254.
Udo, G. J., Bagchi, K. K., & Kirs, P. J. (2010).
An assessment of customers’eservice quality perception,
satisfaction and
intention. International Journal of
Information Management, 30(6),
481-492.
Yan, T., Schulte, P., Chuen, D. (2017).
Handbook of Blockchain, Digital
Finance, and Inclusion. Elsevier
Science Publishing Co Inc.
Yang, C. & Ming L. H. (2012). Boosting firm
performance via enterprise agility
and network structure,
Management Decision, 50(6), 1022-
1044.