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Factors affecting the performance of

insurance companies in Kenya: a case of


insurance companies offering cover to public
service vehicles in Meru County
Kinyua, Kenneth Njeru
URI: http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/7358
Date: 2012

Abstract:
There is widespread customer dissatisfaction in the insurance industry, stemming from the
collapse of PSV insurance companies. This is why the customers have started forming their own
insurance companies, for example INVESCO Assurance Company formed by the Matatu
Owners Association. Therefore, there is a need for further research to improve the industry
performance. This research proposal examined the factors affecting the performance of insurance
companies in Meru County. The study intended to help insurance companies and shareholders to
come up with good profitable insurance companies. This will be also a remedy to prevent
collapse of more insurance companies not forgetting that insurance contribute greatly to the
economy. The researcher adopted a correlation research design to collect data from a population
in order to determine the current status of five variables namely: training of staff, fraudulent
claims, the motor vehicle accidents, procedures in claims management (independent variables)
performance of insurance companies (dependent variable). The study used simple random
sampling where judgment was guided by the purpose of the study to obtain relevant data. The
study used questionnaires and interviews where data analysis mvo\ved reducing accumulated
data to manageable sizes and applying statistical techniques .. The data was analyzed both
qualitatively and quantitatively.