Journal of Entrepreneurship and Innovation Research

Journal of Entrepreneurship and Innovation Research

Identifying and prioritizing the challenges of open innovation in the insurance industry

Document Type : Original Article

Authors
farshid aslani 1
Roohollah Taghizadeh Saghalaksari 2
1 Department of Public Management, Payam Noor University, Tehran,Iran.
2 M.A., Department of Public Management, Payame Noor University, Shahin Shahr, Iran.
10.22034/eir.2024.471629.1088
Abstract
Aim: The insurance industry is one that is significantly influenced by open innovation and seeks to create a competitive advantage through its application. This study aimed to identify and prioritize the challenges of open innovation in the insurance industry.

Method: This study is applied in terms of purpose and descriptive-survey in terms of method. The statistical population included all specialists and managers of Kosar Insurance, with a purposive sample of 30 individuals selected. Based on the theoretical foundations in this field, four criteria were identified: customer-related challenges, employee-related challenges, organizational challenges, and environmental challenges. Subsequently, to finalize the screening of indicators, a Delphi questionnaire was used to survey insurance experts, identifying 15 components to define the open innovation challenges in the insurance industry. The reliability of the questionnaire was confirmed through the inconsistency rate. For the prioritization of criteria, the Analytical Hierarchy Process (AHP) technique was employed.

Findings: The results of the main criteria comparison showed that, based on the obtained eigenvector, environmental challenges have the highest priority, followed by organizational challenges, employee-related challenges, and customer-related challenges. Additionally, the final ranking results indicated that technology infrastructure sub-criteria ranked first.

Conclusion: Information and communication technology has positive impacts on all industries, and in the insurance industry, it contributes to reducing the time for issuing insurance policies and timely claim payments, thus increasing insurance penetration rates. Therefore, identifying challenges in the insurance industry leads to superior performance and survival in a competitive environment.
Keywords
Customer
Open innovation
Technology
Kosar insurance

Subjects

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