Online ISSN: 2520-4521 | Print ISSN: 2522-6606
Volume 2 Number 9 September 2018
Operations Management Practices and Operational Performance of Insurance Brokers in Nairobi City, KenyaPages: 70-83
Authors: Danson Gilbert Maina Nduyu, Peterson Obara Magutu
This research study aimed at establishing the link between the Operation Management Practices (OMP) and operational performance of insurance brokers in Nairobi City. In particular the specific objectives were: i) Determine the extent of the application of the operations management practices by the insurance brokers in Nairobi, ii) Identify the challenges faced by the insurance brokers in Nairobi applying Operations Management Practices and iii) Establish the relationship operations management practices and operational Performance in insurance brokerage business. The operation management practices contributes immensely on how the firm competes through product and service design, production cost, response time inventory management and supply chain management. An exploratory design was used to identify the extent to which insurance brokers apply OMP and to investigate which OMP are adopted as well to establish the impact of these OMP on the performance of the insurance brokers. The study targeted a population of 53 insurance brokers in Nairobi City and a census was carried out as the population was small to be sampled. The study used questionnaires to collected the necessary data and a total of 45 questionnaires were validly filled and used for the analysis. This was a response rate of 85% which way above the required threshold of 60% by most researchers. The managers surveyed had a minimum of undergraduate degree with 80% and experience of 5 years of 78% within the insurance brokerage firm.