STRATEGIC PARTNERSHIPS AND PERFORMANCE OF PRIVATE HEALTH INSURANCE SECTOR IN KENYA
Abstract
Purpose: The purpose of the study was to establish role of strategic partnerships on performance of private health insurance sector in Kenya.
Methodology: A descriptive survey design was adopted in the study where respondents were drawn from five departments, namely sales, strategy, finance, operations and customer service departments in the 19 private insurance companies where data was collected from a sample of 308 out of the 380 that were targeted. The data was analyzed and both descriptive and inferential results obtained and interpreted.
Results: The study found out that strategic partnerships had positive but insignificant predictive power on performance.
Conclusion: Firms that make use of strategic partnerships can be able to sustain it with long term ripple effects.
Unique contribution to policy and practice: The study recommends that firms should establish partnerships with other firms to improve cost-effective resource outsourcing, thereby boosting profitability. Additionally, it suggests adopting strategic partnerships to facilitate new market penetration and expedited growth through resource pooling.
Keywords: Strategic partnership, performance, private health insurance
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