Growth Strategies and Market Share of Private Health Insurance Companies in Kenya

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dc.contributor.authorIkutwa, Nixon Shigoli GEM
dc.date.accessioned2024-07-17T12:51:21Z
dc.date.available2024-07-17T12:51:21Z
dc.date.issued2023-10
dc.descriptionMASTER OF BUSINESS ADMINISTRATION in Strategic Management and Marketing
dc.description.abstractPrivate health insurance contributes 0.41% to Kenya’s Gross Domestic Product (GDP) and 0.003% to global insurance market that is controlled by US with 43.6% market share. This is despite health insurance gaining popularity over the years due to increased burden of out-of-pocket expenses for medical costs forcing most people to seek a form of insurance due to increasing health concerns. The study purpose was to establish the effect of growth strategies on market share of private health insurance companies in Kenya. The objectives of the study were to identify the growth strategies applied by private health insurance organisations in Kenya, to examine the market share of private health insurance companies in Kenya and to establish effect of growth strategies on market share of private health insurers in Kenya. The theories underpinning this study were Ansoff’s Growth Model, The Added-Value Theory of Business, Push Pull Theory, and The Law of Effect Theory. Descriptive research design was employed and primary data collected using semi-structured questionnaires. A pre-test was done on 9 respondents that showed a link between growth strategies and market share (over 78%). Stratified random sampling technique was used on 126 managers out of a target population of 348 approved managers. The response rate was 71.4% (90 respondents). The sample size was determined vide Cochran’s Formula. To analyse and quantify the magnitude of the relationship between growth strategies and market share, correlation analysis was run on the data. Pearson Product Moment Correlation coefficient showed there was positive and significant relationship between growth strategies (market penetration (r=0.836, p<0.01), product development (r=0.501, p<0.01), market development (r=0.656, p<0.01) and Product diversification strategies (r=0.718, p<0.01) had a significant and positive relationship with market share. An increase in growth strategies (mean score of 3.73) would see an increase in market share of private health insurers in Kenya. Adoption of growth strategies to increase market share is therefore recommended.
dc.description.sponsorshipSchool of Business and Economics of Daystar University
dc.identifier.citationIkutwa, N. S. G., (2023). Growth Strategies and Market Share of Private Health Insurance Companies in Kenya: Daystar University, School of Business & Economics
dc.identifier.urihttps://repository.daystar.ac.ke/handle/123456789/4740
dc.language.isoen
dc.publisherDaystar University, School of Business & Economics
dc.subjectGrowth Strategies
dc.subjectMarket Share
dc.subjectPrivate Health Insurance Companies
dc.titleGrowth Strategies and Market Share of Private Health Insurance Companies in Kenya
dc.typeThesis

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