Faculty of Commerce, Law and Management (ETDs)

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    Critical success factors for strategy implementation within the South Africa short-term insurance sector
    (University of the Witwatersrand, Johannesburg, 2023) Moloisane, Obakeng Mohanoe; Rangasamy, Logan
    The objective of this research is to determine a common set of considerations that underpin strategy implementation in the short-term insurance sector in South Africa. This paper will seek to analyse the factors which influence the successful implementation of strategy against the backdrop of these common considerations. This paper is split up into 5 chapters, with Chapter 1 providing a background to the study, context to the research question and highlighting the significance of the study. Chapter 2 consists of a literature review of all of the leading scholars on strategy implementation, highlighting the key conceptions of strategy implementation contained in the literature to date. Chapter 3 provides an explanation of the research methodology applied to the study, while Chapter 4 sets out the key findings drawn from the research conducted on the defined research population. Finally, Chapter 5 sets out an explanation of the key findings contained in Chapter 4, and concludes this paper by providing recommendations and areas for potential future research in the subject area
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    The Impact of the Metaverse on the South African Insurance Industry
    (University of the Witwatersrand, Johannesburg, 2023) Mia, Rashad; Quaye, Emmanuel
    The internet is evolving, where virtual reality and artificial intelligence converge to create a more immersive online experience. This revolutionised digital space will allow users to interact and transact virtually with more users more efficiently. This will impact the way we live, work, and socialise. Despite multiple articles discussing the metaverse and its relational impact on the insurance industry, this research paper aims to understand the metaverse from different South African perspectives, and through virtual one on one interviews; participants were interviewed to unpack further potential risks and benefits of the metaverse on the South African consumer. This also led to perspectives on the potential insurance landscape within virtual worlds and the type of products and services that could stem from. The thematic analysis of the insurance landscape in the metaverse provided insights into emerging trends and opportunities in the space that covered themes such as virtual property insurance, cyber insurance, digital identity, reputational insurance, and personalised insurance products that could be developed to tailor individual needs. In terms of risks and benefits, the data and information highlighted themes that touched on addiction, privacy and security, social isolation as well as financial risks. On the other hand, the benefits mentioned were enhanced social experiences, access to new experiences as well as professional opportunities. The research of this paper intends to provide a localised viewpoint of insurance in South Africa and how such a highly regulated industry will pivot, if at all, towards the inevitability of the metaverse.
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    Factors influencing robotic process automation adoption in the South African insurance industry
    (University of the Witwatersrand, Johannesburg, 2023) Kunene, Namdipha; Lee, Gregory
    Robotic process automation (RPA) is fast becoming a key instrument in the digital transformation journey of the insurance market. This software technology presents a wide range of benefits to an insurance organisation, from driving operational efficiencies to improving customer experience. However, despite the vast use cases of RPA evidenced in the global insurance market, the South African insurance industry has proven to be a laggard in adopting RPA. In understanding the slow uptake of RPA by SA insurers, it was important to gain insights on RPA adoption from the perspective of RPA vendors as well as South African insurance professionals. A qualitative exploratory study was conducted to investigate the antecedents and factors influencing RPA adoption within the South African insurance industry. This study is based on the exploration of multiple ICT adoption frameworks existing in literature, such as user acceptance models used at an individual level and diffusion theories used at an organisational level adoption. A conceptual framework integrating the technology-organisation-environment (TOE) framework, diffusion of innovation (DOI) and technology acceptance model (TAM) was created and used to identify the factors. The empirical findings of this study were based on twelve (12) semi-structured interviews conducted with senior managers within the insurance industry and in the RPA vendor space. The study reveals that relative advantage, complexity, compatibility, management support, competition pressures and vendor support were perceived to have a positive influence on the acceptance and adoption of RPA. The study also suggests that strategy and government regulations have a non-significant influence on the adoption of RPA, whereas skills in the organisational context were perceived as a negative influence. Interestingly, two new factors emerged from the thematic analysis conducted: while perceived costs were viewed as a negative influence, change management was perceived as a significantly positive influence on the adoption of RPA within the SA insurance industry. The study provides recommendations to leaders to ensure a seamless RPA adoption process.
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    Robotics process automation implementation in a large South African insurer
    (University of the Witwatersrand, Johannesburg, 2023) Sader, Mohamed; Sony, Michael
    Objective This report examines the direct and indirect impacts of robotic process automation (RPA) at Insurer X, a South African insurance company. The study will synthesize the results and key learnings into a roadmap for the successful implementation of RPA in other South African organizations and industries. The study also aims to contribute to the RPA body of knowledge and provides a platform for other researchers to build on. The study followed an inductive thematic approach to data analysis. Methodology This report is a qualitative case study design where the primary data collection method is semi-structured in-depth virtual interviews. Participants (Insurer X employees and an industry expert) were selected using a combination of purposive and convenience sampling to ensure knowledge of RPA and involvement in the project at Insurer X. This also ensured gender and role diversity and rich industry and RPA experience. Results and conclusion Nine participants were interviewed. The results indicate that RPA, directly and indirectly, benefited Insurer X across multiple areas, and these impacts are significant and, to a large extent, known; however, the indirect impact is unmeasured and not attributed to RPA. Twelve themes emerged when investigating critical success factors, learnings, and noteworthy barriers. These themes are synthesized into a roadmap for successful implementation. Implications for theory and practice The findings establish that significant direct benefits are achievable for insurance organizations wanting to pursue RPA in South Africa. There are also indirect benefits associated with RPA that can be measured if organisations are more deliberate upfront. There are key factors, learnings, and barriers that, if iii appropriately navigated from the start can increase the likelihood of success and the benefits achieved