Faculty of Commerce, Law and Management (ETDs)
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Item Promotion of inclusive insurance by a South African InsurTech company(University of the Witwatersrand, Johannesburg, 2024) Nhlapo, Zanele Cynthia; Totowa, JacquesThis study examines the strategies an insurance technology company deployed to promoteinclusivity within the insurance sector across its operational markets in South Africa,Uganda, Ghana, Zambia, Côte d’Ivoire, and Cameroon. This research focuses on the SouthAfrican market within the context of a multinational corporation. The name of the companyunder study is concealed for ethical reasons. Employing qualitative research, this studyexplores how an insurance technology company utilises digital technologies to offer easilyaccessible and unique insurance products such as prepaid hospital, funeral and life cover.The company focuses on aiding underserved communities and promoting financial inclusionand sustainable development. Despite a generally low insurance penetration in Africa andthe slow uptake of technological innovations among established insurers. This specificinsurance technology company stands out as a pioneer in embracing digital solutions to meetinsurance needs. The research identifies barriers to insurance adoption, analyses the use ofdigital technology in enhancing accessibility, and evaluates the company's strategies forimproving affordability and customer satisfaction. The study finds that an insurancetechnology company's innovative approaches, such as mobile technology utilisation andstrategic partnerships, have significantly increased insurance coverage and provided a safetynet for vulnerable populations, which has implications for the scalability of similar modelsin comparable markets. The research contributes to the academic discourse on insuranceinclusion, highlighting the role of InsurTech in achieving Sustainable Development Goalsset by the United Nations and providing recommendations for further enhancing the reachand impact of insurance technology initiatives. As such, the study takes its place among otherstudies in the disciplines of business leadership and managementItem The adoption of Insurance Technology solutions by customers in South Africa(University of the Witwatersrand, Johannesburg, 2023) Sibanda, Gift Sipho; Sethibe, TebogoThis research study investigated factors driving customer adoption of Insurance Technology solutions or InsurTech in the insurance industry and what insurers should do to ensure positive acceptance of Insurance Technology by customers in South Africa. The research used the Unified Theory of Acceptance and Use of Technology (UTAUT) model. This study is essential as incumbent insurance and InsurTech companies have been investing in Insurance Technology solutions to offer affordable insurance solutions at lower operating costs; however, adoption of these technologies by customers remained low. The study used a quantitative methodology and an online questionnaire with 37 questions following the UTAUT model to collect data. This research study focussed on insurance and non-insurance customers in South Africa. A broker and an InsurTech company distributed the survey amongst insurance clients. The respondents were also derived from LinkedIn and the referrals by the network of the researchers. A total of 213 respondents attempted the online survey, although some still needed to complete the entire survey, which led to differing totals against different constructs. In addition, the construct scores were calculated for items with a missing value of less than 50% of the inferential statistics. As a result of the missing values, the sums for the various structures varied. According to the research study's findings, consumers' behavioural intention to utilize Insurance Technology solutions is significantly predicted by two main variables: performance expectancy and effort expectancy. Furthermore, general awareness and understanding, attitude, and trust where highlighted as important predictors. The study's findings highlighted several factors that prevent insurance technology adoption, including a lack of product and technology information, mobile data, internet security, and awareness. The study also found that easily accessible information, accessible technology, and ease-of-use were enablers of Insurance Technology 3 solutions adoption by customers. The study provides more insights into what insurance companies need to focus on to increase customers' adoption and use of Insurance Technology solutions. The study contributes to the body of knowledge and future studies on factors influencing the adoption of customers' adoption of Insurance Technology solutionsItem Investigating the factors that affect the willingness to adopt peer-to-peer short-term insurers in South Africa(University of the Witwatersrand, Johannesburg, 2023) Dörfling, DanielThis quantitative study aims to identify the propensity for clients (both legal and natural persons) to adopt peer-to-peer short-term policies as opposed to traditional, centralised short-term insurance policies