Open AccessTHE NIGERIAN INSURANCE INDUSTRY COMPETITIVE ADVANTAGE: THE ROLE OF INNOVATION CAPABILITY
Author(s) -
Sunday Abayomi Adebisi,
Joyce M. Odiachi,
A.A. Sulaimon
Publication year - 2021
Publication title -
facta universitatis. series: economics and organization
Language(s) - English
Resource type - Journals
eISSN - 2406-050X
pISSN - 0354-4699
DOI - 10.22190/fueo201211005a
Subject(s) - competitive advantage , business , insurance industry , regression analysis , industrial organization , marketing , actuarial science , computer science , machine learning
Emerging technologies have given rise to greater opportunities within the insurance sector with innovations upturning the traditional business model. This study examined competitive advantage and the relationship with innovation capability in Nigerian insurance sector. Employing a cross sectional research design, the study utilised primary data obtained from selected insurance companies through the use of a structured questionnaire. Multistage sampling technique was used and data collected was analysed using regression analysis. The findings revealed innovation capability had a significant influence on competitive advantage. The study concluded that there was a need to pay attention to this capability with a capacity to boost the activities of the industry and recommendations were made.