Proposing an Effective Business Model for the Insurance Industry Sector

Business models, as mechanisms for describing the design or architectural processes of value creation, delivery, or capture, have been comprehensively discussed in the literature. Conversely, the concept of Business Model Innovation (BMI) is regarded as a source of innovation in business models for their enhancement and refinement. The impact of the insurance industry on the macroeconomy of countries is undeniable. For economic transformation and development, and to facilitate citizen engagement and self-reliance, undoubtedly, security must be established; judicial, social, legal, economic, etc. There is no doubt that the insurance industry can provide the most important form of security, namely economic security, thus offering a suitable foundation for the economic activities of the populace. Given the significance of the insurance industry, this research presents an effective business model in the insurance industry sector of the country. The concept of a business model has gained importance for organizational success in a competitive world and also for attaining a global standing in the field of entrepreneurship.The present article addresses the proposal of an effective business model for insurance industry businesses in Iran. This study employs the Repertory Grid Technique based on the Personal Construct Theory of American psychologist George Kelly to identify influential variables. The statistical population of this research consists of experts in the field of insurance industry businesses in the country. From this population, samples were selected through theoretical sampling until theoretical saturation was achieved. Initially, using ۱۵ semi-structured interviews with entrepreneurs in insurance industry businesses and extracting ۲۰۰ primary constructs from their cognitive understanding of an effective business model, ۳۱ secondary constructs were obtained with the aid of content analysis method. In the second phase, expert opinions were collected using a questionnaire tool to systematize the constructs of an effective business model. The theoretical contribution of this research articulates a framework of an effective business model in the insurance industry sector utilizing the Repertory Grid Technique. This framework can be beneficial for entrepreneurs starting and developing a business and can be used to understand the effective business model in future research.

کلیدواژه ها:

: Business Model Innovation ، Insurance Industry ، Repertory Grid Technique