Title: How to identify and prioritise factors affecting the designing of innovative strategies in insurance industry based on the blue ocean approach by FDAHP and SEM

Authors: Mohammad Hossein Khasmafkan Nezam

Addresses: Hashtbehesht University, Isfahan, Isfahan Province, Iran

Abstract: This study aims to identify and rank the factors affecting the designing of an innovative strategy based on blue ocean strategy approach. Therefore, the Iranian insurance industry has been selected as a statistical population. One hundred fifty employees including managers of the branches and the province, experts, representatives, senior experts and staff managers were considered as a statistical sample. In the first step, the criteria and sub-criteria were determined by the fuzzy Delphi (FD) method. Finally, the criteria were prioritised by fuzzy analytic hierarchy process (FAHP). For data analysis, one sample t-test and variance analysis were used; to assess the fit of the proposed model from the criteria, structural equation modelling (SEM) was used. The analysis showed that service quality criterion is the highest priority, and in the next ranks, interaction quality and communication, price, brand, creation, physical evidence, internet service, and comfort and welfare are located.

Keywords: innovation; innovation strategy; blue ocean strategy; value innovation; insurance industry.

DOI: 10.1504/IJBIR.2019.103319

International Journal of Business Innovation and Research, 2019 Vol.20 No.4, pp.431 - 464

Received: 16 Dec 2017
Accepted: 26 May 2018

Published online: 04 Nov 2019 *

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