Title: Using sustainability as a way to shape insurance industry: development of conceptual framework

Authors: Nikhil Dogra; Mohd Adil; Asad Ullah

Addresses: Department of Management Studies, NIT Hamirpur-HP, India ' Department of Management Studies, NIT Hamirpur-HP, India ' Department of Management Studies, Middle East College, Muscat, Oman

Abstract: The purpose of this study is to propose a holistic framework for sustainable insurance. We identified the key indicators that affect insurance sustainability followed by an investigation into the contextual relationships among them. Based on an in-depth review of literature and ranking by 93 experts, a total of nine key indicators of sustainable insurance were identified. Then, modified total interpretive structural modelling (m-TISM) was employed to investigate the inter-relationships amongst the identified sustainability indicators. The findings indicate that environmental concern and social sustainability are the key indicators with high driving power. This study is novel in its approach as it offers valuable insights for academicians and practitioners by proposing a holistic framework of sustainability.

Keywords: insurance industry; sustainability indicators; modified total interpretive structural modelling; m-TISM; environmental concern; MICMAC.

DOI: 10.1504/IJPQM.2023.135884

International Journal of Productivity and Quality Management, 2023 Vol.40 No.4, pp.550 - 571

Received: 16 Dec 2021
Accepted: 08 Feb 2022
Published online: 09 Jan 2024 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article