Shahed University

Identifying and Prioritizing the criteria for evaluating Entrepreneurial Opportunities in the Insurance Industry (Case Study: Parsian Insurance Company)

Saeed Safari | seyedeh marzieh reshidifard | Amin Habibirad

Date :  2021/06/21
Publish in :    پژوهشنامه بيمه- صنعت بيمه سابق

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Keywords :Insurance Industry, Entrepreneurial Opportunity, Opportunity Evaluation Criteria, Best Worst Method

Abstract :
Objective: The Services of insurance companies is one of the most important and effective activities in the economic development of the countries and achieving a competitive advantage in this industry requires innovation and entrepreneurship. Opportunity identification is the essence and starting point of entrepreneurship. Opportunity evaluation is an essential element in the entrepreneurial process that facilitates the relationship between discovery and exploitation. The purpose of this study is identifying and prioritizing the criteria for evaluating entrepreneurial opportunities in the insurance industry. Method: This quantitative research is applied in terms of purpose and descriptive-survey in terms of methodology. First, the criteria for evaluating the opportunity extracted from the research background were screened by survey of experts using a researcher-made questionnaire and the analyzed by mean test and SPSS software. Then, the weight of the criteria was determined using the best worst questionnaire and Lingo software. The first statistical population was 31 university professors and insurance industry experts and the second statistical population was 8 Parsian insurance managers. The validity of the questionnaires was assessed with the opinions of university professors and industry experts. The reliability of the first questionnaire was confirmed with Cronbachs alpha of 0.841 and the second questionnaire with an incompatibility rate of 0.0274. Findings: The most important criteria for evaluating entrepreneurial opportunities in the insurance industry are project resources, amount of resource investment, market needs, profit margin, level of competition, desirability and attractiveness of the opportunity, other potential opportunities and few barriers for entry. Conclusion: Insurance companies can make the right decisions about how to take advantage of opportunities by emphasizing the criteria identified in this study, in order to gain a competitive advantage which leads to the growth and development of the countrys economy.