Abstract:
The insurance industry is one of the major contributors in the financial sector and the economy in South Africa. However many industry experts have highlighted that the insurance industry is facing many challenges. One of the many challenges is that customers have more options these nowadays and their expectations are forever changing. And with fierce competition from Insure Tech companies, traditional insurance companies have to ensure that they keep their existing customers satisfied. Satisfied customers become brand ambassadors that attract new customers. This will make sure that insurance companies are able to keep their market share and remain profitable. The aim of this study is to get an in-depth understanding the influence of Business Process Management on customer satisfaction in the South African insurance industry. Using a qualitative, exploratory multi-case study that included 14 semi-structured interviews with the South African insurance industry practitioners and experts, the study was able to provide insights of how South African Insurers utilise BPM to attain higher levels of customer satisfaction.
