INSURANCE: THE KEY PLAYER OF MANUFACTURING COMPANIES PERFORMANCE

Abstract

The overall objective of this study is to investigate insurance as the key player of manufacturing companies' performance. To achieve this objective, data was gathered about risk factors within the manufacturing premises; customers risk exposure, risk transfer from manufacturing companies, risk transfer to insurance companies, growth of the manufacturing company, and adequate insurance
cover. A total of 200 respondents were selected for the purpose of the study using stratified sampling method. The Pearson Product Moment Correlation and Regression Analysis were used to test the hypothesis. Both qualitative and quantitative analysis approaches were used in data analysis, thus reflecting the mixed model research design approach followed in the analysis. It is recommended that to be successful in the long-term, manufacturing companies need to think beyond what is affecting them today to what is going to happen
tomorrow. This is not just about addressing changes, but also taking into account alterations in social, environmental and governance issues which can be handled by insurance.