A Dissertation Submitted in Partial Fulfillment of the Requirements for Award of
the Degree of Master of Business Administration in cooperate management of the
Mzumbe University
The study examined the factors influencing the growth Life of Insurance business: a case
of Jubilee Insurance. The study was focused on three specific objectives which were to find out the influence of employees characteristics on growth of life insurance business,
find out the influence of customer characteristics in growth of Life Insurance Business,
and discover the influence of business (distribution) strategies on the growth of life
insurance business. In this study the sample were employees of Jubilee insurance as well
as clients of life insurance services. The study involved a sample size of 50 respondents.
The researcher used purposive random sampling technique in obtaining employees or staff
of jubilee insurance and simple random technique was used to randomly pick customers
of jubilee life insurance at the offices and representative sales. . The study employed both
qualitative and quantitative approaches. The findings to this study revealed that, customer
characteristics had an influence in business growth since it was identified that clients with
higher incomes prefer to purchase life insurance services than individuals with low
incomes. With regard to occupation many respondents were identified to be working in
the private sector like bankers, NGO’s and entrepreneurs. With regard to distribution
strategies it was discovered that agents and social media are significant methods used by
jubilee life insurance to keep customers informed and acquire clients. With regards to
employee characteristics it was discovered that employees had good personalities such as
confidence, need for achievement which is a common character in most private
institutions intending to grow. The study then concluded that jubilee life insurance should
focus more on customers in the private sector since they are more inclined to purchase life
insurance products than public sector employees.