Presenting a Competitiveness Model for Insurance Companies Facing Economic Crises

The aim of this research is to present a competitiveness model for insurance companies facing economic crises. To achieve this objective, a qualitative approach utilizing the grounded theory strategy was employed. Data were collected through semi-structured interviews with 15 top-tier experts in the insurance industry, insurance policy-making, and risk management. Purposive sampling was used, and data collection continued until theoretical saturation was reached. Data analysis was conducted in three stages—open, axial, and selective coding—resulting in the extraction of 57 initial codes; following refinement, these were classified into 21 axial categories and 6 main categories. The research's paradigmatic model is structured around the following components: causal factors (macroeconomic volatility, structural market changes, and information crises); the core phenomenon (competitive strategies during economic crises); contextual factors (digital infrastructure, human capital, organizational culture, legal frameworks, and strategic resources); intervening factors (crisis severity, direct competitor responses, financial constraints, political-legal variables, and consumer behavior); strategies (transformation in risk assessment, operational optimization, strategic knowledge management, and shifts in competitive models); and consequences (organizational sustainability, market position, and operational efficiency). The validity of the findings was confirmed through expert review and member checking. The findings indicate that sustainable competitiveness during crises requires a combination of short-term responses (crisis management) and long-term reinvention (redefining the competitive model). The proposed model can serve as a conceptual framework for insurance industry managers and policymakers to design effective competitive strategies for crisis situations.