A Study of the Effects of Strategic Options of Delta Model on Insurance Companie's Performance

The survival of an organization in today’s competitive world requires its being examined in terms of its performance and position in the market. Insurance companies that hold an important place in a country's economy need to achieve their goals for survival. Thus, using a model to evaluate organization performance and examine its competitive position is of high importance for managers of insurance companies.
Models used to examine performance and determine competitive position of insurance companies have managed to examine various effective factors on these companies with high tendency to product aspect mostly based on balanced scorecard and/or other methods. However, approaches which tend to innovating, dealing with customers and manner of communicating with them instead of tending to the product itself are greatly missing.
Thus, the Delta Model is used in this research. The main objective of this study is to find out whether there is a meaningful relation between adopting strategic options of Delta Model in insurance industry and its performance or not.
Results obtained from analyzing the data gathered from samples that consist of top five insurance companies of Iran (Iran, Alborz, Asia, Dana, and Parsian) and their customers by Structural Equations Modeling showed that adopting strategic options of Delta Model has positive effect on organization performance and, hence, it is suggested to organizations to increase the effectiveness of their activities by aligning their measures with the requirements of taking each one of the positions of Delta Model in order to improve their performance.