Research Journal of Recent Sciences _________________________________________________ ISSN 2277-2502 Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 127 Investigating Impact of Organizational Entrepreneurship on Insurance Penetration Rate Atena Ahmadi and Gholamreza TaleghaniDepartment of Management Tehran University Faculty of, IRAN Available online at: www.isca.in , www.isca.me Received 29th January 2014, revised 7th October2014, accepted 17th May 2015Abstract Organizational entrepreneurship refers to the concept that we can provide clients with our new services and products based on their needs, only by establishing appropriate conditions in the organization. Insurance companies are known as servicing companies which encounter with a variety of clients and needs. Therefore, in order to maintain their position in competitive market, and increase their penetration among their clients, they need some innovative achievements in various fields. These innovative ideas can be performed only through establishment of an entrepreneur organization by organizational entrepreneurship strategies. In this research we applied a questionnaire as an instrument to help us investigate the impact of two organizational entrepreneurship strategies on insurance penetration rate and at the end we gather the results of analyzed data and make a conclusion. Keywords: Entrepreneurship, insurance penetration rate, organizational entrepreneur, organizational entrepreneurship strategy. IntroductionNowadays in our modern world, organizations and companies need to be up to dated or have some innovative ideas in order to be able to supply the incremental needs of societies. The extent of being up to dated and having innovative ideas varies from one organization to the other and is based on their ability of innovation and owning the power of entrepreneurship. Phenomena happening in our era can't be predicted and also you can't guarantee the future success based on them. Modern societies are moving toward to innovation and creativity, and entrepreneurship is an appropriate instrument for improving in this way. Entrepreneurship has various definitions in different fields. Some people consider it only as an instrument for employment and making jobs, while this is only one of its uses. Entrepreneurship is a procedure of recognizing a special service which can be made by a person who is so much open-minded and brave enough to take risks and finally will lead to establish a company with some new frameworks after passing various steps such as creating ideas, considering their feasibilities and developing some plans. Mr. Rezaian defines entrepreneurship as hunting for new opportunities without considering restrictions and by ignoring current risks. Others believe that entrepreneurship is an opportunity to make values and increase your capital, and some groups believe it as a new method of thinking and behaving in various social aspects of people. Various interpretations of entrepreneurship can explicitly define its important role in development of different fields. Entrepreneurship can be performed by an individual, group, organization or even a nation. Problem Definition Organizational Entrepreneurship: Organizational entrepreneurship is known as a procedure which groups of people or the whole organization perform, until all of the staff can fulfill their duty as an entrepreneur and complete innovative activities. Inspiring entrepreneurship culture in an organization may lead to provision of creativity in procedures, products, and services. The concept of organizational entrepreneurship was firstly proposed in Sweden 1970. At first, technological entrepreneurship was common, but then organizational thinking and making organizational spirit as a common element became important, and it was counted as a valuable competitive advantage. Gradually, entrepreneurship was counted as a surviving condition for organizations and by turning into twenty first century, organizational entrepreneurship became common through the world due to incremental need of companies for innovations and organizational changes. Nowadays organizational entrepreneurship is known as an imperative concept for management and is executed with the approach of concentrating on innovation, creativity, and provision of new product or service. The important feature of an organization is to have employees with inherently high incentive and entrepreneurial spirit that may lead to organizational entrepreneurship. This means that all of the organizational activities would be toward to innovation, creativity, taking Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 128 calculated risks, and being pioneer. Application of entrepreneurship is also considered from some other aspects. Individual entrepreneurship explains another aspect of it which is only related to the individual. He/she can establish an organization or institute; provide new products, services or some innovative methods after recognizing opportunities, only by being dependent on its own creativity and innovation. Individual and organizational entrepreneurship have many similarities, but the important difference is that in individual entrepreneurship you take risk on your capital and values, while in organizational entrepreneurship the risk is on the capital of the company or organization. In organizational entrepreneurship hierarchy is of no importance, and innovations and creativity is prior to hierarchy and is all that matters. Generally, organizational entrepreneurship can be accomplished through creativity and innovation of employees, non-traditional management, creating innovative atmosphere, and so many other factors. In order to surpass their competitors and not to remain in their current position, organizations need innovations in providing services and products. Entrepreneurial Strategy entrepreneurial strategy is defined as choosing rational decisions based on techniques of wise thoughts which are achieved by recognizing opportunities, sources, and more importantly the correct way of implementing methods under innovative and risk-taking management. Entrepreneurial strategy is a kind of strategy in which the management of the organization is capable of performing his ideas and thoughts. Entrepreneurial strategy is usually applied in smaller companies which have more flexibility. In bigger companies and organizations we can have such strategies provided that there would be a prominent and thoughtful individual as manager. The evident purpose of an organization which is applying this strategy is to get improved and developed, because development is the brilliant sign of success. Improvement and advancement stimulates the entrepreneur more than anything else, even more than financial aspects can do. Entrepreneurial managers believe that we should create new methods by applying innovative strategies. Due to innovation in providing services and modified or new products in markets, there would be new competitive advantages for the organization. Continuing this process, the company can sooner be pioneer in the market and play a governing role in it. Insurance Companies Traditional methods can't handle the competitive markets as before, so organizations and industries have to try to remain in the markets by creating innovative conditions and face with their competitors using entrepreneurship. Insurance industry and its allied companies are not also exempted from this situation. Insurance industry is acting as a servicing unit in our society and has the potential to develop and improve socially and economically, provided that it uses innovative and creative methods. An entrepreneurial insurance company provides innovative covers and services in the markets and surpasses its competitors through innovation in providing insurance services. The existence of such organization in the present competitive market not only can guarantee its survival, but also can improve insurance culture in the society. Therefore, insurance culture is institutionalization and thoughts of culture in the society, so if insurance could be institutionalized in social structures and behaviors, then it can be claimed that there is insurance culture in the country. By introducing and advertising new insurance products and variety in insurance markets, there would be improvement and development of insurance culture and penetration rate of different types of insurances among different levels of the society. 25 insurance companies with different occupational concentrations are active in the present time in our country and each of these companies are trying to attract clients in the competitive markets by applying modern methods. Insurance Penetration Rate Insurance penetration rate is defined as the percentage of share of insurance industry in gross domestic product (GDP) which is counted as a quantitative economic indicator. This indicator which is indicative of a ratio of production premium to the gross domestic production of a country is demonstrating the relation between the economy and the insurance industry of a country. It is also counted as an indicator of social welfare and is indicating development and advancement of insurance industry in a country.  \n  \r   \r   \n  Gross Domestic Production (GDP) is one of the economic measuring scales which include the total value of all goods and services produced in a country in a certain period like a year. In the year 2012, with $997 billion, Iran was ranked 17th of the world in terms of GPD which was higher than Australia and lower than Turkey, while Iran was ranked 18th of the world in the year 2011. It is seen that there has been not an appropriate growth because of weak culture of insurance in the society; its inclusion just in car, health, and third party insurances; non confidence of applicant to insurance companies; lack of manpower; lack of training and required skills in this industry; and some limiting provision of insurance industry in country which some part of them result from lack of the entrepreneur strategic and organizational thought. Therefore it is very important and outstanding to modify Islamic Republic of Iran Central Insurance role as a supervisor and custodian of insurer companies in line with legal tasks through Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 129 educating insurance experts in all fields, using entrepreneurs, creating and internalizing entrepreneurship culture in organizations and creating the organizational entrepreneurship strategies based on country need, and operationalizing and localizing the insurance culture According to the report of Sigma magazine which is the most authentic statistical insurance publication of the world, in the year 2008 the insurance penetration rate in Iran was 1.3%, so Iran was ranked 47 among 88 countries studied. In the year 2009, in the report of the manager of Central Insurance of Islamic Republic of Iran, this measure was 1.35%, and per capita premium was found to be 557 thousands of Rials. This rate reported by Insurance Research Center increased to 1.41% in the year 2011, and became 1.84% during the first nine months of the year 2012, while in the year 2012; Sigma magazine had made an estimation of this rate to be 1.65%. Of course this increase can't be counted due to progressive insurance industry in the country. The real reason of which was due to negative national economic growth and decrease of gross domestic production, besides the increase of third party car insurance premium which were effective in increasing this rate. According to specialized publication report, Sigma, as the most reliable statistic reference in the world insurance industry which is belong to Switzerland Reinsurance company, regard to the world classification in 2006 Norway has 32 grade with penetration rate of 4.6 percent including penetration rate of 2.8 percent in life insurance fields and penetration rate of 1.7 percent in non-life insurance fields with 3,229 dollars premium capitation. In this report first to tenth grades in insurance penetration rate are England (16.5 percent), South Africa (16 percent), Taiwan (14.5 percent), South Korea (11.1 percent), Switzerland (11percent), France (11 percent), Japan (10.5 percent), Hong Kong (10.5 percent), Ireland (10.4 percent), Netherlands (9.4 percent) of GDP, alternatively. Also mean insurance penetration rate in Northern America, Latin America and Caraeib, Europe, Asia, and Oceanica continents. Therefore, according to the statistics announced, insurance penetration rate depends on two elements such as gross domestic production (GDP), and premium earned in a period. So increasing of this rate is not always indicative of insurance industrial growth. While mean world insurance penetration rate is 7 percent, we should increase insurance services, sale, and function using different tools including entrepreneurship strategic in order to reach mean world insurance penetration rate. Predicted areas within Iran 1404 perspective, is as a beast and the most prevalent country of region in terms of economic, politic, and social aspects which is one of the insurance effective foundation to achieve this important goal. In order that insurance penetration rate would affect in insurance companies, there is a need for organizational innovation and creativity in insurance companies, regarding organizational entrepreneurship and also their competitive markets. This innovation would be in an organizational entrepreneurship framework to create innovative and creative insurance companies which would be able of providing new methods and products for the clients so that they could surpass their competitors. Research History In the past similar researches, many researchers have published articles in the field of organizational entrepreneurship and the performance of organizations and companies which will be introduced and their results will be briefly described in this section. Organizational entrepreneurship is thoroughly considered in an article by Yazdan Bakhsh. He has introduced different types of organizational entrepreneurship and described various elements affecting on them. In a research conducted by Gholamian, Veisi and Veisi, the correlation between organizational entrepreneurship and organizational culture was considered, and determined and described elements affecting on entrepreneurial culture. Organizational entrepreneurship and entrepreneur organizations, is the title of another article published by Momeni. Haghshenas et al attempted to recognize existing difficulties and providing proposals to develop organizational entrepreneurship in an article with the title of "the pattern of organizational entrepreneurship in public sector". Some articles and researches have been found in the country which are about the organizational entrepreneurship in insurance industry. For instance a research was considered with the title of "Investigating the role of an intermediate organizational learning on the relation of spiritually leadership and organizational entrepreneurship (a case study of: Representatives of an insurance company in Save province)". Its results were confirming reasonable correlations between spiritual leadership and entrepreneurship. Comparative study of behavioral barriers of organizational entrepreneurship in public sector and non-governmental sections in insurance industry is the title of an article conducted by Rajabi and Dehghan, and its results were analyzed with the help of 470 experts and public sector's managers, and 446 experts and non-governmental managers. Najmabadi, Rezazadeh, et al, define organizational entrepreneurship as one the most important effective elements of organizational structure, and have studied on employees' entrepreneurial tendencies in insurance industry. The results indicate great impact of the structure of insurance organizations on entrepreneurial tendencies of employees in this industry. Imanpour and Zivdar, investigated the relation between the tendency of organizational entrepreneurship and their performance in a case study on representatives of Iran insurance company in Tehran, and the results indicate positive correlations between the performance of insurance companies and Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 130 organizational entrepreneurship. Considering the effectiveness of insurance occupational trainings on performance of employees of insurance companies from the aspect of entrepreneurial skills, is the title of another research by Shekarey and Heidarzadeh Arany. In this research, entrepreneurial individual, management, and technical skills of the insurance employees have been evaluated in order to increase their entrepreneurial skills. Investigations were conducted through distributing 301 questionnaires among the employees and results indicated that there are meaningful differences between before-service and while-service trainings on their performances in insurance companies from the aspect of entrepreneurial skills. Also there is meaningful difference among technical entrepreneurial skills on the type of their activity. Indicated that there is not meaningful difference between the general management performance and employees from the aspect of entrepreneurial skills. Entrepreneurial skills of the employees depend on their educational levels and are different from one person to another, individual entrepreneurial skills are also different based on their gender, and there is no correlation between entrepreneurial skills and their experience10. The consultant of ICFAI Company in India requested a reconstruction model and partnership of people in the insurance market in an article with the title of "Insurance Training in India"11. The results of his researches indicated that the presence of non-governmental companies in insurance industry leads to sever competition among insurance companies in providing better products12-14. Therefore, insurance companies need employees with new insurance knowledge to create such innovations. Accordingly, insurance training for employees is remarkably considered by authorities of insurance industry. Theoretical Framework In this section we define research method based on provided theoretical framework, according to the definitions about organizational entrepreneurship and also by considering insurance companies and their competitive attitude toward providing services. By studying previous researches and models in organizational entrepreneurship we face with two general strategies in this field such as: Strategy of existence of entrepreneur individuals in the organization or inter-organizational entrepreneurship. Strategy of creating entrepreneurship in the organization. Strategy number 1, emphasizes on individual entrepreneurship of employees inside the organization which finally leads to completion and execution of an innovative thought in the organization. In strategy number 2, the main element is organization itself, so that some changes occur in culture, behavior, and structure of the organization. Consequently, a common understanding is created among managers and employees based on innovation and creativity which leads to providing new services or products15,16. In insurance industry, new methods and solutions applied by individuals and organization can play an important role in providing services to clients, and also in insurance penetration. Hypotheses of the Research: In this research we investigate the relation between organizational entrepreneurship strategies and insurance penetration rate. Hypotheses are proposed as below: First hypothesis: There is meaningful relation between existence of entrepreneur individuals in the organization and insurance penetration rate. Second hypothesis: There is meaningful relation between organizational entrepreneurship strategies and insurance penetration rate. Research Questions: Research questions related to the organizational entrepreneurship and insurance penetration rate are defined as below, based on hypotheses mentioned earlier: How entrepreneur individuals in organizations can affect insurance penetration rate?, What is the effect of organizational entrepreneurship strategies on insurance penetration rate? Figure-1 Theoretical model of the research Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 131 Research Methodology Variables are considered based on theoretical research model provided in figure-1. This research is descriptive-survey and it is categorized as a research with applied purposes, So that field studies are applied to prove hypotheses, and related data are collected by using instrument of questionnaire. The applied questionnaire is based on 5-item Likret scale which has the multiple choices of; very little, little, somewhat, much, too much. Appropriate scores would be attributed to each choice using coding techniques by SPSS software. The designed questionnaire is distributed among the statistical society including 120 experts and managers of insurance companies selected randomly. Considering stability of the questionnaire by applying Krunbakh Alpha method higher than 0.7, results indicated that the questionnaire is valid. Data Analyzing: It was indicated that our case is following normal distribution by using Kolmogrov-Smirnov test. Knowing that it is following normal distribution, parametric Student "t" tests are applied. The outputs can prove research hypotheses mentioned earlier. Table-1One-Sample Kolmogorov-Smirnov Test Rate N 120 Normal Parameters Mean 1.5438 Std. Deviation .29334 Kolmogorov-Smirnov Z .952 Asymp. Sig. (2-tailed) .325 Figure-2 Normal Histogram First hypothesis: There is meaningful relation between existence of entrepreneur individuals in the organization and insurance penetration rate Table-2Test of First hypothesis Test Value = 1.5 t df Sig. (2- tailed) Mean Difference 95% Confidence Interval of the Difference Lower Upper Rate 1.634 119 .105 .04375 -.0093 .0968 Since the measured value of a Type I error is larger, so there is no reason to reject the null hypothesis. Thus it can be concluded that the presence of entrepreneurs in organizations will increase insurance penetration. The two together have a significant positive relationship. Second hypothesis: There is meaningful relation between organizational entrepreneurship strategies and insurance penetration rate Table-3Test of Second hypothesis Test Value = 1.5 t df Sig. (2- tailed) Mean Difference 95% Confidence Interval of the Difference Lower Upper Rate 1.428 119 .213 .0526 -.0125 .0991 Also consider these results can not reject the null hypothesis in the second test. Significant relationship between entrepreneurial strategy and the results will show the insurance penetration. The Impact of Organizational Entrepreneurship on Insurance Penetration Rate: As mentioned in previous sections, the purpose of entrepreneurship in organizations is to cause innovation and creativity in products and services. The entrepreneurship may contribute organizational development based on the strategy made by the organization. New ideas are highly admired in insurance markets today because of competitive conditions, So that it is impossible to manage insurance industry by applying traditional methods. Therefore, applying innovative methods in management, administration, and development is imperative. Economic changes, and damages due to natural catastrophes and sudden accidents in recent years, have made companies to think Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 132 about applying entrepreneurship in their organizations to cause innovations in providing services for their clients, so the history of creating entrepreneurship in insurance companies does not refer to a long time ago. So, in order to develop their own organization in insurance industry, companies began to employ well-educated and innovative staff, and attempted to apply management strategies based on entrepreneurship. In following sections we consider these two strategies applied in insurance companies, and we compare the impact of them on insurance penetration rate based on results of questionnaires. Entrepreneur Individuals in Insurance Companies: An insurance company is dependent on its own individuals and employees, since their activities in different fields can bring about promotion for the company against the competitors. Innovative and creative employees of a company can ignore hierarchy by following a creative and new process that can support the organization in providing new services and products. Employees and experts can apply innovative ideas in obviating difficulties facing insurance companies such as legal and technical problems and share their ideas with other managers. Following this process, various ideas are considered and they would be executed in all levels of the company if they were found to be appropriate. The most important elements in this strategy is innovation and ability to take risks. Using innovative employees in marketing units of an insurance company can bring about success and domination on clients and society. It is of a high importance that employees would take risks in proposing their innovative ideas. For an instance, in an insurance company working as a servicing company which is providing insurance damage covers, employees can apply innovative methods to attract more clients, but on the other hand they take the risk of being responsible if there would be any failure. Entrepreneurial Strategy in Insurance Companies: The Company’s strategy to achieve its goals is one of the most important aspects of organizational entrepreneurship. It is imperative that all employees understand this purpose and try to contribute the company in this way. Accordingly, company's strategy must be well-managed to be able to achieve certain goals and apply existing sources more efficiently. Various elements may be effective on companies' entrepreneurial strategies. Leadership style, organizational structure, organizational atmosphere, innovative culture, is some elements that each of them can bring about organizational entrepreneurship promotion, and finally lead to development of insurance industry in the society. The role of management in insurance companies can intensify the impact of entrepreneurship in organization and can encourage innovation in the organization by applying new management techniques. Managers of insurance companies, who try to create innovative and entrepreneurial organizations, apply employees in positions relevant to their specialties and provide them with facilities they may need, to make the atmosphere more stimulating that can lead to inter-organizational entrepreneurship. Organizational structure is the other element that should be emphasized. In traditional methods of hierarchy structures, relations between different sections were not feasible enough. Decreasing management layers and making team structures, information are transferred faster and decisions are also made faster. Due to teamwork, entrepreneurship and innovative ideas are proposed, which were not proposed earlier because of stress. Atmosphere of the organization is against employees due to environmental features. Directing employees' activities, their approach toward their duty, and relations between them, are all elements of organizational atmosphere affecting on organizational entrepreneurship. In order to create a entrepreneurial atmosphere in insurance companies, there should be dependence, friendship, and mutual relation. Organizational cultures in insurance companies should be an stimulating culture which allows employees to propose their innovative ideas and make them practical. Applying maximum exploitation of innovative ideas is counted as the method of creating entrepreneurial insurance companies. Choosing liberally and acting independently while undergoing risks and failures are counted as two indicatives of entrepreneurial culture of organization. Encouraging system is known as an stimulation for employees to tend to inter-organizational entrepreneurship and undergo its risk. Conclusion By introducing organizational entrepreneurship and insurance companies, the correlation between organizational entrepreneurship and insurance penetration rate is considered based on a theoretical framework. Two mentioned strategies for organizational entrepreneurship in insurance companies were considered, and their role on increase of insurance penetration in the society was described. A conclusion of research findings is provided below beside some proposals for future researchers. Insurance companies have to leave traditional methods to increase their competitive power and sales, and tend to entrepreneurship. This goal can be accomplished by applying entrepreneur employees and entrepreneurial strategies in the organization. The role of entrepreneur employees differs based on their position and activities in the organization. For instance, insurance companies can take the advantage of innovative and creative ideas of employees working in marketing unit to attract more clients and provide their satisfaction more efficiently. Entrepreneurial strategies in an organization also can contribute insurance companies to more developments and increase their share and value in competitive market. There are some elements in organizations which need to be amended in order to have an entrepreneurial organization, including; management approach toward entrepreneurship, encouragement and stimulation of employees, organizational structure and atmosphere, organizational culture and supporting entrepreneurship. Research Journal of Recent Sciences _____________________________________________________________ ISSN 2277-2502Vol. 4(11), 127-133, November (2015) Res.J.Recent Sci. International Science Congress Association 133 Therefore, according to the indicated results, insurance companies need to make some decisions and change in their traditional method in order to have more penetration and domination on their markets. Some of their solutions are described briefly as below: Applying new methods in servicing. Innovation in providing client's satisfaction. Providing an entrepreneurial atmosphere for employees. Applying appropriate organizational structure to exploit employees' innovations. Stimulating employees and encouraging them to undergo the risk of their ideas. Interested researchers can make their investigations more detailed and concentrate on the impact of organizational entrepreneurship on various insurance services such as life insurance and damages due to natural catastrophes. Also they can investigate the impact of entrepreneur individuals on establishment of insurance companies with new kinds of services. In addition to servicing companies, organizational entrepreneurship may be effective in productive industries that need to be investigated and analyzed. 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