Analysing the Challenges of Insurance Companies in Pakistan While Co-Creating the Service Value


Ifra Aziz Khan Niazi
Tehmina Fiaz Qazi
Shabana Naveed
Mashari Mahmood


Businesses need innovation and innovation requires output from outside the business, to create something innovative and special for their customers. This creates a prerequisite to do co-creation. Co-creation let those businesses collaborate with external stakeholders to gather and generate fresh ideas. This study focuses on co-creation and its challenges in Pakistani Insurance companies. This study aimed to do a thorough research on those challenges, to present them in a structural model on priority basis and to categorize them on the basis of their driving and dependence power. This is thorough study based on literature review and mixed method. Data was collected by 18 experts on panel (respondents) selected on the pre-determined criteria. This study contributed a comprehensive list of 28 challenges faced by Pakistani Insurance companies, found out using literature review method, confirmed by the panel of experts (17 respondents) and then were analyzed by using Interpretive Structural Modelling and MICMAC. Results show that Proper Planning (1) is the most important one and dependent on linkage ones. Study has practical implications for researchers, insurance businesses, and policy makers and theoretical implications to fill the literature gap. Along with the contributions and implications, this study, as other studies, has some limitations as well. Those limitations have three different angles i.e., methodological limitations, data limitations and resources limitations. Future researchers can use our recommendations to proceed further in research and to overcome the limitations.


How to Cite
Niazi, I.A.K. , Qazi, T.F. , Naveed, S. and Mahmood, M. 2023. Analysing the Challenges of Insurance Companies in Pakistan While Co-Creating the Service Value. Journal of Policy Research. 9, 1 (Mar. 2023). DOI:

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