An integrated total interpretive structural modeling and MICMAC model for uncovering enterprise agility barriers in the insurance industry

Abstract

The study aims to identify, analyze, and understand the barriers to enterprise agility in the insurance industry. Initially, the barriers are identified by a review of available literature and expert opinion. Next, an integrated approach consisting of total interpretive structural modeling (TISM) and matrix impact cross multiplication applied to classification (MICMAC) was used to uncover the interrelationship among these barriers. The identified barriers are inefficient information management, employee skill gap, lack of management support, lack of agile workforce, change resistance, lack of training, organizational silos, and lack of digital mindset. Lack of management support drives the other identified barriers with the highest driving power, and lack of an agile workforce was found to have maximum dependence power. The identified framework will assist firms in increasing their enterprise agility by deepening their awareness of the various components and their interdependence and prioritizing the critical barriers. The research contributes to the theoretical and practical understanding of enterprise agility barriers in insurance.