The mediating role of marketing capabilities in the impact of artificial intelligence competencies on insurance companies' market performance

We are living in an era that is referred to as the digital age. The digital age is an era in which the use of digital technologies has become significantly more prevalent and widespread. Digital technology has revolutionized the way we communicate, work, shop, entertain, and even live. These technologies have enabled easy and fast access to information and have led to improved efficiency and increased productivity in various industries. The deployment of artificial intelligence has accelerated in several areas in the past few years, with much focus on its potential in marketing. Early reports highlight promising benefits of artificial intelligence in marketing, such as providing important insights into customer behaviors, identifying important market insights, and streamlining operational inefficiencies. Drawing on the AI competencies and marketing literature, this study develops a conceptual research model that examines the impact of AI competencies on marketing capabilities and, in turn, on market performance in insurance companies. The research method used in this study is descriptive correlational and a standard questionnaire was used to measure the research variables. The statistical population of this study is all senior managers of insurance companies, whose number is 300 people, and the sample size is estimated to be 169 people using the Cochran formula. The validity of the research tool has been confirmed in terms of content and its reliability using Cronbach's alpha. To answer the questions and examine the research hypotheses, the structural equation method and path analysis using the partial least squares (PLS) method were used with Smart-PLS software. The results showed that artificial intelligence competencies affect marketing capabilities (information management capabilities, planning and implementation) in insurance companies. The results also indicate that marketing capabilities (information management capabilities, planning and implementation) have a positive effect on the market performance of insurance companies. The results also showed that the effect of artificial intelligence competencies on the market performance of insurance companies is partially mediated through the three aforementioned capabilities.

AI competencies, marketing capabilities, market performance, insurance companies