The Impact of Blue Ocean Strategy on the Competitive Advantage of Insurance Companies (Case Study: Novin Insurance Company)

The blue ocean strategy, as a competitive source, can identify the potential of the companies and win them in the competition. Therefore, this study evaluates the relationship between using the blue ocean strategy and gaining competitive advantage.

The research is a descriptive study using a questionnaire survey. About 157 of managers, consultants and employees of the Novin insurance company were selected using simple random sampling method and participated in this study. Data was analyzed using structure equation modeling and the path analysis to examine the research hypotheses using SPSS and PLS softwares.

The results indicate that all research hypotheses were confirmed and the removal strategy of the blue ocean has first rank and the greatest impact on the competitive advantage of the Novin insurance company, and the reducing strategy for the ocean blue has Fourth rank and the lowest impact on the competitive advantage of the Novin insurance company.

Insurance Companies can Achieve Competitive Advantage using the blue ocean strategy.