Insurers' risk management as a business process: a prospective competitive advantage or not?

Purpose Insurance companies exist to manage the risk of others, which is why they are perceived be competitive in management (RM). Considering this, we investigate how different RM capabilities make insurers effective RM. These include understanding and (URRM), identification (RI), assessment analysis (RAA) monitoring (RMON) activities insurance companies. In addition, authors probe these can jointly yield a advantage for industry under resource-based view (RBV) dynamic perspective (DCP). Design/methodology/approach The present latent variable model employ structural equation modeling (SEM) test hypotheses. Furthermore, also conduct confirmatory factor (CFA) convergent discriminant validity fit invariance testing, respectively. Findings results show that who investigated RM-related directly influence their practices (RMPs). Moreover, improving will more managing risks others. Thus, as business process sector. findings supported by theoretical insights presented RBV DCP. adheres cut-off values. Originality/value To best authors’ knowledge, this first study examining insurers' source advantage.