Recent developments in the insurance industry embrace various BInsurance Technology^(InsurTech) innovations. To date, there is a lack of structured assessments of InsurTech. Prior research on FinTech fails (1) to clarify how InsurTech can be characterized and what capabilities are employed, and hence, (2) to reveal implications for value creation on firm and industry level. We address this by inductively building a model of InsurTech innovation adopting the grounded theory method. Our empirical data includes 208 InsurTech innovations from a market analysis based on Twitter data and a multiple-case study. The resulting model comprises 52 characteristics and 14 transformational capabilities and is integrated with extant value networks and intermediation literature. The former explains how InsurTech affects firm-level value creation and suggests that disruptive potentials emerge from aligning the transformational capabilities along three interdependent activities. The latter explains the entrance of digital intermediaries and their roles in the personal insurance market.

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Increasing speed and flexibility is of strategic importance to almost any company in times of digital transformation. While startups or "born digital" companies are agile by nature, traditional companies are struggling with the question of how to increase organizational agility. Little knowledge exists about how enterprises adopt and scale agile practices and structures. This exploratory study with twelve global cases examines how traditional companies adopt and scale agile structures. We found that (1) agile structures are currently adopted by enterprises at large scale, (2) agile structures are adopted not only by IT, but also by business units, and (3) while Spotify's organization serves as a widespread template for a fully agile unit, enterprises adapt and fine-tune this template according to their needs and scale. Furthermore, we identified three additional models for fully agile structures where a fully agile unit with cross-product support is the most frequently observed model.