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Borna, Shaheen; Avila, Stephen M.

doi:10.1023/a:1005716006206

Cited by 15 publications

(2 citation statements)

References 4 publications

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“…Reputation on social media has a positive influence on the performance of banks, and should be considered a strategic resource that can lead to a competitive advantage (Ballouk et al 2022). Insurance companies, however, can also mine information available on social media and from other sources to develop more sophisticated risk and pricing models or even to inform the claims adjusting process (Borna and Avila 1999;Chapeyama Mdala 2022). This is part of a longterm development in insurance to provide more personalized services (Kotalakidis et al 2016) and products better tailored to individual risk profiles (Rothschild and Stiglitz 1976;Baecke and Bocca 2017).…”

Section: Social Media Usementioning

confidence: 99%

Do Customers Want to Communicate with Insurers on Social Media? An Investigation of the Swiss Market

Pugnetti

Becker

Zani³

2022

IJFS

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Social media usage has grown rapidly in recent years, and with it companies’ interest in interacting with their customers on these platforms. It is, however, not yet clear whether customers welcome more intense relationships on social media and what drives this acceptance in more detail. Our research aims at understanding how age, gender, geography, usage, type of platform, personality, and current insurance provider impact customers’ attitudes towards interacting with insurance companies in the Swiss market. We find that age and frequency of use, in particular, impact acceptance, with younger customers much more open to interactions and insurance presence more welcome on more frequently used tools. This is an encouraging result for insurers, as customers tend to welcome them where customers are already frequently present. In addition, insurers can look forward to increasing interaction as younger individuals, who are more open to social media, age into core customers. Social context, on the other hand, plays only a minor role in customer preferences. The current insurance provider plays no significant role, in spite of insurance companies in the sample following widely different approaches to digital offerings and communication. This may be due to the early stage of development of the industry.

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Section: Social Media Usementioning

confidence: 99%

Do Customers Want to Communicate with Insurers on Social Media? An Investigation of the Swiss Market

Pugnetti

Becker

Zani³

2022

IJFS

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“…The majority of Swiss insurance customers prefer individual, more personalized, flexible services and consulting, thus putting pressure on insurers to develop new offerings and touchpoints (Deraëd and Henry 2012;Kotalakidis et al 2016). In addition to satisfying customer expectations, data can also enable insurers to better tailor and individualize their products to the customers' risk profile (Baecke and Bocca 2017), decrease information asymmetry (Cardon and Hendel 2001), and properly assess clients' risks to calculate the premium adequately (Borna and Avila 1999;Rothschild and Stiglitz 1976). Eling and Lehmann (2018) review the current literature of 84 academic papers to understand the impact of digitalization on the insurance value chain, and note that the academic discussion on the digitalization of insurance has been virtually non-existent.…”

Section: Introductionmentioning

confidence: 99%

Data-Driven Services in Insurance: Potential Evolution and Impact in the Swiss Market

Pugnetti

Seitz²

2021

JRFM

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Using real-time customer data holds great potential for the insurance industry. The frequency and relevance of interactions can be improved to provide assistance in real time. Better prevention and risk management can significantly improve pricing and reduce losses. These changes, however, hold the potential for structural changes in the industry. This research aims at understanding the potential path of the development of services in insurance and the challenges faced by insurers. A panel of industry experts provided the industry’s view, which was then compared with the responses of 1542 Swiss retail customers. We find that customers have high trust in insurance companies and are open to purchasing additional services, particularly for prevention and assistance. Insurance companies, however, are currently focusing on cost improvement measures. Customers are open to sourcing services from other providers, suggesting that insurance companies need to evolve their approach to take advantage of the current market window.

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Protect My Privacy or Support the Common-Good? Ethical Questions About Electronic Health Information Exchanges

Angst

2009

J Bus Ethics

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Cited by 15 publications

References 4 publications

Do Customers Want to Communicate with Insurers on Social Media? An Investigation of the Swiss Market

Do Customers Want to Communicate with Insurers on Social Media? An Investigation of the Swiss Market

Data-Driven Services in Insurance: Potential Evolution and Impact in the Swiss Market

Protect My Privacy or Support the Common-Good? Ethical Questions About Electronic Health Information Exchanges

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