Disruptive Technologies in the Operation of Insurance Industry

Njegomir, Vladimir; Demko-Rihter, Jelena; Bojanić, Tamara

doi:10.17559/tv-20200922132555

Cited by 6 publications

(1 citation statement)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…This absence can be attributed to the gradual digitization of traditional insurance, a point highlighted by Cappielo (2018). However, once the insurance sector embraced digital technologies, it sparked a profound transformation across the entire industry (Njegomir, Demko-Rihter and Bojanić, 2021).…”

Section: Introductionmentioning

confidence: 99%

Factors Influencing Technological Adoption in the Slovak Insurance Market

Slobodník

2023

View full text Add to dashboard Cite

The global insurance sector has undergone significant transformation due to the widespread integration of digital technologies. E-insurance, which involves the provision of insurance and related financial services through digital platforms, represents a significant advancement in this context. Digital innovation has not only increased profits to insurance companies but also facilitated the development of effective business strategies, enhancing their market share. The objective of this analysis is to uncover the determinants influencing the adoption of innovative technological solutions in the Slovak insurance landscape between 2011 and 2021. Utilizing the Technology-Organization-Environment (TOE) framework, the study categorizes the factors affecting the incorporation of IT in e-insurance into three groups: technological, organizational, and environmental. The findings reveal that the environmental factor exerts the most substantial influence on technological adoption in insurance market. Moreover, the study highlights the ample opportunities for insurance companies in the Slovak market to enhance their position through digitalization. Particularly noteworthy is the positive impact of an insurance company's market share on the likelihood of e-insurance adoption.

show abstract

Section: Introductionmentioning

confidence: 99%

Factors Influencing Technological Adoption in the Slovak Insurance Market

Slobodník

2023

View full text Add to dashboard Cite

show abstract

Not with the bot! The relevance of trust to explain the acceptance of chatbots by insurance customers

de Andrés-Sánchez,

Gené-Albesa

2024

Humanit Soc Sci Commun

View full text Add to dashboard Cite

Industry 4.0 profoundly impacts the insurance sector, as evidenced by the significant growth of insurtech. One of these technologies is chatbots, which enable policyholders to seamlessly manage their active insurance policies. This paper analyses policyholders’ attitude toward conversational bots in this context. To achieve this objective, we employed a structured survey involving policyholders. The survey aimed to determine the average degree of acceptance of chatbots for contacting the insurer to take action such as claim reporting. We also assessed the role of variables of the technology acceptance model, perceived usefulness, and perceived ease of use, as well as trust, in explaining attitude and behavioral intention. We have observed a low acceptance of insureds to implement insurance procedures with the assistance of a chatbot. The theoretical model proposed to explain chatbot acceptance provides good adjustment and prediction capability. Even though the three assessed factors are relevant for explaining attitude toward interactions with conversational robots and behavioral intention to use them, the variable trust exhibited the greatest impact. The findings of this paper have fair potential theoretical and practical implications. They outline the special relevance of trust in explaining customers’ acceptance of chatbots since this construct impacts directly on attitude but also perceived usefulness and perceived ease of use. Likewise, improvements in the utility and ease of use of robots are also needed to prevent customers’ reluctance toward their services.

show abstract

Exploring the impact of InsurTech adoption in Indian life insurance industry: a customer satisfaction perspective

Kaur,

Singh

2023

TQM

View full text Add to dashboard Cite

PurposeIn the era of Industrial Revolution (IR) 4.0, the integration of digital technologies, automation and data-driven insights has generated a broad wave of transformation across all industries, including the insurance sector. The study focuses on determining how the adoption of these technologies (InsurTech) is changing the life insurance industry, ultimately enhancing the level of customer satisfaction.Design/methodology/approachThe data analysis has been performed with 304 useable responses from the policyholders of life insurance in the north-west region of India. The methodology adopted for this study is partial least squares (PLS) structural equation modeling (SEM). To investigate the predictive relevance of customer satisfaction, the PLS predict technique has been used. Also, importance performance map analysis (IPMA) has been applied to assess the important and performing dimensions of customer satisfaction.FindingsThe outcomes show that the adoption of InsurTech has a positive impact on customer satisfaction. Customer service management and policy management are among the strongest predictors of customer satisfaction, and the predictive relevance is reported to be moderate. IPMA results have suggested that improvements in online distribution of insurance services and customer service management lead to higher customer satisfaction.Research limitations/implicationsThe conceptual model can be tested with the moderating effect of different demographic factors (age, gender etc.), and future research can be done to analyze the mediating role of customer satisfaction between InsurTech adoption and customer loyalty.Practical implicationsThe study offers valuable contributions to the marketing literature, shedding light on the influence of InsurTech adoption on customer satisfaction within the Indian life insurance sector. The research offers a practical approach that could help marketing professionals and policymakers comprehend the utilization of online insurance services, and this understanding can help industry experts to develop customer-oriented products and services.Originality/valueThis research is the first of its kind to test the association between InsurTech adoption and customer satisfaction in the life insurance sector in the Indian context. Research also provides novel insights for policymakers to enhance the satisfaction of customers towards using online insurance services in the near future in developing countries like India.

show abstract

Disruptive Technologies in the Operation of Insurance Industry

Cited by 6 publications

References 11 publications

Factors Influencing Technological Adoption in the Slovak Insurance Market

Factors Influencing Technological Adoption in the Slovak Insurance Market

Not with the bot! The relevance of trust to explain the acceptance of chatbots by insurance customers

Exploring the impact of InsurTech adoption in Indian life insurance industry: a customer satisfaction perspective

Contact Info

Product

Resources

About