Fintech — Umbruch der Finanzbranche durch IT

Alt, Rainer; Ehrenberg, Dieter

doi:10.1007/s35764-016-0056-0

Cited by 10 publications

(4 citation statements)

References 7 publications

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“…Thereof, we build on the definition of Arner et al (2015) describing FinTech simply as technology use for financial solutions. While they include any use of technology to deliver financial solutions, we limit the scope to innovative and IT-based solutions as suggested by Alt and Ehrenberg (2016). Moreover, we incorporate the emphasis that InsurTech innovation can have its origin in both traditional financial service providers and non-traditional companies, such as start-up companies and companies from other industries, which is in line with Puschmann (2017).…”

Section: Background On Insurtech and Fintechmentioning

confidence: 99%

“…Accordingly, the potential to harness information technology (IT) to innovate the traditional insurance industry is tremendous for both incumbents and new market entrants (Puschmann 2017). Against this backdrop, rising start-up companies such as Trōv, Bought By Many, and Knip are drawing on simplicity, flexibility, and customer centricity and, thereby, reach a broad audience (Alt and Ehrenberg 2016). This puts traditional insurers in danger (Alt and Ehrenberg 2016); their role, besides being pure risk carriers, is challenged.…”

Section: Introductionmentioning

confidence: 99%

“…In these premises, the field of Financial Technology (FinTech) and Insurance Technology (InsurTech) is gaining attention from scholars (e.g., Alt and Ehrenberg 2016;Puschmann 2017;Zavolokina et al 2016) and practitioners (e.g., PricewaterhouseCoopers 2016) alike. Due to the novelty of the topic and the scarcity of scientific literature on FinTech and InsurTech, prior research on this emerging phenomenon lacks structured empirical assessments (Puschmann 2017).…”

Section: Introductionmentioning

confidence: 99%

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Exploring characteristics and transformational capabilities of InsurTech innovations to understand insurance value creation in a digital world

2018

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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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Section: Background On Insurtech and Fintechmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Exploring characteristics and transformational capabilities of InsurTech innovations to understand insurance value creation in a digital world

2018

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“…At the same time, InsurTech provides insurance customers with multiple scenarios and increasingly flexible, personalized, and diversified insurance products and services [49]. The unique digital customer experience it brings is an important condition for industry-leading growth [50]. For instance, advanced technology underpins insurance models ranging from behavior-based pricing, widely studied in the car insurance industry [51,52], to personalization linked to data retrieved from wearable devices [53].…”

Section: Literature Review and Research Hypotheses 21 Literature Reviewmentioning

confidence: 99%

Research on InsurTech and the Technology Innovation Level of Insurance Enterprises

Liu

Zhang

et al. 2023

Sustainability

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New technologies are integrating and deeply influencing people’s work and life, and have become a key factor leading the continuous innovation of the insurance industry. The application of InsurTech has attracted widespread attention in the industry, and it is necessary to conduct in-depth deconstruction and analysis of its impact on insurance enterprise innovation to ensure the sustainability of technological innovation in insurance enterprises. Based on the panel data of Chinese insurance enterprises from 2011 to 2020, this paper empirically examines the relationship between InsurTech and enterprise technological innovation level and the mechanism of action by using the fixed effect model and the intermediary effect model. The empirical research results are as follows: (1) The development of InsurTech has significantly improved the technological innovation of insurance companies. (2) From the perspective of mechanism, InsurTech mainly improves the technological innovation level of insurance companies by alleviating financing constraints. (3) Furthermore, we also found significant differences in the promotional effect of InsurTech’s development on enterprises of different sizes and properties. At the same level of development, InsurTech has a greater and more significant “incentive effect” on the technological innovation level of non-state-owned enterprises and small and micro insurance enterprises. The research conclusion of this article not only enriches the literature on InsurTech and the technological innovation level of insurance companies, but also has significance for China’s insurance companies to help them formulate digital transformation policies and promote the “sustainable development” of technology empowerment insurance strategies.

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