The aplication of electronic commerce in the distribution of insurance services

Piljan, Ivan; Piljan, Tatjana; Cogoljević, Dušan

doi:10.5937/trendpos1602055p

Cited by 3 publications

(3 citation statements)

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“…Considering the characteristics of insurance market, as well as insurance products, direct sales channels will remain important for certain groups of policyholders. However, the implementation of IT solutions, such as Customer Relationship Management (CRM), should enable a greater coverage of direct sales channels and add a dimension of individualization to digital channels in interaction with policyholders (Piljan et al, 2016). Therefore, IT usage, especially big data analytics, can complement and enhance the existing business solutions in the insurance companies, such as predictive analysis, which affects the determination of risk, claims and customer experience (Senousy et al, 2018).…”

Section: Resultsmentioning

confidence: 99%

“…Regarding the studies conducted in the insurance sector in the Republic of Serbia, it can be noted that the number of studies on the application of ICT in Serbian insurance companies is disproportionately small in relation to the importance of this issue. Studies usually analyze conditions for e-commerce adoption in the distribution of insurance services (Piljan et al, 2016). The mini case study conducted by Bradić-Martinović and Zdravković (2012) revealed that the observed Serbian companies, as well as the insurance company, lacked the appropriate mechanism to control investments in IT.…”

Section: H3: the Environmental Factors Positively Affect The Level Of...mentioning

confidence: 99%

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Factors Affecting Digital Transformation of Insurance in the Republic of Serbia

Stanković

Tomić

2022

Economic Themes

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Implementation of IT innovations in insurance industry enhances actual business models and creates new ones. E-insurance refers to creating and providing insurance and connected financial services through digital solutions. In this paper the impact of IT usage and digitalization on insurance sector in the Republic of Serbia is analysed. The aim of the proposed analysis is to reveal the determinants of the adoption of innovative technological solutions in insurance in the Republic of Serbia. Relying on the TOE framework, three groups of factors influencing the adoption of IT in e-insurance are identified: technological, organizational and environmental. Panel data approach and logistic regression are used to examine the effects of proposed factors on e-insurance adoption. The obtained results indicate that organizational and environmental factors have statistically significant influence on the achieved level of e-insurance adoption, while only the market share of the insurance company positively influences the odds of e-insurance adoption. Therefore, it can be concluded that e-insurance in the Republic of Serbia is the matter of reputation and tendency of insurers to achieve short-term gains and a competitive advantage through innovation.

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Section: Resultsmentioning

confidence: 99%

Section: H3: the Environmental Factors Positively Affect The Level Of...mentioning

confidence: 99%

Factors Affecting Digital Transformation of Insurance in the Republic of Serbia

Stanković

Tomić

2022

Economic Themes

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“…Of course, all this should be accompanied by an adequate legal regulation, which will enable the free flow of capital and services. (Piljan, et al, 2016).…”

Section: ) Belgradementioning

confidence: 99%

The influence of teamwork as an internal marketing factor on the quality of the service of insurance companies in Serbia's agricultural sector

Piljan¹,

Simonović

Ćurčić

2020

Ekonomika poljoprivrede

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The subject matter of this paper is the analysis of the quality of the services and the sustainability of the business operations of insurance companies in the agricultural sector in the Republic of Serbia, depending on the teamwork concept. Teamwork belongs to the internal marketing factors in companies' business doing. Teams should have a common goal which the members may only achieve through joint work and a combination of the knowledge and abilities pertaining to different areas. Client satisfaction is a teamwork efficiency measure. Apart from a large number of satisfied users, a large number of new insurance programs innovated from year to year and offering its users an increasingly big range of possible types of insurance are also the indicators of the successful business doing of insurance companies in the agricultural sector. The research study was done on a suitable sample of 250 respondents, employed in 10 insurance companies.

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Application of digital technologies in the distribution of insurance products

Čolović

2024

XXI Međunarodni Naučni Skup „Pravnički Dani - Prof. Dr Slavko Carić“, Odgovori Pravne Nauke Na Izazove Savremenog Društva - Zbo

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Digitization, as well as certain digital technologies, have been present in the insurance industry for some time, which significantly contributes to the development of insurance, but also enables insurance contractors, i.e., policyholders, to use all their advantages related not only to information about insurance products, but also activities of insurance companies, as well as all aspects of payment of insurance premiums and occurrence of case insurance, and also payment of the insurance sum. In order for digital technologies to find their place in insurance, a digital transformation of the operations of insurance companies is needed. Digital transformation is a process that starts from the moment when the insurance company starts planning the introduction of digital technologies in its business and lasts until the full inclusion of digital technologies in the insurance business. Technological companies that offer insurance products, that is, insurtech companies, have recorded greater interest from investors than in previous years. However, in order to be able to apply digitization in the insurance industry, it is necessary to carry out additional training, which is also defined in the Joint Declaration of social partners in the insurance sector on the social effects of digitization, which was signed, among others, by the European Association of Insurers, the Association of for mutual insurance and own insurance companies in Europe, as well as the European Association of Insurance Intermediaries. The paper also analyzes the impact of blockchain technology on the functioning of insurance in terms of defining "smart" contracts in this area. Finally, the author analyzes the role of digital technologies in risk assessment. Namely, information systems enable the analysis of relevant information that enables easier decision-making on the prediction of insured cases.

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The aplication of electronic commerce in the distribution of insurance services

Cited by 3 publications

References 0 publications

Factors Affecting Digital Transformation of Insurance in the Republic of Serbia

Factors Affecting Digital Transformation of Insurance in the Republic of Serbia

The influence of teamwork as an internal marketing factor on the quality of the service of insurance companies in Serbia's agricultural sector

Application of digital technologies in the distribution of insurance products

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