The Development of InsurTech in Europe and the Strategic Response of Incumbents

Ricci, Ornella; Battaglia, Francesca

doi:10.1007/978-3-030-81835-7_5

Cited by 4 publications

(3 citation statements)

References 15 publications

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“…They concluded that the adoption of insurtech technologies leads to improved operational efficiency. Ricci and Battaglia (2021) empirically evaluated how insurtech start-up investments are responded to. In their study conducted in Europe, they found that one of the most significant potential benefits that insurtech investments can bring is the restructuring of the traditional insurance value chain, resulting in enhanced efficiency and adaptability.…”

Section: Discussionmentioning

confidence: 99%

Insurtech in Europe: identifying the top investment priorities for driving innovation

Eti,

Dinçer,

Meral

et al. 2024

Financ Innov

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The purpose of this study is to determine the essential indicators to improve insurtech systems and select the most critical alternative to increase insurtech-based investments in European countries. A novel fuzzy decision-making model is generated by integrating entropy and additive ratio assessment (ARAS) techniques with spherical fuzzy sets. First, the indicators are weighted using spherical fuzzy entropy. Then, the alternatives are ranked using spherical fuzzy ARAS. The alternatives are also ranked with the spherical fuzzy technique for order of preference by similarity to the ideal solution methodology. The main contribution of this study is that it would help investors to take the right actions to increase the performance of insurtech investments without incurring high costs. Another important novelty is that a new fuzzy decision-making model is proposed to solve this problem. The results of the two models are quite similar, proving the validity and coherency of the findings. It is found that pricing is the most critical factor that affects the performance of insurtech investments. Insurtech companies are required to make accurate pricing by conducting risk analyses to increase their profits and minimize their risks. Additionally, according to the ranking results, big data are the most appropriate way to improve the performance of insurtech investments in Europe. Big data analytics helps companies learn more about the behavior of their customers. By analyzing data about their customers’ past transactions, companies can provide more convenient services to them. This would increase customer satisfaction and enable companies to achieve long-term customer loyalty.

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Section: Discussionmentioning

confidence: 99%

Insurtech in Europe: identifying the top investment priorities for driving innovation

Eti,

Dinçer,

Meral

et al. 2024

Financ Innov

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“…New technologies may disrupt previous natural monopolies and make those sectors contestable, for example by lowering fixed costs. Innovations in the field of financial technology, for example, could potentially transform the market structure of traditional insurance markets through the analysis of real-time data on risk profiles, dynamic underwriting, and personalized premium setting (Ricci and Battaglia 2021). As a result, the categorization of sectors may vary over time and would thus need to be reassessed periodically to ensure its temporal relevance.…”

Section: Discussionmentioning

confidence: 99%

Are All State-Owned Enterprises Equal? A Taxonomy of Economic Activities to Assess SOE Presence in the Economy

Dall'Olio¹,

Goodwin²,

Martha³

et al. 2022

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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“…Az insurtech a technológia innovatív alkalmazása a biztosítási szektorban, ami a fintech szektor egyik részhalmaza, amely megváltoztatja az üzleti modellt, a versenyhelyzetet a biztosítási szektorban a teljes értéklánc mentén (NAIC, 2023;Ricci & Battaglia 2021). Az insurtech cégek célja a biztosítási értéklánc teljes átalakítása a technológiai újdonságok, az üzleti modell, a fogyasztók stratégiai és operatív gondolkodásmódja között egyensúlyozva (BCG, 2023;Sosa & Montes, 2022).…”

Section: Szakirodalmi áTtekintésunclassified

Technológiai forradalom a biztosítási szektorban – Az insurtech felhasználói fogadtatása Magyarországon

Halmosi

2023

RETP

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A műszaki és technológiai fejlődés legújabb vívmányai az elmúlt években a pénzügyi termékek, ezen belül a különböző biztosítási termékek piacán is megjelentek. A tanulmány célja a biztosítási szektorban megjelenő technológiai újdonságok elterjedési lehetőségeinek elemzése a fogyasztók általi elfogadás vizsgálatán keresztül. A szakértői fókuszcsoport vizsgálatból kiinduló kutatás 150 fő, felsőfokú képzettségű személy válaszai alapján vizsgálja a különböző innovációs nyitottságú fogyasztói csoportok közötti legfontosabb hasonlóságokat és eltéréseket. Az eredmények közül kiemelendő a digitális megoldásokra nyitott fogyasztók fokozott érzékenysége a bizalmat fokozó és költség-haszon szempontok, valamint a rugalmas, egyedi problémára szabott innovációkra vonatkozó várakozások megléte. Az eredmények alapján szükség van egy, a biztosítási iparág sajátosságait – köztük például hosszabb távú szemléletét – figyelembe vevő technológiaelfogadási modell bevezetésére a későbbi kutatások során.

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The Development of InsurTech in Europe and the Strategic Response of Incumbents

Cited by 4 publications

References 15 publications

Insurtech in Europe: identifying the top investment priorities for driving innovation

Insurtech in Europe: identifying the top investment priorities for driving innovation

Are All State-Owned Enterprises Equal? A Taxonomy of Economic Activities to Assess SOE Presence in the Economy

Technológiai forradalom a biztosítási szektorban – Az insurtech felhasználói fogadtatása Magyarországon

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