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

Item Type Journal paper
Abstract

Recent developments in the insurance industry embrace various “Insurance 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.

Authors Stöckli, Emanuel; Dremel, Christian & Uebernickel, Falk
Journal or Publication Title Electronic markets : EM
Language English
Keywords InsurTech, FinTech, Digitalization, Insurance, Insurance IT innovations
Subjects information management
HSG Classification contribution to scientific community
HSG Profile Area SoM - Business Innovation
Refereed Yes
Date 5 June 2018
Publisher Springer
Place of Publication Berlin
Volume 28
Number 3
Page Range 287-305
ISSN 1019-6781
ISSN-Digital 1422-8890
Publisher DOI 10.1007/S12525-018-0304-7
Official URL https://link.springer.com/article/10.1007/s12525-0...
Contact Email Address emanuel.stoeckli@unisg.ch
Depositing User Emanuel Stöckli
Date Deposited 06 Jun 2018 09:09
Last Modified 12 Dec 2018 10:04
URI: https://www.alexandria.unisg.ch/publications/254368

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Citation

Stöckli, Emanuel; Dremel, Christian & Uebernickel, Falk (2018) Exploring characteristics and transformational capabilities of InsurTech innovations to understand insurance value creation in a digital world. Electronic markets : EM, 28 (3). 287-305. ISSN 1019-6781

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https://www.alexandria.unisg.ch/id/eprint/254368
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