Options
Exploring characteristics and transformational capabilities of InsurTech innovations to understand insurance value creation in a digital world
Journal
Electronic markets : EM
ISSN
1019-6781
ISSN-Digital
1422-8890
Type
journal article
Date Issued
2018-06-05
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.
Language
English
Keywords
InsurTech
FinTech
Digitalization
Insurance
Insurance IT innovations
HSG Classification
contribution to scientific community
HSG Profile Area
SoM - Business Innovation
Refereed
Yes
Publisher
Springer
Publisher place
Berlin
Volume
28
Number
3
Start page
287
End page
305
Subject(s)
Division(s)
Contact Email Address
emanuel.stoeckli@unisg.ch
Eprints ID
254368