Digital technologies as a game changer in insurance industry

master's thesis

• Author: Lida Matić
• Mentor: Mario Spremić (mentor)
• Committee member: Ivan Strugar (predsjednik povjerenstva)
• Committee member: Božidar Jaković (član povjerenstva)
• Committee member: Mario Spremić (član povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Informatics); Zagreb
• Defense date and country: 2019-09-12, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Business Informatics

Abstract

Today companies, regardless of the size, field of expertise or market, are being faced with the same dilemma: digitalize or die. Digital technologies such as Internet of Things, mobile technologies, and big data profoundly impact all elements of doing business. Insurance industry is only one out of many industries being disrupted by enormous potential of digital technologies. Thus, the main question thesis aimed to answer is following: How are new technologies affecting elements of the business model of traditional insurance companies? Tapping new digital resources enabled insurers to develop new products such as usage-based insurance, pay-how-you drive, and pay-as-you drive insurance models, improve market segmentation, incentivize users with individualized insurance premiums, and make insurance prevention matter of reality rather than utopia. It became clear success in insurance industry no longer comes from doing more of what they incumbent insurers did for decades. Only insurers overcoming inertia and being agile enough to adapt all aspects of doing business might capitalize upon all the opportunities digital transformation brings in all.

• Keywords: Insurance; digital; technologies; transformation; IoT; data; telematics
• Keywords (english): Insurance; digital; technologies; transformation; IoT; data; telematics
• Language: english
• URN:NBN: urn:nbn:hr:148:009399
• Study programme: Title: Business economics-managerial informatics; specializations in: Managerial informatics; Course: Managerial informatics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomnije (magistar/magistra ekonomnije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2019-10-02 11:46:43