Query: insurance digitalization

title: Building a Digitally Enabled Future: An Insurance Industry Case Study on Digitalization
abstract: (a) Situation faced: INSUR is one of the top fifteen insurance companies in Germany. Between 2000 and 2015, the organization focused on (1) external growth through several acquisitions as well as (2) the integration of these acquisitions including the corresponding IT landscape into the overarching organization. From 2016 onwards, INSUR's strategic focus shifted to actively shaping its group's digital journey, including the build up of new digital capabilities to fulfill the agility and innovation requirements of the business units. INSUR's strategy focused on growth and efficiency gains through digitalization as well as on fostering innovation in developed digital solutions and services. (b) Action taken: At the end of 2015, INSUR's top management started a strategic digital transformation initiative to define the cornerstones of the groups' innovation and digital agenda. This agenda followed six strategic imperatives: (1) creating digital awareness throughout the organization; (2) developing a group wide common understanding of digitalization and establishing the first digital and innovation strategy; (3) selecting and validating strategic focus areas for digitalization; (4) enlarging the company's digital ecosystem using collaborations with startup accelerators and universities; (5) setting up a digital lab to develop and prototype digital use cases and (6) enhancing and scaling the digital lab towards a digital factory.  INSUR successfully initiated its digitalization journey and developed a high level, group wide digital and innovation strategy and selected its digital focus topics. Further, it set up an innovation management process and enlarged its digital ecosystem. The digital lab that INSUR started, however, did not take on as well as expected. Realizing that a small incubator is insufficient, INSUR is currently upscaling and transitioning the lab towards an integrated end to end digital factory. (d)  While all changes might require some management support, the nature of digitalization requires top management support across all business and functional areas right from the beginning. Even if there are still legacy systems that need to be shut down or renewed, digitalization should be addressed early on while continuing to renovate the IT. Furthermore, fostering cultural change to be an attractive employer for new digital talents, which are required on all levels to make the digital transformation a success, is a key success factor. Finally, handling and actively managing concerns and required cultural change within the organization are paramount.

title: Insurance: models, digitalization, and data science
abstract: This article summarizes the main topics and findings from the Swiss Risk and Insurance Forum 2018. That event gathered experts from academia, insurance industry, regulatory bodies, and consulting companies to discuss the challenges arising from the impact of data science and, more generally, of digitalization to the insurance sector.

title: Digitalization in insurance companies
abstract: the main idea of the article was to characterize the process of digitalization in insurance companies through the implementation of information and communication technologies (ICT) This research examined the relationship between the expenses for information technologies of selected insurance companies and the results of their activity. Research methodology the research had empirical character and was based on the analysis of two groups of indicators: digitalization and insurance. The first group characterizes the level of insurance companies' investments in ICT, and the second the results of insurance activity. Data were collected from notes to financial statements of top 4 European insur ance groups. The results have been received based on correlation analysis. Findings the results of the research showed that there is a different tendency in the raising of ICT investments and the values of gross premiums, claims, and expenses. This result deals with the important question in insurance if the higher invests in technologies could be a factor of insurers' effectiveness. Research limitations most important limitation relates to the lack of complete data about information and communica tion technologies in insurers. It is closely connected with some ambiguity in defining modern information technologies. Practical implications the results of the research could be used in the decision making process in practice or future re search. Value in the research the possibility to combine analysis and comparison of selected parameters of digitali zation based on financial statements of insurance companies was described.

title: The Impact of Digitalization on the Insurance Value Chain and the Insurability of Risks
abstract: Based on a dataset of 84 papers and industry studies, we analyse the impact of digital transformation on the insurance sector using Porter's value chain (The Competitive Advantage: Creating and Sustaining Superior Performance, The Free Press, New York, 1985) and Berliner's insurability criteria (Limits of Insurability of Risks, Prentice Hall, Englewood Cliffs, NJ, 1982) We also present future research directions from the academic and practitioner points of view. The results illustrate four major tasks the industry is facing: enhancing the customer experience, improving its business processes, offering new products, and preparing for competition with other industries. Moreover, we identify three key areas of change with respect to insurability: the effect of new and more information on information asymmetry and risk pooling, the implications of new technologies on loss frequency and severity, and the increasing dependencies of systems through connectivity.

title: Tsifrovizatsiia strakhovogo rynka: zadachi, problemy i perspektivy Digitalization of the Insurance Market: Tasks, Problems and Prospects
abstract: The subject of the research is the impact of digital technologies on the insurance market in terms of internetization, digitalization and individualization of the insurance business. The purpose of the research was to analyze the digital insurance concept and the process of digitalization of the insurance market based on the Russian and foreign insurers' practices in the promotion of digital technologies, including the use of general scientific approaches and research methods. Among the results of the research were the definitions of the <digital insurance> and <digitalization of insurance activities> concepts as well as the formulation of problems and prospects for further use of digital technologies in the insurance market. The paper concludes that the introduction of new technologies in the digital economy will influence the insurance technology without changing its economic substance. Moreover, the digitalization of insurance activities will be followed by significant innovations improving the effectiveness of the former, development of new insurance programs, convergence of commercial and mutual insurance and things alike. Predmet issledovaniia vliianie tsifrovykh tekhnologii na strakhovoi rynok, v tom chisle na internetizatsiiu, digitalizatsiiu i individualizatsiiu strakhovoi deiatel'nosti. Tsel' raboty analiz tsifrovogo strakhovaniia i protsessa tsifrovizatsii strakhovogo rynka na osnove prakticheskoi deiatel'nosti rossiiskikh i zarubezhnykh strakhovshchikov po vnedreniiu tsifrovykh tekhnologii, v tom chisle s primeneniem obshchenauchnykh podkhodov i metodov issledovaniia. Rezul'tatami raboty stali opredeleniia takikh poniatii, kak <tsifrovoe strakhovanie> i <tsifrovizatsiia strakhovoi deiatel'nosti> formulirovka problem i perspektivy dal'neishego ispol'zovaniia tsifrovykh tekhnologii na strakhovom rynke. V stat'e sdelan vyvod o tom, chto vnedrenie novykh tekhnologii tsifrovoi ekonomiki okazhet vliianie na tekhnologiiu strakhovaniia, no ne izmenit ee ekonomicheskuiu sushchnost' Vmeste s tem tsifrovizatsiia strakhovoi deiatel'nosti budet soprovozhdat'sia vyrazhennymi innovatsiiami, sviazannymi s povysheniem effektivnosti strakhovoi deiatel'nosti, razrabotkoi novykh programm strakhovaniia, konvergentsiei kommercheskogo i vzaimnogo strakhovaniia i prochimi iavleniiami.

title: Digitalization of the Insurance Market: Tasks, Problems and Prospects

title: A Study on Policyholder's Perception about Digitalization of Insurance Sector (E Insurance)
abstract: The future may be hard to predict, but need not be hard to prepare for. Insurers are grappling with the tough new business, investment and regulatory environments that are emerging from the financial crisis. The industry, however, also faces far broader challenges. Demographic shifts, the rise in power of the emerging markets and changing customer behavior will all help shape the sector's longer term future. Insurers who can anticipate and plan for change can create their own future. Others who are 'fast followers' will need to be agile enough to recognize the leaders and adopt similar strategies. The 'survivors' are likely to be focused on short term performance. Recent developments in Information Technology (IT) and webenabled systems have made it easier for insurers to run global operations in Insurance sector. The primary justification for imaging and scanning projects has traditionally been cost savings. Insurers are shifting their focus regarding the purpose of digitization investments to business optimization. So, the purpose of this research paper is to investigate the Policyholder's Perception about Digitalization of Insurance Sector (E Insurance) services provided by Life Insurance Corporation (LIC) to integrating the technology acceptance in Vellore City, Tamil Nadu, and India.

title: Innovation within Companies the Best Insurance Policy for Digitalization

title: Digitalization in the Insurance Industry. Themes and Decisions That Matter: Insights from a Multiple Case Study in Germany and Switzerland

title: Insufficient knowledge in industrial digitalization Promising perspective from female suppliers
abstract: Small and medium sized enterprises (SMEs) don't know exactly what digitalization means and have difficulties in reaching the potential benefits. To stay competitive SMEs, need support in how to im