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The increasing capabilities of artificial intelligence (AI) are changing the way organizations operate and interact with users both internally and externally. The insurance sector is currently using AI in several ways but its potential to disrupt insurance is not clear. This research evaluated the implementation of AI-led automation in 20 insurance companies. The findings indicate four business models (BM) emerging: In the first model the insurer takes a smaller part of the value chain allowing others with superior AI and data to take a larger part. In the second model the insurer keeps the same model and value chain but uses AI to improve effectiveness. In the third model the insurer adapts their model to fully utilize AI and seek new sources of data and customers. Lastly in the fourth model a technology focused company uses their existing AI prowess, superior data and extensive customer base, and adds insurance provision.

This paper aims to present the case of an Italian SME in the domain of insurance and how it approached its own digital transformation. Together with the founders of the SME, the author investigated the digital trends the company should adopt and identified where to intervene in the value chain of the company with new technologies available in the market. The research was focused on the following three sub-domains: a strategy for adoption of innovative digital solutions to improve the everyday operations of the company, platform connecting the company with the customers and analysis of cyber insurance policies to include in the portfolio of the company.

For the part on strategy for adoption of innovative digital solutions, the author performed literature review; for the part in which the study ideates new solution to better connect the company with the customers, the author relied on design thinking, creative facilitation and prototyping; and for the part on cyber insurance policies to include the portfolio, the author relied on data available from other insurance companies the SME collaborates with.

This paper presented the analysis on how an insurance SME can embrace digital innovation (via internal innovation, buying from startups, partnering with startups or investing in startups), how an SME can do internal innovation and come up with a simple tool to bring closer the insurers and their customers and types of new cyber risk policies to include in the portfolio to respond to the growing demand for cyber risk insurance. This paper provides useful insights and lessons learned from companies of similar size in the domain of insurance and discusses future extensions of inquiry.

Big insurance companies and incumbent for their digitization efforts rely on the freshly created InsurTechs wave of companies. In this paper, the author analyzes what small- and medium-sized insurance enterprises can do in this respect and showcases the approach an Italian SME took in this direction.

This study aims to identify the propensity for clients (legal and natural persons) to adopt peer-to-peer (P2P) short-term insurance policies as opposed to traditional and/or centralized short-term.

In this paper data was collected through a survey of 102 sampled short-term insurance clients using convenience sampling. The TAM2 questionnaire was adapted to evaluate the intention to adopt a P2P insurance policy.

The findings of this study shed light on the factors influencing the adoption and (dis)continuation of short-term insurance products, both traditional and digital, among South African consumers. The results demonstrate that perceived usefulness, ease of use, trust, risk perception and subjective norm play crucial roles in individuals' intention to use or (dis)continue the use of these insurance products.

The study's findings provide actionable insights for practitioners in the short-term insurance sector, with a focus on marketers and e-commerce professionals. These insights emphasize the need to prioritize user-friendly design and trust-building measures in the development of P2P insurance systems. Additionally, practitioners should consider harnessing the power of social influence and carefully balancing innovative features with familiarity in their marketing efforts. These strategies are poised to enhance the adoption and competitive positioning of P2P insurance solutions amidst the evolving landscape of digital transformation.

This study makes a substantial contribution by employing the technology acceptance model (TAM) in a novel and unconventional manner. It not only explicates the intricate dynamics governing the adoption and discontinuation of short-term insurance products, encompassing both conventional and digital alternatives, within the South African consumer milieu but also extends its purview to infer the reasons behind the limited widespread adoption of the digital counterpart, despite its superior value proposition compared to the traditional offering. The findings elucidate the critical determinants shaping individuals' decisions in this dynamic market segment. This research enhances the global discourse on insurance adoption with a unique South African perspective and furnishes insurers and marketers with empirically grounded insights to optimize their strategies and cultivate substantive connections with their target demographic.

This paper explores and identifies customer-value-related sacrifices that consumers attach to interactive health/life insurance. This paper aims to increase understanding of why individual consumers are not willing to embrace behaviour-tracking-based insurance applications.

The authors analysed data from a qualitative survey of Finnish insurance consumers who were not keen on adopting interactive insurance products.

Developed through thematic analysis, the framework presented in this paper illustrates consumers’ value sacrifices on four dimensions: economic, functional, emotional and symbolic value.

The framework and insights emerging in the study hold several implications related to increased understanding of consumers’ perceptions of insurance and to developing interactive insurance services. In addition, this work provides a promising foundation and avenues for further considerations related to digital ethics in insurance.

To the best of the authors’ knowledge, this paper is the first piece applying a value sacrifice perspective in studying consumers’ unwillingness to adopt interactive insurance products.