INSURTECH DAN NEW ISLAMIC INSURANCE MODEL: STUDI KASUS SHARING CLAIM DI LAKA BICYCLE INSURANCE, LONDON

Pertumbuhan kontribusi premi asuransi syariah di Indonesia pada beberapa tahun terakhir sudah mulai mengalami penurunan dan titik jenuh, hal ini akan terus berlanjut sekiranya industri asuransi syariah tidak melakukan terobosan baru, Insurtech dan Skema model baru merupakan salah satu strategi yang dapat dilakukan untuk kembali meningkatkan pangsa pasar di Indonesia. Inovasi dan terobosan baru adalah di bidang insurtech, yaitu salah satu pengembangan teknologi di asuransi dengan skema dan model-model baru, salah satu model baru adalah sharing claim yang saat ini sudah mulai dijadikan salah satu alternatif model asuransi syariah di masa depan. Skema sharing claim ini merupakan konsep asuransi syariah berbasis komunitas dengan teknologi, sehingga nasabah dapat membayar premi dengan lebih murah. Tujuan penelitian ini adalah untuk menganalisis strategi pengembangan model claim sharing  dengan studi kasus Laka Bicycle Insurance di London. Penelitian ini menggunakan metode penelitian deskriptif analisis dengan pendekatan kualitatif. Kesimpulan penelitian ini adalah bahwa strategi pengembangan insurtech dan model claim sharing sangat berpotensi meningkatkan pangsa pasar asuransi syariah di Indonesia saat ini, seperti yang telah berhasil dijalankan oleh Laka Bicycle Insurance di London

Insurtech e a sua influência na aferição do risco

O domínio da tecnologia promete transformar os serviços financeiros, conferindolhes valor que os recursos humanos não conseguem atingir. Neste sentido, propomos com o nosso trabalho, um estudo relativo à incrementação da tecnologia no mercado financeiro enquanto recurso para a disrupção dos seus modelos de negócio, em especial, no setor dos seguros. Para tanto, analisaremos as tecnologias-chave da Insurtech, confrontando esta nova realidade com os métodos de aferição do risco praticados e a sua positivação no ordenamento jurídico português, que ainda se apoia de forma imperativa nas declarações iniciais do tomador do seguro, demonstrando como esta disrupção do mercado segurador poderá transformar o risco. Por fim, analisando alguma regulação que já é imposta a esta figura e o seu panorama em Portugal, tentaremos demostrar como estão a ser encetados esforços para que haja uma equiparação destes agentes com os seguradores tradicionais, referindo ainda alguns exemplos internacionais de regimes regulatórios promotores de inovação, como forma de incentivo à sua prática no nosso ordenamento.The ascendance of technology promises to transform financial services, giving them the value that human resources can not achieve. In this sense, we propose with our work a study about the increase of technology in the financial market as a resource for the disruption of its business models, especially in the insurance sector. To do so, we will analyze key Insurtech’s technologies, confronting this new reality with risk Assessment methods practiced today and its positivation in the portuguese legal system, which still relies imperatively on the initial statements of the policyholder, demonstrating how this technological increment can transform risk. Additionaly, by analyzing some regulation that is already imposed on this reality and its state in Portugal, we will try to demonstrate what efforts are being made to equate these agents with traditional insurers, while also referring to some international examples of regulatory regimes that promote innovation, as a way of encouraging their practice in our legal system

Economics of Data Systematic Review for Planning Strategies in the InsurTech industry

The knowledge of data enables exploring how value is created from data. Organizations’ strategic planning becomes easier if the value of data is understood and adopted. Unless managers know how to use data, its exploitable value remains limited. Previous studies assessed either data dimensions such as volume, variety, velocity, veracity and granularity, or data management processes. However, many of these topics have been treated with a technical approach and only a few focused on the data value in management, strategy, and planning. The ubiquitous of data has allowed insurance incumbents and startups to exploit technologies, from which InsurTech, leveraging a unique data-driven proposition and often gaining a competitive advantage. The paper aims to explore the economics of data, enabling to strategically plan data management practices. It contributes to the management and strategy literature with an evidence-based systematic literature review that embraces the value generated by knowing data sources, data types, extended data dimensions, analyzes enabling technologies, and extends data management practices for reaching organizations’ objectives in the InsurTech empirical context. In addition to further avenues of research, it provides managers with a theoretical data-valorization framework for data strategic planning, and institutions an overview for guiding the digital transformation. The novelty of this paper is the comprehensive focus on the economics of data at the intersection between traditional and emerging business models.The knowledge of data enables exploring how value is created from data. Organizations’ strategic planning becomes easier if the value of data is understood and adopted. Unless managers know how to use data, its exploitable value remains limited. Previous studies assessed either data dimensions such as volume, variety, velocity, veracity and granularity, or data management processes. However, many of these topics have been treated with a technical approach and only a few focused on the data value in management, strategy, and planning. The ubiquitous of data has allowed insurance incumbents and startups to exploit technologies, from which InsurTech, leveraging a unique data-driven proposition and often gaining a competitive advantage. The paper aims to explore the economics of data, enabling to strategically plan data management practices. It contributes to the management and strategy literature with an evidence-based systematic literature review that embraces the value generated by knowing data sources, data types, extended data dimensions, analyzes enabling technologies, and extends data management practices for reaching organizations’ objectives in the InsurTech empirical context. In addition to further avenues of research, it provides managers with a theoretical data-valorization framework for data strategic planning, and institutions an overview for guiding the digital transformation. The novelty of this paper is the comprehensive focus on the economics of data at the intersection between traditional and emerging business models

Finanzas personales y su relación con el estrés laboral

The aim of the study was to analyze the relationship between personal finances and work stress, as well as to determine the factors that influence this relationship. As a method, a qualitative approach was used and documentary analyses of thirty articles, theses and reports on personal finance and work stress from the period 2018-2022 were conducted. The results of the studies analyzed suggest that there is an important connection between personal finances and work stress, which would be influenced by factors such as financial education, financial planning, work overload, lack of autonomy and labor conflict. For this reason, it is recommended that companies implement financial education programs and promote a healthy work environment to reduce economic stress and improve the ability to manage economic resources.El objetivo del estudio fue analizar la relación entre las finanzas personales y el estrés laboral, así como determinar los factores que influyen en dicha relación. Como método, se utilizó un enfoque cualitativo y se realizaron análisis documentales de treinta artículos, tesis e informes sobre finanzas personales y estrés laboral del periodo 2018-2022. Los resultados de los estudios analizados sugieren que existe una conexión importante de las finanzas personales con el estrés laboral, la cual sería influenciada por factores como la educación financiera, la planificación financiera, la sobrecarga de trabajo, la falta de autonomía y el conflicto laboral. Por este motivo, se recomienda que las empresas implementen programas de educación financiera y promuevan un ambiente laboral saludable para reducir el estrés económico y mejorar la capacidad de manejo de los recursos económicos

Digital Feedback for Digital Work? Affordances and Constraints of a Feedback App at InsurCorp

Little is known about how digital work shapes the exchange of performance feedback, even though today’s digital and global world demands for more continuous feedback than annual reviews. This research investigates a feedback app in a naturalistic context within a globally leading financial service corporation (InsurCorp). Drawing on malleability and voluntary participation, the app offers possibilities to send and request feedback between employees. Rich contextual insights from a multinational pilot study with 568 users are gained by triangulating qualitative data from 21 semi-structured interviews and69 feedback app user reviews with usage data. Anchored in the theory of affordances, we provide insights on use practices and find that the app affords operational-level feedback exchange on specific subjects, while general feedback on sensitive topics is preferably exchanged in person. To understand actualization facilitators and barriers, we take a social-technical systems perspective to elaborate contextual factors that influence the individual’s actualization decision

HUK-COBURG: The Implementation of an AI-Enabled Behavioural Insurance Business Model using Geo-Spatial Data

Automotive insurance is undergoing digital transformation that exploits new forms of big data and Artificial Intelligence (AI) systems. Geo-spatial data from GPS and telematics systems enables innovative risk modelling to evaluate driver behaviour and leads to the creation of new insurance services and novel insurance business models. A research framework is proposed to analyse AI-enabled business models and applied to a detailed case analysis of behavioural insurance in HUK-COBURG. The results illustrate the application of geo-spatial data in an insurance context and demonstrate the utility of the research framework to analyse new AI-enabled business models. The analysis identifies important implementation issues and shows that the strategic logic, regulatory and ethical context are important elements of business models. The empirical analysis reveals the strategic properties and effects of the data flywheel concept, which has general applicability. The theory framework and empirical results have important implications for other markets and theoretical contexts

Opportunities for Reducing Expenses through Digital Innovation: The Case of an Insurance Company

Operational inefficiencies not only affect the quality of a company\u27s offerings but also increase its overhead expenses. Insurance companies have some of the highest overhead costs, which often are transferred to customers as premiums for insurance products. While companies are adopting digital innovation to reduce expenses by optimizing their operational functions, not all companies are ready for the digital transformation journey, which risks their existence. The unreadiness exists despite evidence that digital innovation has many potential benefits to these companies. Nine participants from six business units, all with 133 employees, were interviewed for this study. This research uses a single, in-depth case study of an established insurance company to show how operational inefficiencies affect customers’ costs and how using digital innovation can reduce these expenses. The findings reveal that the insurer is still reliant on pre-digital methods to conduct business. This research amplifies the importance of adopting digital technologies, such as Artificial intelligence, Chatbot, Robotic Process Automation, Blockchain, and the Internet of Things into the insurance companies\u27 processes, leading to lower operational expenses and more affordable products and services for customers

Factores que afectan la explicación educativa del desempeño de la red de ventas en la industria de seguros iraní

The aim of this study was Meta-synthesis of factors affecting the explanation of sales network performance in the Iranian insurance industry. The method of this research using the data theory, which is one of the best research strategies, through which; Theory is based on the main concepts of the data. In this regard, the meta-combined method has been systematically used to collect and review previous studies and the foundation data method to provide a theoretical model. In the first stage, by integrating automatic and manual search strategies, 25 related research articles published in the scope of sales network performance in the insurance industry in the period 2009 to 2018 is covered for English articles and 2011 to 2018 for Persian articles. In the final stage, after implementing the proposed steps of Glaser and Strauss, the proposed theoretical model is presented. The results of the research obtained from the first stage have shown that psychological and behavioral factors have the highest frequency in previous studies and have paid the most attention, which in fact focuses studies on empowering human resources active in the insurance industry. According to the results individual factors related to representatives and factors related to the organization of representatives, central conditions including: performance of insurance agent, strategic conditions including: factors related to central insurance, prevailing context conditions included.El objetivo de este estudio fue la meta-síntesis de factores que afectan la explicación del desempeño de la red de ventas en la industria de seguros iraní. El método de esta investigación utilizando la teoría de datos, que es una de las mejores estrategias de investigación, a través de la cual; La teoría se basa en los conceptos principales de los datos. En este sentido, el método meta-combinado se ha utilizado sistemáticamente para recopilar y revisar estudios previos y el método de base de datos para proporcionar un modelo teórico. En la primera etapa, al integrar estrategias de búsqueda automática y manual, se cubren 25 artículos de investigación relacionados publicados en el alcance del desempeño de la red de ventas en la industria de seguros en el período 2009 a 2018 para artículos en inglés y de 2011 a 2018 para artículos persas. En la etapa final, luego de implementar los pasos propuestos por Glaser y Strauss, se presenta el modelo teórico propuesto. Los hallazgos de la investigación obtenidos de la primera etapa han mostrado que los factores psicológicos y conductuales tienen la mayor frecuencia en estudios previos y han prestado mayor atención, lo que de hecho enfoca estudios en el empoderamiento de los recursos humanos activos en la industria aseguradora. De acuerdo con los resultados factores individuales relacionados con los representantes y factores relacionados con la organización de los representantes, condiciones centrales que incluyen: desempeño del agente de seguros, condiciones estratégicas que incluyen: factores relacionados con el seguro central, condiciones del contexto predominante incluidas

Digital Transformation of the Banking Industry in Developing Countries

Purpose:  The study's objective is to test the impact of digital transactions on banking performance. Based on the previous research and the actual situations, it has been recognized that the critical role of digital banking is in developing the banking industry, especially in developing countries.   Theoretical framework:  In the next section, the study presents background information to promote the research. The digital transformation has changed how customers use financial services. This has pushed banks to adapt more quickly to the wave of digital transformation if they don't want to lose their valuable customer base.   Design/methodology/approach:  the methodology applied uses POOL, FEM, REM, and FGLS models to examine the impact of banking transactions made by digital technology on the bank's deposit and lending revenue. This article studies banking operations on digital platforms from 2012 to 2019 in developing countries.   Findings: The article's findings showed that digital banks' flexible products and services bring many benefits with a high level of interaction, such as supporting the relationship between customers and banks and improving operating revenue.   Research, Practical & Social implications: Practical implications enhanced the development potential of digital banking is relatively large, stemming from the market demand development orientation of the banking industry.   Originality/value: The paper's originality and value help banks invest in digital technology as the way forward to better serve their customers

aferição de risco e implicações para a privacidade e proteção de dados

This dissertation focuses on the analysis of the impact of technological developments derived from the digital revolution of the past decades on the insurance sector,specifically regarding the application of Big Data in risk assessment on the insurance contract and its disruptive nature when compared to traditional models. The possible negative impact of processing bulk data within the insurance sector will posteriorly be analysed, focusing on the implications that may arise in the privacy and data protection circle under GDPR, and thus examining the role of regulatory authorities in the process.A presente dissertação centra-se na análise do impacto, no setor segurador, do desenvolvimento tecnológico característico da revolução digital das últimas décadas, em especial no que respeita à aplicação de Big Data na aferição de risco no contrato de seguro e à disrupção que esta representa face aos modelos tradicionais. Procuraremos, numa segunda fase, analisar o possível efeito negativo do tratamento de dados em massa, no âmbito do setor segurador, nomeadamente as implicações que podem surgir no círculo da privacidade e proteção de dados, ao abrigo do RGPD, trazendo à discussão o papel das entidades reguladoras no processo