Technology and the Insurance Industry Re-configuring the Competitive
The book analyzes the role of technology in the redefinition of the competitiveness of insurance markets. With a focus on the competitive challenges of InsurTech startup to the incumbent insurers, the book will discuss the strategic role of technology bot
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Antonella Cappiello
Technology and the Insurance Industry
Antonella Cappiello
Technology and the Insurance Industry Re-configuring the Competitive Landscape
Antonella Cappiello Department of Economics and Management University of Pisa Pisa, Italy
ISBN 978-3-319-74711-8 ISBN 978-3-319-74712-5 (eBook) https://doi.org/10.1007/978-3-319-74712-5 Library of Congress Control Number: 2018931930 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: Détail de la Tour Eiffel © nemesis2207/Fotolia.co.uk. Printed on acid-free paper This Palgrave Pivot imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Contents
1 Introduction 1 2 Technology and Insurance 7 1 Introduction 7 2 The Impact of Information Technology on Insurance 8 3 Technology and Insurance Value Chain 12 3.1 Focus on Changes in Insurance Sales and Distribution 15 4 The Regulation of Insurance Distribution: The Directive 2016/97/EU 20 5 Conclusions 26 References 26 3 Digital Disruption and InsurTech Start-ups: Risks and Challenges 29 1 Introduction 29 2 Digital Disruption 30 3 InsurTech Start-ups Activity 36 4 Is the Insurance Industry Disrupted? 42 5 Conclusions 46 References 47 4 The New Frontiers of Insurance Distribution 51 1 Introduction 51 2 The Insurance Service and Its Distribution: Main Features 52 3 The Insurance Delivery System 55 v
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Contents
4 Technological Innovation and Evolution of Distribution Channels 58 5 Innovative Forms of Insurance Distribution 63 5.1 Price Comparison Websites 64 5.2 The Use of Mobile Apps: Trends and Perspectives 67 6 Conclusions 69 References 71 5 InsurT
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