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2021 | OriginalPaper | Buchkapitel

5. The Development of InsurTech in Europe and the Strategic Response of Incumbents

verfasst von : Ornella Ricci, Francesca Battaglia

Erschienen in: Disruptive Technology in Banking and Finance

Verlag: Springer International Publishing

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Abstract

The fourth industrial revolution (technological innovation) is transforming business models and enabling new ways of communication and information sharing in the insurance sector. New challenges emerge, attributable to major changes in customer needs and demands and to the increasing use of new technologies. This chapter explores the impact of technological innovation within the insurance sector and discusses how technological innovation is strongly impacting all phases of the insurance value chain, providing new opportunities and posing new risks. The second half of the chapter provides an empirical study which evaluates how stock markets react to the announcement of incumbents’ investments in InsurTech start-ups.

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Fußnoten
1
Dranev et al. (2019) and Hornuf et al. (2020) are both cross-country studies covering also Europe. There are also studies considering one single country (e.g., Takeda et al. [2021] dealing with the Japanese case).
 
2
We believe it is still too early for assessing the impact of COVID-19 pandemic on InsurTech investments.
 
3
When we collect deals from an insurance company, we also consider deals initiated by controlled companies specifically devoted to private equity and venture capital investments (for example, Axa Venture Partners).
 
4
Next Insurance is a US based company providing an online insurance marketplace for small businesses and entrepreneurs, offering general liability, professional liability, workers’ compensation and other types of insurance policies.
 
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Metadaten
Titel
The Development of InsurTech in Europe and the Strategic Response of Incumbents
verfasst von
Ornella Ricci
Francesca Battaglia
Copyright-Jahr
2021
Verlag
Springer International Publishing
DOI
https://doi.org/10.1007/978-3-030-81835-7_5