Purpose Recent technological and digital developments have opened new avenues for customer data utilization in insurance services. One form of this data transformation is automated chatbots that provide convenient access to data leveraged through a discussion-like interface. The purpose of this paper is to uncover how insurance chatbots support customers’ value creation. Design/methodology/approach Three complementary theoretical perspectives – artificial intelligence, service logic, and reverse use of customer data – are briefly discussed and integrated into a conceptual framework. The suggested framework is further shown through illustrative case examples that characterize different ways of supporting customers’ value creation. Findings Chatbots represent a new type of interaction through which companies can influence customers’ value creation by providing them with additional resources. Based on the proposed conceptual framework and the illustrative case examples, four metaphors are identified that characterize how insurance chatbots can support customers’ value creation. Research limitations/implications The study is conceptual in nature, and the case examples are used for illustrative purposes. No representative data from those users who will eventually determine whether chatbots are of value was used. Practical implications Using the suggested framework, which is aligned with provider service logic, insurance companies can consider what kind of a role they wish to play in customers’ value-creating processes. Originality/value Automated chatbots provide convenient access to data leveraged through a discussion-like interface. This study is among the earliest to address their value-creating potential in insurance.

This paper aims to explore what kind of institutional barriers companies must overcome in order to innovate a new mobile payment service. Design/methodology/approach: A qualitative case study of mobile payment development in Finnish financial sector is applied to explore institutional factors affecting innovation in payment services. Findings: Institutional factors (cultural-cognitive, normative, and regulative) affect innovation of mobile payment services in highly institutionalized setting. In addition to defining those barriers, in this study we find that startups can use institutional barriers of traditional incumbents as levers for their own innovations. Research limitations/implications: The study deepens our current understanding of the culturalcognitive, normative and regulative factors affecting of new practices and service innovations in the highly institutionalized setting. Practical implications: Results of this research will help startups to find their levers as well as incumbents to identify the barriers for change. The change also means a transition from goodsoriented business model to service-and customer-dominant thinking. Originality/value: This research contributes to the discussion about FinTech as a phenomenon and broadens the general understanding of related change processes.

Fundamental internal and external changes coupled with digitalisation have enabled new market entrants, FinTechs, to innovate services, creating competitive solutions to incumbents' offering. The purpose of this article is to understand the service innovation approach of FinTech companies. The complexities of service innovation are explained with a theoretical concept of service innovation stack, which presents the multiple components needed for successful service innovation. The usefulness of this construct is observed with a longitudinal case study of 10 FinTech startup from Finland using interviews and other data. These are shown with a visual representation, which ties in the internal activities with the external ones and shows the interplay between them. With the representation of the service innovation stack, the service innovation within financial industry can be better understood and further developed. The authors further suggest that though the framework is based on cases from FinTech startups, it might be relevant also for the incumbents.

Fundamental internal and external changes coupled with digitalisation have enabled new market entrants, FinTechs, to innovate services, creating competitive solutions to incumbents' offering. The purpose of this article is to understand the service innovation approach of FinTech companies. The complexities of service innovation are explained with a theoretical concept of service innovation stack, which presents the multiple components needed for successful service innovation. The usefulness of this construct is observed with a longitudinal case study of 10 FinTech startup from Finland using interviews and other data. These are shown with a visual representation, which ties in the internal activities with the external ones and shows the interplay between them. With the representation of the service innovation stack, the service innovation within financial industry can be better understood and further developed. The authors further suggest that though the framework is based on cases from FinTech startups, it might be relevant also for the incumbents.

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