Contracting, Pricing, and Data Collection Under the AI Flywheel Effect

Gürkan, Hüseyin; Véricourt, Francis de

doi:10.2139/ssrn.3566894

Cited by 1 publication

(1 citation statement)

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“…The diagram shows the content of the individual business activities (e.g., an event such as market discontinuity, an action such as develop behavioural insurance product, experiment as part of the R&D, acquire new customers), and the inter-relationships between them, i.e., the structure of the business model. This is a dynamic model because it partly captures the passage of time and therefore evolution, vide the circular connections between activities within the area that is labelled 'AI data flywheel' [36] and also indicates the possible emergence of a new kind of insurance digital platform [37].…”

Section: The Data Flywheel Conceptmentioning

confidence: 99%

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

Holland,

John

2023

Proceedings of the Annual Hawaii International Conference on System Sciences

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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.

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Section: The Data Flywheel Conceptmentioning

confidence: 99%