Examining insurance companies’ use of technology for innovation

Lanfranchi, Davide; Grassi, L.

doi:10.1057/s41288-021-00258-y

Cited by 17 publications

(1 citation statement)

References 52 publications

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“…Other stakeholders are also contributing to the development of open finance: both corporate customers and individual consumers are increasingly expecting financial service providers to open their data for enhanced convenience and better experiences (Holland et al 2020 ). Likewise, Big Tech, FinTech and InsurTech players are embracing this trend through innovative services and offerings (Eling and Lehmann 2018 ; Lanfranchi and Grassi 2021 ). Moreover, industry experts consider the COVID-19 pandemic as a potential catalyst for further improving customer experiences and personalisation through open finance.…”

Section: Introductionmentioning

confidence: 99%

Framework for open insurance strategy: insights from a European study

Standaert

Muylle

2022

Geneva Pap Risk Insur Issues Pract

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While some consider open insurance to be a buzzword with more hype than substance, the underlying trend of open finance stimulates insurers to use digital technology to exchange data with third parties to realise process efficiencies and develop new products and channels. Based on a literature review and 30 interviews with industry experts in Europe, we define open insurance, identify its key drivers, and discuss the dimensions and performance impact of open insurance strategy. The combined insights can help executives develop a better understanding of open insurance and formulate an open insurance strategy that provides performance benefits to them, customers, and third parties.

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Section: Introductionmentioning

confidence: 99%