Download pdf
Research on Digital Transformation in the Insurance Industry
- 1 Shandong Technology and Business University
* Author to whom correspondence should be addressed.
Abstract
In recent years, the global digital economy has flourished, and the industry disruption and opportunities brought by digital technology innovation have made digital transformation a common strategic choice for all countries. If the application of new technologies in the insurance industry in the past mainly focused on the cloudization of the underlying IT infrastructure and the Internetization of the upper layer of insurance sales, the digital transformation of the insurance industry today focuses more on the application of new technologies such as big data, artificial intelligence, and the Internet of Things to promote the innovation of insurance products and the optimization of business processes. Through the analysis of the traditional insurance industry and the different demands brought by different times, this paper intends to explore the way forward for the insurance industry in the era of digital economy, where digital transformation has become an inevitable trend in the development of China's insurance industry.
Keywords
insurance, digital transformation, digital economy
[1]. Promoting the 14th Five-Year Plan and 2035 Vision with High-Quality Development of Internal Audit: A Review of the Main Views of "Internal Auditors on the Two Sessions" [J]. China Internal Audit (05), 4-8 (2021).
[2]. Ganichev, N. A., Koshovets, O. B.: Studies on Russian Economic Development (2021).
[3]. Yin, H. Y., Yu, D.: Exploration of digital transformation in insurance industry [J]. Cooperative Economy and Technology (03), 62-63 (2021).
[4]. Digital Transformation of Insurance Industry Research Report by China Internet Finance Association and PricewaterhouseCoopers (2020).
[5]. Wu, Z. M.: Reflections on the digital transformation of the insurance industry: China Pacific Insurance Group Co. as an example [J]. Insurance Theory and Practice (07), 23-32 (2016).
[6]. Miao, L.: Research on digital strategy transformation path of insurance companies [J]. Insurance Research (04), 57-65 (2019).
[7]. Deng, X. Y., Yu, B.: Vice Minister of China Taibao Group: Digital Transformation and Upgrading Speeds Up Taibao Technology to Construct Technology Application Eco-chain [N]. Securities Times, 2022-03-01(A05).
[8]. Yao, Q. Tang, H. J., Boadu, F., Xie, Y.: Journal of the Knowledge Economy (2022).
[9]. Zhang, R. Z., Wu, Y. Y.: Research on the development of modern insurance industry in the context of digital economy [J]. Southwest Finance (07), 91-102 (2022).
[10]. Eckert, C., Eckert, J., Zitzmann, A.: The status quo of digital transformation in insurance sales: an empirical analysis of the german insurance industry. ZVersWiss 110, 133-155 (2021).
Cite this article
Wang,W. (2023). Research on Digital Transformation in the Insurance Industry. Advances in Economics, Management and Political Sciences,19,100-106.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
Disclaimer/Publisher's Note
The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of EWA Publishing and/or the editor(s). EWA Publishing and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content.
About volume
Volume title: Proceedings of the 2023 International Conference on Management Research and Economic Development
© 2024 by the author(s). Licensee EWA Publishing, Oxford, UK. This article is an open access article distributed under the terms and
conditions of the Creative Commons Attribution (CC BY) license. Authors who
publish this series agree to the following terms:
1. Authors retain copyright and grant the series right of first publication with the work simultaneously licensed under a Creative Commons
Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this
series.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the series's published
version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial
publication in this series.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and
during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See
Open access policy for details).