Technology and the Insurance Industry (eBook)

Antonella Cappiello is an Associate Professor in Financial Markets and Institutions, Department of Economics and Management at the University of Pisa where she teaches Insurance Technique, Economics in Insurance, and Management of Banking and Insurance Institutions classes.  Her current research focuses mainly on Solvency II; insurance service and customer relationship; risk management and control systems; strategic management and organization; operational risk management; and systemic risk. Additionally, she is the president of Banking, Finance and Financial Markets, and professor and member of the Directive Board of several Masters in Banking and Insurance Institutions.

Contents 5
List of Tables 7
List of Boxes 8
Chapter 1: Introduction 9
Chapter 2: Technology and Insurance 14
1 Introduction 14
2 The Impact of Information Technology on Insurance 15
3 Technology and Insurance Value Chain 19
3.1 Focus on Changes in Insurance Sales and Distribution 22
4 The Regulation of Insurance Distribution: The Directive 2016/97/EU 27
5 Conclusions 33
References 33
Chapter 3: Digital Disruption and InsurTech Start-ups: Risks and Challenges 36
1 Introduction 36
2 Digital Disruption 37
3 InsurTech Start-ups Activity 43
4 Is the Insurance Industry Disrupted? 49
5 Conclusions 53
References 54
Chapter 4: The New Frontiers of Insurance Distribution 58
1 Introduction 58
2 The Insurance Service and Its Distribution: Main Features 59
3 The Insurance Delivery System 62
4 Technological Innovation and Evolution of Distribution Channels 65
5 Innovative Forms of Insurance Distribution 70
5.1 Price Comparison Websites 71
5.2 The Use of Mobile Apps: Trends and Perspectives 74
6 Conclusions 76
References 78
Chapter 5: InsurTech and Customer Relationship 81
1 Introduction 81
2 Technological Innovation and Evolution of Customer Relationship 82
3 Customer Loyalty and Direct Marketing 85
3.1 Direct Marketing Tools 87
3.2 Direct Marketing Opportunities and Limitations 90
4 Customer Relationship Management and Social Media Strategy 95
5 Conclusions 100
References 101
Chapter 6: Survey on the Digitised Insurance Distribution in Europe and USA 104
1 Introduction 104
2 The Insurance Distribution Channels in the Main Industrialised Countries 105
3 The Choice of the Survey Sample 108
4 The Customer Relationship 110
5 Results Analysis and Assessment 114
6 Conclusions 117
Appendix 119
References 119
Index 121