The effects of technological and digital development on the insurance industry - A multiple case study of the Swedish insurance industry
(2020) EKHS34 20201Department of Economic History
- Abstract (Swedish)
- In recent years, the insurance industry has undergone a transformation where new technologies and digitalization has impacted the competitive structure of the industry and the value chain. The competitive structure in its turn may affect the incentives to innovate. This thesis attempts to examine how technological development and digitalization has affected different parts of the value chain in the Swedish insurance industry in the last twenty years. Further, the study is an attempt to examine the relationship between competition and innovation in the Swedish insurance industry in the last two decades. To accomplish the objectives of the thesis, a deductive approach with an exploratory design of qualitative nature was used, aided by a... (More)
- In recent years, the insurance industry has undergone a transformation where new technologies and digitalization has impacted the competitive structure of the industry and the value chain. The competitive structure in its turn may affect the incentives to innovate. This thesis attempts to examine how technological development and digitalization has affected different parts of the value chain in the Swedish insurance industry in the last twenty years. Further, the study is an attempt to examine the relationship between competition and innovation in the Swedish insurance industry in the last two decades. To accomplish the objectives of the thesis, a deductive approach with an exploratory design of qualitative nature was used, aided by a multiple case study. The data was collected from semi structured interviews and analyzed using coding. The findings of the study suggest that new technologies and digitalization have greatly impacted the competitive structure of the insurance industry due to new players entering the market by exploiting technologies and digitalization, and niche players entering different areas of the value chain. The digitalization and technological development have further impacted the value chain due to increased customer demands and opportunities for new technological and digital solutions. Products and product offerings, interaction with customers and customer behavior, and automation of processes along the value chain are impacted in various ways by new technologies and digitalization. It is also indicated that the increased competition in its turn also has affected the incentives to innovate. The results imply that the insurance industry has had a U-shaped relationship between innovation and competition over the last twenty years. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9026715
- author
- Olsson, Erica LU
- supervisor
-
- Olof Ejermo LU
- organization
- course
- EKHS34 20201
- year
- 2020
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- Digitalization, technological development, insurance industry, value chain, innovation, competition, market structure.
- language
- English
- id
- 9026715
- date added to LUP
- 2020-10-15 08:27:46
- date last changed
- 2020-10-15 08:27:46
@misc{9026715,
abstract = {{In recent years, the insurance industry has undergone a transformation where new technologies and digitalization has impacted the competitive structure of the industry and the value chain. The competitive structure in its turn may affect the incentives to innovate. This thesis attempts to examine how technological development and digitalization has affected different parts of the value chain in the Swedish insurance industry in the last twenty years. Further, the study is an attempt to examine the relationship between competition and innovation in the Swedish insurance industry in the last two decades. To accomplish the objectives of the thesis, a deductive approach with an exploratory design of qualitative nature was used, aided by a multiple case study. The data was collected from semi structured interviews and analyzed using coding. The findings of the study suggest that new technologies and digitalization have greatly impacted the competitive structure of the insurance industry due to new players entering the market by exploiting technologies and digitalization, and niche players entering different areas of the value chain. The digitalization and technological development have further impacted the value chain due to increased customer demands and opportunities for new technological and digital solutions. Products and product offerings, interaction with customers and customer behavior, and automation of processes along the value chain are impacted in various ways by new technologies and digitalization. It is also indicated that the increased competition in its turn also has affected the incentives to innovate. The results imply that the insurance industry has had a U-shaped relationship between innovation and competition over the last twenty years.}},
author = {{Olsson, Erica}},
language = {{eng}},
note = {{Student Paper}},
title = {{The effects of technological and digital development on the insurance industry - A multiple case study of the Swedish insurance industry}},
year = {{2020}},
}