In what extent is InsurTech disrupting the traditional insurance business model, and what are the key factors driving the adoption of InsurTech solutions by both insurers and consumers ?
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- The once-stagnant insurance industry is experiencing a dynamic upheaval driven by the InsurTechs. Over the past years, these companies have transformed the sector by playing a fundamental role in leveraging technology and effectively addressing insurer and customer needs. The InsurTechs, are growing in a fast-paced environment and have to make their mark against established insurers who have been in the sector for several decades. Through a critical lens, this thesis analyses existing literature providing a strong basis for understanding the key technologies driving this transformation. Moving beyong theory, the research includes a comprehensive survey as well as targeted interviews, and a case study, offering valuable insights into the real-world adoption and impact of these technologies. The empirical research highlitghts several ways the InsurTechs are changing the traditional insurance business model The thesis aims to offer an understanding of the disruptive potential of InsurTech and its long-lasting influence on the future of the insurance industry. This research do not only shed light on the “What” of InsurTech disruption, but also delves into the “Why” by exploring the motivations driving both insurers and consumers to adopt InsurTech technologies.