Digital transformation and disruption: threat or opportunity for the traditional insurance incumbents?

• Autor(a) principal: Greco, Angelica
• Data de Publicação: 2018
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/39067
• topic: Insurance industry; Digital disruption; Digital technologies; Business ecosystems; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

Digital technology often destroys value. What happens is, for some companies to become market winners and for others, digital technology turns to be the reason of their failure. There is one clear winner coming out from this battle: consumers. Traditional insurance business model seemed resilient from digital technology. However, this resilience is not lasting forever. Actually, it is now starting to collapse. Digital is transforming the way products and services are served to the customers and also the underlying business models. Big data and analytics, Internet of Things (IoT), Automated Driver Assistance Systems (ADAS) are just some of the forces analyzed in this research that are disrupting the traditional insurance market and that are slowly shaping a new competition landscape with the emergence of Ecosystems. This new market situation can turn to be a great opportunity for some insurance company, but as it will be explained in this thesis, the success will not be evenly shared. What will make the difference is the speed and decisive motivation at which incumbents will embrace and actuate the change.