• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
IJTEF 2021 Vol.12(5): 138-143 ISSN: 2010-023X
DOI: 10.18178/ijtef.2021.12.5.708

Digital Transformation in the Property and Casualty Insurance Industry

Ziboud Van Veldhoven, Anas Alaswad, Sean Barrett, Mark Raymond Robinson, and Jan Vanthienen

Abstract—Digital transformation (DT) is becoming increasingly vital for companies as digital technology becomes more integral in society. Although significant literature exists on DT, scant attention has been paid to its impact on the private and casualty (P&C) insurance industry. In this study, a mixed-method approach was used to explore the impact and maturity of DT in the P&C insurance sector by analyzing the literature, industry reports, and conducting an online questionnaire with 13 P&C executives in Belgium, South Africa, and The United States. The study finds that that DT impacts every primary activity of the P&C insurance value chain with various maturity levels. We also report on emerging technologies and their maturity or implementation stage in our sample. These findings can help to foster an understanding of DT in the P&C insurance industry.

Index Terms—Digitalization, digital transformation, insurance.

The authors are with KU Leuven, Leuven, 3000 Belgium (e-mail: ziboud.vanveldhoven@kuleuven.be, anas.alaswad@student,kuleuven.be, sean.berrett@student.kuleuven.be, mark.robinson@student.kuleuven.be, jan.vanthienen@kuleuven.be).

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Cite: Ziboud Van Veldhoven, Anas Alaswad, Sean Barrett, Mark Raymond Robinson, and Jan Vanthienen, "Digital Transformation in the Property and Casualty Insurance Industry," International Journal of Trade, Economics and Finance vol.12, no.5, pp. 138-143, 2021.

Copyright © 2021 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

 

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