InsurTech Development and Insurance Inclusion

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Technology and Innovation".

Deadline for manuscript submissions: 31 December 2024 | Viewed by 1372

Special Issue Editor


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Guest Editor
Department of Finance, Risk Management and Banking, University of South Africa, Pretoria, South Africa
Interests: corporate finance; financial market; development; risk management and insurance; FinTech

Special Issue Information

Dear Colleagues,

This special issue will provide greater insights on the role of insurance technology (InsurTech) in fostering insurance inclusion and insurance market development. Arguably, access to finance is at the core of the realisation of the United Nations Sustainable Development Goal number 8 (SDG8) on Decent Work and Economic Growth. This goal seeks to promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all. Notwithstanding, that access to finance has improved over the years, the realisation of SDG8 remains elusive. It is conceivable that InsurTech  promotes the development of the insurance markets on both the supply-side (offering of innovative insurance products) and demand-side (facilitating insurance access to previously uninsured persons). Insurance market development in turn spurs economic growth which is central to the realisation of SDG8.

The advent of the Fourth Industrial Revolution (4IR) has seen the adoption of financial digital technologies by the financial services sector. This has revolutionised the financial services sector. This Special Issue explores how InsurTech has been adopted in the insurance industry to aid underwriting, marketing, risk management and claims processing. 

It is imperative to highlight that empirical research on InsurTech is still at a nascent stage. As such, there is a compelling need for further empirical and theoretical research to be conducted on the veracity of the claims that have been advanced in the above foregoing in order to ascertain whether InsurTech can foster insurance inclusion and promote insurance market development.

The areas of special interest for this Special Issue include but are not limited to the following:

  • InsurTech and Insurance inclusion
  • InsurTech development: challenges and opportunities
  • Digital disruption in the Insurance industry
  • InsurTech landscape
  • Telematics
  • InsurTech adoption and trust
  • InsurTech value chain
  • InsurTech and Firm performance
  • InsurTech and regulation
  • Insurance Market Development

Prof. Dr. Athenia B. Sibindi
Guest Editor

Manuscript Submission Information

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Keywords

  • InsurTech
  • insurance inclusion
  • insurance penetration
  • trust
  • insurance market development
  • telematics
  • digitisation

Published Papers (1 paper)

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Research

13 pages, 1345 KiB  
Article
Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda
by Archillies Kiwanuka and Athenia Bongani Sibindi
J. Risk Financial Manag. 2024, 17(3), 119; https://doi.org/10.3390/jrfm17030119 - 14 Mar 2024
Viewed by 914
Abstract
The purpose of this study was to establish whether digital literacy and insurtech adoption influence insurance inclusion in Uganda. Principally, we sought to determine whether insurtech adoption mediates the nexus between digital literacy and insurance inclusion. This study adopted a cross-sectional and quantitative [...] Read more.
The purpose of this study was to establish whether digital literacy and insurtech adoption influence insurance inclusion in Uganda. Principally, we sought to determine whether insurtech adoption mediates the nexus between digital literacy and insurance inclusion. This study adopted a cross-sectional and quantitative correlational approach. The study’s sample was 391 individuals who had used digital platforms such as mobile phones and computers to access insurance products and services in Uganda. Data were collected using structured survey questionnaires. Partial Least Squares Structural Equation Modelling (PLSEM) was employed to test the hypothesised relationships. The results demonstrated that both digital literacy and insurtech adoption significantly and positively influence insurance inclusion. We also found digital literacy to be a significant and positive determinant of insurtech adoption. Markedly, it was found that insurtech adoption mediates the association between digital literacy and insurance inclusion in Uganda. However, this study was conducted in a developing country with an underdeveloped insurance market and with low technological advancement. This may affect the generalisation of the study’s findings. This study’s novelty lies in establishing how digital literacy and insurtech adoption interact to influence insurance inclusion in Uganda. This is the first study to examine the effect of digital literacy and insurtech adoption on insurance inclusion. Full article
(This article belongs to the Special Issue InsurTech Development and Insurance Inclusion)
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