| Description |
1 online resource (xxiii, 528 pages) : illustrations (black and white) |
| Series |
Palgrave studies in financial services technology |
|
Palgrave studies in financial services technology
|
| Contents |
Intro -- Foreword -- Contents -- Abbreviations -- List of Figures -- List of Tables -- 1 Introduction -- 2 Industry 4.0 and Insurance 4.0 -- Introduction -- Industry 4.0 -- Main Components -- Soft -- Hard -- Significant Challenges -- Insurance 4.0 -- Insurance World -- First Industrial Revolution. Insurance 1.0 -- Second Industrial Revolution. Insurance 2.0 -- Third Industrial Revolution. Insurance 3.0 -- Fourth Industrial Revolution: Insurance 4.0 -- Insurance 4.0 Model -- Cybernetics -- Communication -- Control -- Cooperation -- Connection -- Cognition -- Coordination -- Conclusions |
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3 Business Model Canvas and Insurance 4.0 -- Introduction -- Business Model Literature -- Business Model Canvas-Structure and Components -- Value Propositions -- Customer Proximity -- Customer Partitions -- Place or Channels -- Platforms and Resources -- Essential Processes and Activities -- Partnerships and Collaboration -- Pricing and Revenues -- Payments for Costs and Investments -- Business Models, Strategy, and Competitive Advantage -- Application of the Model to the Insurance Industry -- Competitive Advantages -- Conclusions -- 4 Propositions of Value for the Customer in Insurance 4.0 |
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Introduction -- Insurance 4.0 and Value Network -- Empowerment of Customers -- Benefits and Challenges in Insurance 4.0 -- Loss Control -- Behavioral Change -- Risk Selection -- Shared Economy -- New Products to Add Value -- New Insurance Products Developed Based on the Technologies Used -- New Products Based on the Objectives -- On-Demand Insurance -- Usage-Based Insurance (UBI) -- Peer-to-Peer Insurance -- Cyber Insurance -- Parametric Insurance -- Business Interruptions Insurance -- Other Services -- Unit-Linked -- Conclusions -- 5 Proximity to the Customer in Insurance 4.0 -- Introduction |
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Value Proposition and Customer Proximity -- Customer Engagement -- Claims -- Consultant -- Customer Relationships Management 4.0 -- Direct Interaction of Insurance with Customers -- Customer Proximity Center -- The Evolution of the Call Center -- Model of the Characteristics of a Call Center Based on the Strategy of the Organization -- Persons -- Processes -- Structure -- Technology -- Assessing the Quality in a Call Center -- The Future of the Call Centers -- Conclusions -- 6 Partition of the Customers in Insurance 4.0 -- Introduction -- Customer Partition -- Millennials |
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The Impact of Technology -- Conclusions -- 7 Place or Channels in Insurance 4.0 -- Introduction -- Insurance 4.0 and Distribution -- Choice of the Channel for the Distribution of Insurance Products -- Direct Digital Channels -- Online Intermediaries for Insurance 4.0 -- Price Comparison Websites -- Value Comparison Websites -- Digital Brokers -- An Overview of the Italian Market -- The New Distribution Regulation: IDD-Insurance Distribution Directive -- Conclusions -- 8 Platforms for Insurance 4.0 -- Introduction -- Classification of the Platforms -- Architecture for the Platforms |
| Summary |
Industry 4.0 has spread globally since its inception in 2011, now encompassing many sectors, including its diffusion in the field of financial services. By combining information technology and automation, it is now canvassing the insurance sector, which is in dire need of digital transformation. This book presents a business model of Insurance 4.0 by detailing its implementation in processes, platforms, persons, and partnerships of the insurance companies alongside looking at future developments. Filled with business cases in insurance companies and financial services, this book will be of interest to those academics and researchers of insurance, financial technology, and digital transformation, alongside executives and managers of insurance companies. Bernardo Nicoletti is a Professor of Operations Management at Temple University, Rome, Italy. He also provides consultancy advice and coaching in Europe, Middle East, and Asia on ICT strategy, process improvement, and financial services. In his research, Bernardo has been particularly active in the application of the agile method and its tools to a variety of industries. He has authored 30 books on management and published 250 articles in domestic and international journals. He frequently speaks at international conferences |
| Notes |
1.Introduction.- 2.Industry 4.0 and Insurance 4.0.- 3.Business Model Canvas and Insurance 4.0.- 4.Propositions of Value for the Customer in Insurance 4.0.- 5.Proximity to the Customer in Insurance 4.0.- 6.Partition of the Customers in Insurance 4.0.- 7.Place or Channels in Insurance 4.0.- 8.Platforms for Insurance 4.0.- 9.Processes in insurance 4.0.- 10.Persons in insurance 4.0.- 11.Partnerships in insurance 4.0.- 12.Pricing in Insurance 4.0.- 13.Payments for Costs and Investments in Insurance 4.0.- 14.Insurance 4.0 and Digital Transformation.- 15.Future of Insurance 4.0 and Insurtech.- 16.Conclusions |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Description based on online resource; title from digital title page (viewed on January 15, 2021) |
| Subject |
Insurance.
|
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Insurance -- Technological innovations
|
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Insurance -- Data processing
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Insurance
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insurance.
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Insurance
|
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Insurance -- Data processing
|
| Form |
Electronic book
|
| ISBN |
9783030584269 |
|
3030584267 |
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