Digitization is without question one of the most significant and biggest megatrends of our time. It is changing all areas of people's lives, and at an extraordinary speed. Professional life in particular is changing dramatically. Generations are growing up with new possibilities and realities. Where companies used to use time cards and phones with dials, digital time recording systems and smartphones are now preferred.
This paper focuses on a subset of the megatrend, namely digitalization as it relates to the insurance industry. First, key aspects of digital transformation are described. Starting with a comprehensive definition of digitalization in general, as well as a description of the development in this area to date. In the course of the essential aspects, a presentation of extensive facts of the insurance industry and its specific challenges follows. This serves as a basis for the industry-specific issues to be addressed subsequently.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Key aspects of digitalization
- Definition and development of digitalization
- Essential facts of the insurers
- Challenges for the insurance industry
- Digitisation of the sales processes (application/contract)
- Analysis and possibilities of implementation
- Opportunities and risks
- Digitisation of claims settlement
- Analysis and possibilities of implementation
- Opportunities and risks
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This work explores the impact of digitalization on the insurance industry. It aims to analyze the changes and possibilities within the sales process and claims settlement, and to identify the opportunities and risks associated with this transformation.
- Definition and development of digitalization
- Essential facts of the insurance industry in Germany
- Challenges for the insurance industry in the digital age
- Digitization of sales processes and claims settlement
- Analysis of Insurtech and its potential impact
Zusammenfassung der Kapitel (Chapter Summaries)
The first chapter introduces the megatrend of digitalization and its impact on all areas of life, highlighting the changes in communication, information retrieval, and professional life. It emphasizes the importance of this topic and its relevance to the insurance industry.
The second chapter delves into key aspects of digitalization, providing a comprehensive definition and outlining its development. It then presents a detailed overview of the insurance industry in Germany, including essential facts and statistics, followed by a discussion of the challenges posed by digitalization to this sector.
The third chapter focuses on the digitization of sales processes, analyzing the possibilities of implementation and exploring the associated opportunities and risks. This chapter also examines the emergence of Insurtech as a new distribution channel and its significance for the industry.
The fourth chapter examines the digitization of claims settlement, analyzing its implementation and the potential opportunities and risks. It explores the use of new app applications in this area and the potential impact of digitalization on customer experiences.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this work include digitalization, insurance industry, sales processes, claims settlement, Insurtech, customer experience, opportunities, and risks. The text analyzes the impact of these factors on the insurance sector and its adaptation to the digital age.
- Quote paper
- Anonym (Author), 2017, Digitalization in the insurance industry. An analysis, Munich, GRIN Verlag, https://www.grin.com/document/1169234
