Artificial Intelligence (AI) and Digital Transformation in the Insurance Market: A Case Study Analysis of BGL Group

Date
2022-01-04
Authors
Holland, Christopher
Contributor
Advisor
Department
Instructor
Depositor
Speaker
Researcher
Consultant
Interviewer
Journal Title
Journal ISSN
Volume Title
Publisher
Volume
Number/Issue
Starting Page
Ending Page
Alternative Title
Abstract
Artificial Intelligence (AI) is transforming the insurance industry and there are many examples in the business press and at industry conferences. However, there is a paucity of detailed conceptual analysis and evaluation of AI technology that places AI in a strategic context and considers how different AI applications fit together and form a coherent picture. In this paper, a detailed case study of BGL group, a leading European insurance firm, is presented. A general business process model of insurance companies is used to structure the analysis. Five AI applications are described using an insurance firm-customer data flow diagram, which illustrates the marketing impact of AI technology and shows the nature of the business value creation process. The results are generalized into an AI customer lifecycle model, which has broad applicability to digital transformation projects. The likely future direction of AI in insurance is outlined and further research opportunities are identified.
Description
Keywords
Electronic Marketing, artificial intelligence, business model, case study, customer lifecycle, data flow diagram, electronic marketing, insurance, value creation
Citation
Extent
10 pages
Format
Geographic Location
Time Period
Related To
Proceedings of the 55th Hawaii International Conference on System Sciences
Rights
Attribution-NonCommercial-NoDerivatives 4.0 International
Rights Holder
Email libraryada-l@lists.hawaii.edu if you need this content in ADA-compliant format.