Location
Online
Event Website
https://hicss.hawaii.edu/
Start Date
3-1-2023 12:00 AM
End Date
7-1-2023 12:00 AM
Description
Automotive insurance is undergoing digital transformation that exploits new forms of big data and Artificial Intelligence (AI) systems. Geo-spatial data from GPS and telematics systems enables innovative risk modelling to evaluate driver behaviour and leads to the creation of new insurance services and novel insurance business models. A research framework is proposed to analyse AI-enabled business models and applied to a detailed case analysis of behavioural insurance in HUK-COBURG. The results illustrate the application of geo-spatial data in an insurance context and demonstrate the utility of the research framework to analyse new AI-enabled business models. The analysis identifies important implementation issues and shows that the strategic logic, regulatory and ethical context are important elements of business models. The empirical analysis reveals the strategic properties and effects of the data flywheel concept, which has general applicability. The theory framework and empirical results have important implications for other markets and theoretical contexts.
Recommended Citation
Holland, Christopher and John, Daniel, "HUK-COBURG: The Implementation of an AI-Enabled Behavioural Insurance Business Model using Geo-Spatial Data" (2023). Hawaii International Conference on System Sciences 2023 (HICSS-56). 4.
https://aisel.aisnet.org/hicss-56/li/research/4
HUK-COBURG: The Implementation of an AI-Enabled Behavioural Insurance Business Model using Geo-Spatial Data
Online
Automotive insurance is undergoing digital transformation that exploits new forms of big data and Artificial Intelligence (AI) systems. Geo-spatial data from GPS and telematics systems enables innovative risk modelling to evaluate driver behaviour and leads to the creation of new insurance services and novel insurance business models. A research framework is proposed to analyse AI-enabled business models and applied to a detailed case analysis of behavioural insurance in HUK-COBURG. The results illustrate the application of geo-spatial data in an insurance context and demonstrate the utility of the research framework to analyse new AI-enabled business models. The analysis identifies important implementation issues and shows that the strategic logic, regulatory and ethical context are important elements of business models. The empirical analysis reveals the strategic properties and effects of the data flywheel concept, which has general applicability. The theory framework and empirical results have important implications for other markets and theoretical contexts.
https://aisel.aisnet.org/hicss-56/li/research/4