scholarly journals An Acceptance Approach for Novel Technologies in Car Insurance

2020 ◽  
Vol 12 (24) ◽  
pp. 10331
Author(s):  
Nemanja Milanović ◽  
Miloš Milosavljević ◽  
Slađana Benković ◽  
Dušan Starčević ◽  
Željko Spasenić
Keyword(s):  
Technology Acceptance ◽  
Financial Services ◽  
New Technologies ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Balance Sheets ◽  
Novel Technologies ◽  
Use Of Technology ◽  
Facilitating Conditions ◽  
Car Insurance

Background: Unlike other financial services, technology-driven changes in the insurance industry have not been a vastly explored topic in scholarly literature. Incumbent insurance companies have hitherto been holding their positions using the complexity of the product, heavy regulation, and gigantic balance sheets as paramount factors for a relatively slow digitalization and technological transformation. However, new technologies such as car telematic devices have been creating a new insurance ecosystem. The aim of this study is to assess the telematics technology acceptance for insurance purposes. Methods: The study is based on the Unified Theory of Acceptance and Use of Technology (UTAUT). By interviewing 502 new car buyers, we tested the factors that affect the potential usage of telematic devices for insurance purposes. Results: The results indicate that facilitating conditions are the main predictor of telematics use. Moreover, privacy concerns related to the potential abuse of driving behavior data play an important role in technology acceptance. Conclusions: Although novel insurance technologies are mainly presented as user-driven, users (drivers and insurance buyers) are often neglected as an active party in the development of such technologies.

Effective Customer Support System of Life Insurance Companies

2014 ◽  
Vol 4 (2) ◽  
Author(s):  
Rajesh Srivastava ◽  
Dr. Preeti Sharma
Keyword(s):  
Life Insurance ◽  
Economies Of Scale ◽  
New Technologies ◽  
Insurance Industry ◽  
Integrated Approach ◽  
Customer Experience ◽  
Disruptive Innovation ◽  
Insurance Companies ◽  
Insurance Business ◽  
Strategic Imperative

Increased competition, new technologies and the shift in power from the provider to the customer have produced unrelenting pressure on life insurance business. The market forces point to one overwhelming strategic imperative: customer-focused strategy. Customers are willing to build long-term relationships based on trust and mutual respect with firms that provide a differentiated and personalized service offering. Over the past few years, life insurance industry responded to intensified competition and high customer attrition by entering each other’s markets to capture greater “wallet share” and ostensibly lower their economies of scale. The service delivery process is influenced by quality of personnel, information technology, internal processes, human resource practices, and even an institution’s own change orientation. Now a day’s customers are demanding seamless, multi-channel sales and service experiences. Simultaneously, other players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing life insurance companies to examine a more balanced, integrated approach to the customer experience and growth. This research, we analyze the need, preference and satisfaction of customers in life insurance business and provide perspective on how to improve the customer experience.

scholarly journals Nurses and the acceptance of innovations in technology-intensive contexts: the need for tailored management strategies

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Chiara Barchielli ◽  
Cristina Marullo ◽  
Manila Bonciani ◽  
Milena Vainieri
Keyword(s):  
Social Influence ◽  
Ad Hoc ◽  
New Technologies ◽  
Management Strategies ◽  
Technological Innovations ◽  
Utaut Model ◽  
Use Of Technology ◽  
The Social ◽  
Depth Analysis ◽  
Facilitating Conditions

Abstract Background Several technological innovations have been introduced in healthcare over the years, and their implementation proved crucial in addressing challenges of modern health. Healthcare workers have frequently been called upon to become familiar with technological innovations that pervade every aspect of their profession, changing their working schedule, habits, and daily actions. Purpose An in-depth analysis of the paths towards the acceptance and use of technology may facilitate the crafting and adoption of specific personnel policies taking into consideration definite levers, which appear to be different in relation to the age of nurses. Approach The strength of this study is the application of UTAUT model to analyse the acceptance of innovations by nurses in technology-intensive healthcare contexts. Multidimensional Item Response Theory is applied to identify the main dimensions characterizing the UTAUT model. Paths are tested through two stage regression models and validated using a SEM covariance analysis. Results The age is a moderator for the social influence: social influence, or peer opinion, matters more for young nurse. Conclusion The use of MIRT to identify the most important items for each construct of UTAUT model and an in-depth path analysis helps to identify which factors should be considered a leverage to foster nurses’ acceptance and intention to use new technologies (o technology-intensive devices). Practical implications Young nurses may benefit from the structuring of shifts with the most passionate colleagues (thus exploiting the social influence), the participation in ad hoc training courses (thus exploiting the facilitating conditions), while other nurses could benefit from policies that rely on the stressing of the perception of their expectations or the downsizing of their expectancy of the effort in using new technologies.

scholarly journals How customers’ offline experience affects the adoption of online banking

2016 ◽  
Vol 26 (5) ◽  
pp. 1072-1092 ◽  
Author(s):  
Antonia Estrella-Ramon ◽  
Manuel Sánchez-Pérez ◽  
Gilbert Swinnen
Keyword(s):  
Technology Acceptance ◽  
Diffusion Of Innovation ◽  
Financial Services ◽  
New Technologies ◽  
Online Banking ◽  
Adoption Process ◽  
Content Type ◽  
Parametric Survival Model ◽  
Self Service Technology ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of customers’ offline transaction behaviour in the form of loyalty and cross-buying on the adoption of self-service technology innovations by non-business customers in the context of online banking. Design/methodology/approach This study extends the Diffusion of Innovation Theory, as well as the Technology Acceptance Model adapted to describe and model individual customer observed behaviours in the pre-adoption stage of the adoption process. The Log-logistic parametric survival model is applied using panel data for 1,357 randomly selected new customers from a bank. Findings Significant differences arise among customers’ behaviours related to periodicity of interactions with the bank and quantity of products involved in the interactions, as well as convenience and risk of the interactions. The results corroborate that those customers who are more likely to adopt the online banking faster show an offline behavioural pattern more related to higher periodicity of interactions and convenience, rather than a high number of products involved in their interactions, the use of high-risk products or the maintenance of a higher average monthly liabilities. Originality/value While previous research explaining the process of adoption of the online channel has mainly focused on the analysis of customers’ attitudes (i.e. customers’ perceptions) and demographics, in this research an additional explanation is proposed using customers’ offline transaction behaviours. In addition, there is a considerable amount of research about the adoption of new technologies, but there is a scarcity of studies looking specifically at the financial services and banking industry.

scholarly journals Barriers to eHealth adoption in routine antenatal care practices: Perspectives of expectant mothers in Uganda – A qualitative study using the unified theory of acceptance and use of technology model

2021 ◽  
Vol 7 ◽  
pp. 205520762110644
Author(s):  
Hasifah Kasujja Namatovu ◽  
Tonny Justus Oyana ◽  
Henk Gerard Sol
Keyword(s):  
Maternal Health ◽  
Antenatal Care ◽  
Technology Acceptance ◽  
Unified Theory ◽  
Health Providers ◽  
Use Of Technology ◽  
Expectant Mothers ◽  
Care Practices ◽  
Facilitating Conditions ◽  
Routine Antenatal Care

Current empirical evidence suggests that successful adoption of eHealth systems improves maternal health outcomes, yet there are still existing gaps in adopting such systems in Uganda. Service delivery in maternal health is operating in a spectrum of inadequacy, hence eHealth adoption cannot ensue. This study set out to explore the challenges that impede eHealth adoption in women's routine antenatal care practices in Uganda. A qualitative approach using semi-structured interviews was employed to document challenges. These challenges were classified based on a unified theory of acceptance and use of technology constructs. One hundred and fifteen expectant mothers, aged between 18 and 49 years, who spoke either English or Luganda were included in the study that took place between January to May 2019. Thematic analysis using template analysis was adopted to analyse qualitative responses. Challenges were categorised based on five principal unified theories of acceptance and use of technology constructs namely: performance expectancy, effort expectancy, social influence, facilitating conditions and behavioural intention. Facilitating conditions had more influence on technology acceptance and adoption than the other four constructs. Specifically, the lack of training prior to using the system, technical support, computers and smart phones had a downhill effect on adoption. Subsequently, the cost of data services, internet intermittency, and the lack of systems that bridge the gap between mothers and health providers further hindered technology uptake. In conclusion, strategies such as co-development, training end-users, garnering support at the national and hospital levels should be advocated to improve user acceptance of technology.

scholarly journals Does Technology Readiness and Acceptance Induce more Adoption of E-Government? Applying the UTAUT and TRI on an Indonesian Complaint-Based Application

2020 ◽  
Vol 4 (1) ◽  
pp. 68
Author(s):  
Dhia Khalila Rinjany
Keyword(s):  
Technology Acceptance ◽  
Smart City ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Technology Readiness ◽  
Intention To Use ◽  
Technology System ◽  
Use Of Technology ◽  
Readiness Level ◽  
Facilitating Conditions

Most researches relating to the success of information and technology system application focus on two separate matters, namely technology readiness and technology acceptance. Both perspectives are used to observe how technology is adopted by users. However, very few studies test them both concurrently in a single research. This research, therefore, aims to conduct testing on the two concurrently without separating them. This article attempts to put two differing theories to the test, which are the Unified Theory of Acceptance and Use of Technology (UTAUT) and the Technology Readiness Index (TRI), in the context of e-government that is carried out via the Jakarta Smart City Program. To be more specific, the aJakarta Smart City Program analyzed in this study is the Qlue and CRM (Citizen Management Relationship) applications. The research method employed in this article is the quantitative method, wherein 225 respondents participated in this research to assess the level of technology readiness, the gathered data were subsequently processed by using the descriptive statistics analysis technique. Furthermore, 185 respondents also participated in observing how behavior influences the intention to use technology. These data were processed by using multiple linear regression analysis. Research results indicate that Jakarta SCR citizens’ technology readiness level can still be categorized as low and is identified as belonging to the Low Technology Readiness group, with a total TRI value of 2.7. Additionally, this research also shows that performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC) have positive and significant influence on the dependent variable, namely the behavioral intention to use the system (BIUS).

Industry 4.0 and Its Effects on the Insurance Sector

2020 ◽  
pp. 251-266
Author(s):  
İsmail Yıldırım
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
New Technologies ◽  
Production Systems ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Daily Lives ◽  
Insurance Sector ◽  
Organization And Management ◽  
Production Order

Industry 4.0 defines the fourth industrial revolution, a new level in the organization and management of products and production systems. This cycle consists of services that include the entire chain, including individualized customer requests, product development, production order, distribution, and recycling to the end user. One of the most important preconditions for the realization of the Industry 4.0 revolution is that companies have completed their digital transformations. New technologies and digitalization have brought a new understanding of insurance. Insurance companies are focused on four areas such as big data, artificial intelligence, internet of objects, and blockchain in the changing world. With the changing habits of consumers in their daily lives, new generation insurance needs emerged. The introduction of a new era shaped by the insurance industry with new products, services, competitors, and customer expectations will have various effects. This chapter describes how Industry 4.0 transforms the insurance sector.

scholarly journals A New Policy-Making Model for Development of National Insurance Services Market Based on Resource-Based Approach

2018 ◽  
Vol 11 (6) ◽  
pp. 127
Author(s):  
Mohammad Ayati Mehr ◽  
Mohammad Haghighi ◽  
Mohammad Ali Shah Hosseini ◽  
Assad Allah Kurd Naij
Keyword(s):  
Automobile Industry ◽  
Financial Services ◽  
Policy Making ◽  
Insurance Industry ◽  
Future Orientation ◽  
Insurance Companies ◽  
Theory Approach ◽  
Service Market ◽  
Balanced Development ◽  
Provision Of Services

Insurance industry is one of those industries providing financial services for people that couldn’t achieve a balanced development in provision of different services. In other words, insurance companies didn’t have a favorable performance as compared with other countries, except for provision of services for automobile industry. This actually pinpoints that the conditions for development and penetration into this market is not that much optimal. The main objective of this study is to provide a policy-making model for the development of service market under the light of a resource-based approach and investigation of model relations. The research method applied in this study is qualitative and it follows an applied objective. The population for this study are specified to the development of the model and interview was used to identify the criteria. The sample includes insurance companies’ managers and experts. These people have at least a bachelor’s degree and they have more than ten years of experience of managerial work. The number of experts included in this study include 20 people using saturation limit approach. The data were analyzed using grounded theory approach. The results showed that the main phenomenon was the concept of market-orientation. In addition, the causal conditions of this study include future-orientation and technological infrastructures. In intervention part of the study, dynamism of industry has been specified. In another part related to the context, culture has been identified. The identified strategies in the field of policy-making include innovativeness, entrepreneurialism, and a positive picture of the industry. Finally, the outcome of this model was the development of the market. The main suggestion of this study was to improve social culture. Besides, it will create a trusting mechanism with regard to policy-making and therefore the required atmosphere for the development and strengthening the market will be created.

scholarly journals Using big data to discriminate charged price in the Car Insurance Industry: Evidence from United States

2019 ◽  
Vol 2 (6) ◽  
Author(s):  
Doaa Salman Abdou
Keyword(s):  
Big Data ◽  
Qualitative Data ◽  
Insurance Industry ◽  
Age Groups ◽  
Secondary Data ◽  
Insurance Companies ◽  
Qualitative And Quantitative ◽  
Gender Based ◽  
Insurance Rates ◽  
Car Insurance

The purpose of this paper is to examine the gender-based discrimination in car insurance rates and whether the reasons provided by the car insurance companies for the different rates are valid or not. The paper studies the average annual premiums paid by men and women across different age groups from 16 years old to over 56 years old along with the percentage differences. Additionally, the concept of big data and how it is utilized by businesses to apply personalize price discrimination is investigated. The research design is conclusive and secondary data is used in both qualitative and quantitative forms. Qualitative data is collected from articles for the literature review and as for the quantitative data it is in the form of reports and surveys. The data shows that at lower age groups women pay less than men for car insurance but as the age increase men start paying less. The paper reaches a conclusion that gender is not necessarily a crucial risk-factor as the regular factors such as driving record can provided accurate risk determinants. 

scholarly journals Applying UTAUT and Fuzzy Dematel Methods: A New Legal Aid Administration System

2021 ◽  
Vol 8 (1) ◽  
pp. 24-36
Author(s):  
Jeremiah Kau Makokoane ◽  
Docter Joe Khosa
Keyword(s):  
Decision Making ◽  
Technology Acceptance ◽  
Fuzzy Decision Making ◽  
Direct Influence ◽  
Legal Aid ◽  
Fuzzy Dematel ◽  
Use Of Technology ◽  
The Social ◽  
Main Determinants ◽  
Facilitating Conditions

A hybrid UTAUT and Fuzzy Dematel Method is proposed in assessing the perception of accepting the new electronic Legal Aid Administration (eLAA) system by employees of Legal Aid South Africa. Information technology acceptance research has in many respects provided insight to decision-making on reviewing user acceptance. Legal Aid SA’s employees’ perception measured by their response of assessment is useful information on users’ attitude of accepting the eLAA system. Therefore, this study aims to measure the main determinants of intention and usage of the new system by users using the Unified Theory of Acceptance and Use of Technology (UTAUT). Further, we identify the cause-and-effect factors of acceptance and suggest the importance of factors using the Fuzzy Decision-Making Trial and Evaluation Laboratory (Dematel) method. The findings of this study suggest that the UTAUT dimensions of Performance Expectancy has high direct influence on acceptance of the eLAA system by Legal Aid SA employees than other variances. Alternatively, Effort Expectancy (EE) dimension is in the overall having the least power of direct influence on using the eLAA system. Notably, both the Social Influence and Facilitating Conditions have low direct influence in predicting the attitude of using the eLAA system. The findings of this study are useful in assisting the management of Legal Aid SA to gain insight into preferred ways to introduce automated systems that are perceived useful and acceptable amongst employees.

scholarly journals THE IMPACT OF THE INDUSTRIAL REVOLUTION 4.0 ON THE INSURANCE INDUSTRY AND WHETHER OF THE ASSETS AND INVESTMENTS PLAY A ROLE TO INVESTMENT YIELD?

2020 ◽  
Vol 8 (2) ◽  
pp. 345-351
Author(s):  
Iskandar Muda ◽  
Hafizah ◽  
Bunga Aditi ◽  
Hermansyur ◽  
Erlina
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Industrial Revolution ◽  
Insurance Industry ◽  
Least Square Method ◽  
Partial Least Square ◽  
Least Square ◽  
Insurance Companies ◽  
Insurance Company ◽  
The Impact

Purpose of the study: This research aims to know the influence of the Industrial Revolution 4.0 era on the insurance industry on the side of assets and Investment insurance companies to Investment Yield Sharia Insurance in Indonesia. Methodology: This type of research is explanatory research. This type of research data is secondary data sourced from the Financial Services Authority (OJK) Republic of Indonesia period in 2016-2107. The tool of analysis in this research is the Partial Least Square method using Smart PLS statistics. Main Findings: The results are an influence of Assets and Investment on Investment Yield on insurance companies in the Industrial Revolution 4.0 era. In the era of the industrial revolution, 4.0 potential insurance improve economic growth through several aspects, namely promote financial stability. Facilitate trade and commercial activities. mobilize domestic savings. Offering a variety of risk management on capital. Increase more efficient allocation of capital and reduce the risk of loss and can increase Investment Yield for shareholders and stakeholders. Applications of this study: This research is the observation only on Sharia Insurance Company sample while other issuers are not observed in this study and this research implies that sharia insurance issuers are growing and contributing to their shareholders and shareholder. Novelty/Originality of this study: The first time observing the Sharia Insurance industry industrial Revolution 4.0 era and previous research to observe in Sharia banking.

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