Insurance as a Digital Ecosystem: Exploring New Horizons of Digitalization, Smart Business, and Global Competitiveness

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dc.contributor.authorBenetti, Karina
dc.contributor.authorBobojonov, Azizjon
dc.contributor.authorIzakova, Katarina
dc.contributor.authorEshov, Mansur
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2025-10-02T10:24:23Z
dc.date.available2025-10-02T10:24:23Z
dc.description.abstractThe insurance industry is undergoing a profound transformation driven by the integration of artificial intelligence (AI), big data analytics, the Internet of Things (IoT), blockchain, and cybersecurity frameworks. These innovations are not incremental improvements but are reconfiguring the insurance value chain into a digital ecosystem—an interconnected environment characterized by real-time data flows, algorithmic decision-making, and platform-based business models. Within this ecosystem, risk management is shifting from retrospective compensation towards predictive and preventive strategies, with telematics, wearables, and smart sensors enabling usage-based insurance. This paper examines the systemic impact of digitalization by analyzing the synergies among emerging technologies and their ethical, regulatory, and operational implications. AI enhances underwriting, fraud detection, and claims automation but raises concerns about bias and transparency. Big data expands predictive modelling and personalization while intensifying privacy and governance challenges. The study argues that digital transformation requires moving beyond isolated technology adoption towards the design of resilient and inclusive insurance ecosystems. By framing digitalization as a structural and societal paradigm shift, this paper contributes a comprehensive perspective for academics, practitioners, and policymakers seeking to understand and guide the future of insurance.en
dc.formattext
dc.identifier.doi10.15240/tul/009/lef-2025-01
dc.identifier.isbn978-80-7494-747-6
dc.identifier.urihttps://dspace.tul.cz/handle/15240/178023
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
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dc.relation.ispartofLiberecké ekonomické fórum 2025cs
dc.relation.ispartofLiberec Economic Forum 2025en
dc.subjectDigital Ecosystemen
dc.subjectInsurance Industryen
dc.subjectArtificial Intelligenceen
dc.subjectBig Data Analyticsen
dc.subjectBlockchainen
dc.subject.classificationG22
dc.subject.classificationG28
dc.subject.classificationO33
dc.titleInsurance as a Digital Ecosystem: Exploring New Horizons of Digitalization, Smart Business, and Global Competitivenessen
dc.typeproceeding paperen
local.accessopen
local.citation.epage24
local.citation.spage11
local.facultyFaculty of Economics
local.fulltextyes
local.relation.abbreviationLEFcs
local.relation.abbreviationLEFen
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