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Insurance in the Industry 4.0 environment: A literature review, synthesis, and research agenda

Author

Listed:
  • Ritu Srivastava
  • Anupama Prashar
  • S.Veena Iyer

    (Management Development Institute Gurgaon, Gurgaon, India)

  • Piyush Gotise

    (Symbiosis Institute of Business Management Pune, Symbiosis International (Deemed University), Pune, India)

Abstract

Commodification and thinning margins of insurers have increased competition in the industry. Accessing accurate data and its meaningful analysis is becoming vital. The rise of digital technologies driven by the fourth industrial revolution (Industry 4.0) enables this but also poses new risks to insurers. The literature is evolving, and most reviews have focused on technologies or insurance value chain aspects. This systematic review of research on digital technologies in insurance discusses their benefits, enablers and inhibitors with specific reference to Industry 4.0–driven changes and identifies opportunities and imminent changes in the industry. This article discusses directions for future research. JEL Classification: M150 IT Management

Suggested Citation

  • Ritu Srivastava & Anupama Prashar & S.Veena Iyer & Piyush Gotise, 2024. "Insurance in the Industry 4.0 environment: A literature review, synthesis, and research agenda," Australian Journal of Management, Australian School of Business, vol. 49(2), pages 290-312, May.
    • Handle: RePEc:sae:ausman:v:49:y:2024:i:2:p:290-312
    DOI: 10.1177/03128962221132458
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