IDEAS home Printed from https://ideas.repec.org/h/spr/prbchp/978-3-030-57953-1_11.html
   My bibliography  Save this book chapter

InsurTech in CEE Region—Where Are We?

In: Global, Regional and Local Perspectives on the Economies of Southeastern Europe

Author

Listed:
  • Jacek Lisowski

    (Poznań University of Economics and Business)

  • Anna Chojan

    (Poznań University of Economics and Business)

Abstract

The impact of information technology innovation on development of financial markets is one of the most important trends observed in recent years. Enterprises offering such innovative solutions in finances are called FinTech (financial technology), and the branch of FinTech which focuses on insurance only is called InsurTech. Some of the most important activities that InsurTech try to improve are risk detection and risk prevention, insurance distribution or claims management process, personalization and development of on-demand insurance. The largest investments in InsurTechs are borne by countries like the USA, China, the United Kingdom or Germany, but we can observe activity in this field on smaller insurance markets too, especially in Central and Eastern European (CEE Region) countries such as Poland. The aim of this article is to review InsurTechs observed on the Polish insurance market and indicate the areas in which new technologies affect the shape of this market. The paper describes what Polish InsurTech market looks like in comparison to worldwide tendencies in this field. The conditions for InsurTech development in Poland in the face of the legal framework and act of the supervisor authority are presented. The paper describes the most important characteristics of Polish insurance markets, level of its digitization and outlines how insurance companies deal with new technologies, what solutions they introduce in their own structures and how the cooperation between InsurTech and insurance companies looks. The observed applications of new technologies on the Polish insurance market are described and the chosen InsurTech companies are briefly characterized. In the summary, the main trends in new technologies used by InsurTech are presented. The authors portray the potential future of InsurTech in Poland and compare it to technological development levels observed in other markets. The research methods adopted in the article include literature studies, analysis of information from online sources and inference.

Suggested Citation

  • Jacek Lisowski & Anna Chojan, 2021. "InsurTech in CEE Region—Where Are We?," Springer Proceedings in Business and Economics, in: Alexandra Horobet & Lucian Belascu & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Global, Regional and Local Perspectives on the Economies of Southeastern Europe, pages 173-186, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-57953-1_11
    DOI: 10.1007/978-3-030-57953-1_11
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Keywords

    FinTech; InsurTech; Insurance;
    All these keywords.

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:prbchp:978-3-030-57953-1_11. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.