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InsurTech development: Evidence from Chinese media reports

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  • Cao, Siqing
  • Lyu, Hanjia
  • Xu, Xian

Abstract

As a new trend, InsurTech is shaking up every link of the traditional insurance industry chain. Facilitated by many factors such as capital investment, new technology development and the high penetration rate of e-commerce, China has become an important market for the development of InsurTech. This paper uses text mining technology and Python to analyze the word frequency of 25,662 InsurTech-related news reports from 2015 to 2019 in China. It also applies the term frequency-inverse document frequency (TFIDF) indicator to test the trends and features of InsurTech's development in China. Both word frequency and TFIDF show that InsurTech's media reports primarily focus on “insurance”, “finance”, and “science and technology”; their rankings change annually. “Blockchain” is the key technology for different years. Data is getting more and more attention. The evidence provided in this article has implications for global technological innovation in insurance. To our best knowledge, this is the first large-scale Chinese media reports-based study to investigate the characteristics of the China InsurTech development.

Suggested Citation

  • Cao, Siqing & Lyu, Hanjia & Xu, Xian, 2020. "InsurTech development: Evidence from Chinese media reports," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    • Handle: RePEc:eee:tefoso:v:161:y:2020:i:c:s0040162520311033
    DOI: 10.1016/j.techfore.2020.120277
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    References listed on IDEAS

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    Cited by:

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    3. Marco Bellucci & Damiano Cesa Bianchi & Giacomo Manetti, 2021. "A literature review on blockchain in accounting research," Working Papers - Business wp2021_04.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
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    6. Merello, Paloma & Barberá, Antonio & la Poza, Elena De, 2022. "Is the sustainability profile of FinTech companies a key driver of their value?," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    7. Chang, Vincent Y.L., 2023. "Do InsurTech startups disrupt the insurance industry?," Finance Research Letters, Elsevier, vol. 57(C).

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