The Digital Insurance Paradigm: A Theoretical Exploration

The advent of technology has significant impact on the economy as a whole. Technology is attributed to the transition such as from traditional mode to online mode. Financial services industries such as banking, insurance are also witnessed huge growth in their businesses. Several technologies such as artificial intelligence, cloud computing, internet of things, block chain technology etc are gaining momentum these days. Insurance companies are using electronic mode as a alternate channels for communication, sales and distribution. The study focuses on the acceptance of electronic channels for availing digitalized insurance services by policyholders. The main aim of the study is to develop conceptual model for explaining user’s behavior intention towards adoption of digital life insurance services. The study has used unified theory of acceptance and use of technology model while incorporating some external variables such as trust, self efficacy etc. Attitude has also been used as a mediator for explaining the relation between other constructs and behavior intention.