Analysis of actions and requirements for digital transformation in the development of life insurance

Document Type : Original Article

Authors
Mitra Ghanbarzadeh 1
Reyhaneh Fathi 2
1 Assistant Professor of Insurance Research Center, Tehran, Iran
2 Researcher of Insurance Research Center, Tehran, Iran
10.30495/jik.2025.23658
Abstract
The share of life insurance in the country's written premium is not favorable compared to the global average, and in this regard, the insurance industry should help increase the share of life insurance in the portfolio of insurance companies by considering solutions for the development of life insurance. These solutions can be in the form of modifying or revising traditional products and processes or using products and processes based on digital technologies. The purpose of this study is to systematize the digital actions required by insurance companies in the development of life insurance and identify the necessary requirements and infrastructure in the life insurance industry based on the study of libraries and then determine the importance and confirm the relationships between the indicators used by field study. The digital measures used in life insurance can be defined in the form of 6 general categories of life insurance product development, life insurance marketing, life insurance sales, life insurance underwriting, life insurance after-sales service, risk management and life insurance claims management. Requirements for digitalization of life insurance include legal and regulatory requirements, information technology requirements and manpower requirements. Based on the results of factor analysis, there is a direct relationship between actions and their high importance.
Keywords
Life Insurance
Digital Transformation
Artificial intelligence
Factor Analysis
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