Entrepreneurship And Innovation In Automobile Insurance
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Entrepreneurship And Innovation In Automobile Insurance
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Author : Samuel P. Black
language : en
Publisher: Routledge
Release Date : 2019-09-30
Entrepreneurship And Innovation In Automobile Insurance written by Samuel P. Black and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-30 with Business & Economics categories.
Entrepreneurs play a central role in economic growth and development, but how they do so is the subject of considerable debate. This book explains that process through an historical case study of an automobile insurance entrepreneur, Samuel P. Black, Jr., and Erie Insurance, the company he helped build. It also recounts the largely untold history of American automobile insurance. One of this study's central themes is the role of innovation in the entrepreneurial process. The rise of Erie Insurance from a four-person enterprise in Erie, Pennsylvania, in 1925 to the fourteenth largest property-casualty insurer today was the result, in part, of Black's relentless push to innovate. His continual efforts to cut costs, develop new products, satisfy customers, increase sales, and improve operations, all contributed greatly to the company's growth. A second theme is the automobile's dramatic impact on modern America. Its takeover of mass transportation provided the basis for the development of the automobile insurance industry and created many of the opportunities that Black and Erie Insurance capitalized on. These themes combine in the history of Black and Erie Insurance to illuminate the dynamic process by which the cultural, social, economic, and technological environment creates opportunities that entrepreneurs and entrepreneurial firms exploit, and how entrepreneurial actions stimulate economic growth.
Profiting From Business Model Innovation
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Author : Panos Desyllas
language : en
Publisher:
Release Date : 2013
Profiting From Business Model Innovation written by Panos Desyllas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The emergent business model literature, revolving mainly around the mechanisms through which new business models create and deliver value, has left the value capture challenge under-explored. This paper examines how an incumbent firm profits from business model innovation through the study of Pay-As-You-Drive auto-insurance. Although business models do not warrant formal intellectual property (IP) protection, their constituent components (e.g. business methods and brands) often do. Drawing on the profiting-from-innovation framework, we find that formal and strategic IP protection methods play complementary roles. Initially, formal IP rights are used primarily as a defensive strategy, as vehicles for packaging and trading know-how, and most importantly as a means of “buying time” to build specialised complementary assets. Long-term competitiveness, however, depends on whether the innovator builds a strong position in specialised complementary assets and is capable of reconfiguring them over time in line with changes in the market environment. Thus, we explicate the complex mechanism and dynamic capability for capturing value from business model innovation.
The Insurtech Book
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Author : Sabine L.B VanderLinden
language : en
Publisher: John Wiley & Sons
Release Date : 2018-04-16
The Insurtech Book written by Sabine L.B VanderLinden and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-16 with Business & Economics categories.
The definitive compendium for the Insurance Digital Revolution From slow beginnings in 2014, InsurTech has captured US$7billion in investment since 2010 — a 10% annual compound growth rate is predicted until at least 2020. Three in four insurance companies believe some part of their business is at risk of disruption and understanding the trends, drivers and emerging technologies behind Insurance’s Digital Revolution is a business-critical priority for all growth-minded firms. The InsurTech Book offers essential updates, critical thinking and actionable insight — globally — from start-ups, incumbents, investors, tech companies, advisors and other partners in this evolving ecosystem, in one volume. For some, Insurance is either facing an existential threat; for others, it is a sector on the brink of transforming itself. Either way, business models, value chains, customer understanding and engagement, organisational structures and even what Insurance is for, is never going to be the same. Be informed, be part of it. Learn from diverse experiences, mindsets and applications of technologies Discover new ways of defining and grasping growth opportunities Get the inside track from innovators, disruptors and incumbents Be updated on the evolution of InsurTech, why it is happening and how it will evolve Explore visions of the future of Insurance to help shape yours The InsurTech Book is your indispensable guide to a sector in transformation.
Impact Of Self Driving Cars On Insurance Industry How Do External Challenges And Innovations Change The Insurance Market
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Author : Richard M. Ondimu
language : de
Publisher: GRIN Verlag
Release Date : 2017-11-23
Impact Of Self Driving Cars On Insurance Industry How Do External Challenges And Innovations Change The Insurance Market written by Richard M. Ondimu and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-11-23 with Business & Economics categories.
Studienarbeit aus dem Jahr 2016 im Fachbereich BWL - Bank, Börse, Versicherung, University of Westminster, Veranstaltung: MSc Finance, Banking and Insurance, Sprache: Deutsch, Abstract: The future may be uncertain and hard to predict, but it should not be hard to prepare for. Internet and other digital platforms have transformed the way people interact and how they do business in almost all sectors of the economy. This has led to far-reaching challenges and innovations that could have an impact on both current and future of numerous economic sectors. In insurance, for instance, a sector which has remained largely the same for more than three decades, it has a great influence on its value chain right from production, sales and distribution to claims and payments. This report examines self-driving cars, a digital innovation involving vehicles with the capacity to sense their environment and navigate through the pathways without human driver inputs. Their ability to analyze sensory data that in return enables them distinguish between different cars in the road increases driving efficacy and as a result likely to alter current state of both automobile and life insurance industry substantially because of the likelihood that their adoption will significantly reduce the number of traffic accidents as majority of road accidents traditionally are perceived to be caused by driver error/negligence consequently shrinking insurance bills and claims for customers. This study further examines how this innovation (autonomous cars) would influence insurance markets/business while exploring the various responses which the insurance industry has/will put in place to help cope with these changes in the future to enable them to remain sustainably relevant in the market.
Hybrid Models In Automobile Insurance
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Author : Xiaoguang Tian
language : en
Publisher:
Release Date : 2019
Hybrid Models In Automobile Insurance written by Xiaoguang Tian and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Customer relationship management (CRM), a primary activity in the business value chain to relate to the customer, involves solicitation, analysis, and the use of the knowledge about the customer to provide goods and services through effective and efficient methods. It is a wise strategy and source of competitive advantage for customer behavior understanding and business performance management. The use of information technology (IT) in CRM allows companies to simplify their processes, to integrate product or service related decision making with the business strategies, and to optimize their operations by embracing analytical techniques. The insurance industry is facing unprecedented challenges and decisions in this data-driven business paradigm. It is a strategic necessity for customer-centric insurers to utilize emerging IT capability to support interactions between customers and business operations. The research in the dissertation seeks to provide insights into the application of early technology innovation and data-driven strategies by investigating the following two groups of CRM technology issues: technology adoption and data-driven technology application. Through three essays, the dissertation explores the use of information technology and data analytical tools to provide insight into how automobile insurance companies make decisions regarding their relationships with their customers. The results from these studies provide a framework for managers to devise effective approaches to enhancing the performance of their business.
Digital Insurance
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Author : Bernardo Nicoletti
language : en
Publisher: Springer
Release Date : 2016-01-26
Digital Insurance written by Bernardo Nicoletti and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-26 with Business & Economics categories.
This book explores the ways in which the adoption of new paradigms, processes, and technologies can lead to greater revenue, cost efficiency and control, as well as improved business agility in the insurance industry.
Innovation In The European Insurance Industry
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Author : Andreas Eckstein
language : de
Publisher: VVW GmbH
Release Date : 2019
Innovation In The European Insurance Industry written by Andreas Eckstein and has been published by VVW GmbH this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
Change is the guiding principle in the European insurance industry. The aim is to win the race for digitalisation and not lose sight of the customer. In these dynamic times, the book offers an international selection of innovative examples from practice. The book inspires and encourages to break new grounds. Managers receive impetus for their own innovation projects, useful suggestions and methodical tips. Dr. Andreas Eckstein hat die wichtigsten Trends und Innovationen im Versicherungsbereich im Blick. Schwerpunkte seiner Tätigkeit bilden die Bereiche Innovationen, Start-up-Management sowie Business Development. Nach dem Studium der Betriebswirtschaftslehre an den Universitäten Würzburg, Göttingen und der University of South Carolina (USA), verbunden mit einer Werkstudententätigkeit bei Merrill Lynch, promovierte er an der Universität Göttingen über strategische Optionen der Internationalisierung mittelständischer Unternehmen in einem zunehmend globalen Wettbewerb. Dr. Andreas Eckstein hält Vorträge zu den Themen Innovationen im Finanzbereich sowie Start-up-Management. Zusammen mit anderen Experten gründete er den Verband Europäische Zukunftsforschung e.V.
Collective Merchandising Of Automobile Insurance
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Author : Bernard L. Webb
language : en
Publisher: Georgia State University Press
Release Date : 1969
Collective Merchandising Of Automobile Insurance written by Bernard L. Webb and has been published by Georgia State University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Business & Economics categories.
The Application Of Emerging Technology And Blockchain In The Insurance Industry
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Author : Kiran Sood
language : en
Publisher: CRC Press
Release Date : 2024-02-20
The Application Of Emerging Technology And Blockchain In The Insurance Industry written by Kiran Sood and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-20 with Computers categories.
This book is a unique guide to the disruptions, innovations, and opportunities that technology provides the insurance sector and acts as an academic/industry-specific guide for creating operational effectiveness, managing risk, improving financials, and retaining customers. It also contains the current philosophy and actionable strategies from a wide range of contributors who are experts on the topic. It logically explains why traditional ways of doing business will soon become irrelevant and therefore provides an alternative choice by embracing technology. Practitioners and students alike will find value in the support for understanding practical implications of how technology has brought innovation and modern methods to measure, control, and evaluation price risk in the insurance business. It will help insurers reduce operational costs, strengthen customer interactions, target potential customers to provide usage-based insurance, and optimize the overall business. Retailers and industry giants have made significant strides in adopting digital platforms to deliver a satisfying customer experience. Insurance companies must adjust their business models and strategies to remain competitive and take advantage of technology. Insurance companies are increasingly investing in IT and related technologies to improve customer experience and reduce operational costs. Innovation through new technologies is a key driver of change in the financial sector which is often accompanied by uncertainty and doubt. This book will play a pivotal role in risk management through fraud detection, regulatory compliances, and claim settlement leading to overall satisfaction of customers.
Business Model Innovation
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Author : Daniela Andreini
language : en
Publisher: Springer
Release Date : 2017-02-28
Business Model Innovation written by Daniela Andreini and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-28 with Business & Economics categories.
This book presents a systematic literature review of 156 published papers on business model innovation (BMI). The aim is to identify and integrate the different theoretical perspectives, analytical levels, and empirical contexts in order to deepen understanding of this complex phenomenon. The authors conduct an inductive thematic analysis based on an informal ontological classification that identifies 56 key themes. Within each theme, discussion focuses on thematic patterns, potential inconsistencies and debates, and future directions and opportunities for research. The book makes a number of significant contributions to the field. First, it offers a deeper understanding of the evolution of research on BMI through an ontological map that identifies the key thematic areas in the literature. Second, a multilevel model is developed that clarifies the concept of BMI by identifying its drivers, contingencies, and outcomes. Third, the authors identify clear and specific directions for further research and offer suggestions on research design, creating an informative road map for the future. The book will be of value both to scholars and researchers and to practitioners.