Insurtech in Europe: Identifying the top investment priorities for driving innovation

Eti, Serkan; Dinçer, Hasan; Meral, Hasan; Yüksel, Serhat; Gökalp, Yaşar

Insurtech in Europe: Identifying the top investment priorities for driving innovation

dc.authorid	0000-0002-4791-4091
dc.authorid	0000-0002-8072-031X
dc.authorid	0000-0002-9858-1266
dc.authorid	0000-0002-3390-4597
dc.contributor.author	Eti, Serkan
dc.contributor.author	Dinçer, Hasan
dc.contributor.author	Meral, Hasan
dc.contributor.author	Yüksel, Serhat
dc.contributor.author	Gökalp, Yaşar
dc.date.accessioned	2024-02-02T08:59:07Z
dc.date.available	2024-02-02T08:59:07Z
dc.date.issued	2024
dc.department	İstanbul Medipol Üniversitesi, İMÜ Meslek Yüksekokulu, Bilgisayar Programcılığı Ana Bilim Dalı
dc.department	İstanbul Medipol Üniversitesi, İşletme ve Yönetim Bilimleri Fakültesi, Uluslararası Ticaret ve Finansman Bölümü
dc.department	İstanbul Medipol Üniversitesi, Sağlık Bilimleri Fakültesi, Sağlık Yönetimi Bölümü
dc.description.abstract	The purpose of this study is to determine the essential indicators to improve insurtech systems and select the most critical alternative to increase insurtech-based investments in European countries. A novel fuzzy decision-making model is generated by integrating entropy and additive ratio assessment (ARAS) techniques with spherical fuzzy sets. First, the indicators are weighted using spherical fuzzy entropy. Then, the alternatives are ranked using spherical fuzzy ARAS. The alternatives are also ranked with the spherical fuzzy technique for order of preference by similarity to the ideal solution methodology. The main contribution of this study is that it would help investors to take the right actions to increase the performance of insurtech investments without incurring high costs. Another important novelty is that a new fuzzy decision-making model is proposed to solve this problem. The results of the two models are quite similar, proving the validity and coherency of the findings. It is found that pricing is the most critical factor that affects the performance of insurtech investments. Insurtech companies are required to make accurate pricing by conducting risk analyses to increase their profits and minimize their risks. Additionally, according to the ranking results, big data are the most appropriate way to improve the performance of insurtech investments in Europe. Big data analytics helps companies learn more about the behavior of their customers. By analyzing data about their customers' past transactions, companies can provide more convenient services to them. This would increase customer satisfaction and enable companies to achieve long-term customer loyalty.
dc.identifier.citation	Eti, S., Dinçer, H., Meral, H., Yüksel, S. ve Gökalp, Y. (2024). Insurtech in Europe: Identifying the top investment priorities for driving innovation. Financial Innovation, 10(1). https://dx.doi.org/10.1186/s40854-023-00541-y
dc.identifier.doi	10.1186/s40854-023-00541-y
dc.identifier.issn	2199-4730
dc.identifier.issue	1
dc.identifier.scopus	2-s2.0-85182699312
dc.identifier.scopusquality	Q1
dc.identifier.uri	10.1186/s40854-023-00541-y
dc.identifier.uri	https://hdl.handle.net/20.500.12511/12241
dc.identifier.volume	10
dc.identifier.wos	001145602700001	en_US
dc.identifier.wosquality	Q1
dc.indekslendigikaynak	Web of Science
dc.indekslendigikaynak	Scopus
dc.institutionauthor	Eti, Serkan
dc.institutionauthor	Dinçer, Hasan
dc.institutionauthor	Yüksel, Serhat
dc.institutionauthor	Gökalp, Yaşar
dc.language.iso	en
dc.publisher	Springer
dc.relation.ispartof	Financial Innovation	en_US
dc.relation.publicationcategory	Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rights	Attribution 4.0 International	*
dc.rights	info:eu-repo/semantics/openAccess
dc.rights.uri	https://creativecommons.org/licenses/by/4.0/	*
dc.subject	Insurtech
dc.subject	Financial Innovation
dc.subject	Health Insurance
dc.subject	Pricing
dc.title	Insurtech in Europe: Identifying the top investment priorities for driving innovation
dc.type	Article