| SMART JOURNAL OF BUSINESS MANAGEMENT STUDIES |
VOL. 21 |
NO. 1 |
PAPER 10 |
DOI: 10.34293/2321-2012.2025.0001.10 |
EXPLORING KEY DRIVERS OF INSURTECH ADOPTION: INSIGHTS FROM INDIA’S DIGITAL INSURANCE REVOLUTION
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| Muhammed Basid Amnas* Mariappan Raja* and J. M. Velmurugan*** |
| * Research Scholar, Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli -620024, Tamil Nadu, India |
| ** Associate Professor of Commerce (CDOE), Department of Commerce and Financial Studies, Bharathidasan University, Tiruchirappalli -620024, Tamil Nadu, India
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| *** Assistant Professor, Department of Commerce, The TamilNadu Dr. Ambedkar Law University, Chennai, Tamil Nadu, India
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| The insurance industry is undergoing a significant digital transformation, referred to as “InsurTech,” which integrates advanced technologies to automate processes and improve customer service. This study analysed the factors, driving the adoption of InsurTech services in India, a fast-growing insurance market. The research adopted the Technology Acceptance Model (TAM), by incorporating additional constructs such as awareness, trust, service quality, and promotional offers. Data were collected from 310 InsurTech users and analysed the data, by using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results revealed that perceived ease of use, perceived usefulness, awareness, trust, service quality, and promotional offers positively influenced InsurTech adoption. The findings provide insights for insurers and policymakers, to develop strategies that promote the wider use of InsurTech services, especially in underinsured segments. The study highlights the need for intuitive platforms, increased consumer awareness and strong trust-building measures, to facilitate InsurTech adoption in India. |
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