Transformation of Insurtech in the European Market Since 2014 : a Case Study of Wefox
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Date
2023
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Abstract
AI-GENERATED ABSTRACT: Abstract: This research delves into the transformations witnessed in the InsurTech landscape within the market since 2014, with a specific focus on the case of Wefox. The study examines the evolution of InsurTech, its impact on the insurance industry, and the challenges faced during its implementation. By conducting a thorough literature review, key trends and developments in the European InsurTech sector are explored. Through an in-depth analysis of Wefox as a case study, a comprehensive understanding is sought regarding the prominent InsurTech company's role in driving industry transformation. The findings highlight how Wefox has disrupted insurance practices through its innovative business model, technological advancements, and customer-oriented approach. The research further offers insights into the implications for the insurance market and a discussion on the opportunities and challenges arising from the InsurTech revolution. This study significantly contributes to a deeper comprehension of InsurTech's profound impact on shaping the future of insurance in Europe. Keywords: InsurTech, insurance industry, Wefox, innovation, technological advancements, business model, European market, industry transformation, customer-oriented approach, market disruption