Details
| Original language | English |
|---|---|
| Pages (from-to) | 237-259 |
| Number of pages | 23 |
| Journal | Zeitschrift fur die gesamte Versicherungswissenschaft |
| Volume | 112 |
| Issue number | 3 |
| Publication status | Published - 2023 |
Abstract
In the context of digital transformation, new analysis and visualization methods and tools offer insurance companies the opportunity to support existing and enable new business processes and acquire new clients. In particular, competitive advantages can be generated through fast and intuitive high-quality data processing. Business Intelligence (BI) systems support and enable data processing and create significant value for financial services companies, as large amounts of customer data can be used profitably. Based on qualitative interviews with experts from the German insurance industry, this paper examines possible applications of BI in insurance companies and, moreover, opportunities and challenges resulting from BI implementation and use. Our results and findings show that the use of BI is beneficial and an expansion in the insurance sector is expected, as potential use cases currently are not fully exploited. Our research also supports decision-making of practitioners to implement new BI tools and processes.
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Accounting
- Economics, Econometrics and Finance(all)
- Finance
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
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In: Zeitschrift fur die gesamte Versicherungswissenschaft, Vol. 112, No. 3, 2023, p. 237-259.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Chances and Challenges of Business Intelligence
T2 - Insights from the German Insurance Market
AU - Eden, Theresa
AU - Werth, Oliver
AU - Aschenbach, Claus Marcus
AU - Breitner, Michael H.
N1 - Publisher Copyright: © 2023, Duncker und Humblot GmbH. All rights reserved.
PY - 2023
Y1 - 2023
N2 - In the context of digital transformation, new analysis and visualization methods and tools offer insurance companies the opportunity to support existing and enable new business processes and acquire new clients. In particular, competitive advantages can be generated through fast and intuitive high-quality data processing. Business Intelligence (BI) systems support and enable data processing and create significant value for financial services companies, as large amounts of customer data can be used profitably. Based on qualitative interviews with experts from the German insurance industry, this paper examines possible applications of BI in insurance companies and, moreover, opportunities and challenges resulting from BI implementation and use. Our results and findings show that the use of BI is beneficial and an expansion in the insurance sector is expected, as potential use cases currently are not fully exploited. Our research also supports decision-making of practitioners to implement new BI tools and processes.
AB - In the context of digital transformation, new analysis and visualization methods and tools offer insurance companies the opportunity to support existing and enable new business processes and acquire new clients. In particular, competitive advantages can be generated through fast and intuitive high-quality data processing. Business Intelligence (BI) systems support and enable data processing and create significant value for financial services companies, as large amounts of customer data can be used profitably. Based on qualitative interviews with experts from the German insurance industry, this paper examines possible applications of BI in insurance companies and, moreover, opportunities and challenges resulting from BI implementation and use. Our results and findings show that the use of BI is beneficial and an expansion in the insurance sector is expected, as potential use cases currently are not fully exploited. Our research also supports decision-making of practitioners to implement new BI tools and processes.
UR - http://www.scopus.com/inward/record.url?scp=85191870910&partnerID=8YFLogxK
U2 - 10.3790/zverswiss.2023.1428201
DO - 10.3790/zverswiss.2023.1428201
M3 - Article
AN - SCOPUS:85191870910
VL - 112
SP - 237
EP - 259
JO - Zeitschrift fur die gesamte Versicherungswissenschaft
JF - Zeitschrift fur die gesamte Versicherungswissenschaft
SN - 0044-2585
IS - 3
ER -