Is the Artificial Intelligence in Insurance Industry a Reality?

Abstract

Artificial intelligence (AI) applications are an integral part of important industries such as healthcare, banking, financial services, insurance science, logistics, transportation, food technology, travel and entertainment. The purpose of this chapter is to examine the factors that influence the intention of insurance industry executives to adopt artificial intelligence applications through proposals concerning technological, organizational and environmental factors such as relative advantage, complexity, top management support, technological capability, financial readiness, market dynamics, regulatory support, competitive pressure and behavioral intention. Using the technology-organization-environment (TOE) framework, the factors that influence the behavioral intention of insurance industry executives to adopt applications using artificial intelligence are examined. A questionnaire was used to collect data, in which insurance company executives from various fields were asked to complete. SPSS was used to analyze the data. This work can lead to the further activation of executives.

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