Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/67173
Title: An assessment of individual attitudes towards technological innovation within the insurance sector
Authors: Fenech, Roberta
Keywords: Artificial intelligence
Insurance -- Technological innovations -- Malta
Consumer behavior -- Malta
Issue Date: 2020
Citation: Fenech, R. (2020). An assessment of individual attitudes towards technological innovation within the insurance sector (Master's dissertation).
Abstract: The integration of innovate technological devices and software has proliferated every aspect of daily life. The use of technology has been heavily discussed and pursued within several industries with the rise of innovate technology ushering in a new era for leaner, more cost effective financial services, although questions regarding implementation and potential risks involved persist. Such innovation tends to leave an impact on one’s way of life and ultimately one’s way of thinking. The ability to understand this impact may prove to be imperative in a world that is constantly developing and innovating. The latter hence emphasizing the importance of being able to adapt to change. This study looks at how technological devices within insurance products being offered to customers affect individuals’ behaviour as well as their openness to such technologies. To this end, a survey experiment was designed and administered to a random sample of respondents in order to gauge their views, experiences and attitudes towards technological innovation, as well as the extent to which loss aversion influences their openness to such technologies within the insurance sector. Balance Tests carried out ensured adequacy and validity of results. The results show that the level of education of individuals was a statistically significant factor with regards to levels of acceptance, in relation to technological devices. Loss aversion did not prove to be an influential factor with regards to the willingness as well as levels of trust, when opting for such devices. The results proved that individuals with higher levels of income are mainly concerned with regards to privacy, however, tend to be more willing and more trustworthy in such an implementation. From the results, one can identify a number of favourable factors relating to insurance and risk managers seeking to implement AI within their insurance or financial services, therefore highlighting the value of such a dissertation.
Description: M.A.INSURANCE&RISK MANGT.
URI: https://www.um.edu.mt/library/oar/handle/123456789/67173
Appears in Collections:Dissertations - FacEma - 2020
Dissertations - FacEMAIns - 2020

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