Digital Transformation in General Insurance: Strategies for Competitive Advantage
DOI:
https://doi.org/10.63208/210113-671Keywords:
Competitive Advantage, Digital Transformation, Ecosystem Collaboration, General InsuranceAbstract
This study examines how digital transformation contributes to competitive advantage in the general insurance sector through a systematic literature review of 25 peer-reviewed studies published between 2019 and 2025. Following the PRISMA framework, studies were identified, screened, assessed for eligibility and quality, and synthesized thematically. The review identifies five interconnected themes: digital transformation foundations, technological enablers and system integration, competitive advantage mechanisms, organizational enablers and barriers, and InsurTech ecosystem collaboration. The findings show that transformation begins with core process modernization and is strengthened by the integration of artificial intelligence, analytics, cloud computing, automation, and IoT. Competitive advantage emerges through efficiency, differentiation, agility, and innovation when digital capabilities are supported by organizational readiness. Leadership, digital talent, and adaptive culture facilitate transformation, whereas legacy systems, resistance to change, and regulatory complexity constrain it. Insur Tech collaboration further expands capabilities and innovation opportunities. Competitive advantage arises from the interaction of technology integration, organizational readiness, and ecosystem collaboration.
References
Al-Smadi, M. O. (2025). Insurance sector readiness for digital transformation: Empirical evidence from Jordan. Insurance Markets and Companies, 16(1), 33-41. https://doi.org/10.21511/ins.16(1).2025.03
Braun, A., & Jia, R. (2025). InsurTech: Digital technologies in insurance. The Geneva Papers on Risk and Insurance-Issues and Practice, 50(1), 1-7. https://doi.org/10.1057/s41288-024-00344-x
Cosma, S., & Rimo, G. (2024). Redefining insurance through technology: Achievements and perspectives in Insurtech. Research in International Business and Finance, 70, 102301. https://doi.org/10.1016/j.ribaf.2024.102301
Eckert, C., & Osterrieder, K. (2020). How digitalization affects insurance companies: overview and use cases of digital technologies. Zeitschrift für die gesamte Versicherungswissenschaft, 109(5), 333-360. https://doi.org/10.1007/s12297-020-00475-9
Eckert, C., Neunsinger, C., & Osterrieder, K. (2022). Managing customer satisfaction: digital applications for insurance companies. The Geneva Papers on Risk and Insurance-Issues and Practice, 47(3), 569-602. https://doi.org/10.1057/s41288-021-00257-z
Eling, M., Nuessle, D., & Staubli, J. (2022). The impact of artificial intelligence along the insurance value chain and on the insurability of risks: M. Eling et al. The Geneva Papers on Risk and Insurance-Issues and Practice, 47(2), 205-241. https://doi.org/10.1057/s41288-020-00201-7
Gatzert, N., & Osterrieder, K. (2020). The future of mobility and its impact on the automobile insurance industry. Risk Management and Insurance Review, 23(1), 31-51. https://doi.org/10.1111/rmir.12140
Harianja, L. R., Sugianto, S., & Daulay, A. N. (2024). Systematic literatur riview: Analisis transformasi digital industri asuransi potensi (Insurtech) di Indonesia. Jurnal Manajemen Terapan Dan Keuangan, 13(02), 466-480. https://doi.org/10.22437/jmk.v13i02.33280
Holland, C. P., & Kavuri, A. S. (2025). Insurtech strategies: A comparison of incumbent insurance firms with new entrants: CP Holland and AS Kavuri. The Geneva Papers on Risk and Insurance-Issues and Practice, 50(1), 78-105. https://doi.org/10.1057/s41288-024-00341-0
Leão, P., & da Silva, M. M. (2021). Impacts of digital transformation on firms' competitive advantages: A systematic literature review. Strategic Change, 30(5), 421-441. https://doi.org/10.1002/jsc.2459
Liu, M., Yang, H., & Zheng, S. (2024). Index construction and application of digital transformation in the insurance industry: Evidence from China. Plos one, 19(1), e0296899. https://doi.org/10.1371/journal.pone.0296899
Musaigwa, M. (2024). From traditional to digital: Transforming business models in the insurance sector. International Journal of Development and Sustainability International Journal of Development and Sustainability, (13 1), 68-86.
Nadkarni, S., & Prügl, R. (2021). Digital transformation: a review, synthesis and opportunities for future research: S. Nadkarni, R. Prügl. Management Review Quarterly, 71(2), 233-341. https://doi.org/10.1007/s11301-020-00185-7
Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8), 103773. https://doi.org/10.1016/j.respol.2019.03.018
Nasution, H., Muafi, M., El-Qadri, Z. M., & Suprihanto, J. (2025). Impact of digital business transformation on organizational ambidexterity and performance in indonesian insurance firms. Intangible Capital, 21(1), 1-20.
Neale, F. R., Drake, P. P., Jin, L., & Lai, G. (2025). Technology investment and insurer efficiency. The Geneva Papers on Risk and Insurance-Issues and Practice, 50(1), 8-33. https://doi.org/10.1057/s41288-024-00327-y
Pauch, D., & Bera, A. (2022). Digitization in the insurance sector–challenges in the face of the COVID-19 pandemic. Procedia Computer Science, 207, 1677-1684. https://doi.org/10.1016/j.procs.2022.09.225
Shao, W. (2025). The role of digital transformation in enhancing organizational agility and competitive advantages: A strategic perspective. Advances in Economics Management and Political Sciences, 154(1), 115-120. https://doi.org/10.54254/2754-1169/2024.19552
Śliwiński, A., Kurylowicz, L., & Pajewska-Kwaśny, R. (2025). digital transformation and innovation in the insurance sector: Processes, technologies, and challenges. Wiadomości Ubezpieczeniowe, 2(2025/2), 10-33995. https://doi.org/10.33995/wu2025.2.6
Sosa, I., & Montes, Ó. (2022). Understanding the InsurTech dynamics in the transformation of the insurance sector. Risk Management and Insurance Review, 25(1), 35-68. https://doi.org/10.1111/rmir.12203
Sosa, I., & Sosa, S. (2025). Building an InsurTech ecosystem within the insurance industry. Risks, 13(6), 108. https://doi.org/10.3390/risks13060108
Sukma, N., & Yamnill, S. (2025). Unlocking the future of insurance: The power of open data, digital transformation, and human talent. Human Resource Development Quarterly. https://doi.org/10.1002/hrdq.70002
Verhoef, P. C., Broekhuizen, T., Bart, Y., Bhattacharya, A., Dong, J. Q., Fabian, N., & Haenlein, M. (2021). Digital transformation: A multidisciplinary reflection and research agenda. Journal of Business Research, 122, 889-901. https://doi.org/10.1016/j.jbusres.2019.09.022
Wanyan, R., Zhao, T., Suo, L., & Lai, G. C. (2025). Digital transformation and total factor productivity in insurance companies: A catalyst or inhibitor? R. Wanyan et al. The Geneva Papers on Risk and Insurance-Issues and Practice, 50(1), 142-184. https://doi.org/10.1057/s41288-024-00340-1
Yaneva, T. (2021). Digital transformation of insurance sector. Известия на Съюза на учените-Варна. Серия Икономически науки, 10(1), 97-104.
Downloads
Published
Issue
Section
License
Copyright (c) 2026 The Author(s)
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
How to Cite
About this article
