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Publication type: Bachelor thesis
Title: Change and strategic responses in the life and non-life Swiss insurance industry
Authors: Hefti, Nico
Advisors / Reviewers: Björck, Albena
DOI: 10.21256/zhaw-19096
Extent: 128
Issue Date: 2019
Publisher / Ed. Institution: ZHAW Zürcher Hochschule für Angewandte Wissenschaften
Publisher / Ed. Institution: Winterthur
Language: English
Subject (DDC): 332.38: Insurances
Abstract: The Swiss insurance industry notifies a trend towards more technology-driven solutions, new regulations, and changing customer expectations. Start-ups, today called InsurTechs, took their chance and entered the market by exploiting opportunities offered by technology. Moreover, the Swiss insurance market reached its peak in terms of gross premiums and profits even showed a decline in the latest years. Consequently, insurers must find strategic responses that address the changes effectively and secure their profitability and existence. The primary purpose of this thesis was to analyze the key drivers of change in the insurance industry and point out strategic responses. Therein, the focus was to identify the relevant technologies, determine the importance of the value chain activities and identify the market forces that shape the industry. The study concluded that the impact of technology offers insurers to enhance customer interaction, simplify their products, increased efficiency and automation. In contrast, it also includes new competitors in the form of InsurTechs. However, the strategic responses with the market regulations secure future profitability. The study presents Swiss insurances companies a framework of showing in which direction to go. Further research is suggested on company-specific indications, meaning a thorough analysis of the processes and costs to determine the points where the implementation of technology would be most effective.
License (according to publishing contract): CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International
Departement: School of Management and Law
Appears in collections:BSc International Management

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