Review article
Platform Models as Digital Transformation Solution of the Insurance Sector: An Empirical Study in Northern Croatia
Ivica Vugrinec
; University North, Koprivnica, Croatia
*
Joško Lozić
orcid.org/0000-0001-5568-5279
; University North, Koprivnica, Croatia
*
Katerina Fotova Čiković
; University North, Koprivnica, Croatia
*
* Corresponding author.
Abstract
Today's dynamic business environment requires digital transformation as an inevitable factor shaping the development of various industries and sectors, including the financial and insurance sectors. Although the financial sector has adapted relatively quickly to the demands of today's digital environment, the insurance sector faces challenges in its transition towards digital transformation. This research explores this very topic, analyzes key concepts of digital transformation and conducts research on the possibilities of applying platform models in the Republic of Croatia and the opinion of respondents from Northern Croatia. One of the goals of this paper is to provide a more detailed insight into the possibilities of digital transformation of the insurance sector, as well as identify the steps that are necessary to achieve technological and business innovations in this sector. Through empirical research conducted on 235 respondents, the potential for the digital transformation of the insurance sector through the model of digital platforms is analyzed by examining respondents' opinions and attitudes on whether the platform model could be a solution for the digital transformation of the insurance sector. The respondents' inclination towards using digital platforms for purchasing insurance products or contracting insurance services in Northern Croatia is also examined. A descriptive study was conducted using an online survey questionnaire. Findings show that respondents from Northern Croatia are inclined towards the platform model as an optimal solution for the digital transformation of the insurance sector, indicating a growing awareness of the benefits that digital platforms bring, as well as the need for their implementation to ensure the insurance sector successfully adapts to contemporary technological trends and market demands.
Keywords
digitalization; digital platforms; digital transformation; insurance; InsurTech
Hrčak ID:
334430
URI
Publication date:
31.7.2025.
Visits: 646 *