Econometric analysis of the impact of IT technology on the insurance market
Abstract
The article looks at the potential and opportunities for insurance as a financial activity to become digital. Examples of the application of new insurance types (e-commerce, cyber risks, electronic and computer crimes, reflecting the emergence of not only the digital economy and the introduction of new technologies, but also the new risks generated by them) and new technologies in the practice of mass insurance (digitalization, and individualization of insurance activities) are provided, along with an analysis of the main directions of the digitalization of insurance. A conclusion is drawn regarding the evolution of digitalization in Russian insurance since new insurance services and products are created as a result of the application of digital technologies, which also increases the overall efficiency and profitability of insurance operations.