Prevention and services: New business models in insurance
Driven by loss experience, new technologies or regulation, approaches to preventing and financing risk are changing. This also changes the possibilities and expectations towards insurers. Our research focus on ‘Prevention’ centres on questions relating to the value proposition and demand for insurance with prevention features, as well as the implementation, sustainability and profitability of preventive insurance models. Are you interested in further information or in a collaboration? Please contact Prof. Dr. Angela Zeier Röschmann.
Transformation of risks
Climate risks, digital transformation or demographic change are changing risks as well as risk awareness and behaviour. These developments require adjustments to risk management and also new approaches to insurance.
1 / Study: Geschäftsmodell-Transformation: die Rolle des Risikomanagements
2 / Publication: On the identification, evaluation and treatment of risks in smart homes
3 / Magazine Article: Risikowandel durch Smart Home
4 / Publication: Green insurance: a roadmap for executive management
Demand for insurance with prevention features
Private households and companies engage in prevention for different reasons, for example as a result of loss experience, regulatory requirements or new technological possibilities. Many insurers have integrated preventive approaches into products and services. However, demand remains limited so far. Whether this is due to insufficient premium incentives, a lack of willingness to share data, a lack of trust in insurers or their data governance, or other factors, is the subject of our research.
1 / Publication: On the adoption of smart home technology in Switzerland: results from a survey study focusing on prevention and active healthy aging aspects.
2 / Publication: Do expectations of risk prevention play a role in the adoption of smart home technology? Findings from a Swiss survey.
3 / Conference: Presentation at the American Risk and Insurance Association (ARIA) conference (link follows)
4 / Webinar: Prevention as a product feature: Insight into insurance offers worldwide (link follows)
Insurance solutions with data-based prevention
Athletes, employees and travelers carry smart devices on them. Households are connected through digital technologies. Vehicles drive semi-autonomously. Companies control processes in an automated, data-based manner. These developments change hazards, risks, and risk management options. For insurers, this development also raises new opportunities for customer interaction, along with questions around product development, risk selection, and loss expectation.
1 / Study in co-operation with SWICA: Smart Home: Ein Ansatz für aktives und gesundes Altern?
2 / Lecture: Smarte Versicherung und Real Estate: Auszug aus der MBA-Vorlesung
4 / Webinar: Versicherung neu gedacht - Versicherung, Prävention und Services im Smart Home
Sustainability, insurability, profitability
Preventive measures and cooperation between various stakeholders are of central importance when it comes to protecting against risks such as floods, cyber or pandemics. Pool solutions, ‘Build Back Better / Stronger’ programmes or investments in nature-based solutions (NBS) are examples of how insurers are getting involved - so far often under the umbrella of sustainability and the pressure of insurability. Our research examines how and under what conditions prevention is becoming a strategic core element of insurers’ business models.
1 / Article: Pandemic insurance cover: Not without a public-private partnership
2 / Publication: The role of insurers in flood risk management revisited from a sustainability perspective
3 / Study: Prevention as a core business? Where do Swiss insurers stand? (link follows)
Contact
Prof. Dr. Angela Zeier Röschmann
Professor und Co-Head of the Institute for Risk & Insurance. She lectures and researches on the topics of insurance management, business model innovation and qualitative risk management.
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Lukas Stricker
Lecturer and course director at the Institute for Risk & Insurance. As part of his research activities, he deals with the question of what influence prevention measures have on the frequency and severity of claims in property insurance.
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Ion Cimbru
Doctoral student at the Institute for Risk & Insurance. His research focuses on the impact of IoT and Smart Homes technologies as risk prevention measures on the utility and insurance demand.
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