Page 9 - Turkinsurance Digital Magazine

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The Digital Report Card of the Turkish Insurance
Sector Has Been Announced

Academic Study: “Discourse Is Strong, According to the study:
Operational Transformation Is Limit-
ed” * Digital applications are concentrated
mainly in sales and marketing process-
A comprehensive academic study ana- es.
lyzing the level of digital adaptation in * Digital integration remains limited in
Türkiye’s insurance sector has achieved core operational areas such as under-
significant international success. The writing, pricing, claims management,
research, led by Prof. Dr. Erdem Kırk- and product development.
beşoğlu, a faculty member of the De- * Digital transformation has not yet be-
partment of Insurance at Başkent Uni- come central to strategy.
versity and also a member of GESİD The research also noted that Aksigorta,
Ankara, and prepared with contri- Quick Sigorta, and AXA Sigorta stand such as data quality, algorithmic pric-
butions from Assoc. Prof. Dr. Esma out among digitally innovative com- ing, cyber risk, and digital operational
Ergüner and Research Assistant Said panies in Türkiye; however, compared fragility are assessed as not yet having
Sami Sönmez, was published in Journal with advanced insurance economies, the been sufficiently embedded at the center
of Risk Research (SSCI), one of the re- sector overall remains in a “digital fol- of strategic risk management..
spected academic journals in the field of lower” position.
insurance. Contribution to the International
Four-Level Digital Competency Map Literature
Eight-Year Discourse Analysis
The study classifies insurance compa- The research not only presents a situa-
Within the scope of the study titled nies into four categories based on their tion analysis specific to Türkiye but also
“Determining the Level of Digital Ad- level of digital competence: contributes to the international litera-
aptation in the Insurance Sector,” dig- * Inactives – Digital discourse exists, ture by revealing the structural limits of
italization statements made by senior but operational transformation is weak digital transformation in emerging in-
executives of multinational insurance * Followers – Digital applications are surance markets. The study also draws
companies operating in Türkiye during limited to the customer interface attention to the need to strengthen the
the 2016–2023 period were examined * Operators – Integration exists in some sector’s digital capacity within the con-
using content analysis and social net- operational processes text of the United Nations’ sustainable
work analysis methods. * Innovators – Companies that have industry and innovation goals.
placed digital technologies at the center
The analysis, conducted through pub- of both service and operations Conclusion
licly available statements by general
managers, board members, and deputy According to the research findings, the The insurance sector is aware of the
general managers, revealed the sector’s majority of the sector is positioned as importance of digitalization. However,
perception of digital transformation “followers,” while the number of com- this transformation needs to move be-
and its level of implementation with panies able to achieve digitalization yond sales channels and become embed-
concrete data. across the entire value chain remains ded at the center of risk management
quite limited. and the value chain.
Findings: Digitalization Is Being The study provides an important roadm-
Discussed, but Has Not Yet Become Technological Risk Perception at a ap for the sector and strongly demon-
Central Critical Threshold strates that digitalization should now be
addressed not merely as a communica-
The most striking finding of the study The study also indicates that techno- tion topic but as a source of competitive
was that, although sector executives logical risk perception in the insurance advantage and sustainability.
strongly emphasize the importance of sector has not yet been addressed as
digitalization in their discourse, digital centrally as financial risk. While the tra- The full study is available via Journal of
technologies have not yet spread across ditional approach focused on regulation Risk Research.
the entire value chain. and capital adequacy continues, issues