DIGITAL TRANSFORMATION IN INSURANCE COMMERCE: CONSUMER ADOPTION PATTERNS AND MARKET IMPLICATIONS

Abstract

The insurance industry is experiencing a fundamental transformation driven by digital technologies, changing consumer expectations, and competitive pressures from InsurTech start-ups. This research examines consumer adoption patterns of digital insurance channels, analyses the technological drivers of transformation, and evaluates market implications for traditional insurers. Through analysis of industry data and consumer behavior studies, this paper reveals that while 67% of insurance firms have accelerated digital transformation initiatives, only approximately 10% of consumers complete the entire insurance purchasing journey through digital channels. The research identifies key barriers to adoption, explores emerging technologies reshaping the sector, and provides strategic recommendations for insurers navigating this transition.