The International Insurance Law Review (IILR) is a prestigious academic journal dedicated to advancing the understanding of insurance law across jurisdictions. Renowned for its rigorous standards and commitment to quality, IILR serves as a global platform for scholars, practitioners, and policymakers to explore and discuss critical issues in the field of insurance law. International Insurance Law Review ISSN: 0968-2090 Publisher: Lumar Publications Email: editor@lumarpub.com Indexed by: Australian Business Dean Council (ABDC) - A Rating
Safeguarding Consumer Data in Digital Insurance: Legal Frameworks and Ethical Imperatives
The insurance industry is one of the industries that are digitally evolving at a high pace; therefore, harvesting and processing sensitive consumer information has become critical issues concerning privacy, security, and the moral mandate. This study explores the possibilities of combining legal frameworks and ethical requirements with technical protective measures to secure consumer information in the digital insurance providers. Conceptual and simulation-based approach was taken by applying synthetic insurance data applying four common data protection algorithms: Advanced Encryption Standard (AES), Rivest -Shamir-Adleman (RSA), k-anonymity, and differential privacy. The experimental results show that AES has a high data confidentiality rate of 99.8 per cent as well as low processing latency whereas RSA offers secure authentication rate of 98.6 per cent and attack resistance. Privacy-preserving analytics had a lower chance of re-identification of 8.5 with k-anonymity and 2.1 with differential privacy but with a slight decrease in the data utility. The outcomes of the ethical assessment showed that the highest score of the ethical compliance (9.3/10) was achieved by the methodology of differential privacy, which outcompeted the traditional security-only approaches. The comparative analysis with related work has shown that overall security, privacy, and ethical alignment scores went from 8.1, 7.4 and 7.0 to 9.2, 8.9 and 9.1 this way, due to the proposed integrated safeguarding. The results highlight the importance of a multi-layered solution that provides legal adherence, ethical governance, and advanced technical systems in order to provide credible and sustainable digital insurance systems.
Digital Insurance, Consumer Data Protection, Privacy Preservation, Ethical Governance, Legal Frameworks
Copyright (c) 2026 International Insurance Law Review https://creativecommons.org/licenses/by-nc-nd/4.0
To Investigate the Methods that HR Departments used to Manage Human Resources During The COVID-19 Crisis in Hotels, With Special Reference to Frontline Employees
Human resources departments in hotels and other hospitality businesses had to respond quickly to changing conditions in order to keep operations running and provide assistance to staff members in the wake of the COVID-19 outbreak. This study seeks to examine the methods used by hotel HR departments to handle human resources during the crisis. It will specifically look at how these departments dealt with frontline personnel, who were the ones most exposed to health concerns and operational problems. The study delves into important HR interventions such as workforce reduction, remote work, health and safety, psychological and emotional support, training and upskilling programs, and communication strategies used to keep employees engaged and the business running smoothly. Frontline workers, including those in housekeeping, food and beverage, and reception, were particularly highlighted for their adaptation, resilience, and health because they were under tremendous stress during the health crisis owing to their customer-facing responsibilities, heavy workloads, and job instability. This study used quantitative and qualitative data gathered from interviews and surveys with human resources managers and frontline staff from different types of hotels to show how HR departments respond to crises, what works, and where they need improvement. These results add to the expanding body of literature on CR-HRM, which highlights the need of flexible, compassionate, and employee-focused strategies during times of volatility. To better manage their workforces and be resilient in the face of future crises, lawmakers and hospitality industry executives should use the practical lessons provided by this research.
Human Resource Management (HRM), COVID-19 Pandemic, Hotel Industry, Frontline Employees, Crisis Management
Quantifying Crypto-Equity Interconnectedness Using RStudio: A Sectoral Network Analysis
As​‍​‌‍​‍‌​‍​‌‍​‍‌ traditional equity markets continue to integrate with digital assets, understanding the connectedness between these two becomes a must. This study, in the context of sectoral indices of the Banking and Information Technology in India, aims to evaluate how digital assets are connected to stock indices. It also points out the importance of diversification and hedging. The main goal was to measure the extent of dynamically changing dependencies in interlinkages and at the same time find the best digital asset pairings that would help in risk mitigation of the portfolio. The study covers daily returns for the period of April 2022 to March 2025. It uses two econometric models, TVP-VAR and DCC-GARCH, to conduct the analysis in RStudio. The findings indicate that Ethereum and Bitcoin are the biggest sources of volatility, while stablecoins, like USDC, are almost perfect hedging instruments. Sectoral indices as net shock receivers are showing their exposure. The main takeaway is that digital assets facilitate diversification and hedging, thus leading investors in the right direction in the context of the Indian ​‍​‌‍​‍‌​‍​‌‍​‍‌economy.
RStudio, Connectedness, Digital Assets, Hedging, Diversification
Generative AI in InsurTech: Revolutionizing Personalized Advertising Content, Automated CRM Interactions, and HRM Training Simulations
This research investigates the complex, conjunctural pathways leading to high behavioral intention to adopt integrated Generative AI (GenAI) solutions in the Indian InsurTech sector. Moving beyond variance-based methods, we employ a configurational approach grounded in the Technology-Organization-Environment (TOE) framework and the principle of equifinality. Using a mixed-methods design, we first calibrate conditions through qualitative case studies of five InsurTech firms. Subsequently, we apply Fuzzy-Set Qualitative Comparative Analysis (fsQCA) to survey data from 35 InsurTech entities to identify sufficient causal recipes. Findings reveal three distinct, equally effective pathways to high adoption intention: (1) The Capability-Pushed Pathway, driven by strong AI talent and competitive pressure; (2) The Resource-Enabled Pathway, where abundant financial resources overcome regulatory complexity; and (3) The Efficiency-Seeking Pathway, where strong task-technology fit for CRM and advertising motivates adoption even with moderate resources. Notably, no single condition is necessary, but the presence of AI-skilled talent appears in two of the three core solutions. The absence of a strong innovation culture, however, can be compensated by other factors. This study contributes by shifting the analytical lens from 'net effects' to 'causal configurations,' providing managers with tailored strategic archetypes for GenAI adoption across marketing, service, and human capital functions.
Generative AI, InsurTech, fsQCA, Configurational Theory, TOE Framework, Equifinality, Adoption Pathways
Insurance Inclusivity in Education: A Conceptual Framework for Student Well-Being, Security, and Access
Ensuring student well-being and equitable access to education has emerged as a global policy priority as higher education institutions confront rising vulnerabilities related to health risks, financial instability, digital exposure, and campus safety. While insurance has traditionally been treated as a peripheral administrative provision in education, its role has expanded in mitigating student risk, supporting continuity of learning, and strengthening institutional resilience. Despite this growing relevance, the concept of insurance inclusivity—the equitable availability, accessibility, affordability, and adequacy of insurance protection for all students—remains underexplored in academic literature and education policy discourse. This conceptual paper develops a comprehensive framework that positions insurance inclusivity as a structural pillar of student welfare, risk mitigation, and educational access. Drawing on social protection theory, welfare economics, and educational equity perspectives, the paper identifies key domains of student vulnerability, including health emergencies, mental well-being challenges, cyber exposure, financial shocks, accidents, and learning disruptions. It demonstrates how inclusive insurance mechanisms can address these risks while supporting student retention and institutional accountability.
Insurance inclusivity; Student well-being; Educational access; Social protection; Student vulnerability; Higher education governance
Legal Barriers and Enablers for Digital Financial Services in Emerging Economies
This paper examines the legal obstacles and facilitators that define Digital Financial Services (DFS) in emerging economies with a specific interest in Kenya, India, Nigeria, the Philippines and Brazil. It uses comparative legal-policy analysis to determine which regulatory systems and data protection frameworks, including institutional coordination, drive the inclusivity and resilience of digital finance ecosystems. The study classifies the most important legal tools as obstacles, facilitators, or hybrids based on statutes, policy reports and international standards of 2015-2025 using a doctrinal and comparative approach. The results indicate that those countries that have taken adaptive legal governance like open banking resolutions of Brazil, data protection framework of Kenya and decentralized innovation model of the Philippines are more mature in regulations and financially inclusive. India and Nigeria on the other hand have high levels of statutory frameworks, but are limited by centralized regulation and inter-agency coordination. The analysis also finds data governance, interoperability and local autonomy as conclusive variables between law and performance of innovation. The paper finds that sustainable digital financial ecosystems need principle-based, collaborative and adaptive regulatory frameworks that are balanced between innovation and consumer protection. Explaining the symbiotic association between legal transparency, institutional synergy and regulatory versatility, this study will provide a model that can be replicated to enhance financial inclusion and digital governance in the entire Global South.
Digital Financial Services, Legal Frameworks, Financial Inclusion, Open Banking, Data Governance, Emerging Economies
Disability and Assistive Technologies for the Orthopedically Challenged: A Sociological Commentary
Assistive technologies (AT) are meant to represent opportunity for those with orthopaedic disabilities, but it’s not quite that simple. The potential for mobility and independence that technology has the capacity to offer for persons with orthopaedic disabilities is constantly challenged by the stigmata of society, affordability of devices, the lack of service delivery, and insufficient policies. This commentary examines assistive technologies in a critical, sociological way by drawing on the contrasting concepts of the medical model of disability, social model of disability, and more recently Critical Disability Theory. This article seeks to analyse the accessibility and abandonment of ATs, along with the psychosocial adaptation and cultural ideas of disability. Assistive technologies are social artefacts just as much as they are tools, influenced by political economy, culture, and social power. The article aims to challenge approaches that are charity-based or donor driven, and questions assumptions of inclusion, transitioning to rights-based, user-centred models based on lived experience, of persons with orthopaedic disability, informed by Universal Design.
Assistive technology, disability, medical model, social model, Critical Disability Theory
Financial Resilience and Risk Optimization in Emerging Economies: A Behavioural Finance Perspective
This paper examines the interlinkages between behavioural finance, financial resilience, and risk-optimization strategies in emerging economies. Building on recent empirical and theoretical work, the study synthesizes how investor and managerial cognitive biases, social dynamics, and institutional constraints shape resilience at household, firm, and systemic levels. We develop a conceptual framework that integrates behavioural channels (heuristics, loss aversion, overconfidence, herding) with structural determinants of resilience (financial depth, market liquidity, macroeconomic policy credibility and regulatory buffers). Using this framework, the paper identifies mechanisms through which behavioural biases amplify vulnerability to shocks (e.g., sudden capital flow reversals, commodity price swings, policy uncertainty) and how targeted interventions—financial literacy, behavioural-aware regulation, countercyclical macroprudential tools, and market-structure reforms—can improve allocation efficiency and reduce tail risk. The contribution is threefold: (1) it articulates a multi-level model linking individual and collective behavioural responses to measurable resilience outcomes; (2) it surveys and synthesizes the recent empirical literature to isolate robust patterns and inconsistent findings across regions; and (3) it proposes a prioritised research and policy agenda that operationalizes behavioural insights into risk-optimization practices for regulators, financial institutions and development agencies. The paper concludes by outlining empirical strategies (quasi-experiments, panel econometrics, agent-based modelling) suitable for testing the framework, and by discussing limitations and ethical implications of behavioural interventions in financially fragile contexts. This integrative perspective aims to guide both scholars and practitioners seeking pragmatic, evidence-based approaches to strengthen financial resilience in emerging markets.
behavioural finance, financial resilience, emerging economies, risk optimisation, macroprudential policy, investor behaviour
Investor Psychology and Adaptive Risk Optimization Strategies in Volatile Emerging Financial Markets
This paper examines investor psychology and adaptive risk-optimization strategies in volatile emerging financial markets. It synthesizes behavioral finance theories: loss aversion, overconfidence, herding, and limited attention with empirical evidence from emerging-market equities, fixed income, and local-currency instruments. We discuss how psychological drivers interact with market microstructure, liquidity constraints, and macro-financial shocks to produce amplified volatility and regime shifts. The study then evaluates adaptive risk-management frameworks that explicitly incorporate behavioral signals (sentiment indices, attention proxies, and retail flow data) into dynamic portfolio allocation and volatility forecasting. We compare model classes including shrinkage-based covariance estimators, adaptive minimum-variance and risk-parity approaches, and machine-learning and reinforcement-learning methods aimed at regime detection and real-time weight rebalancing. Empirical strategies for emerging markets, where data sparsity, non-stationarity, and higher transaction costs prevail, are emphasized. The paper proposes an integrative framework that (1) uses investor-psychology indicators to inform regime classification, (2) applies adaptive covariance targeting and shrinkage in low-data settings, and (3) employs cautious, behavioral-aware execution rules to limit adverse feedback loops from mechanical rebalancing. We conclude with policy and practitioner implications for improving market resilience, and outline avenues for future research on explainability, data governance, and field experiments in retail investor education.
Investor Psychology; Behavioral Finance; Emerging Markets; Adaptive Risk Optimization; Sentiment Analysis; Volatility Forecasting
Financial Reporting Transparency in the Insurance Sector: Legal Disclosure Obligations, Consumer Trust, and Business Sustainability
Financial reporting transparency has emerged as a critical mechanism for addressing information asymmetry, strengthening market discipline, and enhancing trust in regulated financial sectors, particularly insurance. The study examines the role of financial reporting transparency in the insurance sector by integrating disclosure theory, legal enforcement frameworks, consumer trust literature, and sustainability perspectives. Drawing on a comprehensive narrative review of accounting, legal, and insurance scholarship, the paper analyses how transparent financial reporting improves market efficiency, supports solvency regulation, and facilitates effective regulatory oversight. The analysis further highlights the importance of enforcement mechanisms, institutional quality, and standardized disclosure regimes in ensuring that transparency objectives are realized in practice. Special attention is given to the behavioral dimensions of transparency, including information overload and trust formation, which influence policyholder decision-making in complex insurance markets. The study also explores the implications of evolving accounting standards, particularly International Financial Reporting Standard 17 (IFRS 17), for disclosure quality, pricing strategies, and long-term business sustainability. Overall, the findings suggest that financial reporting transparency functions not merely as a compliance requirement but as a strategic governance tool that reinforces consumer confidence, financial stability, and sustainable performance in the insurance sector. The paper concludes with policy and managerial implications for regulators and insurers seeking to enhance disclosure effectiveness in increasingly complex financial environments.
Financial Reporting Transparency, Insurance Sector, Legal Disclosure Obligations, Consumer Trust, Business Sustainability
Managing Consumer Trust Via Marketing Disclosures And Transparency In Insurance Products
Insurance products have high uncertainty, future orientation, and intangibility, which make consumer trust a key defining factor of participation in the market and long-lasting relationships. The ongoing apprehension about obscure terms and conditions, complicated language of the policies, lack of transparency in claims process, and asymmetry of information keeps casting doubt on the insurers, especially in the ever-digitized and algorithm-driven insurance context. The research question presented in this study is that marketing disclosures and operational transparency determine consumer trust and vice versa, and the study also looks into the effect of trust on the important behavioural outcomes, including purchase intention, renewal intention and recommendation behaviour. Basing the research on the theory of signalling and on the marketing contexts based on trust, the study hypothesises that clear, full and correct disclosures work as signals to minimise information asymmetry and create an understanding of the honesty and ability of insurers. Based on survey data of 400 current and prospective insurance consumers in an emerging market setting, the paper applies confirmatory factor analysis and structural equation modelling in testing hypothesised relations between marketing disclosures, operational transparency, consumer trust and behaviour outcomes. The results show that the marketing disclosures and the transparency of operations have strong and positive effects on consumer trust. Consumer trust on the other hand has a powerful positive impact on the behavioural outcome and partly mediates the impact of disclosures and transparency on consumer behaviour. Further discussion shows that the relationship between disclosures/transparency and trust as well as perceived product complexity are positively linked to product involvement, and perceived product complexity has a negative association with trust, as well as the significance of simplicity and clarity in insurance communications. The findings highlight the fact that transparency is not just a regulatory or ethical requirement, but a strategic asset which can deliver quantifiable benefits of behaviour. To the practitioners, the research underlines the necessity of consumer-based disclosure practices, simplified communication and observable operations especially in high involvement segments. In general, the study adds to the body of the insurance research, by providing an empirical relationship between the marketing disclosures and operational transparency with the trust-based behavioural results, which can be applicable to the insurers in the complex and trust-sensitive market
Consumer trust; Marketing disclosures; Operational transparency; Insurance behaviour
Insurance Contracts: Decoding the special case of partial implementation of Insurance Accounting Standard Ind AS 117 in India
Insurance contracts globally are accounted for as per IFRS 17 and in India the equivalent accounting standard is Ind AS 117, which represents a significant transformation in accounting for insurance contracts. Accounting for insurance contracts is applicable not only for insurance companies but also for non-insurance companies (as they also may have insurance contracts). However, the implementation of Ind AS 117 was initially notified for all companies in August 2024 as being effective from April 1, 2024 but subsequently on September 28, 2024, it was deferred only for insurance companies (to April 1, 2027). Interestingly, it was still made effective for non-Insurance companies (for their insurance contracts). The existing (global) research studies the issues around implementation of IFRS 17 globally but there is very little, if any, study on Indian scenario partly because it is a new standard. This paper fills the research gap by being (one of the) first paper to study the Indian scenario on partial implementation of Ind AS 117. The study employed 144 respondents for primary data survey, which included 72 responses from 12 insurance companies and 72 responses from 25 non-insurance companies. Using appropriate statistical and econometric tools, I find that the decision to defer the implementation for insurance companies was primarily because of operative complexity, unavailability of data, actuarial readiness, restrictions in IT framework and level of industry preparedness. For non-insurance companies, I find that Ind AS 117 requires accounting judgements, changes in accounting basis and raises disclosure requirements and compliance costs.
IFRS 17, Ind AS 117, Insurance contracts, Insurance Companies, Deferment, Non-Insurance Companies, India
The Role of Marketing in Shaping Public Policy and Institutional Environment towards the Circular Economy
A lot of changes are going to have to happen in public policy, market institutions, and business practices and consumer behavior in order to make the transition from the current linear "take-make-dispose" model to a circular economy (CE). The majority of the literature recognizes that marketing can promote circular products and sustainable consumption. However, there is a lack of theory and practice when it comes to marketing's strategic and upstream role in advocating for institutional and policy change. Researching the marketing tactics, discourses, and players that have an impact on the push for a circular economy policies and frameworks is the main goal of this thesis. Case studies, mixed-methods research, and a sequential research design are the building blocks of this study's profile of key marketing players, influence mechanisms, and marketing outcomes in CE policymaking. The study draws quantitative and qualitative data from surveys, case studies, and interviews with industry elites. By studying sustainability transitions through the lens of marketing as institutional action, this study aspires to provide an integrated framework. Through the incorporation of institutional and policy frameworks, this work aims to improve marketing literature. It will also provide marketers and policymakers with a practical framework to aid in the marketing, advocacy, policy-making, and governance processes surrounding the circular economy.
Circular Economy; Marketing Strategy; Public Policy; Institutional Environment; Sustainability Transitions
Digital Forensics in Cybercrime Investigations: Legal and Technical Challenges
The rapid proliferation of digital technologies has transformed the nature, scale, and complexity of cybercrime, making digital forensics a cornerstone of modern cybercrime investigations. Digital forensics involves the systematic identification, preservation, analysis, and presentation of digital evidence to support legal proceedings. However, investigators face significant legal and technical challenges that can undermine the effectiveness and admissibility of such evidence. This paper critically examines the dual dimensions of these challenges. On the legal front, issues such as jurisdictional conflicts, cross-border data access, privacy and data protection regulations, chain of custody, and the admissibility of electronic evidence pose persistent obstacles, particularly in cases involving cloud computing and transnational cybercrimes. From a technical perspective, the study highlights difficulties arising from encryption, anonymization technologies, anti-forensic techniques, massive data volumes, heterogeneous devices, and the rapid evolution of cyber tools and platforms. The paper further explores the gap between technological advancements and existing legal frameworks, emphasizing the need for harmonized laws, standardized forensic procedures, and continuous capacity building for investigators and judicial authorities. By synthesizing current practices, case law trends, and emerging technologies, this research underscores the necessity of an integrated legal-technical approach to digital forensics. The findings aim to contribute to policy development, forensic readiness, and the strengthening of cybercrime investigation mechanisms in an increasingly digitalized society.
Digital Forensics, Cybercrime Investigation, Electronic Evidence, Legal Challenges, Technical Challenges
Copyright (c) 2025 International Insurance Law Review https://creativecommons.org/licenses/by-nc-nd/4.0
Deception, Honeytraps, And Financial Exploitation in Personal Relationships: Legal Pathways for Protection and Redress
Trust is an extremely important resource and a potentially dangerous threat in the modern business environment, personal relationships and online communication. Trust is an asset of ours and a greatest weakness in a period where people can reach out to each other on an emotional level easily. The 21st century has revolutionized the concept of intimacy. Discussion now occurs on a screen, romance has become virtual, and dating is usually a mouse-click. However, behind this otherwise refined manner of individuals becoming acquainted with one another is a frightening reality, the trust has turned into a weapon. What starts with a feeling of warmth, friendship and emotional involvement, usually turns out to be lying, manipulation and financial exploitation. The issue of a so-called honeytrap where emotional or sexual contact is feigned with the view of exploiting, blackmailing, or extorting has become a big social and legal concern. These scandals are no longer limited to spies and scandals with celebrities. This is making them grow more significant to professionals, businesspeople, students and ordinary people. Their working styles are too often gruntingly alike. A person is contacted via dating application, social media, or even a work-related talk. It painstakingly develops emotional rapport, pushes comfort zones and after trust has readily developed the lying begins. It may begin as a solicitation of funds but it may soon degenerate into coercion, blackmail or even threats of exposure through personal communications or photographs. Under the guise of emotional trust, personal information or private business or data are stolen in more complicated situations. This compounds emotional and financial fraud that is not only very complex but damaging as well.
Management of Financial Stability in Insurance Firms: Legal Mechanisms, Prudential Supervision and Policyholder Protection
Financial markets remain very crucial in the economic growth and well-being of the society. Risk management is also centralized in the insurance sector where in case of losses; the insurers provide financial covers. Regulatory measures and oversight should be kept to be in order to make sure that insurers remain not going under as well as that they keep their commitments and liabilities to policyholders and remain not going under in the economic crunch. It assesses the legal mechanisms and prudential laws that regulate insurance companies in a few countries, such as the United Kingdom, the United States, Germany and Japan. The data was collected by reviewing legal texts, case law and regulatory documents combined with interviewing of experts in the insurance industry who remain legal professionals and regulators. United Kingdom and Germany use moderate regulatory policies with moderate capital requirements and Japan has stricter regulations ensuring that the insurers remain stable. The United States has the least rigid system which may be at the price of long-term stability. United Kingdom and Germany were scoring the highest on prudential supervision and the United States and Japan have newer but less comprehensive frameworks. The paper discusses the need to enhance financial stability, enhance prudential supervision, and policyholder protection to establish robust insurance markets. The presented comparative insights will be helpful in the global discussion about best practices of insurance regulation and point to the areas of improvement and in particular in the new markets.
Insurance regulation, financial stability, prudential supervision, policyholder protection, global regulation.
FRAGMENTED JUSTICE: CONSOLIDATION AND CONSENT IN MULTI-PARTY INSURANCE ARBITRATION
Large commercial insurance disputes are created from a single incident but typically involve many different insurers and numerous contracts. In this way, each individual contract will have its own separate arbitration clause. The result of this type of structure is that instead of one formal consolidated arbitration proceeding, there will be several arbitrations occurring simultaneously. This fragmentation will result in an increase in both; (1) costs, (2) delays, and (3) the potential for inconsistent results across each arbitration. Models currently established for resolving disputes will encounter challenges when attempting to effectively manage this type of situation. Court cases have jurisdiction limitations and a lack of adequate jurisdictional enforcement outside of domestic borders. ad hoc arbitration requires both parties to give express consent at the time of entering into the contract, thus it will not provide for any form of coordination of the arbitrations as there are no built-in mechanisms for coordinating multiple arbitrations under an ad hoc format. Therefore, the question becomes, can an Institutional arbitration effectively address the need for coordination. The author addresses this question using both a doctrinal and comparative approach. This article will focus on how institutional rules provide for the consolidation and joinder of arbitrations. Additionally, this article will evaluate the consolidation and joinder mechanisms based on the fundamental tenets of arbitration law; consent, jurisdiction, procedural fairness, and enforceability pursuant to the New York Convention and UNCITRAL Model law. Through the analysis of institutional rules, it is clear to the author that institutional rules provide for and clearly define Consent prior to the commencement of the Arbitration by the development of an established procedural framework. This procedure permits for coordinated adjudication while still permitting parties to maintain their Independence. Additionally, the use of a procedural framework to consolidate renders the Enforcement of the Awards less problematic due to the alignment of the process to the procedural due process principles that will be applied by the Courts at the Seat and Enforcement of these Awards. The paper discusses how fragmented procedures affect how resources are allocated. There are multiple arbitration processes happening at the same time increasing costs and adding complexity. This pressure is put most heavily on the weaker party both by structure and financially especially to the lower and female dominated insured organisations. As institutional consolidation begins to remove any redundancy and give easier access to the arbitration system, coordination between institutions should create a more efficient way to provide access and ultimately resolve their disputes while adhering to arbitration law. This paper asserts that with multi-party insurance disputes, the method for achieving coordinated enforcement decisions through the arbitration process is through institutional arbitration being an option for that stability under arbitration law.
Insurance Disputes; Institutional arbitration; Consolidation; Multi-Contract Arbitration
Bridging Innovation and Trust: A Mediated Model of FinTech Startup Success in Emerging Economies
Purpose: This study investigates the determinants of success for FinTech startups in emerging economies, emphasizing the mediating role of innovation capability (IC) in transforming technology adoption, security, and customer trust into sustainable performance. Design/methodology/approach: Using a quantitative design, the study collected responses from 287 FinTech startups across India through a structured questionnaire. Partial Least Squares Structural Equation Modeling (PLS-SEM) was applied to assess the direct and mediated effects among key constructs Findings: The results confirm that technology adoption, security, and transparency significantly enhance customer trust, which in turn drives startup success. Crucially, innovation capability mediates these relationships—strengthening the pathways from technology, trust, and security to performance. The structural model shows strong explanatory power (R² > 0.40) and robust model fit (SRMR < 0.08). Practical implications: The findings offer actionable insights for founders and investors: investing in innovation capability enhances the value of foundational trust and technological infrastructure. Policy support for innovation-driven FinTech ecosystems can accelerate success in emerging markets. Originality/value: This study contributes a novel mediated model linking technological and relational enablers to FinTech success, with innovation capability as the central mechanism. It enriches FinTech and startup literature by clarifying how innovation bridges trust and technology in volatile, high-growth environments.
FinTech startups, innovation capability, technology adoption, customer trust, startup success, PLS-SEM, emerging economies
Cryptocurrencies and the Future of Monetary Policy in Emerging Economies
The rapid proliferation of cryptographic assets presents a paradigm shift for the global financial architecture, posing distinct challenges and opportunities for emerging market and developing economies (EMDEs). Unlike advanced economies, many EMDEs grapple with persistent macreconomic volatilities, underdeveloped financial systems, and a history of currency instability. This paper examines the multifaceted implications of cryptocurrencies for the future conduct of monetary policy within these specific contexts. It argues that while cryptocurrencies offer potential benefits such as enhanced financial inclusion and reduced transaction costs for remittances, they simultaneously introduce significant threats to monetary sovereignty, exchange rate management, and the effectiveness of conventional monetary policy transmission mechanisms. The pervasive adoption of decentralized digital currencies could potentially undermine the central bank's role as the lender of last resort and erode the demand for domestic currency, thereby complicating inflation control and financial stability mandates. This research synthesizes existing literature to analyze these dualities and proposes a critical evaluation of policy responses, including the potential role of Central Bank Digital Currencies (CBDCs) as a strategic countermeasure to preserve monetary policy efficacy in the digital age.
Cryptocurrency, Monetary Policy, Emerging Economies, Financial Inclusion, Central Bank Digital Currency (CBDC), Monetary Sovereignty.
Digital Engagement and Customer Loyalty in Retail: The Mediating Role of Perceived Service Quality
Purpose: In this study, the mediating role of perceived service quality (PSQ) in the relationship between digital engagement (DE) and customer loyalty (CL) in retail commerce is assessed, particularly in the context of omnichannel shopping settings. Design/methodology/approach: Using data from 350 Indian retail customers who shop both online and offline, this research uses Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze the interconnections among DE, PSQ, and CL. Findings: Digital engagement positively influences perceived service quality in a significant manner (β = 0.633, p < 0.001) and customer loyalty (β = 0.453, p < 0.001). Perceived service quality further has a beneficial effect on customer loyalty (β = 0.467, p < 0.001). Mediation assessment verifies that PSQ partly bridges the interconnection between DE and CL (β = 0.295, p < 0.001), accounting for a 69.1% variance in customer loyalty (R² = 0.691). Implications: Retailers should focus on providing uniform and superior service encounters across digital and physical platforms to enhance customer loyalty. Investments in digital tools must be complemented by improvements in service responsiveness, reliability, and personalization. Originality/value: This study bridges traditional service quality models with digital retail strategies, providing theoretical and practical insights into how digital engagement and perceived service quality collectively shape customer loyalty in today’s omnichannel retail landscape.
Retail, Customer Loyalty, Perceived Service Quality, Digital Engagement.
Digital Financial Literacy 4.0: Consumer Readiness for AI-Driven Fintech and Blockchain Ecosystems
The advent of Digital Finance 4.0 marks a new era in the global financial ecosystem driven by artificial intelligence (AI), blockchain, and advanced analytics. This transformation requires consumers to possess enhanced levels of Digital Financial Literacy (DFL) a multidimensional skill set that integrates traditional financial knowledge with digital, technological, and cybersecurity competencies. This study examines consumer readiness for AI-driven fintech and blockchain ecosystems across selected urban and semi-urban centers in India. Using a mixed-method approach combining structured surveys (n=400) and sentiment analysis of fintech application reviews, the research quantifies awareness, trust, and adaptability toward emerging digital finance tools. Results indicate moderate literacy but uneven preparedness, with notable gaps in blockchain comprehension, data privacy awareness, and AI trust. Younger consumers and those with higher digital exposure demonstrate greater readiness, while older and low-income groups remain hesitant. The findings underline the urgent need for national-level financial literacy frameworks that align with the realities of AI-powered financial platforms. Policy interventions, fintech design ethics, and consumer education programs must converge to ensure equitable digital inclusion and risk-aware participation in the evolving Fintech 4.0 landscape.
Digital Financial Literacy, Fintech 4.0, Blockchain, Artificial Intelligence, Consumer Readiness, Digital Trust, Financial Inclusion, Technological Adoption
Sustainable Entrepreneurship in the Insurance Sector: The Role of Ethical Marketing and CSR in Building Consumer Trust
This paper analyses how sustainability in entrepreneurship, ethics in marketing, and corporate social responsibility (CSR) authenticity all contribute to consumer faith in the insurance industry. With increasing demands on insurers to respond to climate risk, enhance social resilience, and promote responsible governance, sustainability has taken on a characteristic role in strategic orientation within the industry. Based on an integrative mixed-method approach that incorporates doctrinal legal analysis, thematic analysis of ESG and CSR disclosure data, and simulated consumer-perception data, the study builds a multidimensional model where organizational sustainability strategies are linked with market-level trust results. The findings reveal that ethical marketing, which is marked by transparency, accuracy, and fair play, is a direct behavioural signal that promotes consumer trust. CSR authenticity is a long-term use of stabilising trust, the effects of which can depend on whether corporate statements and substantive actions match. Sustainable entrepreneurship is at the heart of these dynamics because it reconciles insurer innovation and governance to what society expects of environmental and social responsibility of the insurers. Trust is also enhanced by regulatory frameworks such as new ESG disclosure standards that enhance transparency and reduce the risks of greenwashing. It also exposes a number of gaps in research and research methodology, such as the use of simulated data and the lack of cross-cultural empirical validation. It finds that genuine, strategically combined sustainability conducts are necessary to enhance consumer confidence in an ever-ESG-aware insurance market
sustainable entrepreneurship; ethical marketing; corporate social responsibility; consumer trust; insurance sector; ESG regulation; sustainability communication
From Financial Capability to Financial Peace: The Conditional Roles of Stress,Literacy, and Psychological Resilience
Financial wellness extends beyond objective financial resources to encompass individuals’ ability to manage financial stress and effectively leverage cognitive and psychological resources. This study investigates how financial capability contributes to Financial Peace by explicating the mediating role of financial stress and the conditional influence of financial literacy and psychological resilience. Drawing on survey data, the study employs a conditional process framework that integrates mediation and moderation to capture the complex and interdependent pathways through which financial capability translates into sustained financial well-being. The findings indicate that financial capability enhances Financial Peace both directly and indirectly through its influence on financial stress. Importantly, financial literacy and psychological resilience emerge as critical enabling resources that condition this process. These factors strengthen the positive effects of financial capability, buffer the detrimental impact of financial stress, and enhance individuals’ capacity to convert financial skills and resources into enduring financial wellbeing. The results demonstrate that Financial Peace is not a linear outcome of financial capability alone, but a multidimensional state shaped by the interaction of financial, cognitive, and psychological factors. This study contributes to the financial well-being and behavioral finance literature by advancing an integrated framework that jointly accounts for capability, stress processes, and personal resources. The findings offer important implications for multiple stakeholders. For individuals, they underscore the importance of combining financial skills with literacy and psychological resilience. For educators, employers, and professional institutions, the results support integrated interventions that align financial education with stress management and resilience development. For policymakers, the study provides evidence for holistic financial wellness strategies that address both economic and psychosocial dimensions, thereby fostering sustainable and inclusive financial well-being outcomes.
Financial Capability, Financial Stress, Financial Literacy, Psychological Resilience, Financial Peace
Can Fast-Food be Considered as Healthy?: Unveiling Consumer Perception and Attitude Through a Hybrid Review
The current study examines consumer perceptions and attitudes toward the healthiness of fast food through a hybrid review using bibliometric analysis and the TCCM framework. The current study recognizes three major questions: recognition of the leading contributors in the field, identification of trends in theory and methodology, and projecting possible roads ahead for fast food as a healthy choice in diets. The key findings highlight there was a minor decline in fast-food research from 2021 to 2024, presumably because of the COVID-19 pandemic in 2020. Fast-food research experienced substantial increase between 1997 and 2021. The TCCM framework offers a comprehensive overview of fast-food health perception research by highlighting theories like the Health Belief Model, Theory of Planned Behaviour etc. It captures diverse dimensions of consumer attitudes, such as health beliefs and social influences. The framework also supports varied research methods, from surveys to experiments. The study suggests dynamic consumer attitudes shaped by public health campaigns, menu innovations, and global events, providing implications for future research, industry practices, and policymakers to promote healthier fast-food options.
Hybrid Review, TCCM, Consumer Perception, Consumer Attitude, Fast Food, Healthy Eating.
Statistical Assessment of Inception Return and Systematic Risk on the Reward–Risk Performance of Artificial intelligence-based Quant Mutual Funds in India
This study explores the influence of Inception Return and Systematic Risk on the Sharpe Ratio of equity-based quant mutual fund schemes in India. These schemes employ predictive analytics, Artificial Intelligence (AI), Big Data, and algorithmic trading to optimize portfolio strategies. Seven equity-oriented quant mutual fund schemes managed by Quant Money Managers Ltd. were selected based on their portfolio turnover ratios. Using regression analysis, the study evaluates the extent to which inception return and systematic risk affect risk-adjusted returns. Findings suggest a statistically significant relationship between these factors and Sharpe Ratio performance, providing valuable insights for fund managers and retail investors.
Quant Mutual Fund, Predictive Analytics, Artificial Intelligence (AI), Big Data, Machine Learning, Algorithm Trading, Sharpe Ratio, Systematic Risk, Inception Return, Total Risk, BETA
Financial Risk Tolerance Among Portfolio Investors: Evidence from Bengaluru, India
This study investigates the determinants of financial risk tolerance among portfolio investors in Bengaluru City, focusing on the roles of demographic characteristics, financial literacy, and investment experience. Adopting a descriptive research design, data were collected through a structured questionnaire administered to purposively selected investors meeting a minimum investment threshold. The measurement model was validated through reliability testing, confirmatory factor analysis, and assessments of convergent and discriminant validity, confirming strong internal consistency and construct distinctiveness. Structural equation modelling was employed to test the proposed hypotheses, revealing significant positive relationships between financial literacy, investment experience, and financial risk tolerance, with investment experience demonstrating a slightly stronger effect. The model exhibited substantial explanatory and predictive power, underscoring its practical applicability for understanding investor behaviour. Findings indicate that enhancing both financial knowledge and experiential exposure can meaningfully increase willingness to take financial risks. The results offer valuable implications for financial advisors, policymakers, and fintech platforms seeking to design targeted interventions that strengthen investor confidence and informed decision-making in urban financial markets. The study also provides a foundation for further exploration of psychological and contextual influences on risk-taking behaviour in diverse investor populations.
Risk tolerance, financial literacy, investment experience and portfolio management
A Conceptual Framework for Managing Institutional Risk in Education: Legal, Insurance, and Governance Perspectives
Educational institutions today operate in increasingly complex environments shaped by legal obligations, evolving pedagogical models, digital transformation, and heightened expectations for safety and accountability. As schools and higher education institutions expand their functions, they face a diverse spectrum of risks—ranging from operational disruptions, cyber threats, and financial uncertainties to student safety, reputational damage, and regulatory non-compliance. Despite the growing risk exposure, the education sector often lacks an integrated framework that connects legal compliance, insurance protection, and governance-driven risk management. This conceptual paper proposes a comprehensive framework for managing institutional risk in education by synthesizing perspectives from education law, insurance studies, organizational governance, and risk management theories. The paper maps the landscape of institutional risks and examines how legal mandates, liability standards, and regulatory frameworks influence institutional responsibilities. It further analyses the role of insurance mechanisms—such as institutional liability insurance, cyber insurance, professional indemnity, and student safety coverage—in strengthening institutional resilience. Additionally, the study highlights how governance practices, including policy design, stakeholder accountability, internal control systems, and ethical leadership, contribute to proactive risk mitigation. The proposed conceptual framework illustrates the interdependence of legal, insurance, and governance dimensions in building safer, compliant, and sustainable educational institutions. By integrating multidisciplinary insights, the paper offers a strategic foundation for policymakers, educational leaders, risk managers, and insurance providers to develop robust risk preparedness models. The study concludes with implications for practice and future research, emphasising the need for context-specific policies and evidence-based mechanisms to support risk-resilient and future-ready educational ecosystems.
Institutional Risk in Education, Legal Compliance and Liability, Insurance Mechanisms, Governance Frameworks, Organisational Resilience in Educational Institutions
Is Academic excellence in Diversity & Inclusion, Competency-Based Learning, and AI-Driven Learning influenced by Wellness and Institutional Support and faculty engagement?
The evolving landscape of higher education are increasingly influenced by the aspects of Diversity & Inclusion (D&I), Competency-Based Learning (CBL), and AI-driven Learning (AI_LS) to promote academic achievement. This study investigates if success in education is dependent on Emotional Well-Being (EW), Institutional Support & Faculty Engagement (IS&FE). Using SEM and SmartPLS 4, the data comprising higher education students’ responses was analysed to understand such interdependencies. Results indicate that AI_LS increases the Academic Performance (AP) significantly (β = 0.515) due to their positive effect on Engagement in Learning (EW) (β = 0.363). CBL has a positive contribution to engagement as well (β = 0.146), while D&I has a lower direct effect (β = 0.109), and no indirect impact on academic performance. The IS&FE moderator in some cases was weak and negative, meaning that insufficient institutional support hindered proper learning. The validity of the model is confirmed by the model fit indices, although there adequacy of AI-based metrics is questionable (AI_LS = 0.453). These results imply that D&I, CBL, and AI learning are part of academic performance drivers, but their impact is determined by the degree of institutional support and wellness initiatives integration. This study provides insight into how strategic faculty involvement and institutional alignment can effectively enhance AI-enabled learning and competency-based Learning education.
Competency-Based Learning, AI-Driven Learning, Diversity & Inclusion, Emotional Well-Being, Institutional Support, Higher Education, Structural Equation Modelling (SEM).
Ensuring Performance Through Digital HR: Exploring the Impact of Human Resource Digital Transformation and Demographic Moderators in GIC Re
The study investigates the influence of Human Resource Digital Transformation (HRDT) on Employee Performance (EP) in the General Insurance Corporation of India (GIC Re). The study aims at investigating Human Resource Digital Transformation (HRDT) through its four critical aspects that include Digital Disruption (DD), Digital Workforce (DW), and Artificial Intelligence (AI), and Human Resource Automation (HRA). These elements work together to develop new HR operations system that boosts the operational efficiency of an organization. The study uses structural equation modelling to assess the effect of HRDT variables and the HRDT employee performance effect. According to a study, HRDT will provide a positive impact on Employee Performance (EP) as the implementation of digital transformation enhances employee productivity and work engagement. The research findings show that HRDT will certainly be able to impact positively in relation with EP but demography characteristic either gender and age and job title will only slim effect in relation with HRDT and EP. Results show that HRDT is generally beneficial in producing stable performance effects with various employee groups. According to the data of Indian Reinsurance, public sector HR transformation being done through technology helps in better performance maintenance of employees which in turn enhances their performance.
Human Resource Digital Transformation, Digital Disruption, Digital Workforce, Artificial Intelligence, HR Automation, Employee Performance, Gender, Age, Designation, GIC Re, India
Circular Economy and sustainable consumption- Antecedents of zoomers intention to buy preowned Mobile Phones
E-waste generation is rising rapidly, with mobile phones among the most hoarded small electronics despite usability (International WEEE Forum, 2022). The shift from linear to circular smartphone markets depends on consumer participation, where refurbishment offers lower environmental and economic costs than new device This mixed-methods study explores antecedents shaping Zoomers’ (Generation Z) intention to buy pre-owned mobile phones within sustainable consumption, green purchase intention, and e-waste reduction frameworks. Quantitative analysis and semi-structured interviews reveal key drivers: environmental awareness, perceived value, quality assurance, and social endorsement amplified through Twitter-based peer influence. Adoption barriers include distrust in reseller platforms, perceived obsolescence, loss of unboxing excitement, low price differential, and social stigma linked to phone-based status signaling. Findings highlight the intertwined nature of economic, emotional, environmental, and social factors, offering strategic insights for circular mobile markets targeting Gen Z.
Circular economy, sustainable consumption, e-waste reduction, pre-owned phones, green purchase intent, Generation Z, trust barriers