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
AI-driven augmented reality for immersive hospitality and tourism experiences
Integrating artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) has significantly transformed businesses worldwide. However, there is a lack of comprehensive studies in this field. This research aims to examine how AI-driven AR and VR technologies influence consumer decision-making process in the hospitality and tourism sectors, with a focus on their impact on customer engagement and purchase confidence and how they will change the industry, particularly, the use of devices like Apple’s Vision Pro, a spatial computing headset that integrates augmented reality (AR), virtual reality (VR), and artificial intelligence (AI) to create immersive, interactive digital experiences. The device lets traveler’s experience immersive previews of destinations and accommodations, improving consumer confidence and engagement. This leads to purchasing behaviour and strengthens the bond between the consumer and the service provider; additionally, AI-driven customisations generate content that matches individual preferences, thereby increasing satisfaction. By integrating multiple data sources (e.g., research literature and expert opinions), we found that early adopters of these technologies are likely to gain a significant competitive advantage. They can differentiate themselves in hospitality and tourism by offering interactive experiences that boost bookings and brand loyalty. Customers increasingly expect reliability, empathy, and personalized service at every stage of their experience. This research fills the gap by providing empirical evidence on how immersive AI-driven experiences influence consumer behaviour, decision-making, and brand perception. However, implications and challenges such as high implementation costs and the need for a user-friendly design persist. As AI, VR, and AR become more accessible, their role in hospitality and tourism is expected to grow, reshaping how travellers interact with services and make informed choices.
Augmented reality, artificial intelligence, virtual reality, tourism, hospitality, consumer behaviour
Copyright (c) 2026 International Insurance Law Review https://creativecommons.org/licenses/by-nc-nd/4.0
Understanding Gendered Perspectives of Experiential Marketing in Generation Z
This study investigates the experiential perception of buying behavior among Generation Z, focusing on gender differences using an independent t-test analysis. The primary objective is to understand the gendered perspectives of experiential marketing within Gen Z consumers. The research utilizes primary data collected from 654 respondents, comprising 467 males and 177 females, all belonging to Generation Z.T test is used for checking significance level.The findings reveal that customer satisfaction correlates more strongly with females than males across several experiential marketing dimensions, including smell, act, sense, feel, word-of-mouth (WOM), and willingness to purchase. These results suggest that female consumers in Gen Z may respond more positively to sensory and emotional elements of experiential marketing, which in turn influences their buying decisions more significantly compared to their male counterparts. Despite these insights, the study is limited by its cross-sectional design, which restricts the ability to draw conclusions over time. Therefore, the generalizability of the findings may be enhanced by future longitudinal studies that track experiential perception and buying behavior trends over extended periods. Additionally, the study opens avenues for further research from the marketers’ perspective, exploring how experiential marketing strategies can be optimized to cater to the nuanced preferences of different gender groups within Gen Z. Such investigations could provide valuable insights for creating targeted, gender-sensitive marketing campaigns that effectively engage this influential consumer segment.
Constitutional Validity of AI-Based Surveillance in India: Privacy vs. National Security
India’s rapid adoption of artificial intelligence (AI)-powered surveillance technologies has ignited a fierce constitutional debate about the balance between individual privacy rights and state-driven national security imperatives. Since 2019, the government has deployed facial recognition systems in major railway stations, integrated AI into urban policing, and announced plans to launch 50 AI-powered satellites for surveillance14. These developments occur against a backdrop of inadequate legal safeguards, raising critical questions about compliance with the Supreme Court’s landmark Puttaswamy judgment (2017), which recognized privacy as a fundamental right under Article 21 of the Constitution27. This report examines the constitutional validity of AI surveillance frameworks, analyzes the tension between privacy and security, and proposes reforms to reconcile these competing interests within India’s democratic framework.
Next-Generation Sequencing and Artificial Intelligence in Prenatal Down Syndrome Screening: Legal and Regulatory Implications for Health Insurance, Medical Liability, and Genetic Data Protection
The integration of Next-Generation Sequencing (NGS) and AI have made Down syndrome prenatal screening earlier, more accurate, and non-invasive. These technologies offer better therapeutic outcomes and less diagnostic uncertainty, but widespread implementation poses difficult legal, ethical, and insurance issues. This research critically investigates how AI-assisted NGS-based prenatal screening affects health insurance coverage, medical and institutional liability, and genetic data protection. Predictive genomic data challenges risk pooling and non-discrimination in insurance legislation, especially when insurers employ prenatal genetic information in underwriting or coverage decisions. The study also examines professional liability, including diagnostic errors caused by algorithmic bias, system failure, or poor human oversight, and AI-driven genomic tool-based clinician and healthcare provider standards of care. The study also discusses GDPR and similar national laws' effects on genetic data privacy, informed consent, data ownership, and cross-border data transfer. This comparative and interdisciplinary study shows that AI-enabled prenatal genetic screening requires strong regulatory safeguards, explicit liability allocation mechanisms, and insurance changes to assure ethical, lawful, and equitable use. The report closes with policy recommendations to balance technological innovation, patient rights, legal accountability, and data security.
Quantum Enhanced Machine Learning Model for the Diagnosis of Alzheimer’s Disease
Alzheimer’s is a progressive and degenerative brain disorder causing impairment in memory and cognitive function. It is the most common form of Dementia and the prevalence of Alzheimer’s disease (AD) increases with each decade of life. This usually starts in late middle age to old age resulting in progressive memory loss, impaired thinking, disorientation and changes in personality. Neurons are first lost in the hippocampus (the brain’s centre for memory and learning), and presence of neurofibrillary tangles and plaques containing beta-amyloid cells. Owing to the progressive nature of the disease and the complex structure of the brain, the exact causes, mechanisms and how Alzheimer’s spread is not completely understood thereby inhibiting in the production of a cure for the disease. Quantum Machine Learning (QML) is a promising area of research for the detection and diagnosis of Alzheimer’s disease. PET scan helps in diagnosing Alzheimer’s by detecting the amyloid plaques and tau tangles. It reveals areas with reduced metabolism, which helps differentiate Alzheimer’s from other conditions. Quantum computing provides a more efficient model for different disease classification tasks than classical machine learning approaches. In this study, we propose a model based on quantum machine learning classifiers to classify Alzheimer’s disease. This showcases the feasibility of Quantum enhanced classification and detection of AD for extremely limited medical datasets.
DIGITAL TRANSFORMATION IN INSURANCE COMMERCE: CONSUMER ADOPTION PATTERNS AND MARKET IMPLICATIONS
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.
Portfolio Optimization under Uncertainty: Evidence from Behavioural Biases and Risk-Adjusted Performance
Portfolio optimization under uncertainty remains a critical challenge in modern finance, particularly when cognitive biases and behavioral factors distort rational decision-making. Traditional mean-variance optimization models assume investor rationality, yet empirical evidence demonstrates that loss aversion, herding behavior, and probability weighting significantly influence asset allocation choices. This study examines how behavioral biases interact with uncertainty to shape portfolio construction and performance. Drawing on prospect theory and behavioral portfolio theory, we investigate three key dimensions: (1) the relationship between loss aversion and portfolio risk tolerance, (2) the effect of herding behavior on diversification patterns, and (3) how probability distortions impact optimal asset weighting under market volatility. Using correlation and regression analysis on data from 450 retail and institutional investors, findings reveal that loss aversion (r = 0.51) and herding (r = 0.48) are the most significant behavioral predictors of suboptimal portfolio composition, while biases collectively account for 58% of variance in risk-adjusted returns. These insights challenge classical financial assumptions and provide practical guidance for behavioral-adjusted portfolio management strategies that enhance performance under uncertainty. This research bridges behavioral finance theory with practical portfolio optimization, offering evidence-based recommendations for investors and asset managers navigating complex financial environments.
Behavioral Finance, Risk adjusted returns, loss aversion and herding behavior
Digital Banking and Customer Financial Behavior
The rapid expansion of digital banking has fundamentally transformed the way individuals interact with financial institutions and manage their personal finances. This review article critically examines contemporary literature published between 2019 and 2026 to analyze the impact of digital banking adoption on customer financial behavior. Drawing on insights from behavioral finance, technology acceptance theories, and socio-economic perspectives, the study synthesizes existing research on how digital banking influences saving, spending, borrowing, and payment behaviors. The review reveals that digital banking enhances convenience, accessibility, and real-time financial awareness, thereby increasing customer engagement with formal financial systems. However, the findings also highlight mixed behavioral outcomes, with evidence of both improved financial planning and heightened risks of impulsive spending, over-borrowing, and reduced self-control. Psychological factors such as cognitive biases, trust, and perceived risk, along with technological features like interface design, automation, and digital nudges, play a crucial mediating role in shaping these behaviors. Additionally, socio-economic characteristics and digital literacy levels significantly moderate behavioral responses to digital banking. The review identifies key gaps in the literature, particularly the lack of integrative frameworks that simultaneously address technological, psychological, and socio-economic dimensions of financial behavior. The study concludes that digital banking is not behaviorally neutral and emphasizes the need for responsible digital design, consumer protection, and inclusive policies to ensure that digital banking contributes to sustainable financial well-being.
Digital Banking; Customer Financial Behavior; Behavioral Finance; Financial Decision-Making; Digital Payments; Financial Inclusion; Consumer Finance
Copyright (c) 2025 International Insurance Law Review https://creativecommons.org/licenses/by-nc-nd/4.0
A Cross-Platform Model of Audience Perception Toward Social Media Advertising: The Role of Format, Personalization, and Platform Context
This study investigates how various audience segments view social media advertising. The study investigates the ways in which several demographic groups react to different advertising tactics on social media sites like LinkedIn, Facebook, Instagram, Twitter, and TikTok. The study examines elements that impact customer perception, such as ad type, platform context, personalization, and content relevancy, using both primary and secondary data. The results show notable differences in perception according on platform choices, age, and digital proficiency, which has significant ramifications for marketers looking to maximize the efficacy of their ads. The findings show that while intrusive formats and over-personalization frequently elicit unfavorable reactions from audiences, transparency, genuine messaging, and value-oriented content greatly enhance audience receptivity to social media advertising. The research contributes to understanding the evolving relationship between consumers and digital advertisers in the increasingly saturated social media landscape.
Social media advertising, consumer perception, digital marketing, advertising effectiveness, personalization, audience engagement
A Quantum Cryptography Framework for Enhancing the Security in Wireless IoT Networks
The resource limitations of IoT nodes and the vulnerability of wireless channels to cyberattacks and snooping, the quick spread of Internet of Things (IoT) devices in wireless surroundings has created serious challenges to data security and privacy. The development of quantum computing, which can meritoriously crack classical encryption, is posing a growing threat to recognized cryptographic techniques like RSA and ECC. By applying concepts from quantum mechanics like predicament cloning, quantum cryptography, in particular Quantum Key Distribution (QKD), provides tentatively unbreakable security. In order to integrate lightweight quantum key exchange with traditional IoT communication protocols, this paper proposes a comprehensive Quantum Cryptography Framework (QCF) exactly designed for Wireless IoT networks. The framework is made to preserve energy efficiency while certifying forward secrecy, confidentiality, integrity, and authentication. A performance evaluation in terms of latency, throughput, and resistance to quantum attacks supports our discussion of the architecture, working mechanism, and implementation deliberations. The findings show that, when compared to traditional encryption methods, the suggested QCF greatly improves the security of wireless IoT systems, certifying resilience against oppositional models of the future.
Quantum Cryptography, Internet of Things (IoT), Wireless IoT, Quantum Key Distribution (QKD), Network Security, Lightweight Cryptography, Post-Quantum Security
Quantum Cryptanalysis: A Survey of Threats and Post-Quantum Countermeasures
Quantum computing will revolutionize the power of computation, solving problems that currently have no solution classically. Such a jump in computational power presents an existential threat to modern cryptography, particularly public-key systems that rely on factoring and discrete logarithmic problems. This paper presents the emerging area of PQC countermeasures and gives a survey of quantum cryptanalysis methods. A literature review of progress from 2010 to 2025 is also provided, specifically addressing the advancement of algorithms, standards and applications. For universal security of data in the quantum age, they add, it will be critical to transition to quantum-resistant infrastructures.
Quantum cryptanalysis, Shor’s algorithm, Post-quantum cryptography, Lattice cryptography, NIST PQC, Quantum threat, Quantum algorithms.
Impact of Music Familiarity and Emotional Response on Consumer Brand Engagement: An Empirical Study
Music has turned into an essential part of the contemporary brand communication and has capacity to impact consumer perceptions, emotional reactions and the levels of engagement. This is an empirical research on how consumer brand engagement is influenced by music-related factors. In particular, the research determines how music familiarity, music-brand fit, music emotional reaction, and music perceived credibility affect consumer brand engagement. A quantitative research design was used and primary data was taken among 200 consumers by using structured questionnaire on the basis of five-point Likert scale. Cronbach alpha coefficients were found to be greater than 0.70, and this was used to validate reliability and validity of the instrument. The SPSS was used to analyse the data by applying descriptive statistics, Pearson correlation, and simple linear regression methods. The results indicate that the four independent variables have a statistically significant and positive effect on consumer brand engagement. The strongest predictor has been defined as emotional response to music, then music-brand personality fit, music familiarity and perceived music credibility. The paper comes to the conclusion that the music that is carefully chosen and emotionally motivated can greatly increase the consumer interest in brands, which can be useful to marketers and brand managers.
Digital Arrest in the Cyber World: Legal Challenges and the Quest for Justice
In the digital age, the rise of cybercrime has posed significant challenges for law enforcement and the legal framework in India, the concept of digital arrest, defined as the apprehension of individuals suspected of cyber offenses through digital means and the inadequacies of existing legal provisions under the Information Technology Act, 2000, and the Bhartiya Naya Sanhita, 2023, in addressing the convolutions of cybercrime, the critical role of law enforcement agencies in combatting these offenses, emphasising the need for capacity building and inter-agency collaboration. It advocates for wide-ranging legislative reforms, enhanced public awareness, and a balanced approach to ensure justice while protecting individual rights, this seeks to contribute to the ongoing discourse on legal challenges in the cyber territory and the quest for justice in an increasingly digitised society.
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
Impact of Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 in Insurance Sector in India: An Empirical Study
This paper reviews the landscape of the insurance industry in India which is slated to grow exponentially in the next decade because of the enormous size of the population coupled with the fact of under-penetration of insurance in India. However, the technological revolution, from big data to blockchain; from industry 4.0 to artificial intelligence have all reshaped the insurance sector in the last decade. This has resulted in need for reforms to facilitate massive capital and latest technology in insurance sector. In Indian Budget 2025, Govt. announced 100% FDI in Insurance and subsequently came up with Insurance Amendment Rules in August 2025 and finally passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 with a slew of changes. It entails insurance for all by 2047 and involves changes in multiple acts pertaining to the insurance industry in India including the Insurance Act, 1938, Life Insurance Corporation Act, 1956 and Insurance Regulatory and Development Authority of India Act, 1999. To analyze the impact of these reforms, I used over 150 survey responses from employees and managers, insurance agents and policyholders to measure awareness of these reforms, their perceived enforcement and implementation and to showcase their relationship with perceived transparency. Applying various statistical and econometric tools, I find both awareness of stakeholders and effective reforms implementation significantly predict transparency positively along with showcasing strongest effect through implementation. Awareness partially mediates the effect of implementation on transparency-based outcomes. A tool transparency index evaluates its utility as a major policy tool. The research has important implications for regulators, insurance companies, policymakers and other stakeholders alike.
Insurance Reforms, Amendment of Insurance Laws, Awareness of reforms, Transparency Index, Enforcement, Transparency, Sabka Bima Sabki Raksha, Insurance for All
Regulatory Challenges in Cross-Border Insurance Transactions: An Analysis of Emerging Legal Frameworks
The rate of growth of cross-border insurance transactions has been very high in the last few years as a result of globalization of the financial market, the emergence of multinational insurance and the digital platform. Despite this growth, the global insurance sector continues to face high regulatory disintegration, which creates inconsistencies in licensing, solvency regulation, reporting and data protection. These disparities tend to raise the compliance costs and make different markets inaccessible to different insurers working in different jurisdictions. The objective of the current research was to determine the key regulatory impediments to intercountry insurance transactions, and also to test how the new global regulations, like the Insurance Capital Standard (ICS), Solvency II, and International Financial Reporting Standards (IFRS) 17, could be effective in facilitating regulatory convergence. It used a qualitative, doctrinal, and comparative research design to look at statutory frameworks, supervisory guidelines, international standards and judicial interpretations in major jurisdictions, such as the European Union, the United States, the United Kingdom, Singapore and some of the emerging markets. It was found that there were still existing gaps in the adoption and enforcement of new frameworks, with wide dispersion in standards of solvency, financial reporting practices, data protection and dispute resolution procedures. Compared jurisdictions like the EU and Singapore also showed a relatively higher alignment, but the United States and most of the developing markets had lower harmonization rates.
International Financial Reporting Standards
Workplace Diversity, Inclusion, and Employee Well-Being: A Socio-Managerial Analysis of Human Resource Strategies in Contemporary Organizations
The study examines the interrelationship between workplace diversity, inclusion, and employee well-being through a socio-managerial and legal framework within contemporary organizations, with a particular focus on the insurance sector. The main objectives were to analyze how inclusive human resource (HR) strategies influence employee well-being, assess the role of organizational compliance in promoting equality, and explore how legal frameworks shape HR practices. A mixed-method research design was adopted, integrating quantitative and qualitative approaches. Data were collected from 100 respondents through structured questionnaires, semi-structured interviews, and policy document analysis. Quantitative data were analyzed using descriptive statistics, correlation, and regression techniques, while qualitative insights were interpreted thematically. The findings revealed a strong positive correlation between inclusive HR practices and employee well-being, indicating that fairness, diversity awareness, and participatory management enhance job satisfaction and organizational trust. Legal compliance and inclusivity jointly explained 64% of the variance in well-being, emphasizing that socio-legal alignment significantly improves workplace culture. The study concludes that integrating inclusivity into HR policies not only ensures compliance but also strengthens ethical governance and employee morale. It recommends continuous legal literacy programs, inclusivity audits, and leadership training to foster equitable, resilient, and sustainable organizations.
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