Index construction and application of digital transformation in the insurance industry: Evidence from China.
In the context of digitization, the insurance industry's value chain is undergoing significant shifts. However, the existing research on its comprehension and measurement remains relatively limited. This study constructs an index system for digital transformation in the insurance industry (DTII...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2024-01-01
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| Series: | PLoS ONE |
| Online Access: | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0296899&type=printable |
| _version_ | 1827376805665832960 |
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| author | Mengqi Liu Han Yang Shuxin Zheng |
| author_facet | Mengqi Liu Han Yang Shuxin Zheng |
| author_sort | Mengqi Liu |
| collection | DOAJ |
| description | In the context of digitization, the insurance industry's value chain is undergoing significant shifts. However, the existing research on its comprehension and measurement remains relatively limited. This study constructs an index system for digital transformation in the insurance industry (DTII) on three components: digital infrastructure, digital platform, and digital applications. Utilizing data from 31 provinces in China, this study employs the entropy weight method, analytic hierarchy process method and minimum relative entropy method to measure the weights of indicators, empirically applying this index system. The results show that DTII in China experiences rapid advancement with an average annual growth rate of 20.46% from 2014 to 2020 and there exists strong regional convergence. In addition, the spatial agglomeration and spatial effects of DTII are mainly concentrated in the life insurance industry and the eastern region. This study provides an index system and empirical evidence for evaluating the DTII, providing policy insights for exploring the sustainable development path of the insurance industry in the digital era. |
| first_indexed | 2024-03-08T12:29:07Z |
| format | Article |
| id | doaj.art-3bd208bd9a284455bc79fccd131d8d38 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-03-08T12:29:07Z |
| publishDate | 2024-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-3bd208bd9a284455bc79fccd131d8d382024-01-22T05:31:28ZengPublic Library of Science (PLoS)PLoS ONE1932-62032024-01-01191e029689910.1371/journal.pone.0296899Index construction and application of digital transformation in the insurance industry: Evidence from China.Mengqi LiuHan YangShuxin ZhengIn the context of digitization, the insurance industry's value chain is undergoing significant shifts. However, the existing research on its comprehension and measurement remains relatively limited. This study constructs an index system for digital transformation in the insurance industry (DTII) on three components: digital infrastructure, digital platform, and digital applications. Utilizing data from 31 provinces in China, this study employs the entropy weight method, analytic hierarchy process method and minimum relative entropy method to measure the weights of indicators, empirically applying this index system. The results show that DTII in China experiences rapid advancement with an average annual growth rate of 20.46% from 2014 to 2020 and there exists strong regional convergence. In addition, the spatial agglomeration and spatial effects of DTII are mainly concentrated in the life insurance industry and the eastern region. This study provides an index system and empirical evidence for evaluating the DTII, providing policy insights for exploring the sustainable development path of the insurance industry in the digital era.https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0296899&type=printable |
| spellingShingle | Mengqi Liu Han Yang Shuxin Zheng Index construction and application of digital transformation in the insurance industry: Evidence from China. PLoS ONE |
| title | Index construction and application of digital transformation in the insurance industry: Evidence from China. |
| title_full | Index construction and application of digital transformation in the insurance industry: Evidence from China. |
| title_fullStr | Index construction and application of digital transformation in the insurance industry: Evidence from China. |
| title_full_unstemmed | Index construction and application of digital transformation in the insurance industry: Evidence from China. |
| title_short | Index construction and application of digital transformation in the insurance industry: Evidence from China. |
| title_sort | index construction and application of digital transformation in the insurance industry evidence from china |
| url | https://journals.plos.org/plosone/article/file?id=10.1371/journal.pone.0296899&type=printable |
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