BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS
In this study, the key areas and current trends in the field of big data applications in the insurance industry are identified, along with suggestions for future research initiatives. We identified the most prominent authors, journals, organizations, and countries based on their total publications a...
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| Format: | Article |
| Language: | English |
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World Scientific Publishing
2023-06-01
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| Series: | Journal of Financial Management, Markets and Institutions |
| Subjects: | |
| Online Access: | https://www.worldscientific.com/doi/10.1142/S2282717X23300015 |
| _version_ | 1797742405474058240 |
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| author | SUNITA MALL TUSHAR RANJAN PANIGRAHI SUSHMA VERMA |
| author_facet | SUNITA MALL TUSHAR RANJAN PANIGRAHI SUSHMA VERMA |
| author_sort | SUNITA MALL |
| collection | DOAJ |
| description | In this study, the key areas and current trends in the field of big data applications in the insurance industry are identified, along with suggestions for future research initiatives. We identified the most prominent authors, journals, organizations, and countries based on their total publications and citations, showing their significance within the network, using bibliometric analysis on a sample of 191 articles retrieved from Scopus from 1976 to 2021. VOSviewer and R-Biblioshiny tools were used to generate the bibliometric output on these retrieved papers. The findings showed that although while a good number of writers from other parts of the world contributed to the literature on big data applications in the insurance industry, during this time, most research papers have listed the United States, India, and China as their affiliated countries. The yearly publication was either one or two, with some discontinuity, from 1976 to 2011, but since 2012, it has increased, exhibiting an exponential growth tendency. The three journals “Risks,” “Applied Stochastic Models in Business and Industry,” and “Expert Systems with Applications” are the most popular for including a sizable number of papers in the field of big data technologies in the insurance sector. Each of the top 10 authors in this field published two research papers during these 46 years. Seven areas, including fraud detection and prevention, risk assessment, pricing & rate making, technology utilization, risk management, claim processing & prediction, and finally digitalization, were the major focus of research papers on bigdata applications in the insurance business. The human-centered AI system development, adoption of wearable technology, personalization, and other topics were found to have received very little attention in this study. As a result, the researchers may now direct future research in this area. This study is completely new of its kind in the domain of insurance though few documents are available on the broad concept of finance. |
| first_indexed | 2024-03-12T14:40:24Z |
| format | Article |
| id | doaj.art-bce2f4d2e37e4ed9bc46a8492be833ec |
| institution | Directory Open Access Journal |
| issn | 2282-717X |
| language | English |
| last_indexed | 2024-03-12T14:40:24Z |
| publishDate | 2023-06-01 |
| publisher | World Scientific Publishing |
| record_format | Article |
| series | Journal of Financial Management, Markets and Institutions |
| spelling | doaj.art-bce2f4d2e37e4ed9bc46a8492be833ec2023-08-16T10:47:44ZengWorld Scientific PublishingJournal of Financial Management, Markets and Institutions2282-717X2023-06-01110110.1142/S2282717X23300015BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONSSUNITA MALL0TUSHAR RANJAN PANIGRAHI1SUSHMA VERMA2Department of Statistics & Data Analytics, MICA, Ahmedabad, Gujarat, IndiaDepartment of Finance, Unitedworld School of Business, Karnavati University, Ahmedabad, Gujarat, IndiaDepartment of Finance, Vivekanand Education Society’s Institute of Management Studies and Research, Mumbai, IndiaIn this study, the key areas and current trends in the field of big data applications in the insurance industry are identified, along with suggestions for future research initiatives. We identified the most prominent authors, journals, organizations, and countries based on their total publications and citations, showing their significance within the network, using bibliometric analysis on a sample of 191 articles retrieved from Scopus from 1976 to 2021. VOSviewer and R-Biblioshiny tools were used to generate the bibliometric output on these retrieved papers. The findings showed that although while a good number of writers from other parts of the world contributed to the literature on big data applications in the insurance industry, during this time, most research papers have listed the United States, India, and China as their affiliated countries. The yearly publication was either one or two, with some discontinuity, from 1976 to 2011, but since 2012, it has increased, exhibiting an exponential growth tendency. The three journals “Risks,” “Applied Stochastic Models in Business and Industry,” and “Expert Systems with Applications” are the most popular for including a sizable number of papers in the field of big data technologies in the insurance sector. Each of the top 10 authors in this field published two research papers during these 46 years. Seven areas, including fraud detection and prevention, risk assessment, pricing & rate making, technology utilization, risk management, claim processing & prediction, and finally digitalization, were the major focus of research papers on bigdata applications in the insurance business. The human-centered AI system development, adoption of wearable technology, personalization, and other topics were found to have received very little attention in this study. As a result, the researchers may now direct future research in this area. This study is completely new of its kind in the domain of insurance though few documents are available on the broad concept of finance.https://www.worldscientific.com/doi/10.1142/S2282717X23300015Bigdatainsurance sectorbibliometric analysiscitation networkbibliometric coupling |
| spellingShingle | SUNITA MALL TUSHAR RANJAN PANIGRAHI SUSHMA VERMA BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS Journal of Financial Management, Markets and Institutions Bigdata insurance sector bibliometric analysis citation network bibliometric coupling |
| title | BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS |
| title_full | BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS |
| title_fullStr | BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS |
| title_full_unstemmed | BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS |
| title_short | BIBLIOMETRIC ANALYSIS ON BIG DATA APPLICATIONS IN INSURANCE SECTOR: PAST, PRESENT, AND FUTURE RESEARCH DIRECTIONS |
| title_sort | bibliometric analysis on big data applications in insurance sector past present and future research directions |
| topic | Bigdata insurance sector bibliometric analysis citation network bibliometric coupling |
| url | https://www.worldscientific.com/doi/10.1142/S2282717X23300015 |
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