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Digital Transformation in Insurance Sales: An Empirical Analysis of the Effects of COVID-19
Eckert, Christian | Eckert, Johanna | Zitzmann, Armin
Zeitschrift für die gesamte Versicherungswissenschaft, Vol. 112 (2023), Iss. 2 : pp. 145–165
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Christian Eckert, Hochschule Coburg, Friedrich-Streib-Str. 2, 96450 Coburg, Germany.
Johanna Eckert, NÜRNBERGER Versicherung, Ostendstr. 100, 90482 Nürnberg, Germany.
Armin Zitzmann, NÜRNBERGER Versicherung, Ostendstr. 100, 90482 Nürnberg, Germany.
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Abstract
In this paper, we investigate the effects of COVID-19 on the digital transformation of insurance sales. We explicitly focus on the traditional ways of selling insurance products and aim to analyze whether COVID-19 has changed the use of digital technologies in this regard and the values of these digital technologies perceived by insurance intermediaries. For this purpose, we conducted a survey in July 2022, in which 530 exclusive agents from various insurance companies, independent agents and independent brokers from Germany participated. We compare the results of the current survey with a similar survey that we conducted in July 2020, i.e., at the beginning of the COVID-19 pandemic. Our results show that video chats with extended functions are now more widespread and valued more highly. Differences relating to the usage and perceptions of digital applications between various distribution channels still exist, however, the differences between generations are becoming less apparent.