A double design-science perspective of entrepreneurship – the example of smart contracts in the insurance market

Christian Hugo Hoffmann

doi:10.1108/jwam-08-2020-0037

Abstract

PurposeFollowing the call for strengthening the third pillar of knowledge in entrepreneurship as well as work-applied management contexts constituted by pragmatic design principles, we present a case study on an insurtech for insurance firms specialized in smart contract insurance solutions such as flight delay or ski resort insurance.Design/methodology/approachDesign science.FindingsThis not only serves as a pointer for how insurances may master their digital transformation while remaining competitive. But moreover, on the meta level, we find that the adoption of entrepreneurial design principles by the students, whose experiential project represents our case study, does not necessarily require continuous support or foundational knowledge to be delivered beforehand. However, for a deeper or more holistic assessment of the case sketched in their project, it makes sense to introduce them to newer developments such as the simple, practical framework of the Entrepreneur's Question Index.Originality/valueInnovative teaching method on innovative topics.

Highlights

A field that has since long blurred the boundaries between work-based and academic learning is entrepreneurship
We present one outstanding student project as a case study in the realm of employing Ethereum-based smart contracts for insurance companies (Section 2)
In the spring term 2020, we offered a course on the impact of blockchain on the business practice to master’s students in business, economics and computer science on behalf of an innovation lab hosted at a large university, a crossdisciplinary research program on the global phenomenon of innovation in the financial industry induced by fintech

Summary

Introduction

A field that has since long blurred the boundaries between work-based and academic learning is entrepreneurship. We present one outstanding student project as a case study in the realm of employing Ethereum-based smart contracts for insurance companies (Section 2). Smart contracts can be implemented on the Ethereum blockchain and offer new possibilities to create innovative products for customers (Cohn et al, 2017).

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Results

Conclusion