Employing Bibliometric Analysis to Identify Emerging Technologies in the Insurance Industry

DEA is a frequently used non-parametric methodology for measuring the relative efficiency of Decision-Making Units (DMUs) that use the same inputs to produce the same outputs. Emrouznejad and Yang (2018) provided a literature survey on DEA with 10,300 peer-reviewed journal articles from 1978 to the end of 2016. Our article focuses on DEA applications in the insurance industry in convergence with the existing relevant literature as Kaffash et al (2020), who have surveyed 132 DEA articles in the insurance industry for the period from 1993 to 2018. We include particular keyword analyses necessary to identify research hotspots in different periods. This article aims to conduct a bibliometric analysis of DEA-published documents (articles in journals and book chapters) in the insurance industry from 1993 to 2021, focusing on identifying research hotspots based on keyword co-occurrence analysis. We have analyzed published documents from relevant databases, such as Scopus, Web of Science, Ebsco and ProQuest. We use descriptive analytics and text mining as the main methods in our analysis. We provide descriptive statistics for articles per year and category of the insurance industry, geographical distribution, top five journals and authors by citations, and citation analysis. An additional qualitative factor of our article is in-depth keyword co-occurrence analysis by using text mining to identify research hotspots in the insurance industry. Our analysis aims to contribute to researchers and insurance practitioners as an empirical and applicative point for initiating and developing research.

This study describes the conceptual structure of customer loyalty in insurance through a bibliometric analysis and identifies the emerging industry and research trends. A total of 98 scientific documents published about customer loyalty in insurance are examined using two bibliometric software programs, VOSviewer and SciMAT, that allow the spatial representation of the research concept. Both descriptive and network analysis are produced in this research. The paper highlights the importance of customer loyalty to successfully compete in the insurance industry and identifies good practices that insurance companies should adopt. The analysis of research trends highlights the importance of statistical models and algorithms to anticipate customer decisions. This is the first comprehensive article offering a bibliometric analysis to research the main trends on customer loyalty in insurance.

This bibliometric analysis makes a deliberate attempt to convey quantitative and qualitative knowledge on loyalty with regard to the insurance industry. The study includes an examination of 132 articles that were published between 2002 and 2022. he research articles were subjected to bibliometric analysis using the Scopus database. Research articles related to ‘loyalty in the insurance sector research’ were examined using the VOS viewer software. he findings of the research showed that customer loyalty has become an increasingly prominent subject in the context of insurance over time. The study has made use of co-occurrence analysis, bibliographic coupling and publication trends. The top journals, authors, nations, articles and organizations have been identified using bibliometric analysis. This article also includes a presentation of the content analysis of selected articles. iverse studies have been conducted on customer loyalty in various sectors like banking, e-commerce, hospitality and tourism, insurance etc.; however, the goal of the present study is to map the literature on ‘loyalty in the insurance sector’ in Scopus database. This will help to define the main idea and provide the researchers with future research directions. This work will also assist academicians, policy-makers and regulators in understanding the fundamentals of loyalty in the insurance industry and pinpointing the pertinent areas that require further research.

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.

The applications of big data in the insurance industry: A bibliometric and systematic review of relevant literature

Banks, financial service providers and insurance firms are considered the lifeblood of modern civilization, acting as a stimulus for the growth and development of a country with a growing economy like India. A systematic review and bibliometric analysis were conducted to explore the potential impact of blockchain technology on the banking, financial services and insurance (BFSI) industries in developing countries like India. The study found 148 articles and 33 papers assessing the benefits of blockchain technology based on institutional, market and technological factors. Acting managers, decision-makers and experts place a premium on having a solid foundational view before deciding whether to implement blockchain technology in their banking system, and our study will unquestionably be useful to those individuals. Furthermore, institutional, market and technical factors can be used to analyse the benefits of implementing blockchain in the BFSI sectors. To better understand the applications, prospects and difficulties of using blockchain technology in the BFSI sectors, we will attempt to cover the theoretical background based on earlier research in the study.

This study aims to identify the current trends in the literature on marine insurance by applying a bibliometric review of documents published in the Scopus database. This analysis was based on the most cited papers, most influential authors, countries, and organizations, as well as the most frequent keywords. In addition, qualitative content analysis was conducted. It reviewed 293 documents on marine insurance. Bibliometric analysis was performed using VOSviewer, and qualitative content analysis was performed using WordStat. The results identify three major clusters: (1) risk assessment, (2) marine insurance, and (3) the insurance industry. This paper also presents recommendations for future research in this field. The findings of this study have implications for marine insurance, such as new developments to be implemented in the insurance industry to enhance its efficiency. This study is the first to review marine insurance publications that can be largely used for insurance practices. This study provides an overview of how the literature on marine insurance research has developed, as well as a summary of the most influential authors, along with countries, organizations, and journal sources. This offers an opportunity for future research to focus on this topic.

The insurance industry is in a transformative period driven by digitalization and artificial intelligence (AI). This study explores how AI technologies are integrated into the insurance sector, restructuring traditional processes such as underwriting, claims management, and customer service. Through bibliometric analysis, this research investigates trends, influential publications, and prominent authors, emphasizing the evolution of digital applications in the insurance sector. Key findings highlight the impact of AI on operational efficiency, risk assessment, and customer experience, as well as the increasing need for regulatory frameworks to manage data security and ethical concerns in AI-driven insurance processes.

Blockchain technology has surfaced as a formidable catalyst, capable of reshaping the operational dynamics of conventional businesses. The integration of blockchain technology within the insurance industry has prompted a need for comprehensive understanding and assessment. This study aims to elucidate the relevance of blockchain in the insurance sector, identify key trends, influential research, and the overarching goals motivating the incorporation of blockchain in insurance practices. The study employed a systematic review to collect 125 research articles published between 2017 and 2023 focused on blockchain in insurance from the Web of Science database. This study used Biblioshiny. The analysis encompasses a wide range of parameters, including publication trends, influential authors, thematic clusters, and the geographic distribution of research. IEEE Access emerges as a prominent platform, hosting 11 articles dedicated to this topic. The results of keyword co-occurrence highlighted two keywords: blockchain and insurance. The results of the country collaboration map highlighted particular shortcomings, such as the concentration of research in countries like China, the USA, India, KSA, Malaysia, and Australia. A lack of research in developing and underdeveloped countries and insufficient knowledge sharing among researchers highlights a research gap. In conclusion, the analysis offers valuable insights into the evolving landscape of blockchain within the insurance industry.

This bibliometric study on insurtech explores the transformative impact of technological innovations such as AI, machine learning, big data, IoT, and blockchain on the insurance industry. Utilizing Scopus for bibliographic data and adhering to the PRISMA flow chart for the meticulous screening, inclusion, and exclusion of studies, the research employs advanced bibliometric tools including biblioshiny, VOSviewer, and CiteSpace to conduct a comprehensive analysis. The findings reveal an upward trend in annual scientific production, highlighting the field's dynamic evolution and growing interest. The study identifies the most productive authors and analyzes coauthorship patterns to understand collaboration networks. Through cocitation analysis, influential authors and seminal works are identified, offering insights into the academic lineage and intellectual foundations of insurtech research. Network visualizations of citations, both of references and journals, alongside the co-occurrence of keywords, map out the thematic and disciplinary landscapes, pinpointing the most relevant sources and globally cited documents. The overlay network visualization of document citations further elucidates the thematic concentrations and evolutionary trajectories within the field. Additionally, this research identified key research gaps and outlined practical implications, pointing to areas that can be ripe for further exploration and innovation and can be helpful in practice. In the same way, the scientific production and collaboration country mappings draw a map of the global distribution and network of insurtech research and bring out more of its international scope and interdisciplinary nature. This bibliometric analysis does not just describe the current state of insurtech research but provides a strategic framework of how one may be able to orient themselves around future developments in this fast-evolving field.

The radical shift observed in industries from physical to digital platforms has escalated the implications of data depositories. The extent to which data is growing is exponential. The insurance industry is no exception. The availability of data on various digital platforms has contributed to an enormous amount of repositories in a short span of time. The present study is focused on performance analysis of the research constituents that contributed to the domain of insurance industry and Big Data. An analysis of 541 research publications from 2012 to 2023 retrieved from the WoS database from more than 2000 authors is performed using the bibliophily app, highlighting trends and contributions by authors, Universities, and countries. The findings showed that big data has improved the process of database management and profiling in the insurance sector, further easing the claim process. This study will assist researchers and practitioners in understanding the past and present research trends in the area.

Redefining insurance through technology: Achievements and perspectives in Insurtech

The private capital asset class has grown to over $10 trillion in assets under management and has significant potential to contribute to environmental, social, and governance (ESG) goals. However, there is a dearth of academic research about ESG with regards to private capital investing. This literature review adopted a mixed-methods approach, combining a quantitative (bibliometric) analysis with a qualitative review of the articles. It was found that less than 1% of the literature, written in English, between 1960-2020 on private equity and venture capital addresses topics related to sustainability. It was also observed that the 46 papers which address sustainability topics can be categorized into 13 themes, including certifications and standards, impact investing, and corporate social responsibility. Investment in private securities grew at twice the rate as public securities during the end of this time-period and interest in sustainability integration in private capital investing is growing. Incentives for private equity and venture firms to engage with sustainable investments are being driven by institutional investors, such as pension funds and insurance companies. The focus of sustainability research has typically been on public markets, hindering the potential of private capital investment to influence sustainable policy and practices. The objective of this paper is to provide evidence of the dearth of academic literature on the topic of private capital markets and sustainable investment, while identifying current themes in the existing literature so that future work may address gaps in research.

The global impact of the Covid-19 pandemic has presented unprecedented challenges, notably affecting the insurance industry. This research employs bibliometric and thematic analysis to scrutinize how the Indian insurance sector is adapting to the post-pandemic landscape, focusing on key factors promoting organizational resilience. This method involves a comprehensive review of research papers, articles, and reviews, identifying themes and sentiments that encapsulate adaptive strategies. Findings underscore leadership's critical role in guiding companies through turbulent times, fostering a culture of change. This research contributes to understanding the Indian insurance industry's responses to COVID-19, highlighting factors for post-pandemic effectiveness. It emphasizes visionary leadership, collaboration, and HRD practices in navigating the new normal and seizing opportunities amid challenges.

This study aimed to examining innovations in Sharia-compliant insurance products and business models, specifically crowd takaful, sharing tabarru, and peer-to-peer insurance. The methodology applied follows the PRISMA framework, involving a comprehensive search in the Scopus database, strict selection criteria, and thematic qualitative and quantitative analysis to ensure reliability and relevance of the reviewed literature. Key findings reveal that crowd takaful and peer-to-peer insurance models significantly enhance financial inclusion and uphold ethical insurance principles aligned with Sharia values, with fintech technologies driving operational efficiency and transparency. The discussion highlights how integrating Islamic values into technological innovations deepens understanding and adaptation of these insurance models while identifying regulatory and moral hazard challenges that hinder broader development. The conclusion emphasizes this study’s contribution in linking Islamic economic theory with financial technology advances and its practical implications for regulatory innovation and financial literacy promotion. Future research is recommended to focus on cross-cultural comparative studies, development of hybrid theoretical frameworks combining Islamic economics with innovation diffusion and behavioral finance, and advanced bibliometric analyses to map academic progress and policy collaboration. This study aims to boost academic visibility with SEO-friendly keywords relevant to Sharia insurance and modern financial technology.