InsurTech development: Evidence from Chinese media reports

Siqing Cao, Hanjia Lyu and Xian Xu

Technological Forecasting and Social Change, 2020, vol. 161, issue C

Abstract: As a new trend, InsurTech is shaking up every link of the traditional insurance industry chain. Facilitated by many factors such as capital investment, new technology development and the high penetration rate of e-commerce, China has become an important market for the development of InsurTech. This paper uses text mining technology and Python to analyze the word frequency of 25,662 InsurTech-related news reports from 2015 to 2019 in China. It also applies the term frequency-inverse document frequency (TFIDF) indicator to test the trends and features of InsurTech's development in China. Both word frequency and TFIDF show that InsurTech's media reports primarily focus on “insurance”, “finance”, and “science and technology”; their rankings change annually. “Blockchain” is the key technology for different years. Data is getting more and more attention. The evidence provided in this article has implications for global technological innovation in insurance. To our best knowledge, this is the first large-scale Chinese media reports-based study to investigate the characteristics of the China InsurTech development.

Keywords: Innovation; Insurance; InsurTech; Insurance technology (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0040162520311033
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:161:y:2020:i:c:s0040162520311033

DOI: 10.1016/j.techfore.2020.120277

Access Statistics for this article

Technological Forecasting and Social Change is currently edited by Fred Phillips

More articles in Technological Forecasting and Social Change from Elsevier
Bibliographic data for series maintained by Catherine Liu ().