Research of the Digital Transformation in Bulgarian Insurance Companies

Tonina Yaneva ()
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Tonina Yaneva: University of Economics - Varna, Varna, Bulgaria

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, 2022, vol. 11, issue 2, 205-214

Abstract: Insurance companies are making increasingly large-scale investments for implementing digital technologies. This gives rise to the need for systematized criteria and indicators for evaluating digitalization and its effect. In this study, an adapted evaluation framework for positioning insurance companies, according to the reached level of digital development is presented. Indicators, showing the cost of digital investments and the result of the insurance activity, from the consolidated financial statements are proposed. The development trend of the selected indicators - software value, gross written premium and acquisition costs, in the top 5 digitally advanced Bulgarian insurance companies are investigated for the period 2012 - 2021. The results of the research show that each of the analyzed insurers is characterized by specific development dynamics of the studied indicators. This can be used as a basis for future research.

Keywords: digitalization; evaluation framework; insurance; software; premium; acquisition costs (search for similar items in EconPapers)
JEL-codes: G22 O33 (search for similar items in EconPapers)
Date: 2022
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