 Digital Transformation in Insurance: The Contract-as-product Approach to Overcoming Information OverloadMargarida Lima Rego Chapter 3 in A Research Agenda for Contract Law, 2026, pp 51-76 from Edward Elgar Publishing Abstract: This chapter discusses how digital transformation is pushing the traditional model of contract formation into obsolescence. It argues that, largely because of digital transformation and the inherent information overload, formal adherence to that model has numbed parties into making mechanical their declarations of agreement to terms. This raises questions about whether such agreements are contractual in nature. The chapter considers product oversight and governance requirements in EU law. It submits that the adoption of a contract-as-product approach is better equipped to protect insurance customers than transparency requirements based on the proliferation of information duties. The contract-as-product approach also opens the door to the questioning of the contractual nature of standard terms, entailing some measure of recognition that they are often closer to a supplier's instruction manuals than to the product of a meeting of the contract parties’ minds. Keywords: Contract Formation; Insurance Contracts; Standard Terms; Information Duties; Information Overload; Contract-as-product Approach; Product Oversight and Governance Requirements (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:23748_3 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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