Transforming life insurance buying: conceptual model for the adoption of Life InsurTech services in India

Purpose This study aims to construct a theoretical framework that combines the Technology Acceptance Model (TAM) and other variables related to life insurance adoption among customers. This will explain the factors that influence customers’ decisions to use Life InsurTech services in the future. Design/methodology/approach A hybrid method combining theory-driven analysis and thematic analysis was used for content analysis, allowing for a holistic perspective, and developing a conceptual research model. Findings The paper contributes significantly by creating a conceptual framework designed to understand and explain the factors that impact customers’ intentions to adopt Life InsurTech services. By emphasizing technology-related factors, behavior-related factors, knowledge-related factors and individual-related factors, one could potentially identify and explain the factors influencing the intention to use Life InsurTech services. Research limitations/implications The limitation of the current research is the lack of prior research on InsurTech services. This study contributes to reviewing and organizing earlier knowledge to help researchers address the key factors affecting Life InsurTech services adoption. Practical implications The study has suggested a conceptual framework that Life InsurTech managers can use to implement the effective adoption of Life InsurTech services. Social implications With the significant importance of life insurance for consumers as well as for the country’s economic development and the advent of InsurTech innovations, there is a need to understand the online life insurance purchase behavior of consumers. Originality/value The outcomes presented in this study will lay the groundwork for future investigations that aim to address the research question regarding the factors influencing customers’ intentions to utilize Life InsurTech services. With very few studies conducted on InsurTech services, this novel study proposes a new conceptual framework to better understand the adoption of Life InsurTech services.