Insurance, digitization and sustainable development: the road ahead

Purpose The purpose of this paper is to investigate an individual’s technological readiness to/adoption of online insurance services in India − one of the dominant economies in South Asia and how it contributes towards practices that help in moving towards a sustainable future. Design/methodology/approach Qualitative research was conducted by adopting phenomenological approach and using grounded theory approach for analysis. An exploratory study wherein data was collected about online insurance services using in-depth, semi-structured interviews from 19 individuals/consumers and 10 agents/employees of life insurance companies in the Delhi-NCR area of India. Findings This study found that there are some incentives of and barriers to using online insurance services as perceived by the respondents that have a bearing on their level of readiness towards technology. Based on the incentives of and barriers to using online insurance services, the study further suggests a conceptual model of individual’s/consumer’s perception of online insurance services and sustainable practices in the backdrop of their technological readiness and barriers to digital adoption. Research limitations/implications This study provides profound understanding of individual’s/ consumer’s perception of online insurance services and also outlines the areas where the insurance companies are required to play catch-up for an emerging South Asian Economy like India. Originality/value The rich narrative puts forth an elaborate spread of thoughts, views and perception of individuals regarding online insurance services and expands its purview by comprehending individual/ consumer’s inclination towards digitization of insurance services. It holds scope for further empirical testing and provides spill-overs of India-specific findings for the benefit of the South Asian region.