Digital Transformation of the Insurance Market: Challenges and Opportunities for Sustainable Development

Under current conditions, the implementation of automation and artificial intelligence in insurance services marks a significant change in the way customers access the services of this industry. This transformation is driven by the need to increase operational efficiency, improve service accuracy, and enhance the value offered to customers. The main objective of this research is to analyse how digital transformation influences competition and market development in the insurance sector. The study uses a qualitative approach, examining the most relevant technological and innovative factors – such as the automation of claims processing, underwriting, and risk assessment, as well as the implementation of omni-channel digital platforms. The research results indicate that digitalisation contributes to faster service delivery, increased customer satisfaction, and improved operational sustainability. In conclusion, a balanced approach between innovation and risk management is essential to ensuring long-term competitiveness in the insurance sector.