The Implications of Digitalization for the Insurance and Reinsurance Services Market in Romania

The paper examines the impact of digitalization on the insurance and reinsurance services market in Romania, against the backdrop of current economic and technological developments. It evaluates the structure of the Romanian insurance market, its role within the tertiary sector, and the profound transformations generated by emerging digital technologies such as artificial intelligence, robotic process automation (RPA), blockchain solutions, and digital distribution platforms. The study highlights the advantages brought by technological modernization, including increased operational efficiency, improved customer interaction, and enhanced risk assessment capabilities. At the same time, it addresses several critical challenges associated with this transition, particularly those related to cybersecurity vulnerabilities, regulatory adaptation, and the risk of digital exclusion for certain categories of consumers. The conclusions emphasize the need for an integrated and coordinated approach that brings together insurance companies, regulatory authorities, and consumers.