Identifying and prioritizing factors affecting the adoption of blockchain technology in the insurance industry
Subject Areas :Mohammad Ebrahim Raei Ezabadi 1 , Mohsen Eftekhari 2
1 - Department of Financial Management and Accounting, South Tehran Branch, Islamic Azad University,Tehran, Iran
2 - Financial Management, South Tehran Branch, Islamic Azad University,Tehran, Iran
Keywords: Blockchain technology, insurance industry, DEMATEL, network analysis process,
Abstract :
The purpose of this research is to identify and prioritize the factors affecting the application of blockchain technology in the insurance industry. In this research, by first reviewing the literature and using the opinions of insurance industry managers and experts, the general factors affecting the application of blockchain technology in the insurance industry (30 factors) were identified, and then the factors with the highest frequency (6 factors) were selected to enter the model. Next, using the DEMATEL method, the internal relationships between the above factors were determined and the structure of the relationships between them was drawn. Finally, using the Analytic Network Process (ANP) method, the priority of each of the considered factors was determined. The results of the research indicate that the two indicators "general public familiarity with IT knowledge" and "development of technology infrastructure" are the most effective indicators, and the indicator "use of artificial intelligence" is the most effective indicator in the set of factors. Also, the "development of technology infrastructure" indicator has the highest interaction in the set of factors and can be of great importance in this regard. Prioritizing factors using the ANP method also shows that the factor "Development of technological infrastructure" with a weight of 0.312 has the first priority, the factor "Familiarity of senior managers with the blockchain industry" with a weight of 0.234 has the second priority, and the factor "Utilization of artificial intelligence" with a weight of 0.191 has the third priority, and they can be effective in the development of blockchain technology in the insurance industry.
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