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This article proposes a thorough exploration of the technological evolution within FinTech and its profound impact on various sectors of the financial industry and climate stakeholders. By adopting a comparative approach, the paper reveals how digital innovations have transformed traditional financial systems, focusing on three main areas: InsurTech, aimed at innovation in insurance; WealthTech, which deals with wealth and investment management through technology; and crowdfunding platforms, which democratize access to financing. The review begins with an overview of the FinTech landscape, tracing its evolution from its origins to the present day, highlighting the catalysts for its rapid growth and how these technologies have responded to the changing needs of consumers and businesses. Next, the article looks at each sector separately, detailing the specific innovations that have been implemented and their impact on the efficiency, accessibility and personalization of financial services. For example, in the field of InsurTech, it examines how big data analysis and artificial intelligence have enabled the creation of insurance policies that are more flexible and tailored to individual needs. In the WealthTech sector, the focus is on automated investment platforms and wealth management solutions that give users more control and lower fees. In terms of crowdfunding, the article explores how these platforms have paved the way for financing innovative and entrepreneurial projects, removing traditional middlemen from the financial equation. The review concludes with a discussion of future challenges and opportunities for the FinTech sector, including the need for balanced regulation that protects consumers without inhibiting innovation. The article provides valuable insight into the dynamics between technology and finance, highlighting the role of FinTech in shaping the economic future. [ABSTRACT FROM AUTHOR]

Conversational robots powered by artificial intelligence (AI) are intensively implemented in the insurance industry. This paper aims to determine the current level of acceptance among consumers regarding the use of conversational robots for interacting with insurers and seeks to identify the factors that influence individuals' behavioral intention to engage with chatbots. To explain behavioral intention, we tested a structural equation model based on the Unified Theory of Acceptance and Use of Technology (UTAUT) model. It was supposed that behavioral intention is influenced by performance expectancy, effort expectancy, social influence, and trust, and by the moderating effect of insurance literacy on performance expectancy and effort expectancy. The study reveals a significant overall rejection of robotic technology among respondents. The technology acceptance model tested demonstrates a strong ability to fit the data, explaining nearly 70% of the variance in behavioral intention. Social influence emerges as the most influential variable in explaining the intention to use conversational robots. Furthermore, effort expectancy and trust significantly impact behavioral intention in a positive manner. For chatbots to gain acceptance as a technology, it is crucial to enhance their usability, establish trust, and increase social acceptance among users. [ABSTRACT FROM AUTHOR]

Innovation is an important mechanism used by financial systems to adapt to external shocks and to increase resilience. The current wave of financial innovation can be regarded as unprecedented, due to its technology-induced nature and because it is mainly stimulated from outside the incumbent financial industry. We study "regulatory sandboxes ", set up by regulators with the intention to foster financial innovation. Hitherto, some national regulators remain hesitant in relation to introducing regulatory sandboxes, partly fearing a "two-tier" system of start-ups with a potentially disparate treatment of market participants. We argue that many non-participating countries, including some of the 23 EU Member States, should reconsider their decision towards regulatory sandboxes which allow for a constant dialogue between operators and supervisory authorities during the testing of financial innovations. [ABSTRACT FROM AUTHOR]

The Covid-19 crisis has accelerated the need for a digital transformation of insurance companies, which has shifted from being a strategic option to a necessity. Dynamic changes are transforming the insurance sector. Insurance market leaders who look boldly into the future have not resorted to observation alone and they take actions that allow them to be more customer-oriented, improve their offers, and increase operational efficiency. The aim of this article is to present the digitization processes taking place in the insurance sector in the face of the crisis caused by the Covid-19 pandemic and an attempt to answer the following research question: has digitization in the insurance sector taken the right direction and is a response to the needs of the insurance market participants (insurers, insured persons, intermediaries, etc.) as a consequence of the actual epidemic risk (Covid-19) and its consequences. In order to verify the research question and achieve the set goal, a critical analysis of the source literature, the analysis of trends and digital solutions in the insurance sector and the analysis of secondary data were performed. The study was based on data available in national and international reports, including data published by the Polish Insurance Association, OECD or the Geneva Association. The presented results of the considerations indicate that the use of new technologies and ubiquitous digitization have a great impact on customer expectations, which was particularly noticeable in the aftermath of the epidemic risk come true (Covid-19). The article highlights the changes introduced in the organization's processes (the importance of decision support systems in insurance activities), as well as supporting consumer users (the universality of social media, and the availability of speech and image recognition technology). [ABSTRACT FROM AUTHOR]

The digital revolution has been shaking up the financial sector for some time now. This is also happening in the insurance industry, which has remained unchanged for a long time. Insurtech is a phenomenon that uses new technologies to revolutionize the traditional insurance business, and it deserves to be explored in depth to understand its risks and potential. This study examines the academic literature on Insurtech through a bibliometric analysis and a systematic review, which allowed us to identify the main contributors to the topic, the main research clusters and future research directions. The results show a growing trend in scientific production on Insurtech and a strong focus on the implications of artificial intelligence and blockchain on the insurance sector. Furthermore, the analysis highlighted a strong collaboration between information technology and economics disciplines and the need for an interdisciplinary approach to understand the Insurtech phenomenon fully. [Display omitted] • Insurtech is not only Fintech for insurance: it's gaining its autonomy. • Insurtech uses new technologies to revolutionize the traditional insurance business. • We examined Insurtech using performance, network, and topic trend analyses. • A focus on artificial intelligence, blockchain and risk management issues emerges. • The need for a multidisciplinary approach to explore the topic is highlighted. [ABSTRACT FROM AUTHOR]

Since 2011, the booming development of InsurTech has embraced a huge impact on the financial and insurance industries. Former researches fail (1) to whole draw the character and contribution capacity of InsurTech identification, and then, (2) to study the impact of InsurTech on the insurance industry and its transmission patterns. Based on these, I addressed an empirical research on InsurTech with non-equilibrium panel data from China from 2011 to 2018 to conduct a quantitative study on the role and influence path of InsurTech on the insurance industry. The results show that (1)the InsurTech has a significant impact on the liability side, the asset side and the risk-taking behaviour, and (2) the impact of InsurTech development inside companies are not independent, which provides a solid factual basis for the development and supervision of the insurance industry. [ABSTRACT FROM AUTHOR]

Using the technology–organization–environment framework, this study examines the factors influencing the behavioral intention of insurance industry employees to adopt artificial intelligence (AI)-enabled applications. With two factors from the technology dimension and three factors each from the organization and environment dimensions, we collected data from 358 employees in the Indian insurance industry. We use structural equation modeling to test what variables significantly impact employees' behavioral intentions to adopt AI in the insurance industry. While all technological (relative advantage and complexity) and environmental (market dynamics, regulatory support, and competitive pressure) variables significantly predict behavioral intention, only top management support and financial readiness among the environmental variables indicate a significant association with the behavioral intention for AI adoption. Accordingly, technical competencies did not have a significant impact on behavioral intention. This study has important managerial implications for emerging economies. [Display omitted] • We use TOE framework to examine factors influencing AI adoption in insurance sector. • This study relies on employee data rather than customer data. • Top management support and financial readiness positively affect AI adoption. • Relative advantage and complexity are significant technological dimensions. • Regulatory support is the most significant predictor of behavioral intention. • Technological competence has no association with behavioral intention. [ABSTRACT FROM AUTHOR]

• Financial industry has evolved due to the disruptive innovation and technologies • This work studies the effect of the sustainability profile of Fintech companies • Methodology is based on dynamic (GMM-SYS) and static (PCSE) panel data models • Fintech firm value is driven by rankings or green certificates • Sustainability effort decreases as market capitalization increases - agency problem The digitisation process is affecting all markets and raising consumer awareness about companies' sustainable behaviour. This work studies the effect of the sustainability profile of FinTech companies on the firm (market value and book value) as the factors that add value to investors and motivate their evolution in markets are still unknown. Using the KBW and Nasdaq FinTech Indices, and the NASDAQ Insurance Index (IXIS), we composed a panel of 95 companies over a 10-year period (2010–2019) with economic-financial variables and data about green certificates and sustainability indices. The applied methodology is based on dynamic (GMM-SYS) and static (PCSE) panel data models. Our results show that the market value of FinTech companies is positively driven by an CSR report being issued, the position in the CSR RepTrak, company size and board size. In contrast, the number of green certificates, particularly their position in the Green Ranking, is negatively related to their market value. Surprisingly in the most transparent companies, the direction of the variables effect evidenced for the book value per share is the opposite to market capitalisation. [ABSTRACT FROM AUTHOR]

• Chinese InsurTech's media reports primarily focus on "insurance", "finance", and "science & technology". • Blockchain is the key technology for different years. • Data is getting more and more attention. • Evidence provided in this article has implications for global technological innovation in insurance. As a new trend, InsurTech is shaking up every link of the traditional insurance industry chain. Facilitated by many factors such as capital investment, new technology development and the high penetration rate of e-commerce, China has become an important market for the development of InsurTech. This paper uses text mining technology and Python to analyze the word frequency of 25,662 InsurTech-related news reports from 2015 to 2019 in China. It also applies the term frequency-inverse document frequency (TFIDF) indicator to test the trends and features of InsurTech's development in China. Both word frequency and TFIDF show that InsurTech's media reports primarily focus on "insurance", "finance", and "science and technology"; their rankings change annually. "Blockchain" is the key technology for different years. Data is getting more and more attention. The evidence provided in this article has implications for global technological innovation in insurance. To our best knowledge, this is the first large-scale Chinese media reports-based study to investigate the characteristics of the China InsurTech development. [ABSTRACT FROM AUTHOR]