TECH07009 2022 Technology Trends in Insurance
In this module the learner will explore the impact of information technology on the insurance industry. The students will examine recent and current technology trends that have shaped and are shaping business in general and the insurance industry in particular. They will examine how technology is facilitating change throughout the insurance industry and will explore what the industry of the future might look like
Learning Outcomes
On completion of this module the learner will/should be able to;
Examine the evolving impact technology has had on society, organisations, individuals and business models to date.
Assess the strategic importance of emerging technologies to the insurance industry
Demonstrate an understanding of the technical infrastructure utilised by businesses in the insurance industry and of how technologies contribute to the competitiveness of these firms
Examine future trends in the Insurance Industry and analyse how many of these trends are informed by and facilitated by technology
Identify and discuss ethical, regulatory and sustainability issues that may arise as a result of technological developments and how technology may be used to address some issues facing the insurance industry
Teaching and Learning Strategies
The teaching and learning strategy is one which is founded on student-centred active learning. The module is designed to be delivered online to insurance industry apprentices, with two in-person workshops to cement learning. Students will be encouraged to discuss practical considerations of the theories encountered when in online tutorial sessions. Industry experts will be invited as guest lectures to offer further real world experiences. A range of Computer-Aided Learning (CALL) packages are available to support this module (e.g. Moodle, Adobe Connect, Panopto, Microsoft Teams). The learner will be supported in developing an understanding of the theory and key principles in this area and how these apply in the commercial environment.
Module Assessment Strategies
Continuous Assessment will make up 60% of the total assessment for this this modules. Learners will undertake an appraisal of technological aspects of their own place of work (30%) as well as working in groups to consider potential impacts of technology on their industry, organisation or roles (30%).
An final assessment (40%) will take place at the end of the semester
Formative Assessment will take the form of weekly in class discussions, breakout activities, and small group discussions.
Repeat Assessments
Repeat assessment/exam will be developed as appropriate to assess failed components.
Indicative Syllabus
Technological Impacts to Date
- Evolution and impacts of technology on business
- Growth of e-commerce, social media, mobile and other technologies
- An examination of the enabling technologies
- The power of data & information – sources and usage
- Issues with data - privacy and security
Current Digital & Computing Trends
- Big Data – how data can be leveraged
- Software platforms – SaaS, bespoke systems, interoperability
- Insurtech – how technology is being applied to the insurance industry
- Technology trends (ML, AI, VR, Blockchain, cyber security, etc…)
How technology may impact the insurance industry in the future
- The evolution of risk (new risks, how risk will be managed)
- Imagining the future of society and commerce
- How tech will shape the industry – new value chains & business models
- Predictions for the future of the insurance industry - towards Industry 5.0?
- Future skills needs in the insurance industry
Environmental, Social, Governance (ESG) & Other Considerations
- Regulatory and legal challenges presented by technological innovations
- Potential downsides of technology – importance of responsible technology
- Sustainability concerns in embracing technology
- Ethical use of technology / data
Coursework & Assessment Breakdown
Coursework Assessment
Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
---|---|---|---|---|---|---|
1 | Industry Project | Coursework Assessment | Written Report/Essay | 30 % | Week 6 | 2,3 |
2 | Report & Presentation | Coursework Assessment | Group Project | 30 % | Week 10 | 4,5 |
End of Semester / Year Assessment
Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
---|---|---|---|---|---|---|
1 | Final Assessment | Final Exam | Closed Book Exam | 40 % | End of Semester | 1,2,3,4,5 |
Full Time Mode Workload
Type | Location | Description | Hours | Frequency | Avg Workload |
---|---|---|---|---|---|
Lecture | Online | Online Lecture | 0.75 | Weekly | 0.75 |
Tutorial | Online | Tutorial | 0.5 | Weekly | 0.50 |
Workshop / Seminar | Offsite Facility | Face to face (Away Day) Activities | 1.5 | Twice Per Semester | 0.20 |
Independent Learning | Not Specified | Independent Learning | 2 | Weekly | 2.00 |
Required & Recommended Book List
2018-07-11 The INSURTECH Book John Wiley & Sons
ISBN 9781119362210 ISBN-13 1119362210
The definitive compendium for the Insurance Digital Revolution From slow beginnings in 2014, InsurTech has captured US$7billion in investment since 2010 a 10% annual compound growth rate is predicted until at least 2020. Three in four insurance companies believe some part of their business is at risk of disruption and understanding the trends, drivers and emerging technologies behind Insurances Digital Revolution is a business-critical priority for all growth-minded firms. The InsurTech Book offers essential updates, critical thinking and actionable insight globally from start-ups, incumbents, investors, tech companies, advisors and other partners in this evolving ecosystem, in one volume. For some, Insurance is either facing an existential threat; for others, it is a sector on the brink of transforming itself. Either way, business models, value chains, customer understanding and engagement, organisational structures and even what Insurance is for, is never going to be the same. Be informed, be part of it. Learn from diverse experiences, mindsets and applications of technologies Discover new ways of defining and grasping growth opportunities Get the inside track from innovators, disruptors and incumbents Be updated on the evolution of InsurTech, why it is happening and how it will evolve Explore visions of the future of Insurance to help shape yours The InsurTech Book is your indispensable guide to a sector in transformation.
2021-07-13 E-Commerce 2021-2022: Business. Technology. Society. , Global Edition Pearson
ISBN 1292409312 ISBN-13 9781292409313
Module Resources
- MIS Quarterly
- Harvard Business Review
- Journal of Strategic Information Systems,
- Journal of Information Technology,
Relevant links will be provided via Moodle as appropriate
Relevant journals, reports and other artefacts will be shared with learners on Moodle
Yeats Library - IT Sligo