EXPLORING KEY DRIVERS OF INSURTECH ADOPTION: INSIGHTS FROM INDIA'S DIGITAL INSURANCE REVOLUTION

The insurance industry is undergoing a significant digital transformation, referred to as "InsurTech, " which integrates advanced technologies to automate processes and improve customer service. This study analysed the factors, driving the adoption ofInsurTech services in India, a fast-growing insurance market. The research adopted the TechnologyAcceptance Model (TAM), by incorporating additional constructs such as awareness, trust, service quality, and promotional offers. Data were collected from 310 InsurTech users and analysed the data, by using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results revealed that perceived ease of use, perceived usefulness, awareness, trust, service quality, and promotional offers positively influenced InsurTech adoption. The findings provide insights for insurers and policymakers, to develop strategies that promote the wider use of InsurTech services, especially in underinsured segments. The study highlights the need for intuitive platforms, increased consumer awareness and strong trust-building measures, to facilitate InsurTech adoption in India.