Modeling Enablers of AI in Insurance Sector Using Total ISM

This research paper will investigate the key enablers within the insurance industry that enable the implementation of AI and technology-enabled insurance solutions. The use of artificial intelligence and emerging technologies is needed for making sustainable corporate decisions. On the grounds of dynamic capabilities theory, this study is based on the rapid adaptation of AI in insurance. It utilizes the ISM-MICMAC model to analyze data and incorporates interviews with experts to confirm the results. With 13 significant enablers the study evolves into a systematic model, reflecting their interrelationship. The management of an organization is found the most pivotal factor in adopting AI, and sustainability is the most impacted enabler, as highlighted by 14 experts. MICMAC analysis classified these enablers into four groups, which are in accordance with the ISM framework results. This study contributes to the limited research in this field by proposing an organized model of AI adoption determinants. It puts forward practical information for insurance experts and decision-makers to create successful strategies. With analyzed outset of these important enablers in the insurance industry, insurance providers can incorporate AI with greater efficiency, improve their operations and use the study as a blueprint for future research and strategy formulation in digitally transforming the insurance industry.