Please use this identifier to cite or link to this item: https://cris.library.msu.ac.zw//handle/11408/5677
Title: Challenges in the Adoption of Artificial Intelligence and Machine Learning in Zimbabwe’s Insurance industry; 1st Zimbabwe Conference of Information and Communication Technologies (ZCICT) held in Harare, Zimbabwe on the 09 -10 November 2022
Authors: Judith Moyo
Noreen Watyoka
Felix Chari
Entrepreneurship and Innovation Midlands State University, Gweru, Zimbabwe
Risk Management and Insurance Midlands State University, Gweru, Zimbabwe
Department of Economics, Bindura University of Science Education, Bindura, Zimbabwe
Keywords: Artificial intelligence
Machine Learning
Motor Insurance
Covid-19
Issue Date: 23-Feb-2023
Publisher: IEEE
Abstract: This study sought to investigate the challenges in the adoption of AI and ML in the Zimbabwean insurance industry. The TechnologyOrganisation-Environment (TOE) model was selected as the base theory underpinning the study. The study adopted a pragmatic research philosophy and a census was carried out on twenty insurance companies. Questionnaires were administered on operations managers representing their insurance companies. Interviews were used to collect data from 12 operation managers. NVivo version 16 was used to analyse the data thematically. The study results show that adoption of AI by the insurance sector in Zimbabwe is hindered by shortage of resources, lack of expertise and high cost of AI compliant products. These researchers recommend resource allocation, training of employees, culture change, and updated technological environment to ensure effective adoption of AI. This study will contribute to the body of knowledge, be significant to insurance practitioners and policy makers whilst giving direction for future studies.
URI: https://cris.library.msu.ac.zw//handle/11408/5677
Appears in Collections:Conference Papers

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