Uncovering Risks in Insurtech From the Perspective of User-Perceived Risks: A Bibliometric Analysis and Future Research Agenda

This study aims to reveal the major risks faced by users in the insurance technology (Insurtech) sector and examine research and development trends in this field. This study employed the PRISMA protocol to screen 99 relevant records from the Web of Science database. Subsequently, the authors utilized RStudio and VOSviewer for data visualization analysis. First, the study identified the risks, including privacy risk, security risk, fraud risk, algorithmic bias, systemic risk, financial risk, regulatory risk, and claims risk. Second, scholarly attention to Insurtech risk began in 2006, reaching its peak in 2022. The cluster analysis shows that the core research includes risk and trust, technological fairness, blockchain, artificial intelligence, data security, cyber risks, and privacy concerns. There is also an observed evolutionary shift in theme from information security and privacy protection to algorithmic transparency and technological fairness. Further, this study suggests future research should strengthen cross-national collaboration, develop a “risk identification-assessment-response” framework, and pay attention to potential risks that may arise from emerging technologies such as generative artificial intelligence (GenAI) and Industry 5.0. All in all, this study systematically maps Insurtech risks from the user perspective, thereby overcoming the limitations of previous research, which primarily focus on corporate and regulatory viewpoints. Lastly, the findings provide industry practitioners with references for risk governance, while also expanding the theoretical framework of Insurtech risk for the academic community.