Insights into InsurTech Adoption in Iran: Applying an Extended UTAUT2 Model

Hadiseh Mahmoudieh¹ Alborz Rezaei² Arash Khalili Nasr³

1) 1. Graduate School of Management and Economics, Sharif University of Technology, E-mail:
2) 2. Graduate School of Management and Economics, Sharif University of Technology, E-mail: sharif.edu
3) 3. Graduate School of Management and Economics, Sharif University of Technology, E-mail:

Publication : 2nd International Conference on Applied Researches in Humanities, Economics, Management & Accounting(icrhema.com)
Abstract :
This study investigates the influence of cultural values on individuals intentions to adopt insurance technology (InsurTech) and explores the impact of word-of-mouth on its adoption within Iran. Extending the Unified Theory of Acceptance and Use of Technology (UTAUT2) model, this research integrates word-of-mouth, uncertainty avoidance, and individualism/collectivism factors into a conceptual framework. Employing a quantitative methodology, data were gathered from 225 participants, and structural equation modeling assessed the proposed model. Empirical findings reveal that performance expectations and effort expectations significantly positively impact insurance technology adoption, while uncertainty avoidance negatively affects it. The study underscores the pivotal role of cultural values in fostering InsurTech adoption. By expanding and validating a comprehensive model, this research contributes to enhancing our understanding of intentional behavior toward adopting InsurTech, enriching the existing literature in this domain.
Keywords : UTAUT2; InsurTech; Culture; Word of Mouth; Behavioral Intention