Abstract
 

Digitalization represents one of the most influential megatrends of the twenty-first century, profoundly transforming economic structures, work practices, and value creation across industries. While the literature has widely examined technological change and service innovation, limited attention has been paid to how digital technologies enable business model innovation in traditional service sectors, particularly in the insurance industry. This thesis addresses this gap by analysing how digitalization reshapes service business models and by examining the strategies through which insurance companies implement digital business model innovation in response to increasing competitive pressure and technological disruption. 

Building on a structured review of the digital economy and digitalization processes, the research analyses common digital transformation approaches, their effects on value creation, and their implications for productivity and competitiveness in service-based industries. The empirical part of the thesis is based on an in-depth case study of Allianz Deutschland AG, a leading insurance company, which illustrates how digital technologies can be successfully integrated into an existing business model. 

The findings highlight the transformative potential of digitalization for service firms and demonstrate how digital business model innovation enables insurance companies to enhance efficiency, flexibility, and customer orientation. By providing a systematic overview of digital business models and InsurTech developments, the study contributes to the understanding of digital transformation in the service sector and offers practical insights for managers seeking to navigate opportunities and risks associated with digital business model innovation.