How digital transformation projects can choose an AI business model and overcome the distrust from previous failures
How digital transformation projects can choose an AI business model and overcome the distrust from previous failures
This project started with the purpose to implement the latest AI for an insurer faster than the competition but had to become broader looking at digital transformation more holistically. Trauma and lack of trust among the employees of the insurer caused by a previous attempt to lead in technology, made a more holistic approach necessary. The trauma of previous failed innovations was overcome by co-developing and achieving broad agreement on a new business model. The new business model kept the existing services and operations mostly intact but added new services to fully utilize AI. This approach kept the risk at a level the main stakeholders were comfortable with. This project adapted one current tool and developed one new framework that will benefit similar projects focused on integrating AI. Utilizing the updated business model canvas customised by adding dedicated sections for AI and trust was beneficial. Additionally, this project developed the six AI focused insurance business models that offer a roadmap for the success of a digital transformation project. The main learning outcome is to understand how to utilize these tools to implement a project of digital transformation towards an AI focused business model.
business model, insurance, customer, insurers, trust, innovation, investment, trauma, organization
Zarifis, Alex
7622e840-ba78-4a4f-879b-6ba0f62363cc
Cheng, Xusen
f88a8aee-cd1d-46f7-8169-8448252003df
21 January 2026
Zarifis, Alex
7622e840-ba78-4a4f-879b-6ba0f62363cc
Cheng, Xusen
f88a8aee-cd1d-46f7-8169-8448252003df
Zarifis, Alex and Cheng, Xusen
(2026)
How digital transformation projects can choose an AI business model and overcome the distrust from previous failures
(Sage Business Cases)
20pp.
(doi:10.4135/9798348853891).
Record type:
Monograph
(Project Report)
Abstract
This project started with the purpose to implement the latest AI for an insurer faster than the competition but had to become broader looking at digital transformation more holistically. Trauma and lack of trust among the employees of the insurer caused by a previous attempt to lead in technology, made a more holistic approach necessary. The trauma of previous failed innovations was overcome by co-developing and achieving broad agreement on a new business model. The new business model kept the existing services and operations mostly intact but added new services to fully utilize AI. This approach kept the risk at a level the main stakeholders were comfortable with. This project adapted one current tool and developed one new framework that will benefit similar projects focused on integrating AI. Utilizing the updated business model canvas customised by adding dedicated sections for AI and trust was beneficial. Additionally, this project developed the six AI focused insurance business models that offer a roadmap for the success of a digital transformation project. The main learning outcome is to understand how to utilize these tools to implement a project of digital transformation towards an AI focused business model.
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Published date: 21 January 2026
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According to the agreement with SAGE this case is available for teaching purposes by us and our students.
Keywords:
business model, insurance, customer, insurers, trust, innovation, investment, trauma, organization
Identifiers
Local EPrints ID: 509879
URI: http://eprints.soton.ac.uk/id/eprint/509879
PURE UUID: e38209f7-6499-4ab6-8dd9-3884899f51ff
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Date deposited: 10 Mar 2026 17:37
Last modified: 11 Mar 2026 03:09
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Author:
Alex Zarifis
Author:
Xusen Cheng
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