InsurTech aggregators Development in Russia: Psychological Aspect

In modern society, the economic digitalization is gaining momentum, covering almost all its spheres. The versatility and diversity of consumer behavior that exists in each society changes the previous, well-established business models radically. Global changes have also affected the sphere of insurance services. With the advent of insurance technologies, the insurance culture in modern Russia is in constant development. The purpose of this paper is to describe the essence of the InsurTech technology and the psychological grounds for its application in Russian practice. As a result, five bases of psychological analysis were identified when determining the types (or strategies) of insurance behavior, namely, benefit, rationality of choice, risk sensitivity, financial anxiety, and attitude to insurance policy. The psychotypes of policyholders depending on their psychological attitudes are given: "paternalists", "market suppoters" and "neutral". It is concluded that the peculiarities of the attitude of Russian citizens to insurance services in the virtual environment have not yet been sufficiently studied, and research on the transformation of insurance consumers thanks to InsurTech is practically not presented. Nevertheless, there are some trends in the transformation of the behavior of the consumers of insurance services under the influence of the Internet technologies. That is why the makers of both psychological characteristics and demographic variables (sex, age, income level, employment) should be taken into account when developing insurance scoring for aggregators InsurTech.