Insights into InsurTech Adoption in Iran: Applying an Extended UTAUT۲ Model

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 (UTAUT۲) 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 ۲۲۵ 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.