A Bibliometric Analysis of Auto Insurance: Current Status, Development, and Future Research Directions

Abstract

Auto insurance has been an essential complimentary service to owning a vehicle due to the accident rates’ history on a global scale. We aim in this study to analyze the existing literature on auto insurance. We applied bibliometric analysis and cluster analysis to the selected database's data. From the conducted investigations, we concluded that auto insurance researchers focus on detecting fraudulent activity, identifying accident-causing behavior, monitoring clients’ driving behavior for premium discounts and society’s safety, and innovating models for auto insurance development. It has been illustrated from the reviewed papers that insurers’ data collection methods require improvement and the restructuring of suggested models in either assessing drivers or setting premiums. Moreover, the insurers are recommended to improve society’s overall driving behavior, update the insurance policy, predict the loss factors, and create more auto insurance programs that benefit all interlinked parties. This study has contributed theoretically to the knowledge community by displaying the trend of auto insurance research and development during the 21st century. It provides scholars with a baseline for future research that could reduce the knowledge gap between researchers and insurers or policymakers.

Keywords Auto Insurance, Bibliometric analysis, Car Insurance, Collision Insurance, Motor Insurance