Insurance market transparency research trends: Bibliometric analysis

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Transparency is a fundamental necessity for the insurance market in the modern fast-changing and digital world. The study aims to establish, based on bibliometric analysis, the research trends and subject areas of the insurance market transparency, including the impact of digital technologies, regulatory initiatives, and the internal policies of insurance companies. A bibliometric analysis of papers published in the journals indexed by the Scopus database for the years 1988–2023 was conducted to achieve this goal. Five clusters have been identified based on the analysis of the shared use of keywords, demonstrating the multidisciplinary nature of the research subject. They cover government regulation and risk management; ethics; technological innovations in increasing transparency; transparency of prices and costs in health insurance; and state medical insurance transparency. The analysis of insurance market transparency trends has allowed identifying four key stages of development: post-crisis regulatory mechanisms (2013–2016), Solvency II regulation effectiveness (2017–2019), transparency during the pandemic (2020–2021), and the impact of digital innovations since 2021. Spatial clustering made it possible to identify five groups of countries whose representatives are co-authors of research on insurance market transparency. The leading countries in research on insurance market transparency are the USA, the UK, and Germany.

Acknowledgment
This research was funded by the Ministry of Education and Science of Ukraine (projects No. 0122U000774 “Digitalization and transparency of public, corporate and personal finance: the impact on innovation development and national security”, No. 0123U101945 “National security of Ukraine through the prevention of financial fraud and money laundering: war and post-war challenges”). This research was funded under the research subsidy of the Faculty of Organization and Management of the Silesian University of Technology in Poland for the year 2023 (13/990/BK_23/0178).

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    • Figure 1. Visualization of the thematic areas for “transparency AND insurance” for 1988–2023
    • Figure 2. The key terms density map for “transparency AND insurance” for 1988–2023
    • Figure 3. Chronological publication trend for “transparency AND insurance” for 1988–2023
    • Figure 4. Time-context map indicating research focus shift for “transparency AND insurance”
    • Figure 5. Visualization map of co-authorship (the criterion is the country specified in the affiliation) of joint publications on insurance market transparency that are indexed by the Scopus scientometric database
    • Table 1. Top 10 most cited publications
    • Table 2. Ranking of countries by the number of publications on insurance market transparency in journals indexed by the Scopus database for 2013–2022
    • Table 3. Top-15 institutions that most actively participated in insurance market transparency research in 2013–2022
    • Table 4. Top 15 journals in which scientific works on insurance market transparency were published
    • Conceptualization
      Aleksandra Kuzior, Zuzana Kubaščikova, Victor Chentsov, Serhiy Lyeonov
    • Formal Analysis
      Aleksandra Kuzior, Liudmyla Zakharkina, Victor Chentsov, Serhiy Lyeonov
    • Funding acquisition
      Aleksandra Kuzior, Zuzana Kubaščikova
    • Methodology
      Aleksandra Kuzior, Zuzana Kubaščikova, Serhiy Lyeonov
    • Project administration
      Aleksandra Kuzior
    • Supervision
      Aleksandra Kuzior, Victor Chentsov, Serhiy Lyeonov
    • Writing – original draft
      Aleksandra Kuzior, Liudmyla Zakharkina, Zuzana Kubaščikova, Serhiy Lyeonov
    • Writing – review & editing
      Aleksandra Kuzior, Liudmyla Zakharkina, Zuzana Kubaščikova, Victor Chentsov, Serhiy Lyeonov
    • Data curation
      Liudmyla Zakharkina, Victor Chentsov, Serhiy Lyeonov
    • Investigation
      Liudmyla Zakharkina, Zuzana Kubaščikova, Serhiy Lyeonov
    • Resources
      Liudmyla Zakharkina, Victor Chentsov
    • Software
      Liudmyla Zakharkina, Victor Chentsov
    • Validation
      Liudmyla Zakharkina, Zuzana Kubaščikova, Serhiy Lyeonov
    • Visualization
      Liudmyla Zakharkina