Future of Work and Digital Management Journal 3 Serial Number 7 2025 03 30 Design and Development of an Insurance Industry Product Model Based on Artificial Intelligence, Blockchain, and the Internet of Things in Iran's Insurance Sector Design and Development of an Insurance Industry Product Model Based on Artificial Intelligence, Blockchain, and the Internet of Things in Iran's Insurance Sector 1 9 EN Journal Article 2024 10 20 <table> <tbody> <tr> <td> <p>The rapid advancements in emerging technologies—particularly artificial intelligence (AI), blockchain, and the Internet of Things (IoT)—have propelled the insurance industry toward unprecedented innovations and positioned InsurTech as a driving force in the reconfiguration of the insurance value chain. This study aimed to design and develop a product model for Iran’s insurance industry based on these transformative technologies. Employing a mixed-methods research approach (qualitative and quantitative), the study first extracted the initial indicators and components through systematic content analysis and semi-structured interviews with 15 experts in the insurance and information technology sectors. These qualitative data were analyzed using grounded theory via MAXQDA software. In the quantitative phase, a conceptual model was validated using a researcher-made questionnaire administered to a sample of 384 insurance industry customers. Data analysis was conducted using Structural Equation Modeling (PLS-SEM) via SmartPLS software. The findings revealed that emerging technologies significantly impact the performance of the insurance industry through four key components: AI-driven innovation in insurance products, blockchain-based transparency and security, IoT-based risk management and personalized services, and enhanced operational efficiency of insurance companies. The results suggest that by improving personalization, reducing costs, increasing transparency, and optimizing processes, these technologies not only enhance the operational and competitive efficiency of insurance firms but also improve customer experience and the overall sustainability of the industry. The study’s recommendations emphasize the development of innovative products, the strengthening of digital infrastructure, and the adoption of mobile applications for customer-oriented services and targeted advertising.</p> </td> </tr> </tbody> </table> https://www.journalfwdmj.com/index.php/fwdmj/article/download/71/74