Artificial intelligence adoption in the Malaysian insurance sector: an integrated TOE–UTAUT framework analysis

Purpose This study aims to investigate the adoption of artificial intelligence (AI) among insurance professionals in Malaysia, integrating the Unified Theory of Acceptance and Use of Technology (UTAUT) and Technology-Organization-Environment (TOE) Framework. It examines technological, individual, organizational and institutional factors, with the central bank support modeled as a moderating influence. Design/methodology/approach A sequential mixed-methods design was used. Phase 1 involved semistructured interviews with ten insurance professionals to identify key adoption determinants and inform survey development. Phase 2 implemented a cross-sectional survey of 368 respondents, analyzed using partial least squares structural equation modeling to assess hypothesized relationships and moderating effects. Findings Performance expectancy, social influence, facilitating conditions, system quality, awareness and personal innovativeness significantly drive adoption, while effort expectancy and technology self-efficacy showed unexpected negative effects. Central bank support strengthens the effects of social influence and personal innovativeness on adoption intentions. Originality/value This study offers the integration of UTAUT-TOE for AI adoption in the Malaysian insurance sector, explicitly modeling central bank support as a moderator. The findings provide actionable recommendations for insurance firms and policymakers, including targeted training, awareness initiatives, IT infrastructure investment and regulatory support to accelerate adoption while ensuring alignment with sectoral and institutional requirements.