Insurance Going Web-Based Research Paper Example | Topics and Well Written Essays - 1250 words

Insurance Going Web-Based - Research Paper Example This research paper aims to describe web based insurance that is faced with many problems that will take time before it can match other internet services like internet banking. Though there are benefits of a company moving towards web based insurance, the problems are still many. The first problem is the lack of customers’ willingness to purchase and handle their insurance issues over the internet. The second problem is the fact that insurance companies and firms will always go on to design their own internet products and services unique to their company and will not corporate in the field. The third problem is that the internet is particularly suitable for products where contact with the company is more frequent. The fourth problem is that little knowledge exists in web based insurance as compared to other internet services like internet banking. The fifth problem is that, it is very difficult to standardize claims settlement for example, as this involves a lot of decision ma king. Looking at the above issues we can conclude that web based insurance is something difficult as insurance is different from other services that are offered online. However, the researcher also discusses several benefits of web-based insurance. It can be concluded that there exist many problems in insurance going web based from the manual method. The many complexities in insurance products make it difficult to implement it. There are a few benefits that can be identified but the problems are still many and difficult to solve.