E-insurance in UAE Essay Example | Topics and Well Written Essays - 5000 words

E-insurance in UAE - Essay Example It looks at how e-business can reshape the insurance industry in the coming years. The research attains this end by addressing the following objectives: 1. A critical examination of the essential components of e-insurance 2. An assessment of the United Arab Emirates' business and socio-cultural terrain 3. An evaluation of the chances of successful implementation of e-insurance in the UAE. The propagation of the World Wide Web (WWW) and all other communication technology has created new dynamic channels through which insurance companies can promote and sell their services. Insurers can now provide services twenty-four hours a day, seven days a week at a low cost and over broader geographical area. Besides these opportunities, this research will highlight the problems associated with e-business in insurance sectors for both the insurer and insured, e.g. privacy issues, security payments, lack of information, the level of advice needed and other issues related to electronic business. Th e researcher will use structured questionnaires to collect data and then test results to answer and understand the questions, thus evaluating the current potential of e-insurance in the UAE market. ... This is in the interests of both parties. Chapter 2 Literature review: This component of the research undertakes the definition of the key elements and aspects of the main components of the research. This include the structures of e-business and e-insurance, the Emirati society and other relevant elements needed for the successful implementation of e-insurance strategies in a given nation. 2.1 E-business Since E-business forms the framework within which e-insurance operates, there is the need to look at it in detail. 2.1.1 Defining e-business "Electronic business can be defined as the use of the internet to network and empower business process, electronic commerce, organizational communication and collaboration within company and with it customer, suppliers and other stakeholders" (Combe, 2006). In other words, it refers to the use of the Internet and other electronic system to conduct business. This enables people to conduct business over a considerably large distance and attain the same results as those who do so in a face-to-face manner. The difference between e-commerce and e-business lies in the wider range of processes that e-business applies. Authors like Chaffey (2004) state that e-commerce can best be conceived as a subset of e- business, i.e. it represents selling and buying transactions in the wider e-business world, containing other procedures and elements, such as online customer services, electronic marketing, secure payments and other processes. From another point of view though, e-commerce can be see to be a branch of e-business. Thus, whilst e-commerce is concerned with buying and selling, e-business is concerned with the integration of major business activities, like advertising, customer care and the like