A critical examination of the advantages and disadvantages of the E — Insurance and how they explain its small penetration in the Greek Market
Purchase on Springer.com
$39.95 / €34.95 / £29.95*
Rent the article at a discountRent now
* Final gross prices may vary according to local VAT.
E-insurance covers the web-based enterprises from attacks; it offers data protection, coverage for loss of intellectual property and commercial property insurance programs. The terms and the conditions of the insurance packages are set out via the internet. Besides, the insured receives the contracts and the compensation online. The purpose of this paper is twofold:first, to provide a critical examination of the main advantages and disadvantages of the e-insurance. More specifically, we point the great facility it offers to customers as regards to its operational hours and the fact that the insurance became accessible to everyone. On the other hand, the greatest obstacles for the growth of the e-insurance systems are related with the absence of a single legal framework in a global level, with the required technology, the insufficient operational processes, the difficulty to determine the value of the confidential data, the fact that the users are cautious about the security that is offered and the difficulty in the communication between all participants.Second, to investigate the degree to which these advantages and disadvantages can explain the small penetration of the e-insurance in the Greek Market. To accomplish this, we have considered the evolution of insurance and e-insurance in Greece and the cases of Greek web sites which provide insurance services. This analysis enables us to explain the low penetration of the e-insurance in Greece and proposes the required actions that should be taken by the Greek insurance companies, which provide insurance services online, to be competitive.
- Anargiridou D., Anargiridis S. and Papadopoulos D. (2006). “A critical examination of the advantages and disadvantages of the e-insurance and the extend to which they pertain to its penetration worldwide and particularly in Greece”, in Proc. of the 18th National Conference on Operational Research, Kozani, Greece.
- Anargiridou D. and Papadopoulos D. (2004). “The advantages and disadvantages of the e-banking and the extend to which they pertain to the Greek Banks”, in Proc. of the 5th International Congress in Sheffield Enterprise Partnership in Europe, England.
- Anargiridou D. and Papadopoulos D. (2004). “The advantages and disadvantages of the e-stock exchange transactions and the extend to which they pertain to the Greek Banks”, in Proc. of the 3rd WSEAS International Conference on E-ACTIVITIES, Rethymno.
- Anargiridou D. and Papadopoulos D. (2005). “A critical examination of the advantages and disadvantages of the e-bond transactions and the extend to which they pertain to the issuing of bonds worldwide”, in Proc. of the IADIS International Conference, WWW/Internet 2005, Lisbon.
- Baur, E., Birkmaier, U. & Rüstmann M. (2001). “The economic importance of insurance in Central and Eastern Europe and the impact of globalisation and e-business”, Committee for trade, Industry and Enterprise Development, Fifth session, Item 4 of the provisional agenda.
- Bisker J. (2003). “Update on internet insurance”, TowerGroup, IBM Financial Services, Building an Edge, pp 123 -125.
- Boyle C. E. (2001). “New Capital Boosts Bermuda’s Reinsurance Industry”, Insurance Journal.
- Duffy D. (2000). “Cyberinsurance”, The professional Organization for CIOS.
- Jäntti, M. (2005). “The rationale for building a Business case in software development, a case study”, Proceedings of the 28th Information Systems Research Seminar in Scandinavia.
- Järvinen, R.., Eriksson, P., Saastamoinen, M., and Lystimäki, M. (2001). “Insurance in the Net — The offerings of insurance companies and the expectations of consumers”, Kuluttajatutkimuskeskus, Helsinki.
- Harvey M., (2001). “Of human bonding”, Financial Times, FT.com.
- Kathy Ford, Economist Intelligence Unit & Pricewaterhousecoopers Llp (2001). “E-insurance: Creating a Competitive Advantage”, ISBN: 9780862181758.
- Kesan J., Majuca R. and Yurcik W. (2004). “The Economic Case for Cyberinsurance”, University of Illinois Legal Working Paper Series. University of Illinois Law and Economics Working Papers, Working Paper 2.
- Landberg S. (2005), “Taking Advantage of the Insurance E-Revolution”, Principal, Nextera Interactive.
- Malone C. E. and Hunt L. H (2000). “e-Insurance. The Convergence of Insurance, Technology and Capital”, Report by Friedman, Billings, Ramsey ⇐p; Co.
- Maurice, A. (1998). “Insurance frustrates online shoppers, National Underwriter/Life & Health Financial services”, Vol. 102, Issue 49.
- Meyer, S and Krohm, G (1999). “An Overview of Regulatory Developments of Insurance Transactions on the Internet”, Journal of Insurance Regulation, Vol 17(4).
- Mitchell, R. (2000). “Reputation Critical to Internet Success”, National Underwriter, Vol 104 (25), pp 19.
- Organisation for Economic Co-operation and Development (2002). “E-insurance”, Workshop on insurance and private pensions in the Baltic States, By OECD Secretariat.
- Reich-Hale, D. (1999). “Doubts Expressed on Online Insurance Sales”, National Underwriter, Vol 103 (3), pp 26.
- Rowen H. (2000), “E-Commerce and Insurance:A California Perspective”, E-insurance.
- SIGMA (2001). “The Impact Of E-Business on the Insurance Industry: Pressure to Adapt - Chance to Reinvent”, No. 5, Zurich.
- Sweeney K. A. (2001). “Don’t Tell Anyone, but E-Insurance is Alive and Well”, Insurance Journal.
- The Economist Intelligence Unit Limited and PricewaterhouseCoopers (2001). “E-insurance, Creating a competitive advantage”, Executive Briefing.
- Thieme R. (2001). “What Insurance Can — and Can’t — Do for Security Risks”, Secure Business Quarterly, Vol. One, Issue Two, pp.1–5, @stake publication. Trembly, A. C. (1998). “Insurers failing to meet consumer demand on internet selling. National Underwriter/Property ⇐p; Casualty Risk ⇐p; Benefits”, Vol. 102, Issue 5.
- United Nations Conference on Trade and Development (2002). “E-Commerce and development, E-Insurance”, Internet version REPORT 2002, UNCTAD secretariat.
- Williams, C. (2001). “Determining Your Net Worth”, Federal Deposit Insurance Corporation.
- A critical examination of the advantages and disadvantages of the E — Insurance and how they explain its small penetration in the Greek Market
Volume 7, Issue 3 , pp 465-480
- Cover Date
- Print ISSN
- Online ISSN
- Additional Links
- Industry Sectors
- Author Affiliations
- 1. Accounting and Finance Department, University of Macedonia, 10 Kritis Str. Ampelokipi, 56123, Thessaloniki, Greece
- 2. Accounting and Finance Department, University of Macedonia, 156 Egnatia Str., 54006, Thessaloniki, Greece