New Approach to Insurance Industry Development Based on Virtualization Technology
Majid Taghiloo, Hasti Tabrizi Nasab
Journal of E-Technology, Vol. 2, No. 4, 2011.
DOI: 
Link: http://www.dline.info/jet/fulltext/v2n4/2.pdf
Abstract:
Currently speaking, lack of efficient Information Technology infrastructure makes the development of E-Commerce a lot more complicated. This relates to the fact that information required for supervisory-regulatory entities is not being updated. Insurance industry is the most important part of E-Commerce and, hence, shifting all transactions to the electronic environment in order to improve its penetration rate is inevitable. By advent of electronic insurance and its influence in all industrial sectors, rapid development of it can be expected. This paper introduces the life cycle of the insurance industry in which the development process and the role of information technology in each section of this cycle has been studied; In the form of a three-dimensional model, the effect of information technology on the key elements of the industry is analyzed, and in order to reduce costs and increase efficiency in managing large-scale insurance industry, a new approach based on virtualization is proposed in which the new arrangement of information technology infrastructure is described. Finally, by evaluating the effect of virtualization on the development and maintenance of IT infrastructure, efficiency of proposed method is displayed.