An Investigation of the Internet Effects on Business

Abstract

In recent years, due to rapid growth of information and communications technology, and most importantly, the expansion and development of internet, the trend of these variations has been accelerated. Electronic is one of these options that many debates are performed concerning the implementation and in particular, its impact on business. In present paper, in addition to defining the electronic insurance, the impact of e-commerce on insurance industry has been discussed. Internet banking has made it easy to carry out the personal or business financial transaction without going to bank and at any suitable time. This facility enables to transfer money to other accounts and checking current balance alongside the status of any financial transaction made in the account. The recent evolution of Information technology in the financial services industry is changing the pace of providing insurance services, not only in India but in the world over. This paper looks at how banks and financial firms can interact with ecommerce. First, banks and financial firms can learn from e-commerce and use the technology and business practice of e-commerce to develop and market their products to the customers. The advent of the internet has revolutionized the way people buy and sell. The internet is characterized by increased access to information. Adaptation of the Internet for commercial purposes in the last decade of the twentieth century has lead to the birth of a new phenomenon: e-commerce.