Title:
Trends of Web Sales in Financial Industry– the Case of e-Insurance
Abstract: Digital trends in the economy are having a significant
impact on the financial industry. New technology is driving the firms in
this industry to new digitally networked models where strategic transformation
processes have taken place (Meerts, 2002). E-finance institutions are moving
towards an “extended companies” model where small-networked companies can
freely serve their chosen customers and communities of interest. New online
financial intermediaries (e.g., myciti.com) have made it possible to connect
customers to financial services and prices that best fit their needs. Such
virtual companies have made it possible for financial services to be mostly
offered on the Internet without the need for traditional brick-and-mortar
interactions. Knowledgeable customers are demanding simpler, faster and more
effective service at a lower price. Consumers like to have different choices
when they shop for insurance. They want to call toll-free numbers, talk to
insurance professionals, and surf online to get information. Insurance companies
are trying to satisfy both groups of customers: those who like to purchase
online and those who like face-to-face interactions