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Keywords
Cloud computing, Insurance Industry, Digital Technologies, Pakistan.
Abstract
Purpose: The idea of insurance was discovered several millennia before Christ (BC). In the second and third millennia BC, traders from China and Babylonia practiced shifting or dispersing risks. Today, insurance is the foundation of the economy, but expanding its penetration is difficult in emerging nations. The fourth insurance industry revolution in the developed world was sparked by the recent advent of Blockchain, IoT, Big Data, and InsurTech.
Objective: To boost insurance coverage in Pakistan, this study examines the problems with and potential solutions to cloud computing.
Research Methodology: To identify the themes and factors related to problems and solutions in implementing cloud computing in the Pakistan insurance business, this study used a systematic literature review. Several keywords were employed to find pertinent material from Google Scholar. The filtered studies were examined based on inclusion and exclusion standards.
Findings: This report outlined many obstacles to cloud-computing adoption in the Pakistan insurance sector as well as potential remedies. The proposals could help policymakers improve the service delivery in the insurance industry.
Introduction
Cloud computing is a popular computing model that offers a quick and affordable way to access IT infrastructure as an internet service. It has become a scalable services consumption and delivery platform, allowing for resource sharing among cloud service consumers, partners, and vendors. Cloud computing architecture varies among different projects, such as Google, force.com, and Amazon, but there is no concrete definition for cloud computing. The evolution of cloud computing has enabled the processing of large volumes of data and the adoption of pay-for-use models. However, cloud security remains a critical factor hindering its development, and further research is needed to enhance fundamental theories and explore innovative strategies (Umar et al., 2016).
Cloud computing has gained attention in Pakistan, particularly in educational settings, due to its cost efficiency and the desire of college students to adapt to emerging technologies. The use of cloud computing in educational establishments in Pakistan has been explored through surveys conducted in cities such as Peshawar and Faisalabad. The surveys aimed to understand the perception of users and identify potential issues faced when using cloud computing. Developing countries, including Pakistan, have recognized the benefits of cloud computing, such as reduced...