Business Models for Insurance of Business Web Services

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Author(s): Liu Wenyin (City University of Hong Kong, China & CityU-USTC Advanced Research Institute, China), An Liu (University of Science & Technology of China, China & City University of Hong Kong, China & CityU-USTC Advanced Research Institute, China), Qing Li (City University of Hong Kong, China & CityU-USTC Advanced Research Institute, China)and Liusheng Huang (University of Science & Technology of China, China & CityU-USTC Advanced Research Institute, China)
Copyright: 2011
Pages: 12
Source title: Global Business: Concepts, Methodologies, Tools and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-60960-587-2.ch215

Keywords: Business & Management / Business Science Reference / Global Business

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Abstract

A new business—insurance on business Web services—is proposed. As more and more Web services will be developed to fulfill the ever increasing needs of e-Business, the e-marketplace for Web services will soon be established. However, the qualities of these business Web services are unknown without real experiences and users can hardly make decisions on service selection. We propose that insurance can help build trust in the market of Web services. In this chapter, we propose three insurance models for business Web services and enabling technologies, including quality description, reputation scheme, transaction analysis, etc. We believe that the insurance of business Web services will help service competition and hence boost the development of more and more business Web services, and the software industry at large.

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