iSpy India Pvt. Ltd.(ELECTRONIC INSURANCE)

Submitted To: Prof. Swati Shukla

Submitted By: Jatin Mittal

Anugreh Kumar

Ishan Bhasin

Introduction of the Sector

Information technology (IT) is a branch of knowledge concerned with the development,

management, and use of computer-based information systems. In its initial modern sense,

during its inception, it was named so because in all accuracy it was the best provided

understood term to patent the work undertaken.

India, being a knowledge hub in the IT and ITES sectors have until now given

employment to around 9 million people, spanning horizons of profit scorching over 100

billion dollar revenue, catalyzing the Indian economy to new leaps and bounds.

Naturally as the IT sectors of the world are on constant increment, there arises constant

need to upgrade existing technology and invent novel ones. At this juncture, the newly

formed ISPY industries have calculatedly studied the cyber market, and collaborated and

reinvented both the antivirus and insurance sectors, dealing directly or indirectly with IT

portals and the functionality of superior technologies.

It is called the ‘Electronic Insurance’

Introduction of Product

As the name Electronic Insurance implies, it is a redesigned branch of software

engineering designed to capacitate both the advantages of a competitive antivirus

software, as well as the beneficiaries of a hefty insurance policy.

Therefore, for modern companies today, which deal with the stress of being

technologically equipped with information, as well as secure encrypted monetary assets,

a revolutionized collaboration of both antivirus and insurance is almost essential.

Thus the concept of ‘One software does it all’ is the created product of ISPY industries to

add a sophisticated convenience to companies of a higher requirement of professionalism.

Now to cure the ambiguity of how an antivirus software actually detects a virus. It has three phases:

1. Signature scan

2. Heuristic scan

3. Rootkit detection

4. Real time protection

ISPY industries has compiled together a fifth virus detection software, called the Trojan Mirror. Trojan mirror allows access of 1% of a virus willingly, traps it, decodes it, creates an encryption coded exactly like the virus and sends it back to the source, leaving the sender in automatic destruction.

Process of Installation

The customer gets in contact with the ISPY industry and confirms their interest and

participation in the product

An agent is then sent with an ‘Electronic Bracelet’, which is similar to a bank vault but

for delicate information.

Once the shipment has arrived, the agent organizes the set up of the control room with the

help of the technical staff available. This process takes around 18-23 days.

The requisite software is installed into the entire systems internal hardware.

What the Electronic Insurance does

In hindsight, the electronic insurance is said to nullify the turbulence of suggestively

volatile stock markets.

Basic Functionality: As aforementioned, the primary personality of the electronic

insurance is to detect any devious penetrating pirate from entering and accessing any

information that is supposed to be concealed from the general public.

Bad Debt Tracker: This is the punchline marketing component of the software which

makes it untouchable to any competition. It involves systematic data collection and

analysis into folders, namely profitable transactions, idle transactions, reasonless

transactions and malicious transactions.

Insurance: This is the specialization of the software, for any information lost, stolen,

misrepresented or manipulated which comes under the consideration of the supervision of

the electronic insurance as per the deal finalized by the company and market, will be fully

and dutifully reimbursed by the ISPY industries.

Data collection and analysis

The main competitors in this sector of the industry are the various antivirus softwares that

currently protect the computech management of the multi national corporations of the

world, as well as the computers for domestic use.

The electronic insurance does not cater to the domestic circuit and deals only with

companies with financial regulations. It is not a simple cd-rom that is inserted and

installed, it is a structure of complex coding framework, built-in to the hardware of the

computer.

Benefits of our Product

Taking for example firm X, which has a total monetary transaction of 100 crores in a

year. At least 45 lakh is spent on software updates and safety regulations of money, etc.

Still there are always abnormal losses ranging from 1-25 lakh.

After installing the electronic insurance, the company will have to pay only 20 lakh a

year, and completely forget any hassles or formalities about their transactions.

With the bad debt tracker, the company is also alerted about any potential fraudulent

deals and alerts the management personnel and subsequently freezes the assets.

Cost Analysis

The initial capital required to establish the technical hardware and programming

softwares was around 12 million USD, and the working costs per organization would be

approximately 32% of the revenue earned by them.

Depending on the size of the organization, the control room for the software would be set

up, therefore if a company requiring managing and protection of assets of 100 crore, to

set up the necessary technicalities would be anywhere between 65-90 lakh, depending on

the strength and frequency of the monetary transactions made.

If the organization is handling more monetary transactions, then their establishment cost

would be higher than that of a company which requires more of safety of information.

IT Exports

The following is a chart on the amount of IT

exports made in a year which amount for

currently 69.1 billion USD.

This is expected to increase the total exports

as the net value of monetary transaction

undertaken by all these firms is an

approximate overall of 169 billion USD.

Indian export increment of approximately

0.367 %, and the industry is expected to grow

at a steady rate of 4% per annum

Conclusion

The electronic insurance is all set and ready to revolutionize the Indian IT sector and responsible for the 15% estimated growth of export growth in FY 2012-13, in comparison to 9.4% growth in FY 2011-12.

ISPY industries has created pie charts based on the balance sheets of financial reports of all major companies which have requested a demonstration. A trained employee will be sent to each company and provide a presentation.

ISPY forms the middle-man connection and in turn saves major insurance hassles and downpayments on credit and financial electronic transactions.

The product invented by ISPY industries proves that entertaining brilliance and innovation can be critical to the improvement of business and commercial standards of sophistication.