Industry observers believe that cloud will play a large role in enabling new and evolving business models in insurance, such as telematics.
"One thing that will drive future momentum of cloud is undoubtedly an explosion of usage-based insurance in the next few years," says Accenture's Michael Jackowski. "Carriers will be trying to move fast and furious to keep up, and there are tons of cloud-based telematics companies popping up."
The problem for carriers is the infrastructure investment required to successfully implement a usage-based program. "If you tie yourself in knots studying the market, you'll be behind," says cloud consultant Michael Hugos.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
