More and more insurers are turning to software-as-a-service (SaaS) providers for low cost, easy-to-implement technology solutions. New solutions in the cloud offer insurers a remarkably fast and cost effective way to implement fraud analytics technology without burdening overwhelmed IT resources or introducing big capital expenditures.

What is "the cloud" anyway?

Lots of people talk about "cloud computing" but not everyone is sure what it really means. Essentially, cloud computing involves accessing data or applications via the Internet. There are many different configurations of cloud computing. Public clouds use shared infrastructure to host data or applications for multiple clients who share in the economies of scale. Private clouds use dedicated hardware for more secure applications. Regardless of the configuration, the cloud can be used to offer SaaS.