Insurers, although risk-averse as a group, are turning to the cloud as a way to solve specific business issues. (iStock)
Although the insurance industry was slow to warm up to cloud computing, more and more insurers — especially those in the Property and Casualty sector — are now embracing SaaS business models enabled by cloud technology, as they understand the key benefits it offers in today's competitive and disruption-prone marketplace.
Insurers, although risk-averse as a group, are turning to the cloud as a way to solve specific business issues, including: the ability to evolve their operations quickly and smoothly to meet customer needs; to secure important private data; and to remain agile in an increasingly competitive and dynamic industry landscape. If nothing else, most insurers are now at least trying to gain a better understanding of the cloud destination, to see around the corner and understand where the industry is headed, both operationally and strategically.
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