Cloud adoption enables insurers to alleviate the burden of maintaining and upgrading expensive IT infrastructure. (Photo: iStock)
Migrating from on-premise to the cloud is becoming a widely accepted business trend in Insurance and many other industries. According to a recent Novarica report, cloud adoption in insurance has more than tripled over the last three years, growing from 20% to 70%. This trajectory is expected to continue, enabling insurers to alleviate the burden of maintaining and upgrading expensive IT infrastructure while increasing the agility and flexibility of business operations.
However, some insurers are still hesitant to take advantage of the cloud because of data security concerns. The latest Ping Identity survey found it to be the highest barrier of cloud and SaaS adoption with 43% citing the issue. The reality is that the cloud is more secure than on-premise systems, but only when the right protocols and approaches are implemented. Below are some fundamental practices that can improve cyber hygiene.
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