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November 30, 2017

How Can Insurers Leverage the Cloud?

Summary:

Insurers often fail to embrace the cloud for three reasons — and all three reasons are fallacious.

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Insurers often fail to embrace the cloud for three reasons—and all three are fallacies.

Accenture recently worked with a multinational insurer on its cloud implementation and helped it achieve an 80% reduction in costs of a particular environment of an application suite. However, many insurers have been reluctant to tap into the power of the cloud. In this Insurance Insight of the Week video, I’ll look at some of their most common hesitations—and how to overcome them.

Three steps to help insurers capture opportunities unlocked by the cloud

The cloud offers flexibility, agility and scale—key capabilities in a marketplace where traditional industry barriers have disappeared and customer expectations can change on a dime. In today’s digital economy, it’s a crucial technology that insurers can use to become more competitive.

See also: Future of Digital Transformation  

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About the Author

Michael Costonis is Accenture’s global insurance lead. He manages the insurance practice across P&C and life, helping clients chart a course through digital disruption and capitalize on the opportunities of a rapidly changing marketplace.

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