For customer-focused insurers looking to expand into new markets, the ability to maximize their technology spend and resources efficiently through cloud-based computing delivers a significant competitive edge affecting how they service new and existing customers. Maintaining technology operations across the cloud’s network of shared resources creates new levels of stability for business transactions, enhances operational scalability and flexibility, allows for fail-safe disaster recovery, and facilitates seamless software maintenance and upgrades.
Key business drivers for insurers moving to cloud-based services include:
- Faster speed-to-market.
- Increased operational agility.
- Lower costs with shared infrastructure.
- Faster deployments.
- Enhanced internal efficiencies.
- Significant economies of scale.
Cloud computing offers innovative ways to meet changing market needs and deliver products to market in a scalable and cost-effective way. This special feature provides an introduction to the SaaS economy and its business drivers.