Have you made purchases on Amazon? Searched for something on Google? Watched a pet video on Facebook? If you’ve done one, ore or all these things, you’ve used cloud-based software. There is a big difference between choosing the cloud personally and choosing to migrate your entire PAS there.
The real question is, “What is the optimal way to implement the cloud?” Will you re-skill your IT and use them to migrate to the cloud? That might work or it could take a prolonged period and increase your risk.
How does cloud computing help insurers? When you migrate to the cloud, you save data center costs and leverage shared teams to reduce IT costs.
The cloud is perfect for business continuity and resiliency. All clouds are built with Geo-Zone-Redundant and Data centers to share between multiple data sites. Information is always available without dependency on IT or physical presence.
The cloud facilitates “Zero Down Time” for your system and digital capabilities; no down time for maintenance windows, the system is always up for internal and external users, without any “unavailable at this time” pages.
Once you are on the cloud, you’ll possess the capabilities to be more innovative, agile and flexible. Last year, Gartner and Celent reported that over 70% of insurance companies were already working in or planning to work in the cloud. That number has only increased during the current situation. The cloud keeps you competitive and working no matter the market or a pandemic.
If I’ve convinced you, the next question is…How do I successfully migrate to the cloud?
An experienced vendor has already developed cloud migration best practices and ongoing cloud support processes. To achieve risk reduction, you need a complete and flexible service.
You need a vendor who can:
- Understand your business needs and goals
- Advise you on building the best cloud for you to succeed
- Perform migration
- Fully commit to the required service level
- Manage the system on the cloud
Choose wisely and the sky’s the limit!