3 Reasons for the Inevitability of Cloud Computing

Grazed from InsuranceTech. Author: Kevin Mason.

Talking about cloud computing can bring on a serious case of déjà vu. The concept of consuming information technology as a utility sounds, on its surface, a lot like the application service provider (ASP) model of the 1990s that faded away by the early 2000s.

However, this time around the concept of consuming information technology as a service has manifested itself differently, and the widespread adoption of cloud computing in the insurance industry is inevitable. Interest in and usage of cloud is being driven by three key factors:..

1. Investment in cloud infrastructure is massive in scale. The ASP model suffered from a number of problems, including limitations of private networks, lack of investment in architecture and bandwidth, and a limited range of software offerings. Today, cloud can be based on the available-anywhere internet, as well as private networks. Also, cloud providers have sunk millions of dollars into building infrastructure and data centers on a massive scale. With this investment in capacity, cloud providers can slash costs to provide cloud computing at a very attractive cost…

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