Cloud Computing: Transformative, Disruptive, and a Smart Way to Do Business
September 25, 2012
Grazed from PropertyCasualty360. Author: Robert Regis Hyle.
How many transformative technologies can one industry endure in a 12-month period? Transformative itself may be the early favorite for Word of the Year in insurance technology if it’s not beaten out by another serious contender: disruptive.
We may go out of our way to place too much pressure on one piece of technology—such as telematics—to lead the industry into the promised land, but despite the hype it’s hard to argue that the use of cloud computing is going to have a powerful effect on the industry. The next 10 years will offer great challenges as carriers look to secure their operations via a private cloud yet still have access to large amounts of third-party data and—even more important—tremendous computing power to analyze all that data…
It’s difficult to say which area of the cloud will be more appealing to insurers. Bill Hartnett, who operates his own consulting firm today after years of running Microsoft’s insurance operations, believes the economics of computation is what makes the cloud attractive to insurers…
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