Software-as-a-service ‘can benefit insurance companies’

Software-as-a-service solutions can help the work of insurance companies.

This is according to an article from Predictive Communications published on IT Web, which laid out some of the "compelling" arguments in favour of businesses involved in this sector making use of the technology.

"Insurance companies of all sizes can benefit from access to best-practice solutions at an affordable cost, which means even smaller insurers can benefit from enterprise-class system excellence," the report said.

It noted software-as-a-service applications can be paid for on a monthly basis, meaning insurers can defer costly capital expenditure projects and let their IT costs grow in line with usage.

Last month, Saideep Raj, global software-as-a-service lead for Accenture, told Computerworld that the technology can bring about various economies of scale for enterprises.

He explained the solutions can offer benefits such as fast implementation, lower total cost of ownership and an increased amount of flexibility when changes are required.