A cloud technique each life insurer may be taught from | Auto Financiez

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At the AWS re:Invent Conference a couple of weeks in the past, Accenture had the great fortune to share a breakout session with our shopper, Guardian Life Insurance Company. As they described their enterprise technique for bettering top- and bottom-line development, one thing struck me: all of it flowed instantly from their cloud technique. Everything they described made good enterprise sense, however one ingredient stood out. Flexibility.

Flexibility is a necessity for insurers as we speak. Technology and market calls for are altering so quick there’s barely any time to decelerate. It’s nearly like altering the tires whereas the automobile continues to be transferring. But corporations which are versatile sufficient to alter path when vital – even because the tires are being modified – can have a transparent benefit. Guardian did simply that when it adopted the cloud for its core insurance coverage techniques.  It leveraged cloud flexibility with a configurable, no-code coverage administration system. By adopting these two applied sciences concurrently, Guardian sped up their product improvement and diminished their working prices.

Guardian isn’t alone in adopting the cloud for his or her core insurance coverage techniques. We’re seeing a rising demand for cloud providers amongst life insurance coverage and annuity carriers. Like Guardian, they’re searching for versatile cloud pricing and internet hosting choices that may maximize the cloud’s advantages for his or her particular person enterprise wants. For some insurers that might imply managing their very own cloud; for others, internet hosting may make extra sense. Regardless, the life insurers we work with are discovering that cloud supplies improved service and safety, together with diminished working prices.

More importantly, cloud empowers life insurers to drive enterprise development by higher assembly their prospects’ wants. It permits them to create new and differentiated services and products particularly tailor-made to their prospects’ particular person circumstances. Cloud additionally makes doable a seamless omnichannel expertise for patrons to entry these new services and products. That’s a cloud technique each life insurer can profit from.

Whether you’re planning to function within the cloud or are already there, I invite you to learn this weblog put up A Cloud Transformation at Guardian Life. It explains Guardian’s cloud method and describes how they’re creating merchandise sooner utilizing the Accenture Life Insurance & Annuity Platform (ALIP) working on AWS.

I’m completely satisfied to reply your questions or focus on how we are able to advance your digital insurance coverage cloud technique.

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Disclaimer: This content material is supplied for basic data functions and isn’t meant for use instead of session with our skilled advisors.

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