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Cloud computing - a huge opportunity for the Insurance Industry

19 June 2014

Cloud computing continues to create a buzz and is seemingly like Marmite with lovers and haters. In the latter category the loudest point to a long list of risks, but risk is inherent in any business and the benefits of the cloud should be embraced, not feared. Cloud computing offers the possibility of improving IT systems management and is changing the way in which hardware and software are designed and purchased. In our view, early adopters will be the first to reap these benefits and the Insurance Industry should be taking note.

The obvious benefit of cloud is the flexibility of the solution. It offers you scalability, with ‘processing on demand’. Thus, instead of having to amass the infrastructure to support your peak levels of activity, which is only needed occasionally, the cloud gives you the elasticity to match resources to business activity. This flexibility can be taken further when linked with powerful software.

Our software is one of the first insurance applications that can run in the cloud. Bluescape has been developed for full flexibility whether we’re looking at the platform or the business requirements. It supports any mixture of lines of business across the quote, rating, policy administration and claims module on a single platform. ‘On-demand’ cloud resources will allow you to design, change and test any of the products and processes that are held on the single bluescape platform without the need to invest in supporting systems. Add the flexibility of cloud hosting with the flexibility of a software solution and you can take insurance provision to the next level.

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