Why Cloud Platforms Are Critical for Insurers
Insurance companies with a growth mindset should consider why motivated companies such as Netflix chose cloud migration more than 10 years ago.
An insightful article by Qualitest’s Simon Pickersgill, Senior Vice President, Account Management, was recently published in Insurance Thought Leadership and discusses the importance of cloud migration for insurance companies and the options they should consider.
For insurance companies, a custom cloud setup can help them harvest insightful data on policy holders in real time. This data can help organizations determine an individual’s likely risk and to personalize and price insurance products based on each customer’s behavior. The cloud also supports the collection and analysis of real time data provided by IoT devices, such as black boxes in cars or wearable tech that monitors health and physical activity, to moderate customer behavior and to reduce the risk of a claim and offer reduced premiums.
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