Insurers can use advanced technologies like cloud and DevOps to reduce costs and increase efficiency
In my previous post, I investigated how leading financial services (FS) organizations exploit the power of artificial intelligence (AI) and intelligent automation
In this post, I discuss how clouds and DevOps can do the same.
Cloud as an important business asset
Insurance companies in North America are changing how they use clouds and clouds as an important business asset. In Europe, insurers also begin to see the benefits of cloud computing considering the challenges.
On both continents, there are great opportunities for insurance companies to move to the cloud, for example:
- Improved market speed and agility
The cloud transforms the way that companies utilize the technology to innovate.
- Reducing total costs and more specific capex
Reduce major investments in the implementation of your own solutions.
- Accelerating business growth
Companies use the cloud to scale up quickly without huge capital investment.
- Global Expansion
Cloud computing services help insurance companies create a high degree of flexibility and standardization across multiple geographical areas.
- Reduce operating and maintenance costs
Insurance IT spending still stays in many companies. Therefore, many insurance consultants are looking for opportunities that can help them achieve their cost-saving goals.
The use of disruptive technologies such as the cloud increases significant speed among insurance companies. Globally, the following insurtech's cloud-based solutions are operated:
|Trōv||Obtains household insurance with a clever store of customers' possessions via a cloud-powered digital digital cabinet.|
|] CoverWallet||Provides a concierge-like service for small businesses, giving them access to advice, quotes and policy management tools online or over the phone.|
|Cloud Insurance Group||A Microsoft Corporation, cloud-based "route-for-market" solution for insurance product creation and life-cycle product management for all classes of P&C / insurance business.|
|Versicherix||Switzerland's first peer-to-peer insurance platform's technical side is open and allows investors, reinsurance companies and customers to enter the system.|
|FitSense Insurance Services||Working on price risk for insurance over age groups and sex. FitSense uses the fitness tracking feature and its mobile app to collect and collect user activity data.|
|Lemonade||This peer-to-peer insurer, which initially focused on tenants and homeowner insurance, is now pursuing a wider regulatory approval strategy after|
The Value of DevOps for Insurance
DevOps, a leading software development company, gathers businesses, development and operation groups to streamline IT and apply more automated processes. Over the past 10 years, DevOps has enabled the transition in application delivery from large-scale, project-based system implementation and subsequent maintenance to a continuous development of applications.
The possibility of continuously rolling out business opportunities will be the difference between companies that are developing and those who stagnate. By implementing DevOps, our customers deliver faster and have greater business opportunity. The four most important benefits of DevOps are:
- Faster market speed
Reduce time to market by up to 50 percent by streamlining software.
- Increased capacity
Improve team productivity and deliver new functionality faster. 19659011] Lower risk through automated quality and another mindset
Identify quality issues early on through automated scans and a "you build it, you own it" idea and reduce the life-cycle defects by up to 30 percent.
- Enhanced Security
The Value of DevOps Conversion for our Customers: Case Studies
Through a program to industrialize delivery, a European dealer
saved over $ 300,000 in building and installation efforts, as well as $ 1 million in test efforts. Accenture's DevOps services provided tool design, support, automated environmental engineering and ongoing environmental support to deliver new applications in a multi-production multi-release environment project. We helped to industrialize delivery from the beginning with continuous integration, automatic test environment creation, automated testing and automated quality ports.
An Asian telecommunications company created a new delivery model for development of Siebel, Java and TIBCO based on agile and DevOp principles. Life cycle automation, organizational and process changes, significantly reduced effort, and led to faster application market release.
Are you ready to use advanced technology to increase your business? In the next post, I answer the question in my first post-how can you increase your return on investment in intelligent technology? Until then, contact me here to read more, or read the following research material: