Cloud applications and computing are becoming increasingly important in many industries, including the insurance industry. Digital Insurance brought this topic to our attention in their article, “Better together: Integrating 5G and Edge to enable next-gen insurance experiences.”
At a fundamental level, cloud computing can enable insurers to reuse IT resources more efficiently whether these are purchased up-front or rented without any long-term commitment. However, cloud computing involves much more than simply renting servers and storage on-demand to reduce infrastructure costs. The integration of edge computing and 5G can improve efficiency and customer experience for competitive differentiation.
The capabilities of cloud have implications across an insurer’s business. Its scope extends upwards and outwards to cloud-based platforms, applications and business processes, opening up new opportunities in terms of how insurers create and deliver products and services, reach and interact with customers, collaborate with partners, manage their value chains and generate revenues.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.