Quantum Computing to Usher in Fundamental Technology Change

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Novarica report suggests that while changes won’t be immediate, insurers should incorporate quantum into their five-year plans

Boston, MA (Jan. 25, 2018) – The technology of today is still limited by barriers imposed by classic binary computing. Quantum computing will bring about a change in technology that will impact the fundamentals underlying data usage and protection, risk modeling, and the very nature of insurance core systems. In a new report, Quantum Computing and Insurance: Overview and Potential Players, research and advisory firm Novarica provides an overview of the definitions of quantum, potential areas of impact, and current players in the space.

“With recent breakthroughs, quantum computing’s operationalization is close,” says Mitch Wein, Vice President of Research and Consulting, and co-author of the new report. “Quantum will usher in a technology change; independent of consumer adoption rates, the insurance industry will have to adopt it. Novarica expects this technology to substantially impact the insurance industry between 2023 and 2030.”

The full report is available online from Novarica.

About Novarica

Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.

SOURCE: Novarica

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