With more than 70% of insurers now using at least some cloud computing, adoption challenges include financial shifts, organizational changes
Boston, MA (Oct. 16, 2018) – Two years ago, fewer than 20% of insurers used any cloud computing. Today, over 70% of insurers use some cloud and 10% run most of their infrastructure on cloud. This rapid growth disguises the fact a transition to cloud is no simple task-it can impact a company’s financials, technology architecture, and staff in several ways.
In a new executive brief, Cloud Migration Strategy: Key Issues and Best Practices, research and advisory firm Novarica explores approaches for insurers as they plan to migrate their infrastructure and applications to the cloud.
“Like any new technology, there are challenges with cloud migration,” said Jeff Goldberg, SVP of Research and Consulting, lead author of Novarica’s new report. “Carriers should plan for a hybrid approach; adopting cloud will require rethinking finances, modernizing and automating their approach to architecture, and preparing for the changes that will impact the enterprise’s people.”
A preview of the brief is available online.
Insurers recognize the benefits of cloud adoption: elasticity, increased stability, and rapid deployments. However, the transition to cloud also changes an organization’s daily business and impacts its finances, architecture, and staff.
Many insurers acknowledge that cloud migration is not immediate. Carriers will likely support a hybrid approach as they prepare their operations and business for a cloud-enabled future.
This brief explores approaches and best practices for insurers looking to migrate their infrastructure and applications to the cloud.
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: NovaricaTags: Cloud, data migration, Novarica