On the AWS re: Invent Conference A number of weeks in the past, Accenture had the nice fortune to share a breakout session with our consumer, Guardian Life Insurance coverage Firm. As they described their enterprise technique to enhance top- and bottom-line progress, one thing struck me: all of it flowed straight from their cloud technique. Every part they described made good enterprise sense, however one factor stood out. Flexibility.
Flexibility is a necessity for insurers at the moment. Know-how and market necessities are altering so shortly that there’s hardly any time to decelerate. It is nearly like altering the tires whereas the automotive remains to be shifting. However corporations which might be versatile sufficient to vary route when needed – even when the tires are modified – could have a definite benefit. Guardian did simply that when it adopted the cloud for its core insurance coverage programs. It leveraged cloud flexibility with a configurable, no-code coverage administration system. By adopting these two applied sciences concurrently, Guardian accelerated their product improvement and decreased their working prices.
Guardian shouldn’t be alone in adopting the cloud for his or her core insurance coverage programs. We’re seeing a rising demand for cloud providers amongst life insurance coverage and annuity service suppliers. Like Guardian, they’re in search of versatile cloud pricing and internet hosting choices that may maximize the cloud’s advantages for his or her particular person enterprise wants. For some insurers, this will likely imply operating their very own cloud; for others, internet hosting may make extra sense. Regardless, the life insurers we work with discover that cloud presents improved service and safety, together with decreased working prices.
Extra importantly, cloud empowers life insurers to drive enterprise progress by higher assembly their clients’ wants. This allows them to create new and differentiated services and products which might be particularly tailor-made to their clients’ particular person circumstances. Cloud additionally allows a seamless omnichannel expertise for purchasers to entry these new services and products. It is a cloud technique that each life insurer can profit from.
Whether or not you propose to work within the cloud or are already there, I invite you to learn this weblog submit A cloud transformation at Guardian Life. It explains Guardian’s cloud strategy and describes how they develop merchandise quicker by the Accenture Life Insurance & Annuity Platform (ALIP) runs on AWS.
I’m completely happy to reply your questions or talk about how we are able to advance your digital insurance coverage cloud technique.
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Disclaimer: This content material is offered for normal data functions and isn’t meant for use instead of session with our skilled advisors.
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