Cloud computing in insurance is inevitable.
Executive SummaryIn this opinion piece, Instec's Kevin Mason highlights cloud advantages for insurers, including speed-to-market benefits and cost-reduction potential. He believes the "utility computing" model that characterizes cloud will soon become not just an option but a natural part of how carriers consume technology and manage their businesses.
There are many projections about the growth of cloud computing services revenue that support this, but the best predictor of the inevitability of cloud is what you can see with your own eyes and what you use in your daily lives.
When was the last time you bought actual, packaged software from a brick-and-mortar store versus downloading it from the cloud—or using a cloud-based service rather than installing software at all? How often are you sharing and storing files using cloud-based drop boxes? Are you backing up your data to the cloud?