Chubb has sealed a new deal with IBM that represents a major investment in cloud computing in order to modernize its information technology operations.

The Chubb/IBM announcement involves is a multi-year services agreement to consolidate and integrate Chubb’s IT infrastructure on the IBM Cloud. Financial terms were not disclosed.

Chubb will be using the company’s IBM Cloud offerings for the z Systems mainframe, as well as development and test environments, and also cloud storage for long-term archiving of critical data. The pact will also include security services, IBM said. IBM explained that its Cloud system gives clients the ability to adjust to “faster industry cycles without increased IT investment.”

Kevin Shearan, vice president and Group CIO of Chubb, said in prepared remarks that a modernized IT system is very much part of its long-term plan.

“We’re committed to an IT environment that will enable us to adapt quickly to market changes and deliver an as-a-service model that will enable us to continue to provide clients with the services they deserve,” Shearan said.

Philip Guido, manager of IBM Global Technology Services in North America, said that the deal reflects how important cloud computing is becoming for global companies.

“This agreement demonstrates how global organizations are [using] hybrid cloud environments to quickly integrate business-critical data and applications to achieve their business objectives,” Guido said in prepared remarks.

Sources: IBM/Chubb