Cloud computing is a growing reality for insurers, powered by highly global and scalable infrastructure, plus capable business solutions from proven providers. Today, I’ll talk about ways that insurers can take advantage of the cloud.
Cloud computing: Taking advantage of the cloud
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Cloud services share several characteristics:
- Little or no requirement for capital investment.
- Variable pay-per-use pricing.
- Rapid acquisition and deployment.
- Lowering ongoing operating costs than traditional in-house IT.
- Programmable and adaptable uses.
Figure 1 shows the four levels of cloud computing:
- Infrastructure clouds are the simplest form of cloud computing, and offer raw infrastructure for memory, storage or networking.
- Platform clouds are slightly more complex, and offer a virtualized development and run-time platform.
- Application clouds, commonly called Software as a Service (SaaS), offer business applications on a subscription basis.
- Business process clouds are the most advanced form of cloud computing, and offer standardized horizontal or vertical business processes.
To learn more, download How Cloud Computing Will Transform Insurance (pdf; opens in a new window).