New Normal: The Catalyst for Cloud Adoption

2020 was the year of upheaval, disruption and powerful transformation, where the COVID-19 pandemic became a catalyst for cloud adoption. While SMA reported that 84% of new core systems were deployed in the cloud in 2019, the pandemic forced insurers to evaluate their current infrastructure for the flexibility, agility and security required to support remote working and to continue to best serve customers.

As the pandemic subsides, a new normal is emerging, changing the face of the insurance industry. Cloud is a fundamental requirement in this digital world and insurers are looking to technology enhancements to position themselves competitively to meet the changing needs of society, including tech-savvy customers and the modern workforce. In today’s world, customers expect unique, on-demand digital experiences that on-premise solutions simply can’t deliver.

With 64% of employees now having the option to work remotely, according to Gartner, the demand for digital technology has never been higher and insurance companies are reviewing policies, tools and approved machines to better mitigate risks. With 91% of new core systems now being deployed in the cloud, according to SMA’s newest research, insurers are accelerating previous timelines of moving to the cloud. The security, scalability and reliability of core systems built on cloud-based platforms are being evaluated to ensure these systems are flexible enough to meet ever-changing market needs.

Today, Cloud is the choice.

This webinar will discuss the perceived barriers to cloud adoption, how to overcome these barriers, the benefits of cloud and why digital transformation of insurers requires a cloud platform today and for the future.

Ravi Krishnan – SVP & CTO, Majesco
Melis Carroll – VP, Product Marketing, Majesco
Jonathan M. Silverman – Industry Solutions Executive, US FSI Insurance, Microsoft