Why insurers like Primerica are turning to the cloud to get closer to customers paid IBM
Insurers are looking to modernize their businesses—and fast. They recognize digitization has upended traditional business models and placed more information and decision-making power in the hands of insurance buyers. This has opened the door to “tech-first” companies—in and out of the traditional insurance market—that may be able to more aptly meet the needs of digitally-informed customers.
Insurers are looking to the cloud to leverage their own advantages, in risk experience and financial strength. Careful planning is needed to realize the promise of the public cloud in effectively using their extensive data and delivering a modern customer experience. Point solutions, if not part of a modern architectural framework, could add complexity, vulnerability and cost.
By applying a hybrid cloud strategy, insurers are able to better migrate and manage these valuable data workloads, drawing upon the power of the public cloud while maintaining data and workloads wherever they can be best managed and secured. In the public cloud, data can be mined for insights that inform innovative customer-facing services that would not have been thought possible a few years ago.
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