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1、Reimagining insuranceThe new cloud imperativeOver the last decade,the insurance industry has moved to action on technology enhancements and cloud services.These moves were initiated by experiences quickly pushed customer expectations beyond what traditional To succeed in this new business climate an

2、d grow revenues,insurers need to reimagine management.That calls for both external,market-facing shifts and internal changes enabled through a cloud-powered strategy for future-ready technology and operations.While cloud adoption strategies may be nuanced depending on the insurers size,market positi

3、on or book of business,the need to migrate to the cloud is near universal.In this report we explore how insurers can reimagine insurance in the cloud.We identify common challenges insurers encounterfrom accelerating the cloud transformation to optimizing a multi-cloud environment.2Reimagining insura

4、nce|The new cloud imperativeElevating the case for cloudElevate the cloud discussion beyond infrastructure and savings on IT run costs.Cloud is a value-based discussion that supports enterprise priorities and drives CEO imperatives:Revenue Insurers who lead in software as a service(SaaS),platform as

5、 a service(PaaS),and adoption of native-cloud applications show higher rates of revenue growth.ii Customers To retain existing customers and attract new ones,insurers must deliver on new demands for cloud-powered digital services that incorporate usage-iii For the insurance industry,cloud has long b

6、een more aspiration than realit.In our Cloud Readiness Survey published in July 2019,only 56%of insurance company executives said they had developed and implemented a new IT operating model to support the transition to the cloud.i In less than a year,amid the disruptions of COVID-19,the lack of read