While cloud computing has been in the public consciousness for a few years, the insurance industry, with characteristic caution, continues to steadily advance onto this latest platform. However, tentative steps taken a year or so ago are now accelerating into bolder moves, as insurers recognize the value and competitive advantage cloud services deliver. “In a few years’ time we believe that cloud will simply become the way things are done,” states a report from Accenture. “Those insurers that move more quickly to embrace it will gain a competitive lead that others may struggle to match.”

Insurance companies already immersed in the cloud agree with this assessment, citing a variety of benefits they are already seeing. “Cloud is a big advantage for us,” says Marianne Petillo, president and CEO at ROM Reinsurance. “When you move to the cloud, you don’t have to worry about upgrades or maintenance; that’s all done for you.”

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