The insurance industry is much more conservative than other sectors when it comes to new technology adoption. So what happens now, with the steamroller known as cloud computing roaring through the technology space? It's a trend that can't be ignored. Accordingly, leading insurance CIOs are very interested in the value cloud can bring to their operations. Some of these views were brought out by Tammy McInturff Appel in the latest issue of LOMA Resource, which convened a panel of five life insurance CIOs.
For example, the Principal Financial Group is taking a more cautious approach to cloud, reports Doug Fick, VP and CIO of US Insurance Solutions. For starters, “I will continue to put preference of our own data center facilities over any third party” for hosting applications, he says. However, some software-as-a-service (SaaS) approaches are attractive to the company. “In a few cases, we have found it advantageous to pursue SaaS solutions over traditional, internally hosted options,” he says.
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