10-Point Checklist for Insurance Cloud Success
April 27, 2016 4:22 AM
Despite early trepidation by the industry around putting core systems in the cloud, 85% of insurers who have launched SaaS-based core applications say its been a net positive. Thats according to the Cloud/SaaS in Insurance Core Applications research released this week by insurance technology analyst firm Novarica. Report authors Chuck Ruzicka and Tom Benton outline a 10-point checklist to ensure that if your insurance company goes down this path, you enjoy success as well.
Evaluate the current capabilities of your IT infrastructure and application portfolio.
Develop a roadmap with priorities for SaaS/cloud deployment.
Establish clear governance that considers key stakeholders for cloud deployments.
Develop metrics for vendor performance and for measuring success in meeting cost and other deployment goals.
Adopt vendor management practices to monitor SLA performance and define responsibilities.
Provide active project management to keep implementation on time and on budget.
Plan for ongoing support, acquiring or training resources for the necessary skills, and address skills gaps.
Regularly evaluate vendor performance and goals/metrics to ensure they are being met.
Audit compliance with security and other standards and practices and privacy policies.
Ask vendors to provide specific data and experience with cloud-to-cloud integration and performance.