Cloud computing

According to Capgemini's World Life Insurance Report 2026, 76% of customers expect advanced cloud and data capabilities but only 16% of insurers are capable of delivering.

Digital transformation is streamlining operations and enhancing customer experiences.

Tech isn't a replacement for strategy or a substitute for process design. And it won't deliver results without the right people behind it.

The real challenge isn't in which technologies to adopt, but in identifying how to extract the most value from investments.

A byproduct of insurance modernization is the creation of increasingly complex tech stacks and application integration.

Now in his second year with GNY (Greater New York Mutual) Insurance Companies, CIO Vasudevan Veeraraghavan is leading a digital transformation of the insurer's data management to support decision making.

Consent and preference management systems, catching on with insurance carriers to leverage customer data for marketing, have the potential to balance that with privacy regulation compliance, according to a Madison Advisors report.

Google's cloud clients will be able to access Meta's Llama 2 large language model, as well as AI startup Anthropic's Claude 2 chatbot, to customize with enterprise data for their own apps and services.

It can eliminate geographical barriers and allow teams to access and share data more freely.

Analytics and agent-to-broker communications are becoming more popular applications for cloud data management. Marketing and automation applications haven't yet reached that kind of critical mass. Google and Amazon discuss their cloud services approaches.

Roots Automation, Cowbell Insurance and Capitola are among the younger companies that have started using GPT technologies.

The Connecticut insurer has banned employees from using OpenAI's public ChatGPT system, but its chief information officer's team is experimenting with at least three use cases for large language models internally, and she has much more on her tech roadmap.

Deloitte announced the launch of GreenLight Solution, an enterprise decarbonization Software as a Service (SaaS) solution.

Also: News from Progressive, Sentry Insurance, Millennial Specialty and more

Evidence of the cloud's inherent strengths accumulate as its perceived drawbacks and limitations wane.

Talkdesk survey of customer experience professionals points out stumbling blocks to AI implementation

Cloud 2.0 tech may ease the difficulties through accelerated and improved digital processes.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.

Celent finds the two most important corporate goals impacting 2021 tech plans are growth and process optimization.