Insurance industry trends 2015 and beyond: #3 Cloud Computing
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Cloud computing in insurance: - A few things about cloud - What the big guys say about cloud - Cloud benefits - Cloud Computing across insurance value chain - Deploying cloud computing in insurance - Cloud workloads functions - Cloud concerns - Specific use cases
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Insurance industry trends 2015 and beyond: #3 Cloud Computing
- 1. INSURANCE INDUSTRY TRENDS #3 CLOUD COMPUTING
- 2. 1. Big data & analytics 2. Mobility 3. Cloud computing 4. Telematics/IoT What’s hot in insurance
- 3. A few things about cloud What the big guys say about cloud Cloud benefits Cloud Computing across insurance value chain Deploying cloud computing in insurance Cloud workloads functions Cloud concerns Specific use cases Cloud computing in insurance
- 4. A few things about the cloud Rapid deployment Variable cost, price per use model Lower ongoing operating costs than IT owned and managed in-house Cloud enables insurers to reuse IT resources more efficiently, extending into the complete business infrastructure Limited or no CAPEX Highly adaptable and scalable Best option in peak moments Cloud changes the way insurers create and deliver products and services, reach and interact with customers, collaborate with partners, manage their value chains, assess and manage risk, and generate revenues. “Cloud computing is part of our growth strategy. It could materially change how we develop applications and apply technology to business, especially when it comes to cost structure, investment and agility...Cloud computing is not just an external service, it is also internal. We are looking at evolving a hybrid model and developing our own internal cloud computing capabilities”. Vincent Cohan, SVP & Chief Technology Officer and Sauro Nicli, Global Information Officer, AXA
- 5. Cloud in Insurance Facts Lower-cost and/or higher- efficiency Capture real-time intelligence about an accident situation through mobile devices and mobile applications Customer centricity through unified customer data Sales enablement - place email and whiteboard applications in the cloud so sales agents, employees, field representatives and developers can collaborate in real time, regardless of the device they use Provision and scale computing resources to meet periodic demand for actuarial and financial workloads. Support agent management, including sales document Support critical functions such as billing and underwriting Enables a service oriented business models and applications that give access to new customers and markets & increase customer loyalty and retention Support for the integration with third parties/agency systems Preserve data for audits ING is very keen to deploy cloud computing technology — essentially the separation of applications from the underlying infrastructure — and to get to a point where technology is a service easily, efficiently and effectively provided to the company, regardless of location. In order to persuade the business that virtualization and cloud computing is the way forward, we have had to focus strongly on the business benefits — scalability, flexibility and cost” Tony Kerrison, Head of Infrastructure Services, ING N.V.
- 6. Cloud computing across insurance value chain Source: Capgemini Analysis
- 7. Cloud computing opportunities for insurers Source: Accenture BPO offerings from various vendors Various solutions from vendors SAP ERP Oracle Apps MS Office/ Exchange Windows/.NET Linux/Solaris J2EE Buying hardware Salesforce.com Workday Oracle on Demand Google Apps Microsoft Dynamics CRM Force.com Windows Azure Google Apps Engine Buying computing time Amazon EC2 vCloud IMB Blue Cloud Traditional solutions Cloud solutions
- 8. Deploying Cloud computing across insurance value chain Insurers use a mix of cloud services delivery models based on price, risk and standardization Source: Capgemini Analysis
- 9. Cloud Workloads Characteristics for insurers Workload/functions Business Processes as a Service Software as a Service Infrastructure as a Services Private Infrastructure as a Service Development & testing Information sensitive Mission critical Collaboration High data volume & analytics High compute volume & analytics Relatively disconnected functions Suitable Average Bad
- 10. Cloud concerns Security Interoperability of analytics Data governance - quality control discipline for assessing, managing, using, improving, monitoring, maintaining and protecting your organizational information Application integration Reliability Data aggregation and integration - The information needed for analytics is often stored in multiple databases within your enterprise, on the cloud and in different geographic locations.
- 11. How insurers use the cloud? Windows Azure Disaster Protection - Generali US Branch wanted better disaster protection for its business due to local weather extremes. The insurance provider is using Microsoft Azure Site Recovery to replicate its virtual servers and data to the cloud, eliminating disaster-caused interruption, reducing disaster recovery (DR) costs by 65%, and can easily test its DR setup. Windows Azure Disaster recovery - Microsoft Azure StorSimple helps them meet compliance requirements of keeping one set of data backup image offshore at a low cost. The solution integrates SAN storage on-premise with automated data protection in the cloud, while enabling geo-replication of data both locally and from Microsoft’s datacenters overseas. Windows Azure High performance - Milliman uses Windows Azure to distribute highly complex, mission- critical computing tasks across cloud-based resources. The result is supercomputer-level processing capability that is enormously scalable and powerful, yet can be delivered at a lower cost and with fewer IT resources than through traditional on-premises IT deployments. Amazon WS Traffic spikes support - The company built its health insurance platform and analytics solution on AWS in just three months. By using AWS, the company can scale to support the traffic spikes of open enrollment season as well as support more than 125 production changes a day that continually improve customer experience. Amazon WS Cost control - In an effort to control its IT costs, the company turned to AWS as part of a hybrid computing environment, using the AWS cloud in combination with data centers in California and Nebraska to run actuarial tasks that are used to set pricing and create new products. Using AWS, Pacific Life can quickly scale up additional compute capacity with less cost and IT overhead than by adding to its own data center assets, while benefitting from built-in security features in AWS products that help Pacific Life with compliance issues.
- 13. • Broad experience in delivering complex services and solutions that integrate sales, marketing, customer service and other processes to large insurers and brokers • We have developed and successfully deployed a complete insurance solution, with modular architecture, available on premise & on Cloud, bi-directional integrated with SAP, Microsoft & Oracle Insurance expertise INSURANCE EXPERTISE • Website/intranet development • Self service portals • Online policy selling • Online claims management • Enterprise e-learning and intranets • Employee management & training • operations support systems development and deployment • Mobility: • Mobile apps development, SFA, document management • Big data and BI solutions • CRM/ Sales Force Automation • Business Process Management EITG SOLUTION • Product management • Policy Management • Accounts & intermediaries • Underwriting • Actuarial reports • Billing and collection • Financial Accounting • Reinsurance
- 14. CLOUD EXPERTISE
- 15. EITG Cloud Expertise • Cloud & Virtualized ecosystem configuration & administration • Amazon EC2 cloud based solution deployments, virtual environments provisioning & administration • Most important Windows Azure partner in an Eastern European country with more than 5.000 end-users accessing cloud based web and mobile solutions • Azure Enterprise Agreement (EA) signed with Microsoft in order to offer customers the benefits of cloud outsourced data centers • Multiple migration o the cloud projects for start-ups, SMEs and large multinational corporations • The complexity of the migration projects covered a large array of server clusters: • from several small machines to more than a hundred machines per application • Migrations covered both open-source and proprietary technologies, single cloud and multi-cloud setups, single- region and multi-region setups
- 16. Cloud Decision & Implementation ProcessPHASECONSIDERATIONSEITGSERVICES Initial Thoughts Evaluating Options Committed Implement Optimise Run Platform Vendors Scalability T.C.O./R.O.I. Timescale Considerations Business case Why Cloud? Is it right for me? Is it secure? Business impact? Typical cost? Time to implement? Application review Performance analysis Further Cloud enabled opportunities Benefits realisation Scale Continuous improvement Cost management Vendor management Service delivery Independent advice Analysis & Design Technical Services Support Services Business case approved Cloud platform selected Contract process Implementation planning Project planning Greenfield or Migrate Business Impact Risk Analysis Architecture Testing Rollout
- 17. • Cloud Computing for Insurance, Inside the drive toward new business model, IBM • How cloud computing will transform insurance – Using cloud to help drive future high performance in the insurance industry, Accenture • Sizing the cloud, Forrester Research • The Future of Cloud Computing, Expert Group Report, European Commission • Gartner, “A Quick Look at the cloud in the insurance industry” • Cloud Computing in the Property & Casualty Insurance Industry, Capgemini Resources