Cloud Based Solutions Can Help Insurers Mitigate the Effects of Pandemic Outbreaks
The recent global virus outbreak has been getting a lot of
attention from businesses. The insurance industry, many banks and other many
financial firms have been affected. The companies’ customers will want to know
that their solutions also work during a crisis event.
The widespread effects of the coronavirus are an important
reminder about the vulnerability
behind any system and how unpredictable threats can affect them. Crises
such as natural disasters and terrorism can weaken unprepared businesses
without adequate business continuity policies in place.
Insurers that have on-premise, legacy systems or data centers
will find it harder to deal with challenges of this unprecedented pandemic due
to their dated infrastructure. This is in contrast to insurers with a
cloud-based, managed services approach who may have the opportunity to prevent
the epidemic from spreading further. Employees may no longer be on site if they
need to adhere to the organisation’s remote working policy. If there are key
individuals on staff that are integral to the management of legacy insurance
systems, then they may need assistance in getting their tasks completed.
Decades ago, businesses used one of two solutions for
business continuity: they might have had backup facilities or they might have
covered one of their bases with a secondary solution. These were costly and not
scalable. With the internet becoming faster & more reliable all the time,
insurers can focus on building their business & not worry about physical
infrastructure.
To make sure your business keeps running smoothly, you need
to think about key functions and important capabilities. These are useful both
in day-to-day operations and in more volatile instances. The cloud can be a
great risk management tool, as it can store critical files without relying on
specific hardware. The cloud is distributed across many different
communications hubs. By choosing managed
cloud services, you also benefit from reduced IT geographical exposure;
this could be beneficial for your business.
A distributed, cloud-based solution that is used by
employees, customers and partners via web browsers or mobile applications
(software as a service, or SaaS) is the most resilient option for large-scale
business-critical processes. Outsourcing & offshoring can sound risky in
the wake of in-house servers. However, the cloud’s technology is now advanced
enough to provide
better security than in-house servers. Cloud-hosted solutions are highly
reliable and much better than using external servers. With the expertise of our
gifted technicians, we’re bringing together cutting-edge technology with good
practice.
Investing in cloud-based services can be a wise choice for
your company, as it will help you to save time and money on infrastructure
issues. With these new tools there’s no need for expensive IT infrastructures
or permanent software licenses. A managed services approach usually provides
more flexibility and options for insurers to respond quickly when demand
increases. This is what many business owners are choosing because they want the
freedom to rely on company-owned services less. One example of where this can
come in handy is with a coronavirus outbreak, since it’s not wise to rely too
heavily on local resources.
Want to know which cloud insurance-based solutions will work best for your institution? Contact us so we can help you create a plan that matches your budget and can work with your existing infrastructure.
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