Market Research Report
Cloud Computing in Insurance - Thematic Research
|Published by||GlobalData||Product code||951724|
|Published||Content info||27 Pages
Delivery time: 1-2 business days
|Cloud Computing in Insurance - Thematic Research|
|Published: July 15, 2020||Content info: 27 Pages||
This report provides in-depth analysis of the use of cloud in the insurance industry. It looks at use cases and how the technology can help overcome the challenges faced by insurers. It provides a thorough overview of the market along with analysis of how the development of cloud technology will impact the insurance value chain.
The rise of insurtech - the digitalization of insurance - is posing a huge threat to incumbents. They are being disrupted by digital-savvy start-ups, such as Lemonade, which use digital tools to offer a more personalized and cheaper insurance experience. Combined with a general lack of trust in insurers, consumers are increasingly switching to digital-native insurers. Traditional firms risk further falling profitability if they fail to digitally transform. Insurance firms also face increasing cybersecurity risks due to the sensitive customer information that they control, and increasing regulatory scrutiny of the storage and use of this information.