Digital Insurance - - STRATEGIES -

Are cloud plat­forms ma­ture and re­li­able enough to host PAS sys­tems? If so, what are the ben­e­fits of sin­gle-ten­ant ver­sus mul­ti­tenant im­ple­men­ta­tions?

Yes, cloud and SaaS en­able the most al­wayson, fast, sta­ble and scal­able en­vi­ron­ment that’s re­quired of mod­ern pol­icy ad­min­is­tra­tion sys­tems. SaaS is still one of the more per­plex­ing con­cepts for in­sur­ers, be­cause it’s of­ten equated with multi-ten­ant, when in fact there are dif­fer­ent lev­els of multi-te­nancy. With the right plat­form, you can get the bene ts of both. With sin­gle ten­ant, in­sur­ers have more con­trol over up­grade tim­ing and con gu­ra­tion as well as higher lev­els of com­fort around se­cu­rity and pri­vacy, im­por­tant when work­ing with cus­tomer data. Multi-ten­ant makes the most sense with in­fra­struc­ture, where you bene t from auto scale and lower equip­ment costs.

What are some of the ben­e­fits of us­ing prod­uct con­fig­u­ra­tors? In terms of chal­lenges, how should in­sur­ers gear up for this ca­pa­bil­ity?

In­sur­ers are be­ing forced to im­prove speed to mar­ket for changes and prod­uct roll­outs. Re­cently, ev­ery­one wanted a tool that could be used by the busi­ness. Soft­ware providers an­swered the call. The bot­tle­neck that once lived in IT, has now shifted to the busi­ness side, in de ning needs and test­ing changes. In­sur­ers need to adapt. There needs to be a some­what tech­ni­cal pro­fes­sional layer – in be­tween the con gu­ra­tion and the busi­ness – to trans­late the needs of each group into ap­pro­pri­ate func­tion­al­ity. They’ll also need to in­crease their level of au­to­mated test­ing to keep up. You can still con gure wrong. Mak­ing changes fast re­quires fast test­ing.

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