7 Questions Every P&C Insurer Should Ask Before Investing in Cloud Software
P&C Insurers Are at a Crossroads
Property & Casualty (P&C) and general insurers know that modernizing on the cloud is vital to their growth in an increasingly complex business and risk environment. A recent study by Capgemini showed that over 80 percent of P&C companies are using cloud infrastructure. Yet, many still struggle to fully reap its rewards.
One of the key barriers is that operating on the cloud does not necessarily eliminate management burden. If insurers simply migrate or ‘lift and shift’ existing applications and IT infrastructure to the cloud, they still need to invest dedicated staff, resources, and expertise to handle maintenance, upgrades, and ongoing management—just as they would on-premises. This is a costly endeavor that adds complexity for many resource-constrained teams, hampering the insurers’ ability to adopt AI and other transformative technologies.