It's been said many times but it bears repeating: Insurance carriers often are late to the party when it comes to adopting new technology. Yet another example of the industry's propensity toward patience can be seen with cloud computing.
Blue Cod Technology's Simon Walker analyzed the cloud issue in a blog post on the sramanamitra.com Web site. He writes:
“There is no doubt that the cloud can deliver value to the insurance sector, so why is adoption so slow? Certainly there are fantastic emerging offerings in the insurance space and traditional players that are migrating to SaaS and cloud-based offerings. However, the vast majority of technology consumed in the insurance market leans toward more traditional stock. With industry influencers focusing so much on the emergence of cloud computing and SaaS over the past five years, it is difficult to understand why the insurance market is still hesitant to adopt.”
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