One of the trends affecting the insurance industry and the formation of new businesses is cloud storage. More and more insurance company systems are shifting to the cloud, which enables insurers to be nimbler in their approach to customer service and launch new products. A company entering the industry at this time can use cloud storage to develop exponentially and quickly establish a foothold in the insurance ecosystem. (Credit: wavebreakmedia/Shutterstock.com) One of the trends affecting the insurance industry and the formation of new businesses is cloud storage. More and more insurance company systems are shifting to the cloud, which enables insurers to be nimbler in their approach to customer service and launch new products. A company entering the industry at this time can use cloud storage to develop exponentially and quickly establish a foothold in the insurance ecosystem. (Credit: wavebreakmedia/Shutterstock.com)

While many industries experienced a drop in new business growth in 2021, the insurance sector experienced significant improvement. According to the annual State of Swyft Industry Report, after ranking 18th in growth in 2020, the insurance industry saw a 24.37% increase in year-over-year applications.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Technology Implementation