December 12, 2024

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3 Key Aspects of Successful Cloud Initiatives in Insurance

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Philip Zachariah, VP of Enterprise Technology at ValueMomentum

A lot of the carriers today they have already undergone some sort of a cloud journey. They at different maturity stages that’s there but more and more what we see today is more of how they drive value out of moving to the cloud.

To ensure success with cloud initiatives I think there are few really critical important points.

One is how easy it is for your consumer to consume those services. So in context to when a developer team wants a particular service — do you have a self-service capability within your organization or within your cloud services that they can just consume or is it a tedious task that they have to raise a request and it takes four to five days for them to adopt it.

The second one is the cost — how well have you optimized the environments for your non-production and your production. One of the critical things that I see today is when they start they have multiple clusters spun out. Each of those clusters might just use 20%. So is there a way that they can consolidate it and optimize the whole thing.

The third one would be governance because things start small but the more you think about automating it, the more you have governance baked into your automation, the better off you are where you set certain guiding principles, certain standards even before they can actually achieve something.

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