Cloud Computing, SaaS, and Technology Outsourcing for Insurers

September 30, 2009


Celent reviews seven key technology outsourcing topics and provides clear definitions and business values with an insurance industry context.

There is a lot of talk in the insurance industry right now about cloud computing. This talk is coming more from vendors and journalists than it is from insurance companies, and this means there is a lot of talk but not as much actual use. This has resulted in confusion, leaving many insurers with more questions than answers.

In a new report, Cloud Computing, SaaS, and Technology Outsourcing for Insurers, Celent examines the following topics: cloud computing, software as a service (SaaS), application service providers and application hosting, colocation and managed hosting, grid and distributed computing, and business process outsourcing. The terms defined and explained in this report are sometimes used interchangeably in the marketplace when they should not be, and sometimes used to represent different things when they are essentially synonyms. This report attempts to sort through the hype so that insurers can make informed and rational decisions about current trends.

“Despite the confusion, there is great value for insurers to be found in different hardware and software outsourcing options, some of which will help to change the industry’s approach to IT,” says Jeff Goldberg, senior analyst with Celent’s Insurance Group and author of the report. This report puts each option in context of the insurance industry, and provides straightforward explanations, values for the business, and examples of how different insurers might utilize them.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

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