I can’t answer every question here (though I’d be happy to hear from those interested in knowing more), so for now I’ll outline several reasons why cloud is more sustainable: Questions I commonly hear are: What sustainability benefits could such a move bring? How can we minimise the carbon footprint of our IT operations? And how can we maximise the sustainability benefits resulting from migrating to the cloud? Ĭloud-based computing, also known as green computing, is one way for firms to meet certain ESG goals, as some global players have done by shifting their operations to the cloud.Īlthough clients typically understand the efficiency gains of a move to the cloud, they’re often less certain of the sustainability benefits. Consider this: seven of the world’s leading insurers and reinsurers, including AXA, Allianz and Swiss Re, are setting up the Net Zero Insurance Alliance, which will launch later this year to support the transition to a net-zero economy.

Green computingĪs ESG commitments become more pressing, sustainability is an increasing concern for clients – including those in the insurance industry. You can read more about cloud archetypes in my white paper, which looks at why moving to the cloud is imperative for APAC-based insurers, and some ideas on how they can achieve this.įor now, let’s focus on one benefit of the journey to the cloud that is perhaps less apparent: how it can help insurers to meet their environmental, social and governance (ESG) commitments. Key benefits include improving the firm’s market position and significant increases in customer numbers and customer retention. Here, industry-led business reinvention is a common archetype, with clients using the cloud as a catalyst to generate new, data-driven, innovative business and revenue models, and to execute a wise pivot from legacy insurance distribution for sales and servicing. Grow & Innovate involves reinventing business outcomes.Key benefits of creating a cloud-based IT stack that offers intelligent operations and that uses maximum levels of automation include solving skills-availability issues and cutting the high costs of running outdated IT. Commonly, clients need to revamp their core administration platforms – their data centres and infrastructure – and rationalise, modernise and transform their applications. Accelerate is about building a modern IT stack for agility.Key benefits include cost savings of up to 40 percent (if facilities are consolidated or closed). A typical archetype here is the need to move applications and infrastructure fast and securely to the cloud. Migrate brings cost benefits and resilience.These archetypes fall into three categories: Migrate, Accelerate, and Grow & Innovate in the Cloud (MAGIC). Most revolve around the need for greater speed and to create greater value, though the actual mix varies depending on each client’s circumstances. There are several triggers – or what we call cloud archetypes – that typically push clients to move to the cloud. Faster, cheaper, greener: Why cloud is right for APAC insurers.From obstacle to opportunity: Overcoming barriers to the cloud.Silver linings: Cloud migration for APAC insurers.

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