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Look to the cloud for significant reductions in insurance carrier costs

Cloud underpins all digital changes for insurers to meet future customers’ needs and business objectives.

Accustomed to 24/7 access and virtually nonexistent lag times with retailers, banks and online entertainment, customers bring these same expectations to their insurers. Add to the mix self-driving cars, wearables, Fintechs and advances in analytics capabilities, and insurance companies have the opportunity to reinvent themselves.

As Accenture helps its insurance clients change the way they do business, one common element must exist for successful change: cloud. Cloud underpins all of the digital changes insurers must make to meet their future customer needs and business objectives.

"Without cloud’s capacity and firepower, digital simply does not happen. Nor, without extraordinary measures, does an 80 percent cost saving."