Gartner Research

Life Insurance CIOs Need to Address Complexity and Costs as Part of Their Cloud Computing Strategy

Published: 27 October 2016

ID: G00313398

Analyst(s): Juergen Weiss , Richard Natale

Summary

Half of life insurance CIOs consider cloud computing a viable option for core insurance systems. A premature move to cloud deployments jeopardizes the business value of core systems. To ensure success, life insurance CIOs need to revise their cloud strategies and prepare to serve as cloud brokers.

Table Of Contents
  • Impacts

Analysis

Impacts and Recommendations

  • Insurance CIOs will be forced to dramatically reduce the complexity of their current IT and business landscape to successfully implement a core insurance cloud computing strategy
  • The complexity of cloud computing implementations for core and noncore insurance systems will require life insurance CIOs to define a sophisticated enterprise cloud strategy that forces them into the role of cloud broker
  • Nontransparent cloud pricing models will lead to more cloud implementations that are considered failures and will require insurance CIOs to develop business-driven, multiyear TCO calculation models

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