Cloud computing has emerged as a pivotal force in slashing
technology debt within the insurance sector, offering companies the capability
to access vital information and applications via the internet, thus moving away
from reliance on physical storage solutions 1. This transformative technology not only
aids in modernizing systems, enhancing data storage, and streamlining software
development but also plays a significant role in reducing operational costs,
improving user experience, and refining business processes 12. Moreover, as of June 2021, an overwhelming
90% of insurance companies have adopted cloud computing for an array of
business functions, underlining its critical impact on the industry 2.
The adoption of cloud computing in the insurance domain
promises not just cost savings by eliminating the weight of legacy systems but
also ensures that insurers can deploy new applications and services
efficiently, tailoring their IT infrastructure to be more flexible and
scalable 1. This flexibility is crucial for
documenting, refactoring, and managing technical debt, allowing for a dynamic
response to changing market demands and customer needs 1. The growth potential is underscored by the
projection of a 21% CAGR for the insurance cloud computing market through to
2026, signaling a continued shift towards cloud-enabled innovation and
operational excellence in tackling technical debt and enhancing overall
technical and business performance 3.
Understanding Tech Debt in the Insurance Sector
Technical debt in the insurance sector is a critical issue
that impacts both IT infrastructure and business operations. It refers to the
costs and complexities that arise from outdated or inadequate IT systems and
practices, which can hinder an organization's ability to adapt and
innovate 19. This problem is exacerbated by sprawling
legacy systems that many insurers rely on, which often become the crux of
technical debt issues 19.
Definition and Implications of Technical Debt
Technical debt accumulates when insurers prioritize
short-term solutions, such as maintaining existing systems, over long-term
innovation 19. This approach can be likened to avoiding
necessary medical check-ups, which, while seemingly beneficial in the short
term, can lead to greater issues down the line 19. The "if it ain't broke, don't fix
it" mentality, prevalent among insurance experts, often leads to a
reluctance to invest in modern solutions, thereby exacerbating technical
debt 19.
The Burden of Legacy Systems
Many insurance companies grapple with large, established
legacy systems that have been integral to their operations for years 19. These systems, while historically
effective, often do not meet current technological standards and contribute
significantly to technical debt by limiting flexibility and innovation 19. The lack of advanced in-house technical
knowledge and a cultural resistance to change further complicate efforts to
address and mitigate these issues 19.
The Impact of Technical Debt
The consequences of technical debt are multifaceted,
affecting various aspects of business operations. It can lead to reduced
employee productivity due to outdated technology that necessitates manual,
repetitive tasks 19. Moreover, reliance on such systems can
expose the company to compliance risks and make it difficult to attract new
talent, as outdated technology can make work tedious and inefficient 19.
Strategies for Mitigation
To effectively manage and reduce technical debt, insurers
must adopt comprehensive mitigation strategies. This includes defining
technical debt clearly within the organization and gaining C-suite support to
address it 6. Maintaining a data council and monitoring
KPI outputs are crucial for understanding the full scope and impact of
technical debt 6. Additionally, listening to end-users and
customers can provide valuable insights into how systems and processes can be
improved to reduce technical debt 6.
By addressing these issues, insurance companies can enhance
operational efficiency, reduce costs, and improve their competitive edge in the
market.
The Role of Cloud Computing in Reducing Tech Debt
Cloud computing has become a cornerstone technology for
insurers looking to reduce technical debt and foster innovation. By adopting
cloud-based solutions, insurance companies can configure their systems flexibly
and integrate open APIs to incorporate necessary tools, which significantly
diminishes the buildup of technical debt 9. This approach not only streamlines
operations but also enhances the adaptability of insurance firms to emerging
technologies like ChatGPT and generative AI 4.
Future-Proof Architecture
The architecture of cloud computing is inherently open and
flexible, which is crucial for insurers aiming to modernize their systems and
keep pace with ongoing technological advancements 5. This future-proof nature of cloud computing
ensures that insurance companies can continually update their systems without
the need for extensive overhauls, thereby keeping technical debt in check.
Economic Impact of Cloud Adoption
The financial implications of adopting cloud computing are
significant. Public cloud services spending, which stood at $313 billion in
2020, is projected to soar to $482 billion by 2022 10. This trend is expected to continue, with
cloud spending accounting for more than 45% of all enterprise IT spending by
2026, up from less than 17% in 2021 10. Such investments reflect the critical role
of cloud technology in reducing operational costs and technical debt in the
insurance sector.
Operational Flexibility and Cost Management
Cloud computing offers unmatched flexibility, which is
particularly beneficial for multiline carriers who need to manage operating
costs effectively and leverage skilled resources 4. This flexibility allows insurance companies
to respond swiftly to changing business needs, which is essential in today's
dynamic market environments.
Enhancing Business Agility
Beyond cost considerations, insurers are increasingly
focusing on the strategic benefits of cloud migration, such as enhanced
business agility and the ability to rapidly deploy innovative products 4. These capabilities provide insurers with a
competitive edge, crucial for survival and success in the modern digital
landscape.
Challenges in Cloud Migration
Despite the advantages, transitioning to the cloud presents
challenges, including concerns over data privacy, integration with existing
legacy systems, employee resistance to change, and regulatory compliance 3. However, overcoming these hurdles is
essential for insurers to fully realize the benefits of cloud computing in
reducing technical debt.
By leveraging cloud technology, insurance companies are not
only able to mitigate technical debt but are also positioning themselves for
future growth and innovation. The strategic use of cloud solutions enables
insurers to decommission legacy systems and migrate core processes to more
efficient and scalable cloud-based platforms 4. This transition is exemplified by a leading
insurer who successfully consolidated decades of product innovation from four
legacy platforms onto a new, modern platform in the cloud within just one
year 4.
Overall, the shift to cloud computing is proving to be a
decisive factor in the insurance industry's ability to manage technical debt
effectively and foster long-term innovation.
Cloud Integration: Enhancing Operational Efficiency
Operational Efficiency Through Cloud Integration
Insurers are increasingly leveraging cloud computing to
enhance operational efficiency, which is crucial in today's competitive market.
By integrating cloud-based solutions, insurance companies automate repetitive
tasks, significantly reducing errors and improving response times 10. This automation streamlines operations and
allows employees to focus on more strategic tasks that add value to the
business.
Scalability and Flexibility
The cloud offers unparalleled scalability and flexibility,
enabling insurers to adjust resources based on fluctuating demands. This
adaptability helps in avoiding the costs associated with over-provisioning,
ensuring that insurers only pay for what they use 10. The ability to scale up or down seamlessly
also means that insurers can respond more quickly to market changes or customer
needs without the constraints of traditional IT infrastructure.
Anywhere, Anytime Access
Cloud computing supports business continuity by enabling
anywhere, anytime access to systems and data 11. This is particularly beneficial in
adapting to changing work environments, such as the increasing need for remote
access in today’s workforce. Enhanced accessibility ensures that business
operations remain uninterrupted, regardless of physical location.
Improved Resiliency and Collaboration
Cloud technology not only improves resiliency by reducing
manual efforts and enhancing processes but also fosters better collaboration
across teams 11. Improved collaboration and streamlined
processes lead to more innovative solutions and a more agile response to
industry challenges.
Infrastructure Agility
Adopting cloud computing modernizes and optimizes legacy
infrastructure, which is often a significant source of technical debt in the
insurance sector 11. This modernization enables faster product
development and quicker time-to-market, essential factors for maintaining
competitiveness in the fast-evolving insurance landscape.
Cost-Effective Solutions
Cloud-based solutions significantly reduce the costs
associated with maintaining physical hardware and data centers. The
pay-as-you-go pricing model of cloud services offers transparency in operating
expenses, helping insurers manage budgets more effectively 11. This cost efficiency is crucial for
reallocating savings to other strategic investments within the organization.
Leveraging Advanced Technologies
The integration of AI, machine learning, and big data with
cloud computing allows insurers to streamline business processes and workflows
significantly 11. These technologies enable the analysis of
vast amounts of data to derive actionable insights, optimize decision-making,
and enhance customer service.
Centralized Data Management
The highly scalable storage capacity of the cloud allows
insurers to consolidate data into a single location, which simplifies
management and enhances security 3. Centralizing disparate data sources also
facilitates advanced analytics, providing insurers with the tools to harness
the power of AI and machine learning for deeper insights and improved risk
management 3.
Streamlining Insurance Systems
Cloud-based systems such as claims processing, policy
management, and customer relationship management (CRM) are revolutionizing how
insurers operate. These systems not only centralize data but also incorporate
automated workflows that speed up processing, enhance data accuracy, and
improve overall service delivery 3.
By embracing cloud integration, insurance companies not only
achieve operational efficiencies but also set the stage for future innovations and
improvements in service delivery. This strategic move not only addresses
current operational challenges but also positions insurers for sustainable
growth and success in a digital-first world.
Security and Compliance in the Cloud
Cloud computing offers a robust framework for addressing the
security and compliance challenges faced by the insurance sector. By leveraging
advanced security protocols and compliance measures, cloud providers ensure
that insurers can operate in a secure and regulatory-compliant
environment 10.
Comprehensive Security Measures
Cloud service providers prioritize security, investing
heavily to safeguard data against unauthorized access and cyber threats. This
includes deploying cutting-edge security technologies and protocols which
provide a secure foundation for insurance operations 810.
Regulatory Compliance Made Easier
The transition to cloud computing facilitates adherence to
stringent industry regulations. Managed cloud solutions are designed to meet
specific regulatory requirements, making it easier for insurance companies to
manage compliance and reduce the risk of penalties 17.
Enhanced Data Protection
Storing sensitive information across distributed cloud
servers not only enhances data security but also improves risk management
practices. These servers are equipped with sophisticated cybersecurity measures
that prevent data loss and unauthorized access 3.
Leveraging Data Analytics for Compliance
Data analytics tools integrated into cloud services can
automate and refine compliance reporting processes. These tools help in
identifying potential risks and ensuring continuous adherence to changing
regulatory standards, thereby improving overall regulatory compliance 1415.
Challenges and Solutions
Despite the benefits, the integration of cloud technology in
the insurance sector comes with its set of challenges. These include data
privacy concerns, the complexity of integrating with legacy systems, and
ensuring consistent regulatory compliance 313. However, by collaborating with reputable
cloud vendors who offer industry-specific expertise and advanced security
investments, insurers can overcome these challenges and achieve a higher
standard of operational security and reliability 16.
By addressing security and compliance holistically, cloud
computing not only strengthens the security posture of insurance companies but
also supports their ongoing digital transformation initiatives. This strategic
approach helps in minimizing technical debt associated with outdated security
practices and non-compliance, positioning insurers for future growth and
innovation in a secure environment.
Benefits of a Unified CRM System
Increased Efficiency and Time Savings
A unified CRM system significantly automates manual tasks,
reducing overhead costs and streamlining processes, which leads to increased
operational efficiency 17.
Improved Customer Experience and Satisfaction
Centralizing policyholder details in a unified CRM system
enhances the accessibility of information for staff and brokers, improving
overall customer service and satisfaction 18.
Data Accessibility and Reliability
With a unified CRM system, data is not only easily
accessible but also reliable, supporting the creation of effective nurture
campaigns to engage customers better 17.
Sales and Marketing Alignment
The implementation of a unified CRM system aligns sales and
marketing efforts more effectively by managing and monitoring leads throughout
the sales cycle, ensuring a cohesive approach to customer interactions 18.
Enhanced Insight from Reporting and Analysis
Unified CRM systems offer detailed reports and analytics,
providing valuable insights that aid in decision-making and foster stronger,
more personal customer relationships 17.
Mobile Accessibility
Modern CRM systems are designed with mobile accessibility,
allowing insurance professionals to access crucial customer information
on-the-go, thereby enhancing responsiveness and service quality 17.
Increased Sales Conversion Rates
By managing and generating custom quotes and leveraging
follow-up reminders with partners, a unified CRM system can substantially
increase sales conversion rates 18.
Ease of Dealing with One Vendor
Dealing with a single CRM vendor simplifies the management
of vendor relationships and makes it easier to address issues and negotiate
terms, reducing administrative burden 17.
Faster Business and Revenue Growth
Improvements in operational efficiency and customer
experience through a unified CRM system contribute to faster business and
revenue growth, supporting scalable and agile business operations 17.
Automation of New Business and Renewals
Unified CRM systems automate the capture of new business
data and streamline the proposal to policy cycle. They also support the
creation of customizable, dynamic renewal lists and alerts before policy
expiry, enhancing operational efficiency 18.
Distributor Management
A unified view of agents and brokers through a CRM system
helps monitor performance and activities more effectively, capturing essential
details like commission at product and policy levels 18.
Marketing Management
CRM systems facilitate effective marketing strategies and
campaigns by enabling the tracking of budgeted versus actual spending and
analyzing campaign response rates, leading to more targeted and successful
marketing efforts 18.
Leveraging Cloud Solutions for Enhanced CRM Capabilities
Cloud solutions like Amazon Web Services, Microsoft Azure,
and Google Cloud enhance CRM capabilities by enabling insurers to quickly
launch new digital customer experiences, deliver personalized products, and
modernize core systems. They also leverage data for better risk identification
and underwriting, and respond swiftly to regulatory changes 10.
Improved Customer Experience with Cloud-Based Tools
Cloud-based CRM tools enhance customer experience by
providing personalized services and faster response times, which are crucial
for maintaining customer satisfaction and loyalty 19.
Data-Driven Customer Acquisition and Personalization
The integration of data analytics within CRM systems aids in
lead generation, centralizing information, and analyzing customer behavior.
This helps in targeting the right customer segments more effectively, thereby
improving acquisition rates and personalization of services 15.
Cost Optimization Through Cloud Technologies
Cloud-based solutions are revolutionizing cost management in
the insurance sector by eliminating the need for expensive hardware and data
centers. The pay-as-you-go model ensures that insurers only pay for what they
use, making operating expenses transparent and predictable 11. This shift not only reduces upfront
capital expenditure but also lowers ongoing IT costs, which can be decreased by
up to 30% 19.
Economies of Scale and Operational Flexibility
The scalability of cloud computing allows for efficient
management of resources, adapting quickly to changes in demand. This
flexibility is crucial in providing the necessary computing power for large
data sets and in serving a broader customer base without the need for
significant additional investments 20.
Enhanced Cost Efficiency Through Data Analytics
Data analytics integrated into cloud solutions offer a
powerful tool for identifying and rectifying inefficiencies within business
processes. This capability not only streamlines operations but also enhances
productivity, ultimately leading to significant cost reductions 14.
Strategic Financial Impact
The adoption of cloud computing in the insurance industry is
expected to see a substantial increase, with a projected annual growth rate of
32% in cloud services by 2025. This growth is indicative of the sector's move
towards more cost-effective and flexible business models that align with modern
technological advancements 20.
Reduced Policy Servicing Costs
Implementing cloud technology significantly cuts costs
associated with policy servicing by 25-40%. This reduction is achieved through
more efficient data management and streamlined processes, which are facilitated
by the cloud's robust infrastructure 3.
Leveraging SaaS for Cost Savings
The Software as a Service (SaaS) model further drives cost
efficiency by eliminating the need for insurers to invest in physical
infrastructure and maintenance. This model not only reduces the total cost of
ownership but also shifts the responsibility of system upgrades and maintenance
to the cloud service provider, allowing insurers to focus more on innovation
and core business activities 16.
Global Market Growth
The insurance cloud computing market is on a rapid growth
trajectory, projected to reach a global market size of $90 billion by 2026.
This growth is supported by the increasing recognition of the cost benefits and
operational efficiencies provided by cloud technologies 3.
By embracing these cloud-driven strategies, insurance
companies can achieve significant cost savings while enhancing their
operational agility and capacity for innovation. This strategic shift not only
addresses immediate financial pressures but also sets the stage for sustained
growth and competitiveness in a rapidly evolving industry.
Leveraging Data Analytics for Customer Insights
Harnessing Data for Predictive Analytics and Risk
Assessment
Cloud technology significantly enhances the insurance
sector's ability to utilize large data sets for accurate risk assessment and
predictive analytics, fundamentally transforming underwriting and policy
pricing practices 10. By leveraging scalable cloud storage,
insurers can implement advanced analytics and machine learning to derive
actionable insights that inform more strategic decision-making 3.
Enhancing Customer Interaction with Digital Tools
The integration of cloud-enabled digital tools revolutionizes
how customers interact with insurance services, providing a platform for 24/7
engagement across multiple channels. This capability allows customers to easily
access services such as policy reviews, claims filing, and payments, enhancing
convenience and satisfaction 3.
Driving Sales Through Behavioral Insights
Data analytics has become indispensable in understanding
customer behaviors, enabling insurers to tailor their marketing strategies and
product offerings. This deeper insight allows for effective predictive modeling
and the personalization of products, which are key factors in driving sales and
improving customer retention 14.
Operational Transformations in Claims and Risk Management
Utilizing data analytics for claim prediction and risk assessment
helps insurers streamline operations by accurately forecasting claim
occurrences and assessing risks based on historical data 14. This not only improves the efficiency of
the claims process but also aids in pricing optimization, ensuring competitive
yet profitable policy pricing 14.
Fraud Detection and Prevention Strategies
A critical application of data analytics lies in its ability
to detect and prevent fraud. By analyzing patterns and spotting discrepancies
that deviate from the norm, insurers can significantly reduce financial losses
and enhance the integrity of claims processing 14.
Customer Retention and Acquisition
Data-driven strategies are proven to enhance customer
acquisition and retention. Insurers are able to craft personalized experiences
and offers, increasing customer loyalty and satisfaction. Moreover, detailed
analytics facilitate effective cross-selling and upselling by leveraging
comprehensive customer profiles 14.
Innovation and Product Development
Through the insights gained from data analytics, insurance
companies can innovate and develop new products and services that meet evolving
customer needs. This not only fosters business growth but also ensures that
companies remain competitive in a fast-changing industry 14.
Streamlining Claims Processing
The application of data analytics in claims processing leads
to faster resolution times, reduced costs, and higher customer satisfaction by
automating and optimizing various steps in the claims lifecycle 15.
These strategic applications of data analytics not only
enhance operational efficiencies but also play a pivotal role in transforming
customer relations and driving business growth in the insurance sector.
Innovating Insurance Products with Cloud Capabilities
Cloud flexibility is revolutionizing the insurance sector by
enabling the rapid development, testing, and launching of innovative insurance
products. This agility allows insurers to respond effectively to evolving
business needs and customer demands, significantly enhancing service delivery
and market reach 4.
Expanding Market Reach with Innovative Products
The inherent flexibility of cloud computing has catalyzed
the launch of groundbreaking insurance products through novel distribution
channels. This expansion not only broadens insurers' market presence but also
introduces more tailored insurance solutions to meet diverse customer
needs 4.
Building on Future-Proof Architectures
Insurers are increasingly adopting future-proof
architectures within their cloud strategies, including open APIs and low-code
systems. These technologies integrate seamlessly into broader tech ecosystems,
allowing for greater innovation and agility in product development 9.
Leveraging Ready-Made Building Blocks
Cloud platforms offer essential building blocks that
simplify the creation and maintenance of applications. This support enables
insurance teams to focus more on innovation rather than on the complexities of
backend infrastructures, thereby accelerating product development cycles 5.
Enhancing Customer Experience through Digital Innovation
Cloud technologies foster enhanced digital experiences that
significantly boost customer satisfaction and loyalty. By implementing cloud
solutions, insurers can offer more personalized and efficient services, setting
new standards in customer engagement 11.
Integrating Blockchain for Transparency and Efficiency
The integration of blockchain with cloud platforms is set to
transform insurance processes by enhancing transparency and speeding up claim
settlements. This technology not only streamlines operations but also builds
trust through verifiable and secure transactions 1.
Major Cloud Adoption and Transformation
A significant 78% of insurance companies have integrated
cloud technology to some extent, demonstrating the widespread recognition of
its benefits for operational efficiency and customer interaction 12. Companies like Lemonade and Allstate
exemplify this shift, having utilized cloud computing to enhance claim
processing, personalize service recommendations, and improve risk
assessment 12.
Unlocking New Capabilities
Effective utilization of cloud technology enables insurance
companies to provide omnichannel experiences, develop integrated services, and
deploy solutions at unprecedented speeds. These capabilities are crucial for
staying competitive in the fast-paced insurance market 20.
Economic Impact of Cloud Innovations
The EBITDA run-rate impact of cloud technology on the
insurance sector is projected to be between $70 billion and $110 billion by
2030. This significant financial impact stems from both rejuvenating
traditional practices and innovating new revenue streams through cloud-enabled
solutions 20.
Accelerating Time to Market
Cloud environments drastically reduce the time required to
develop, test, and launch new business features and products. This faster
time-to-market is essential for insurers to keep pace with industry changes and
consumer expectations 20.
Accessing Advanced Cloud Capabilities
Advanced cloud services provide insurers with capabilities
that previously required extensive resource investments. These include
sophisticated data analytics, machine learning services, and regulatory
information access, which are crucial for enhancing business operations and
customer service 20.
By embracing these cloud capabilities, insurance companies
are not only innovating their product offerings but are also setting a
foundation for sustained growth and competitiveness in the evolving digital
landscape.
Conclusion
Through the strategic adoption of cloud computing, the
insurance sector stands on the brink of a significant transformation, poised to
reduce technological debt while advancing its service delivery and operational
efficiency. The discussions underscore the pivotal role of cloud technologies
in modernizing legacy systems, enhancing security and compliance, optimizing
costs, and leveraging data analytics for deeper customer insights. This
transition not only addresses the pressing challenges associated with technical
debt but also equips insurers with the agility and scalability needed to thrive
in an increasingly digital and competitive marketplace.
Looking ahead, it is evident that the future of insurance
hinges on the sector's ability to continue integrating cloud capabilities into
its core operational strategies. As insurers navigate the complexities of
digital transformation, the emphasis on customer-centric innovation,
operational flexibility, and strategic cost management will be paramount. In
embracing these cloud-driven opportunities, the insurance industry not only
fortifies its position against current technological debts but also lays a
robust foundation for sustained growth and innovation in the face of future
challenges.
FAQs
Q: What role does cloud computing play in the insurance
sector? A: Cloud computing is integral to the insurance industry as it
provides the capability to process and analyze large volumes of data with speed
and precision. This enhances insurers' ability to make informed decisions based
on data for activities such as risk assessment, claims processing, and
improving customer interactions.
Q: What emerging technologies are disrupting the
insurance industry? A: The Internet of Things (IoT) technology is a
significant disruptor in the insurance market. For example, while traditional
auto insurance relied on factors like age, credit score, and accident history,
IoT devices in smartphones or vehicles now allow insurers to directly observe
and assess driver behavior, leading to more accurate risk assessments.
Q: Can you explain what technical debt means in the
context of cloud computing? A: Technical debt refers to the cost of
additional work that arises when an easy, quick-fix solution is chosen over a
more comprehensive but time-consuming one during software development or other
IT projects. This debt includes the future effort required to improve or
correct the limitations of the initial approach.
Q: How is technology transforming the insurance industry? A:
Technology has significantly impacted the insurance industry by streamlining
communication and processing capabilities. This has led to quicker insurance
claim processing through online platforms and has enabled customers to easily
compare different insurance products using comparison websites, thereby
speeding up the payment process and enhancing customer experience.
References
[1] - https://insurtechdigital.com/digital-strategy/cloud-computing-insurance-sector-ultimate-guide
[2] - https://research.aimultiple.com/insurance-cloud-computing/
[3] - https://medium.com/@Imaginovation/how-cloud-technology-is-transforming-the-insurance-industry-348d3781233e
[4] - https://insuranceblog.accenture.com/insurers-cloud-power-reduce-tech-debt
[5] - https://next.voxcreative.com/ad/23835736/how-to-reduce-technical-debt
[6] - https://rivaengine.com/moving-to-the-cloud-a-simple-way-to-eliminate-tech-debt/
[7] - https://www.insight.com/en_US/content-and-resources/blog/how-cloud-solutions-can-help-trim-your-tech-debt.html
[8] - https://www.linkedin.com/pulse/how-cloud-computing-transforms-insurance-operations-bkplussoftware-ygttf
[9] - https://www.simplesolve.com/blog/reduce-technical-debt-in-insurance-systems
[10] - https://reciprocity.com/blog/benefits-of-cloud-adoption-in-insurance/
[11] - https://moldstud.com/articles/p-the-impact-of-cloud-computing-on-insurance-software
[12] - https://lenderdock.com/2024/04/16/cloud-computing-driving-innovation-in-insurance-services/
[13] - https://www.decerto.com/post/the-growing-importance-of-cloud-computing-in-the-insurance-industry
[14] - https://www.hbwleads.com/blog/ways-to-harness-the-power-of-data-analytics-in-insurance-sales/
[15] - https://www.damcogroup.com/blogs/insurance-data-analytics-for-insurers
[16] - https://www.oracle.com/us/industries/financial-services/confidence-cloud-insurers-wp-3526878.pdf
[17] - https://www.insightly.com/blog/top-10-unified-crm-benefits/
[18] - https://www.korcomptenz.com/blog/crm-for-insurance/
[19] - https://www.aimdek.com/cloud-computing-is-the-future-of-technology-in-insurance/
[20] - https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/what-every-insurance-leader-should-know-about-cloud
