Equinix can help insurers meet new regulatory mandates, data demands and customer expectations. Our 150 facilities have universally high standards for data centre security and operational reliability, and they can bring businesses inside almost any market.
Developing new customer-centric channels and embracing IoT and the shifts brought about by omni-channel delivery of products and services requires a solid digital strategy — pervasive, existing and potentially new data assets must be leveraged to create value and revenue — ultimately transforming processes, business models and customer experience by exploiting digital connections among systems, people, places and things.
Deployed as part of an Interconnection Oriented Architecture™, Equinix’s global performance hub colocation, cloud exchange technology and interconnection solutions, are providing a platform from which our insurance customers are making the transition to digital — offering proximity to every component required by the digital insurer.
Enhance and secure policy data exchange and claims management.
Recognising that insurance practitioners naturally gather together in markets, Equinix is facilitating an Insurance data exchange, that will allow all types of brokers, insurers and relevant service companies to interconnect together.
Renovate IT infrastructure to create new insurance products, services and revenues.
Improving IT service provision is one area where most insurers have the greatest need with many still reliant on dedicated or on-premise hardware. The Equinix Cloud Exchange™ technology provides a more secure, compliant and performant means of connecting to multiple IT services and aiding the compute, storage and sharing required for growing policy information.
Create real-time risk assessments and modelling.
Advanced analytics and modelling can lift an insurer’s performance, as competitive advantage will come from the more accurate pricing and loss reserving that predictive modelling can bring. Additionally, new data sources such as telematics in Motor, wearables in Health or Life and smart homes / offices in Property are huge new areas of data input which the Equinix data exchange simplifies.
A combination of Equinix’s global data centre services and Performance Hub™ solution, alongside our Cloud Exchange™ technology, will provide the secure, compliant and effective means of using an optimum mix of compute resource to the greatest effect possible, and thereby meeting the growing challenges that analytics poses to the insurance industry.
“40% of insurers are already using analytics to develop advanced customer segmentation.”
Mark Breading, SMA Partner
This paper looks at ‘’The Future of Insurance.’’ Leading experts are making compelling arguments that insurance needs to change. While the challenge to change is significant, the benefits of doing so are growing in an increasingly global industry.
“The Challenge to Change” is a three-part series that explores the future growth drivers of the global insurance industry.
The second instalment of “Challenge to change” that explores the future growth drivers of the global Insurance industry.