The May 2023 report outlines that cloud adoption is central to insurers’ modernization, offering scalability, reliability, flexibility, and faster development through cloud-native services. Multi-cloud environments are unavoidable as insurers use platforms like Salesforce, Azure, Amazon, and Google for applications, core systems, and services. While the cloud often improves speed, consistency, and security, cost savings are rare due to potential overspending on resources. Initial adoption often began with niche applications, expanding to major systems, with the pandemic accelerating the shift and changing perceptions of cloud security.

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