How did four monetary providers teams rework their enterprise by harnessing the worth of cloud?
Cloud is the inspiration for a digital-enabled insurer. On this weblog sequence, I’ve spoken concerning the worth, adoption, myths and challenges of cloud—with a give attention to the brand new dialog that’s rising within the insurance coverage trade. We’re shifting past speaking about cloud to taking actual motion and seeing actual rewards.
On this publish, I’ll have a look at 4 case research of economic providers organizations which have efficiently made the journey to cloud—and classes we will be taught from every of them.
Towergate Insurance coverage
Towergate has change into one in every of Europe’s largest impartial intermediaries, primarily by means of acquisitions. However progress has its price and as extra corporations joined, Towergate’s IT surroundings expanded to incorporate a whole bunch of various techniques, purposes and processes.
Recognizing that it was time to vary, Towergate launched into a complete IT reboot and an bold cloud migration effort. Accenture partnered with Microsoft and Avanade to remodel 4 key areas of Towergate’s infrastructure: information middle and internet hosting, community and telephony, end-user computing and repair assist.
In 12 months, Towergate grew to become a cloud-based digital-enabled firm with seamless processes. It related four,500 workers and united 300 companies, and now generates 30 p.c annual financial savings. Learn the complete story right here.
Accenture partnered with Amazon Net Providers (AWS) to assist US financial institution and credit score facility, Capital One, relocate its flagship cell banking software to cloud. In doing so, Capital One lowered its information middle footprint from eight to 3 facilities by 2018.
Capital One CIO Rob Alexander believes that “digital is the brand new financial institution department” and says in a video on the AWS platform: “We have to be nice at constructing digital experiences for our clients.”
“We need to be within the enterprise of constructing nice purposes for our clients, to not put money into constructing pricey and sophisticated infrastructure,” Alexander says. He explains that Capital One selected AWS for its velocity, elasticity, availability, safety, expertise and the width and breadth of its platform. Watch the whole video right here and browse extra how Capital One used AWS cloud providers by means of the totally different phases of its improvement—from mission to optimization.
Six out of 10 insurers substitute their legacy techniques each three to 6 years, which will increase their complete price of possession. Suncorp determined “no extra.” The Australian FS firm determined to interrupt the cycle of refreshing its legacy techniques and constructed a brand new enterprise mannequin utilizing cloud.
Within the course of, it shrunk its information middle house by 75 p.c and lowered its utility prices. It adopted a step-by-step method to cloud migration: first it moved all its storage to cloud, adopted by different workloads and purposes.
Suncorp selected AWS to assist its cloud-first technique. In three months, the corporate launched a working digital personal cloud and digital information middle. Watch this video during which CEO Jeff Smith explains how the corporate determined to maneuver the whole lot to cloud after which did it.
Accenture’s journey to cloud is a riveting story, which could be learn in full right here, and we’re excited to share our key learnings with our purchasers. At this time, Accenture is 92 p.c within the public cloud in our quest to change into a digital-first enterprise. Moreover, 95 p.c of all new infrastructures are equipped straight within the cloud.
Our three-year journey to cloud happened in three phases: adoption, optimization and transformation. Up to now, because of our profitable cloud migration, we’ve achieved as much as 50 p.c discount in cloud provision lead instances; our cloud footprint elevated from 9 p.c to 92 p.c in lower than three years; and we’ve seen a 40 p.c low cost on cloud situations over a one-year time period.
Watch this video the place Accenture CIO Andrew Wilson demonstrates what it seems to be prefer to work within the cloud:
Are you able to comply with within the daring footsteps of those organizations? If the reply is sure, contact me right here or on Twitter (@BerendDeJong1) for extra data on the journey to cloud.