International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Cloud Computing in Insurance: Emerging Trends and Transformative Technologies

Author(s) Venkatakrishna Nukala
Country United States
Abstract This article examines the transformative impact of emerging cloud computing trends on the insurance industry. As insurers increasingly adopt cloud-based solutions, several key technologies are poised to revolutionize operations, customer experiences, and business models. The integration of artificial intelligence and machine learning is enhancing underwriting accuracy, claims processing efficiency, and fraud detection capabilities. Edge computing is enabling real-time data analysis and decision-making, while serverless architectures are optimizing resource allocation and reducing costs. Blockchain technology is improving data security, transparency, and trust in transactions. Additionally, hybrid and multi-cloud strategies are providing insurers with greater flexibility and regulatory compliance. This comprehensive analysis explores these trends, their interconnections, and their potential to drive innovation in insurance. The article concludes by discussing the implications of these advancements for insurers, policyholders, and the broader financial services ecosystem, offering insights into future research directions and industry adaptations.
Keywords Keywords: Cloud Computing, InsurTech, Artificial Intelligence, Blockchain, Edge Computing.
Field Computer
Published In Volume 6, Issue 5, September-October 2024
Published On 2024-10-28
Cite This Cloud Computing in Insurance: Emerging Trends and Transformative Technologies - Venkatakrishna Nukala - IJFMR Volume 6, Issue 5, September-October 2024. DOI 10.36948/ijfmr.2024.v06i05.29478
DOI https://doi.org/10.36948/ijfmr.2024.v06i05.29478
Short DOI https://doi.org/g8pnjv
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