Cloud computing gains traction but doubts remain
Cloud computing has been hailed by its advocates as the ultimate solution for life and pension providers’ irregular requirements for massive computing power. But some in the industry are questioning its usefulness on grounds of security and efficacy. Clive Davidson reports
Life and pensions companies face an ongoing challenge as computer processing and data volumes continue to escalate. The stochastic modelling of risk and capital, driven by Solvency II and internal risk management, place enormous demands on in-house IT, particularly at year-end and other reporting periods. Given the pressure, it is natural that companies should turn to external service providers to help, especially now there is a growing infrastructure of third-party technology for hire.
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