More and more companies are moving their core systems to the cloud – and for a good reason. When your system is on the cloud, you can access it anywhere, anytime. You can use fewer resources, spend less money, and operate more efficiently.
You can even benefit from improved security. This is a significant factor. Security Magazine says that ransomware attacks have surged by 62% since 2019. The size of the ransoms has also been increasing. CNBC says cyberattack victims paid close to $350 million in 2020, a 311% increase compared to 2019.
Every industry is vulnerable to this surge in ransomware, but insurers may be desirable targets because of the sensitive data they store. In one example of an insurance company being targeted, Bloomberg says that CNA Financial Corp paid $40 million in March 2021 to regain control of its network after experiencing a ransomware attack.
Cybercriminals are increasingly sophisticated. If you can’t keep your data safe in-house, you need a partner who can.
We’ve compared hosting in-house to roughing out a rustic campsite while using a partner like Microsoft Azure is more like staying at the Ritz Carlton. While camping out may appeal to some people, the increasingly complex environment make it more difficult. We estimate that that 90% of new Insuresoft implementations are hosted in the cloud.
Are You Ready to Move to the Cloud?
Migrating to the cloud can provide significant long-term advantages. In the short term, however, it might seem like a headache. Here are some tips to help the process go as smoothly and painlessly as possible.
- Use the Microsoft Azure Cloud Migration Checklist. This checklist covers the early steps you need to take if you’re thinking about migrating to the cloud. It’s a great place to start.
- Decide if you need an online or offline transfer. Online transfers can result in less downtime, but offline transfers may be better suited for some companies. You can do a test to see which method will be better for your needs.
- Decide what kind of cloud model you want. A public cloud is one that’s maintained by a third party, such as Microsoft Azure. A private cloud belongs to your organization. In a hybrid model, both private cloud and public cloud systems are used. Some data may also be kept on-premise. You can also use multiple public clouds. When comparing cloud model options, consider both efficiency and security.
- Decide which applications you want to migrate. You may want to migrate all of your applications, or you may only want to migrate some of them. You could also decide to migrate everything at once or to pace the migration.
- Pick your timing. When planning your cloud migration, timing is everything. Think about the other projects that are happening – will your IT team be occupied with other things, or will they be able to focus on the migration? If you’re upgrading other aspects of your business – for example, adopting a new software system or platform – you should also consider whether you want the cloud migration to happen before or after.
There’s a good reason that over the past four years, 100% of our customers with new core implementations choose Azure Cloud hosting. We’re here to help every step of the way.
