Enterprising Developments

Can Insurers Benefit from Another Database in the Cloud?

Joe McKendrick
Insurance Experts' Forum, January 20, 2012

Amazon Web Services, recently announced the launch of Amazon DynamoDB, a fully managed NoSQL database service.

What's the significance of launching a NoSQL (stands for “Not Only SQL”) database? Because these are the engines that are being used to manage, process and store “Big Data,” most of which is unstructured files – from weblogs to photos to images.

What's the significance of Amazon getting into the NoSQL database market? It's another essential part of the enterprise software stack now available on-demand, from the cloud.

What's the significance to insurance carriers? There will probably be limited impact initially, but there are promising potential advantages in the long run. For example, managers and professionals seeking to roll out new product lines or increase the functionality of current operations have a place to quickly turn and build data stores that have the full backup and protection of the Amazon organization.

This provides greater flexibility over requisitioning budget for new database licenses. Of course, unstructured data, such as image files, are a critical part of insurance workflows. Plus, it enables analytics to be run against these files.

On-premises data centers and systems aren't going away, and will be part of insurance companies for a long tome to come. And there are concerns about data security and regulations that need to be addressed. But there are more and more opportunities to innovate and expand into new areas using this new breed of resources offered by Amazon, RackSpace and IBM.

Joe McKendrick is an author, consultant, blogger and frequent INN contributor specializing in information technology.

Readers are encouraged to respond to Joe using the “Add Your Comments” box below. He can also be reached at joe@mckendrickresearch.com.

This blog was exclusively written for Insurance Networking News. It may not be reposted or reused without permission from Insurance Networking News.

The opinions of bloggers on www.insurancenetworking.com do not necessarily reflect those of Insurance Networking News.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments...

Already Registered?

If you have already registered to Insurance Networking News, please use the form below to login. When completed you will immeditely be directed to post a comment.

Forgot your password?

Not Registered?

You must be registered to post a comment. Click here to register.

Blog Archive

Don’t Wrap Your Organization Too Tight With Metrics

Metrics provide a picture of how business is going, and systems are performing. But do they provide the right picture?

Insurance: The Original Shared Economy

Insurers should look to revisit the roots of the insurance process.

The Seven Flavors of Virtualization

There is no one single form of virtualization rather, different parts of the IT infrastructure require different approaches.

Can New Technology Turn Older Cars into Safer Cars?

Unless you have the means and motivation to buy a new car every year, your newest car is quickly about to become an older car.

What if Someone Kickstarted an Insurance Company

Our industry is evolving and implementing new innovations, particularly focusing on the customer experience, including the web and mobile.

The Transformative CIO

Today's technology leaders are expanding well beyond their traditional role.