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

Driving Growth Through Distribution Management

In the current hyper-competitive marketplace, many carriers are focusing on improving their distribution practices as a key technique for driving growth.

The Start of a New Era: Digital Retailers and Insurance

Insurers from all around the world are making great efforts to become digital.

Google and Insurance: One Year Later

Google is getting the approval for selling insurance on their compare site in a large number of states via a number of different insurance partners.

How IT Managers Can Get Close to Policyholders

Four steps CIOs need to take to lead insurance organizations to greater “customer obsession.”

Strategic Initiatives for 2015: Making Sense of the Shifts

Insurers must choose between embracing innovation or just continuing with business as usual and run the risk of becoming a casualty in the new competitive battle.

To Stay in the Game, Insurers Must Aggressively Embrace New Consumer Technologies

Emerging technologies displayed at the CES could be some of the greatest change agents since the introduction of the Internet, offering breakthroughs that could challenge many businesses.