While operational resilience has emerged as a major concern in the broader financial services space over the past year, insurers have yet to face the same level of scrutiny regarding their gaps in operational resilience. However, operational resilience is poised to play an increasingly significant role as more insurers embrace innovative digital business models that require always-on and connected services. With this paradigm shift in the insurance landscape already under way, how insurers manage complexities introduced by their growing appetite for cloud services will be central to building resilient services.
Hybrid cloud has emerged as an integral component of the cloud risk management toolbox in addressing third-party IT risk and fostering greater operational resilience. Hybrid cloud not only enables insurers to enhance their disaster recovery and business continuity management capabilities, but also empowers them to collaborate and innovate with partners within a secure environment.
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