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Find Out How Digital Technology Can Help Insurers Achieve Sustainability Goals

 Find Out How Digital Technology Can Help Insurers Achieve Sustainability Goals

One of the most effective and efficient tools insurers can employ in their search for a sustainable future is through usage of digital technology. An estimated 75 percent of company executives from different industries are actively investing in digital technology to combat the problem of sustainability. 

A close look at the United Nations Global Compact research reveals this enormous commitment to digital solutions. Many CEOs see the Fourth Industrial Revolution (4IR) technologies as essential for tackling sustainability problems like socio-economic differences. Artificial intelligence (AI), quantum computing, and robotics are all part of the Fourth Industrial Revolution technologies.

Carriers are advised to use necessary digital means to identify and properly implement ideas that can overcome problems such as social disparity, pollution, and climate change. Also, they need to improve the management of these essential resources. Using these resources in a very smart way can aid digital businesses - while reducing carbon emissions, conserve much needed energy, and drastically reduce waste.

Serious carriers who are looking to become sustainable insurers should strive to embrace the potentials that abound in digital technologies.

Insurers can use their digital tools to further their own sustainability ideas. A good example is helping customers better manage environmental risks through the use of data analytics and geo-mapping. Another option is to finance sustainability ideas that rely on digital solutions. The opportunity for insurers to finance such projects are numerous. 

To better manage digital resources and swiftly reach sustainability objectives, insurers should make efforts to move the bulk of their workloads into the cloud.

I’ve been impressed by the extent to which cloud computing can enhance sustainability. Our research shows that organizations that migrate to the cloud can reduce their energy consumption by 65 percent and cut carbon emissions by nearly 85 percent. Such sustainability benefits come with significant financial gains. Migrations to the cloud can deliver total-cost-of-ownership (TCO) savings of as much as 40 percent.

Cloud computing can truly improve sustainability. Research has shown that companies and organizations that move to the cloud can significantly reduce the energy consumed by as much as 65 percent while also reducing carbon emissions by 85 percent. Of course, such sustainability gains come with improved financial benefits. Moving to the cloud can produce total-cost-of-ownership savings by as much as 40 percent.

A company improves its sustainability the more it is committed and employs cloud computing effectively.

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