Charles Taylor InsureTech has announced that it is launching what it claims to be the first cloud-based life, health and protection core insurance platform. Using this new platform, Charles Taylor InsureTech says that insurers will be able to launch and scale-up new products ‘in a matter of weeks instead of months or sometimes years’.
The new platform will allow insurers to launch targeted offerings for niche markets quickly by creating a step change in the development of new products.
Jason Sahota, CEO of Charles Taylor InsureTech, said: “Cloud computing is a well-established means for businesses to access software over the internet, but its take-up has been slower in insurance than other market sectors. Now, by accessing InsureTech’s platform on the Oracle Cloud, life and protection providers can develop, run, and manage applications without the complexity of building and maintaining the hardware infrastructure.”
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