Offerings such as SaaS (Software As A Service) and cloud technology are allowing smaller insurance companies to run state-of-the-art insurance management software and underwriting software through partnerships with companies serving as third-party providers of these services.
While the improved, streamlined services for clients has helped to boost insurance sales and improve services to existing customers, the initial processes involved for transitioning to a SaaS system can be challenging as well as frustrating. Ensuring that the transition is seamless while providing uninterrupted service to clients and customers can be difficult for several reasons. However, the good news is that it is possible to go through SaaS integration with minimal problems if precautions are noted and practiced.
The Challenge of the Cloud
As the number of cloud-based services and applications have grown, so has the difficulty in keeping an enterprise connected and functional. Some businesses have opted to hire tech specialists to assess, recommend, and implement integration between existing systems and the SaaS.
The problem with this is that the process can be tedious, slow, and frustrating for all involved. If any component within the chain of functionality changes, it likely will cause malfunctions in other areas that must be identified and fixed without causing additional problems.
Because of these and other issues with SaaS integration in cloud-based systems, many organizations are using “iPaaS” (integration platform as a service). By using iPaaS, businesses can connect their cloud applications along with their on-premise systems with greater ease, efficiency, and functionality.
Companies offering iPaaS solutions do so in a similar manner as those offering SaaS. Common connectivity and integration issues are standardized among hundreds of popular services and applications. The integration can be efficiently executed with a process that is virtually unnoticed by users.
Some SaaS providers are even beginning to partner with iPaaS providers to offer an even better, streamlined service to clients and customers to create even better solutions for smaller insurance companies wishing to maintain a competitive edge.
The Challenge of Security
Insurance companies have large quantities of customers’ information in their databases and protecting the privacy as well as the integrity of the data must be of paramount importance.
Companies looking to partner with iPaaS and SaaS providers should ensure that the following security issues are addressed and covered:
- Company policies must address and set forth security measures that are of top concern.
- Filters must be in place to block unwanted or unauthorized access to systems
- Private and sensitive data should be protected with encryption as well as digital signature.
- Access to systems must be controlled in accordance with quantified security standards such as SAML, OAuth2, or LDAP.