Not All Clouds are Created Equal: Five Characteristics of a True-Cloud Platform
January 9, 2023
Cloud-related jargon has taken over much of the tech industry since the term “cloud computing” was popularized in the mid-2000s, but while many technologies claim to be “cloud-enabled” or “cloud-based,” they lack “cloud-native” capabilities. Navigating these terms and distinguishing what is or isn’t cloud-native can benefit insurers by providing them with a clear understanding of what a true cloud platform can bring to the table.
An easy way to tell whether a platform is cloud-native is by the amount of manual maintenance it requires. Legacy technologies that incorporate elements of cloud technology still require manual update procedures that can often involve hours of downtime and troubleshooting. Cloud-native platforms like Socotra update automatically and regularly and require zero downtime.
Similarly, legacy systems tend to require complex setup and onboarding processes, and hands-on instruction. Cloud-native platforms, on the other hand, bypass the lengthy configuration and deployment step required for legacy systems. Customers can start building on Socotra’s cloud-native platform within minutes (just ask us for a free trial) using intuitive tools—accelerating deployment timelines and allowing room for flexibility and innovation.
Legacy software platforms require manual intervention to adjust computing power and server capacity. Cloud-native platforms like Socotra can scale to meet demand automatically, eliminating the need to invest in additional IT infrastructure.
Most legacy software platforms fix bugs or add new features once or twice a year. Cloud-native platforms make improvements multiple times a week. Socotra continuously pushes out updates and bug fixes that are automatically distributed across the entire platform with minimal disruption, so every customer benefits and the platform becomes collectively safer and more reliable.
Most of us don’t know which version of Google Docs or Slack we are using. Shouldn’t that be true of insurance core platforms as well? Out-of-date platforms can slow down the ability to react to changes in the marketplace and demand costly time-consuming upgrades. For insurance core platforms, older systems can even hinder product development and introduce security concerns. Cloud-native infrastructure disrupts the concept of “versions” because it is constantly improving, seamlessly working behind the scenes so that customers are never taken offline for updates. With Socotra, every user has access to upgrades that are continuous, automatic, and free.
In a nutshell, cloud-native technology reduces IT costs while allowing insurers to expand products and services and increase efficiency; expedites product deployment timelines and processes; and provides insurers with technology that will continue to improve well into the future.
Ready to experience the agility, flexibility, and reliability only possible with a cloud-native core platform like Socotra? Fill out this form, and a member of our team will be in touch.