Berkshire Hathaway to make use of new cloud-based software solution from Accenture
Berkshire Hathaway Specialty Insurance has announced that it has accepted an offer from Accenture, a technology services firm, regarding the use of cloud-based property and casualty software. The software will be delivered through the Accenture Cloud Platform and will allow Berkshire Hathaway to consolidate and streamline its business processes. This is expected to enhance the insurer’s efficiency and help reduce operating costs to some degree. Cloud-based technologies and services are becoming more popular throughout the insurance industry.
The insurance industry is looking to technology to help with its continued evolution
Insurance companies and financial service firms are becoming more interested in software solutions that can better manage the challenges they face on a daily basis. Solutions that boost productivity and allow insurers to operate faster and more efficiently are beginning to become high demand products that organizations are seeking out aggressively. Companies that develop these solutions, such as Accenture, are finding that the market is growing increasingly favorable for the products they have on offer.
Insurers can cope with dramatic market changes with the help of technology and innovative software
The global insurance market is changing and, in some cases, this change is quite dramatic. In the property field, natural disasters, ongoing political unrest, and the potential impact of climate change is beginning to have a major affect on various insurance segments. Berkshire Hathaway, as well as other insurance companies, has been working to adapt to these changes in the market while also preparing for whatever future issues that may arise in the coming years. In order to do this, these companies are turning to innovative new technology.
New software may help Berkshire Hathaway meet certain business objectives throughout the coming year
Berkshire Hathaway expects that the new software solution from Accenture will give it a competitive advantage over other insurance organizations. Accenture may be able to help the insurer achieve certain goals, including the acceleration of the release of new insurance products and improving the claims process so that it is more consumer friendly and efficient. The insurer also expects that the solution will help streamline its billing process.