Cloud Computing for Insurers – Fast Lane or Blind Alley?

These days everyone, especially in the insurance industry in Germany, talks about "cloud computing" when the discussion deals with the current trend regarding how companies use IT. The ongoing discussions about the typical issues of "cloud computing" like data protection and security, often result in confusion, leaving many insurers with more questions than answers. Confusion and prejudice often stem from lack of experience and the following open questions: What exactly is "cloud computing" and is it really the so-called paradigm for efficiency, agility and economic utility on demand? Can you really trust and control the cloud? How do you protect data or obtain compliance? Is it really reasonable and does it comply with specific regulations in sensitive branches like insurance? "Cloud computing" for insurers – fast lane or blind alley?