There’s a lot of risk these days to be had in the business world. Whether it’s competing against other corporations with more clients, advertising aggressively online or leaping into new technology for a better edge, there’s always a chance for a big payout or a steep decline.
One of the newest tools in the professional liability insurance landscape presents new risks all on its own. The presence of cloud computing in this industry is on the rise, and with that comes entirely unique sets of possible problems and promotions. Balancing the two elements takes finesse, but do insurers have the skill and time to make the case?
As Canadian Underwriter stated, these businesses aren’t just able to handle the challenge, they’re actually accelerating their implementations. The source pointed to a study earlier this year that showed mobile solutions were taking off in about 20 percent of general professional liability environments. What’s more, C-level executives stated that they feel positive about making this technology a priority.
Much of this momentum is due to the presence mobile and cloud options add to the industry, the source noted. With more people bringing their own smartphones and tablets to work, to the doctor, on the go and to corporate meetings, there’s greater opportunities to make meaningful connections with employees and consumers alike through these channels. That way, firms can improve their visibility and encourage a more positive, progressive idea about their organizations.
This kind of convenience and presence is also driving public applications and professional liability services to the cloud. The St. Louis Post-Dispatch reported that the federal government’s healthcare portal will be taking up the cloud banner, though there are still some communications issues to work out.
The source stated that the Healthcare.gov website will move to this environment in order to better serve both new and returning customers. By using this kind of infrastructure, it will be much easier for users to navigate the site, gain access to services and manage their accounts. What’s more, it will help reduce operating costs and data management expenses for the U.S. Centers for Medicare and Medicaid Service.
With more affordable healthcare and a rising variety of healthcare professional liability services, it takes a lot of processing time to keep redundancy and errors out of the picture. The cloud can help insurers manage these tasks by taking much of the process out of the business and hosting it remotely, thereby making it easier to view problems, resolve issues and carry out case management.
Creating better outcomes
This process hasn’t come without its caveats though, as USA Today wrote. While the healthcare industry struggles to overcome its operational flaws, it’s also trying to start making more progress into the cloud. This has resulted in a variety of problems, including lost documents, poor performance and insufficient information to care for patients.
Yet the presence of the cloud itself has helped create more efficiency and fluidity in these environments. By improving the range of services, variety of tools and availability of data to clinicians, there’s been a vast improvement in how well healthcare professional liability can be implemented.
At the same time, there’s been a surge in the number of developers and providers for cloud-driven insurance provisions. This helps healthcare workers and general professional liability services alike in increasing quality of care. Through cloud and technology innovations, the industry as a whole stands to gain a considerable amount of ground on its image and performance capabilities.