Fact or Fiction: Navigating the Nuances in P&C Cloud Technology

Thank you for joining us today for this web seminar, fact or fiction? Navigating the nuances in PNC cloud technology. Modernizing core technology is a part of many insurers’ near term plans. However, failure to fully appreciate the key differences in cloud architecture types can set them up for unintended consequences down the road. In today’s discussion, we’ll get the perspective of an industry analyst, an insurer, and a cloud technology vendor as we consider the distinct advantages and drawbacks for each type of cloud solution for insurers. My name is Chris Bennett, and I’m currently the head of strategy for the insurance business at Origami Risk, and I’ve been deeply involved, with risk and insurance technology during my entire executive career. I’m fortunate enough today to be joined by Wayne Gearhart and Martin Higgins. Wayne is a senior vice president and chief operating officer of Hartford Mutual Insurance Group located in Bellaire, Maryland, where he leads strategic initiatives, IT, and overall operations. In twenty twenty two, HMIG wrote three hundred and twenty seven million in direct written premium and ended with a three hundred and twenty million dollars in policyholder surplus as the company completed its one hundred and eightieth year of operation. Welcome, Wayne. I’m also joined by Martin Higgins. Martin is a senior principal at ITE Novarica Group. He has over two decades of experience working in various insurance and insurance technology roles and has expertise in technology strategy, p and c core system selections, and implementation, agile transformation and DevOps, business intelligence, system integration, legacy modernization, software development, and data warehousing. Welcome, Martin. Thanks, Chris. Glad to be here. So we’ll start today with the perspective from an industry analyst and and then get the insurer perspective, and finally, thoughts from a software provider. So with that, I’ll turn it over to you, Martin, for your for your thoughts. Sounds good. Thank you, Chris. We can go to the next slide. So just just to kick us off, I just wanna kinda give a little bit of background as to as to who Datas Insights is. We we we’re probably better known to the industry, the insurance industry as Navarica or IT Navarica. We just rebranded so that the name may be new. We’re an analyst advisory and consulting firm that helps financial institutions make better technology decisions. I work in the insurance practice. I’ve been in the insurance industry for about twenty five years. In the insurance practice at Datos, we work with carriers, MGAs, reinsurers, and software vendors. We have around about a hundred and fifty or so insurer clients and about four hundred or so insurers in our research council. Companies that are in our research council help us with with our research, with our industry research, and I’ll talk through some of that today. So glad to be here and looking forward to the to the presentation. So next slide, please. K. So so I’m gonna talk about trends in modern core systems today. By core systems, I mean, policy system, claim system, billing systems. One of the reports that I author at Datto is a core systems market survey. Profiles around about fifty core system vendors in the space today. What we see from the leaders in the core systems market is a focus in five different areas, and these areas allow them to deliver value as never before to their customers. The areas that we see getting a lot of attention today from leaders in the space are low code, which is the use of of technology to to configure systems that so that you don’t need to do customizations in in code. API enablement, ecosystems. So ecosystems are partnerships and pre integrated core system of vendor solutions that can be that can be tied into the main system. Multi tenancy, which we’ll talk a lot about today, and then cloud nativity, which we’ll also talk a lot a lot about that today. One of the things that you’ll notice from from this slide is that cloud is not here by itself. Cloud in its broadest definition is pretty ubiquitous now. We’ve seen maybe one deal in the past few years where an on on premise installation was a requirement, And the number of vendors that would participate in that is is pretty limited. So we we we generally in the space, we see that most vendors now are cloud prep, certainly cloud preferred, maybe cloud only in many cases. The other thing you’ll notice is that AI isn’t on this list, which which is may perhaps a little bit surprising. Courses what we see is core system vendors typically rely on partners to integrate AI, And often time oftentimes, that’s part of their ecosystem approach. We will expect that to change over time. We would expect maybe next year that a a that AI will become much more of an integral component. We do see many many vendors working on integrating large language models into their solutions, which is a trend that that we’re certainly watching. We can go to the next slide, please. So we’re gonna focus in today on the the bottom two boxes, number four and number five, which are multi tenancy and cloud negativity. Both of these aspects allow core systems to efficiently scale to meet the dynamic needs of their customer base at a pace which we haven’t seen on prem installations or single tenant installations match historically. So we’re drill into a little bit more of those and see what the benefits are to to to insurers. Next slide. So be before we jump into that, I just wanna talk about generally about about the the term cloud and what it means. You’ll you’ll hear the term used by most software vendors, and it doesn’t always mean the same thing. Oftentimes, cloud is used as a synonym for software as a service where the software is hosted and managed by a software vendor. That generally does not meet, at least in our understanding, the definition of cloud computing. So SaaS, first of all, is is just a license type. Typically, it is deployed in the cloud or at least hosted managed by a vendor, but it doesn’t have to be. You can have on prem software that’s SaaS licensed. Vendors will often use the term cloud when when they’re running software in their own data centers. They they want the hype of the of cloud. It has a term that’s very popular and sought after in the industry. By calling their solution a cloud solution, it’s good for marketing even if it isn’t strictly accurate. So just something to be aware of when when a vendor says cloud, it doesn’t necessarily mean cloud in the accepted definition of the term. One of the reasons that they use the term cloud is that it emphasizes availability and scalability. Vendors wanna give the impression that their hosted solutions have those qualities. They’re highly available. They’re very scalable even if the back end is is more traditional. So it it’s just something to be aware of. Oftentimes, it is used as a for, you know, for for its marketing benefits. There are also negative connotations associated with the term hosting. So many vendors you’ll hear steering clear of the term hosting because it’s it’s perceived as being an older term and associated with more traditional technology. So again, another reason why vendors often cloud when they when they when they don’t strictly have a cloud solution. And oftentimes, the term private cloud, you’ll you’ll hear bandied about. The reality is private cloud is often a synonym for hosted solutions where infrastructure is provisioned and managed exclusively for a single organization. And that does provide a lot of benefits. Certainly, that can be beneficial over traditional on prem solutions, but private cloud often does not mean true cloud, and we’ll talk about what that means on the next slide. So the difference between private cloud and and public cloud is an important one, and it really comes down to how that infrastructure is managed or hosted. And it is important to ask your vendor as you as you go through a selection process, really to to to get into the nuances of whether they’re whether they’re referring to private cloud or whether they’re referring to public cloud. So with a private cloud, infrastructure is provisioned for exclusive use by a single organization. Oftentimes, that’s managed by the organization or could be managed by a third party provider, oftentimes a a colocation facility. With a private cloud, the hardware and the software is completely dedicated to one organization. So, you know, as a customer of of of a private cloud solution, you will be you’ll be respond you’ll have your own hardware that your solution is deployed on. Oftentimes, you’ll have much more control over a private cloud solution than you would over a public cloud solution. And that’s really one of the benefits of of private cloud is is additional control. It’s also, you know, security in some situations. Some insurers will feel more comfortable with the security of a private cloud solution because because they they have more control over that security. And they can customize it maybe to some degree more so than a a public cloud solution. Public cloud solutions are really becoming the norm, though. And these are solutions where where the infrastructure is managed by a cloud vendor like AWS or Azure. The resources that you that you’re assigned in a public cloud solution are hosted in that provider’s data center, and that data center will be shared across many organizations. You’ll be accessing that public cloud over the Internet in many cases. The provider, so that would be AWS or Microsoft in the case of Azure or Google, will will be responsible for providing that high availability and the scalability of resources. So it’s something that the software vendor in that situation, the core system vendor won’t have to be responsible for. You can take advantage with public cloud of pay as you go pricing models. And the reason many insurers have moved away from private cloud and towards public cloud is is better agility, availability on a global level, and then just avoiding the operational costs of managing their own infrastructure because you’re essentially paying the cloud vendor to manage the infrastructure for you. You really don’t have to worry about servers and networking and that kind of thing. So there are some significant differences between private and and public cloud and and something just to be aware of when you talk to your vendors about about their cloud offering. Next slide, please. So so so there’s public cloud, there’s private cloud. Another term we wanna introduce is is this term cloud native. And just because something is is deployed on a public cloud, so on AWS or or Azure, it doesn’t mean it was designed to work on that on that public cloud infrastructure. So modern solutions that have been built really that were born in the cloud, you know, they that the the software was written when cloud was was widespread and prolific have have been designed differently. They’ve been designed from the ground up to utilize some of the unique capabilities of cloud providers, such as AWS and Azure. So it is important to understand the legacy of the solution that you’re talking to when you’re evaluating a vendor. Did the solution was this solution conceived when cloud was a thing? And has it been designed to take advantage of those unique capabilities of the cloud that maybe an older solution might not do. Right? So some of those capabilities are things like scaling, auto scaling. So with with cloud native solutions, the system understands the use of the application in real time and can allocate or release resources depending on how heavily the system is being used to help maintain those service levels, you know, how responsive the system is being, you know, is it slowing down under under a significant load, that kind of thing. Cloud native solutions are also, in many cases, auto redundant. Right? So if the if if there’s a problem with some infrastructure or some networking, the the a cloud native solution will inherently fail over to to another environment, and the user won’t notice any kind of downtime. Provisioning is much easier. Historically, with core systems, in many cases, just getting a new environment for your test environment or for a new development environment or a new production environment took a lot of time and effort. It required a vendor to provision that environment manually in many cases. Cloud native solutions, they often have administration deck dashboards and consoles that allow environments to be provisioned easily, which can which can really speed up internal projects if you have the need to to spin up a new environment very quickly. One of the big benefits of cloud native solutions is agility. So that would be getting changes into production quickly. Native cloud platforms often leverage many of the capabilities of DevOps. So they’ll use high speed deployment pipelines, which means that you can get your your product your product changes into production much more quickly than you would in a traditional environment where you’d have to go through, you know, a much more onerous process to promote changes. And one of the final benefits that I just wanted to to mention is cloud native solutions have are inherently future proof. You know, we’re moving away when we see this across the industry, we’re moving away from this big kinda upgrade process where every eighteen months to two years, an insurer has to has to engage a professional services team to do a software upgrade to a much more of an update model where the software vendor is pushing small changes much more frequently. And those can those can be taken by an insurer without a significant impact, you know, without spinning up a massive testing and deployment effort, which has historically been the case with upgrades. So it’s a significant a significant benefit, and we see this accelerating over time. If you think about the model that Salesforce has, and many of you will be using Salesforce, I’m sure within your organizations, you’re really not aware as a customer of Salesforce that they’re pushing new features into production. It just it just happens seamlessly in the background. There’s no customer impact. There’s no, you know, a significant upgrade project that’s required to take an upgrade. So we we see generally that the leaders in core systems are moving in that direction. Next slide, please. So one of the other things that we see, and this is really this is really again, it’s those leaders in the space, the vendors that have newer technology that are here, and and also the incumbent vendors that have maybe been in the space for a lot longer are also moving in this direction. But it’s this idea of cloud communal living. So the the technical term for it is multi tenancy. And multi tenancy means that a single shared installation supports multiple multiple clients. And this the the benefit of this, the the the real benefit as a as a consumer of the system is a much more efficient use of cloud, better scalability. Again, this is this is the the the Salesforce model in many ways. So with Salesforce, you you know, customers are all using the same installation, the same application servers, and they have their separate databases. And we see this as a trend in the core system space as well within the insurance industry. Several vendors now are are either multi tenant or moving towards a multi tenant architecture. What this benefit this brings to to you as a consumer is better pricing. So the so the the software vendor can be more efficient. They share resources across all of these tenants, and that leads to lower costs and better economies of scale. Better feature delivery. Features and fixes are rolled out to all tenants all at once. There’s only a single code base to support. You don’t have the opportunity to fall behind because it’s a single installation, which which is a benefit to most organizations. Most organizations would rather not fall behind if they could if they can avoid it. It provides better availability and scalability, so shared resources, infrastructure, improves uptime and disaster recovery. It’s easier to add capacity when it’s required. Multi tenant systems also tend to be easier to customize because it’s a shared application environment. Such a solution can’t have a custom code for every tenant. It would quickly become unmanageable. So what we see is that multi tenant solutions generally tend to be much more configurable than single tenant solutions. The another benefit is security. So expenses for security are shared by tenants. You can have universe uniform security policies and procedures shared across the entire environment. So generally, see certainly an opportunity for better security in multi tenant environments than in single tenant environments where you’ve got a single security team that’s maybe spread very thin about third you know, across thirty or forty different customer environments. Similarly with support, you have a single support team. That support team is not supporting unicorn environments. They’re supporting a shared code base. If if a a multi tenant environment goes down, you can be sure that that support team is gonna be on it very quickly because it’s affecting all of the customers and not just one. So generally, support in multi tenancy environments is is better as well. Next slide, please. So this is just in kind of summary. This is what we see vendors doing in terms of navigating the the course, the cloud multi tenancy. We do see cloud multi tenancy as the future goal out, you know, in the in the core system space. The core system market is a survival of the fittest market. There are over fifty vendors in this space. If vendors wish to stay competitive in the long haul, the direction must be towards cloud nativity and multi tenancy. It it benefits customers, and it also benefits the vendor significantly. So we see the shift from on prem solutions, which were common fifteen years ago or so, towards hosted private cloud solutions, which, you know, ten years ago were the norm. These days, most vendors have moved to a club public cloud offering because that offers better agility, global availability, and also avoiding the operational cost of managing infrastructure. We also see the trend with the leaders in the space moving towards cloud optimized or cloud native solutions, which, again, provides better resilience, better agility. These are solutions that were that were born in the cloud. They take advantage of cloud features that you just can’t do on prem. And then the the final stage, as we see it today, is kind of multi tenant cloud. And that’s where both vendor and insurer gets the benefit of of cost savings, elastic scalability, better support, faster innovation through through software updates versus software upgrades. You know, it’s a significant shift for many vendors, but certainly the the the leaders in this space are either here or they’re moving in this direction fairly rapidly. So with that, I’m gonna hand it over to Wayne to talk about his experiences. Thank you, Martin. Let me go to the next slide. Alright. So one of the aspects that, we really wanna share today was really talk about our Hartford Mutual’s journey to replace our to modernize our core systems. And, it if you go back and listen to Martin’s, presentation there again, it really followed, the script that he laid out. You’ll you’re gonna see a lot of common themes and trends in in the next several slides where we talk about our journey. But our journey really started in two thousand nineteen when Hartford Mutual really embarked on an eight year strategic journey that was really focused on building our capabilities to put us in a position where we could we could do multiple things, and it it revolve around growth, double digit growth, as well as state expansion, new products, new markets, etcetera. So we really started on the strategic journey, and we stayed true to our mutual mutuality in the mutual industry. We really wanted to have a vision that says we wanna be the regional carrier of of choice. We wanna be a preferred employer for our employees. We had very specific pillars in our strategic plan around responsible growth, profitability in the underwriting sector, really getting good at risk and operational management, and then most importantly, having an environment that could support our employees in all aspects of their roles. And the primary initiative in that gets get us started was really to modernize our core systems of policy claims and billing. We we successfully went live with our policy system a couple years ago, and then next up was our claim system. So what goals and objectives did Harper Mutual have as we were really focusing on our claims modernization project? Well, really, it starts at the top there when you look at that top left. We really needed to have national carrier claim capabilities. When you think about a regional carrier like us, we still compete day in and day out with all of the national carriers for the same agents, the same, customers. And those customers and agents, they demand that, any carrier really has the all the same type of capabilities. So even though we’re a regional carrier, we need, capabilities that allow us to compete with all the national carriers. We also needed a system that would allow us to support our continued premium growth and claim volume through with state expansion, mergers and acquisitions, and other aspects. We knew that, where we are today is not where we’re gonna be in the future, and we needed a system that was really gonna allow us, to continue our strategic plans. We really want to focus on our our the experience of not only our customer, but our agent and our employee experience. So we needed a a vendor who would really provide us capabilities around portal access and digital access for all three of those aspects of stakeholders to, again, to really provide them a modern experience. We also are focused on efficiencies, you know, driving all of the that extra expense out of our out of our life cycle, and and also robust vendor integrations. Martin talked about the API aspect. We really needed a vendor that would allow us to integrate with all the multiple vendors that that really help us provide those claim capabilities to all of our internal and external stakeholders. And then data predictive analytics, Martin also talked a little about AI and those types of things, where we’re going in their future. Our strategic plan is very, very specific about how we need to be on the leading edge around data and predictive analytics. And coming from a legacy system, we just were not we would not be able to achieve those types of goals and those types of capabilities improvements with our legacy system. So we really needed something that that could move us into the future, not only today, but also had a road map for the future that would allow us to continue to absorb any new technologies around the data and predictive analytics and AI. And the the last thing there is that that regulatory compliance. So we’re really focused on something that would allow us to be compliant as we continue to grow from a few states into multiple states. We needed a needed a solution that would allow us to really be compliant across all the different venues in our in our ecosystem. Next slide, please. Alright. So how did our modernization approach start? It really started in the beginning where we we we made a deliberate approach to define the business needs, around all of the all aspects of all the internal stakeholders, what they needed. It was really focused on those four pillars that we mentioned from our strategic plan. And we started with, we really completed a process engineering of all of our current workflows. And we looked at those current workflows, and we compared those to all the needs that all of our business team, really told us. We identified those gaps that helped us really create the, the initial RFI. We also evaluated and created an architectural architectural strategy. If you go back to Martin’s slide, that slide that he he presented around where from the on prem to the native cloud, we really took a deep dive into that as we had historic on prem solutions. We really wanted to understand what would help us help us continue to achieve our our strategic plans from an architecture standpoint? We really landed on that. We needed a native cloud product that would really be simple to upgrade and take on new products and new capabilities. We that’s where we got that. We we consulted with Novartis. As a customer of Novartis, we consulted with them and really helped them identify. Here’s here’s what we think we need. Here’s what our strategic plan is. Now help us understand what vendors might be able to help us solve those. And if you look at that bottom left, it really that identifies all of the various vendors that we initially sent our RFI response to, or submitted RFI. Then we got a response back from several vendors. And as we looked at the several vendors’ response, we really narrowed it down to six that said, from the responses, we felt like, let’s go ahead and take a a long view demo and, got a little deeper. From there, we evaluated those, and we really selected three that we felt these three vendors really fit the majority of our needs. And let’s take a deep dive, which was Origami, DXC, and CodeObjects. From that aspect, we really it was very quickly we narrowed it down to two when you think about the architecture standpoint, and we got down to Origami and CodeObjects. And, ultimately, as we went through a proof of concept and really build out the APIs to policy and and several other applications, and it was clear to us when it was all said and done that Origami Risk was ultimately the best the best vendor for us as we went forward to really achieve all of those goals we mentioned earlier and, really provide us those national carrier claim capabilities. Why Origami? We selected Origami for multiple reasons, but just to hit a point, a couple of the highlights today. When you think about the digital engagement for policyholders, agents, brokers, we really felt this system would allow us to to leapfrog into current technology that would really improve their overall experience for our policyholders, agents, and brokers, as well as vendors using all of the various preferred channels. That really was from end to end, from first notice of loss, through claim status throughout, through payments, reserving. The entire end to end process was was absolutely modernized with this product as well as reporting. One of the aspects would when you think about legacy systems, the reporting is basic at best. And, when you think about this product, it had so many standard reports as well as very simplistic approach to be able to modernize and create any, any new report you needed as well. And then for a vendor requirements, I mean, we needed we wanted to partner with a vendor that was not only building their product the the product met our expectations today, but also would grow with us. And when you looked at when we looked at Origami’s road map, we were really comfortable that as we continue to grow, they were gonna grow with us and help us achieve our goals. And like I mentioned before, all of the the multitenant that Martin spoke to, the configurability, the speed to production, all of those types of things were truly outpaced the competitors in the industry. And I’ve gone through a prior two prior legacy system replacements, and the speed to production and the configurability was truly different than what we’d seen in the past. Thank you, Wayne. Very insightful from the insurer’s perspective. Now I’ll take this opportunity just to to share our journey as a as a vendor in this space, what the cloud has meant to us, and what it’s allowed us to do for our clients and and kind of new new ideas and innovations and technologies we’ve been able to bring to bear. So, you know, Origami was founded in two thousand nine. So so very early after the launch of AWS, one of the first true sort of cloud hosting platforms. So we were a very, very early adopter for cloud, and it wasn’t an easy choice to make at that point in time. But what it really came down to for us when we made the decision that we were gonna build a a true single instance, multi tenant cloud native solution, at at the time was scalability and the idea that we didn’t have to to think about and manage the constant changes in technology as we went forward. And because of that, we could really focus on the market, our particular clients, and innovating for those clients. So a lot of our our effort, our r and d effort could really focus on driving value for the industry. Our first product office offer and and this kind of is a a sample. If if you look at the timeline here, we really started initially as a tool for the commercial insured. That was the first piece of functionality that we built and rolled out in the system. And so that that tool, by its nature, was designed to take, you know, claims data, policy information, exposure values, all of your safety information, which, you know, could exist at at multiple different, you know, external vendors, be they carriers or third party administrators. It might exist in other systems that that you had internally as a as a commercial insured. We we pulled all of those together and and built them into a single platform that allowed them to to drive workflow, to to do reporting, to understand kind of the connections of those datas and ultimate that data and ultimately to determine their their total cost of risk and to manage that total cost of risk. And from that sort of simple beginning and that simple concept, which, you know, focusing on the commercial insurance, we just continued to organically grow and be led by our clients into other parts of the market. So our PNC claims launch was originally in twenty twelve, so we started serving organizations that adjudicated claims on behalf of those, insureds and on behalf of carriers and then ultimately the carriers themselves. So that was kind of the first part of our journey expanding into the market. And you see from this timeline, we’ve continued to add functionality that that really does serve the entire insurance value chain. And and we’re unique in that respect and that that we do serve all of those links. So we serve the commercial insureds. We serve the brokers. We serve the third party administrators, MGAs, the carriers themselves, all in one technology. And and and more importantly than one technology, one application. Right? It’s a a true single instance multi tenant application. So all of this functionality has been built kind of organically and added to the platform through time. And and what that means for our clients is regardless of what sector they’re in in the industry. So whether I’m an insurer or whether I’m an MGA, whether I’m a third party administrator, maybe I’m a a a commercial insured, and and I I self insure some of my lines of coverage, the innovations that we drive for one part of the market are immediately accessible to all of our clients. And that has really been the key for us, and it was the cloud that unlocked that. It was our ability to focus on driving innovation and driving new features and to spend our r and d dollars, you know, on what mattered to our clients and not on the environment that, you know, supported the application that really let us grow so quickly in terms of our functionality and our offering and to thrive with our clients. Next slide, please. And so from a core perspective, if we think about the core, what that has allowed us to do through time is to on top of the basic core application, claims, policy billing, which we’ve built kind of through time and rolled out in each of those markets, you know, we have solutions that are embedded in native in the application. They’re a part of that that single instance multitenant SaaS that allow us on the front end to serve as the the the digital engagement for the stakeholders. Right? Whether those are internal stakeholders, like claims adjusters or supervisors or underwriters in the case of a policy administration or whether they’re external, like agents or vendors or even the claimants themselves, you know, we’re able to leverage the same technology that we bring to bear when we are serving those TPAs, serving those commercial insureds to build a solution that that can be, you know, provided and to provide value to those customers of our customers. So that’s a functionality that you could take advantage of that is is a part of the platform. And then if we look further down in the platform, things like the workflow and rules engine, document production and management, loss control, and actual risk management, or even BI, you know, dashboards and analytics, the reporting that that Wayne mentioned when when he was discussing it. All of those are functionalities that that traditionally, are outsourced or done, you know, via another system and then plugged into an an ecosystem for an insurer. And we certainly do work with insurers who have other technologies they bring to bear, we’re able to, you know, easily integrate via API with those layers, when necessary for an insurer. But we can also bring solutions that are native and a part of the application, which does help to drive down the the total cost of ownership for our for our insurer clients. So a a lot of benefit just from driving all of that innovation and all of that functionality in into a true single multitenant, you know, platform. You know? Certainly, the AWS environment that we started with, they’ve obviously proven out their concept as as most every large vendor that we know, you know, has is either using AWS or or one of the the couple of competitors that are at that level. You know, for us, what that’s provided us, built in redundancy and resiliency. And these are things that that Martin mentioned in his section. You know, we don’t have to think about and worry about redundancy and resiliency and and and disaster recovery the way that somebody who has, you know, worked in an environment where they own it and colocate or where they’re responsible for the hardware does, because that is all handled for us as a part of that that, you know, architecture. It it lets us focus on continuous product updates, and that is across every one of the markets that we serve. Another thing that Martin mentioned, which is important to to point out and highlight and emphasize here, because from the beginning, we were we were cloud native, single instance, multitenant SaaS, we had to design the system and architect the system in a way that allowed each of our clients to to easily make the changes necessary to support their unique workflows, their unique capabilities to provide the services that that they want to provide to their customers. So we had to have a system from the beginning that was architected to be low code, highly configurable, flexible, and scalable to support that for our customers. So so those for us have been the the true benefits of that, you know, choice that we made, you know, very early when it was, you know, not as popular in the insurance world to to host, clients’ data in this kind of scary new thing called the cloud, but it has been a tremendous advantage for us, over over the last twelve years. So, you know, really, really important decision that we made early. Next slide, please. And so for us, as I sort of summarize and I think about that that journey and and all that the cloud has allowed us to provide, if I had to boil it down and say, what has it allowed us to to, you know, to provide to the market as a differentiator from other types of technologies? And and and the first one is modern. And what I mean by modern, modern gets thrown around a lot, and and modern is really a point in time word. Something is only modern at the point that it is released typically. What what the cloud has allowed us to do is to remain perpetually modern. So our architecture, our environment, the tools that are used behind the scene, whether they’re related to security or disaster recovery or the ability to auto scale, have all continued to evolve through time. You know, technology is constantly changing. There are constantly new technologies brought to bear. We have the advantage because of our architecture of bringing that new technology to to to our clients in a way that doesn’t impact them at all. Right? It it is constant and ongoing, that sort of perpetual modernization, and it’s handled because of our design where we are, you know, cloud native, and and we’re taking advantage of an even much larger scale across all of the AWS clients. So that ability to remain modern is a real differentiator for us. Another one for our clients has been speed to value. And this is related to a couple of things. One is there’s never a concern about how you need to set up and configure your technology environment. The decision doesn’t even factor in. Much like the Salesforce model that Martin referenced, nobody thinks about how they’re gonna you know, what hardware they need to support their Salesforce. That’s handled for our clients. It and it makes that it it takes that piece away from that initial decision when you’re gonna implement a new technology. And the second piece, which we’ve already discussed, is is that that natural, ability to configure the software easily that’s required to be a cloud native application. That means that by nature, those tools are available to our clients in a format via the front end that makes the the system much easier to configure. It doesn’t require an army of developers to make client specific changes to allow that client to design the system, their workflows, you know, their day to day, you know, interactions with the system, the way they want the system to look and feel. All of that can be done through configuration. Again, that helps to shorten the time frame that it takes to get an implementation done and ultimately drive speed to value, a quicker return on the investment that you’re making in the technology to help you focus as a customer on growth. And that’s really important. And when we think about growth, the other benefit or differentiator that we’ve gotten out of our cloud native environment is is future proofing, and that is for us and for our clients. And it’s the idea that that every time we we roll out a new innovation, whatever market that innovation is designed for originally, that technology, that innovation is available to all of our clients across all of the markets that we serve. And none of them have to think about it. None of them have to go through an upgrade process to get it. It’s as simple as as, you know, reading a reading a a release note and and the instructions for enabling the new functionality, if you wanna experiment with it and ultimately roll it out to your customers and your internal staff, you know, that’s just available to our clients. So it is a very different model for delivering software and keeping that software current. And our clients that joined us in the very beginning in twenty ten are on the same exact version and have been able to take advantage of every single one of those innovations that we’ve made as we continue to grow without ever having to think about an upgrade process or upgrade path or how they’re gonna stay current with technology. So from our perspective, these were these were, you know, certainly things that we thought of when we started. We we knew that there were benefits to the cloud, but really have have been proven through time as we’ve worked with our clients and expanded and grown. And next slide, please. And what it has allowed us to do is is in a single, you know, single instance multitenant platform, grow from kind of those first couple of clients who were were willing to take a a a gamble on a a young startup that was hosting data in the cloud, you know, and and and were willing to say, yes. We think this is the future. To today, serving over nine hundred clients across the entire insurance value chain with over five hundred thousand users hitting our system. You know, in in the claims world, we have over three hundred clients that are that are adjudicating claims in our system. And all of this growth has been accomplished without us having to think about redesigning our system, about the hardware behind it without having to worry about scalability or performance because the system is designed to automatically scale and to be performant. It’s designed to automatically stay current. So, you know, just an incredible choice that we made early on. We really do, you know, appreciate the value that the cloud, and being cloud native, being a true single instance multitenant cloud provider has brought not only to Origami as an organization, but to every one of our clients. It it has it has been a fantastic journey, and and we look forward to, you know, continuing to see what comes next in technology. Alright. And and with that, I would like to, you know, kinda turn it over Wayne, and and Martin, as we near the end of the the webinar. I’d like to get any final thoughts that either we have. Martin, I’ll start with you. I I think the only thing, that I would add to to to to Wayne what Wayne has already said and what you’ve said, Chris, is I think it’s, you know, it’s super critical. You know, this this may be, you know, especially the way that things are going with with cloud and technology. The the next administration system that you that you select, you certainly want it to be maybe the last administration system you select. So picking one with, you know, a solid technology foundation that isn’t gonna require, you know, major significant updates in the future while you’re essentially running on the system is a is a really important aspect to consider. Technology isn’t everything, but good good technology, good technology foundation can help with with a lot of other considerations with the system. So that’s I I just you know, I think that’s a really important aspect of it. A lot of it what we have talked about today is is technology related, and it can you know, it has a significant impact on on the the future success that you can have as an insurer on a software solution. Good insights. Thank you, Martin. And and, Wayne, any closing thoughts? Yeah. I would just reiterate the exact point Martin made. You know, coming from a prior life of an on prem solution where we had to spend unlimited amount of time and time, people, and dollar resources for upgrades and new capabilities to a process now with Origami where we seamlessly take all new capabilities with minimal impact. What it allows us to do is allocate those other resources to other critical aspects of our business, and we believe that’s a true competitive advantage. Thank you. That’s that’s that’s a great point, Wayne. I I’d like to thank both of you guys. I I know you have very busy schedules. This has been a huge insightful, so so thank you to both of you. For those on the webinar, if you’d like to learn more about how our Origami Risks multitenant cloud platform can help deliver speed to value, flexibility, and innovation for core P and C insurers, I invite you to download our free ebook at origami risk dot com forward slash understand cloud, and you can see the link on the on the presentation on-site. You can also learn more about origami risk and view the Hartford Mutual implementation case study at origami risk dot com forward slash insurance. Thanks for joining us today, and goodbye.