FWD Group, a leading insurance provider, has announced a five-year agreement for technology services with Amazon Web Services (AWS) as part of its cloud-first strategy.
The move is set to enhance its digital infrastructure and capabilities by leveraging AWS’ expertise in cloud and AI technologies to drive innovation and customer-centricity
AWS will continue to host core business applications for FWD Group, providing greater agility, scalability, and resilience as FWD progressively moves away from operating its own onsite data centres.
FWD Group is focused on delivering innovative insurance solutions to its customers. With a digital-first mindset, the firm has prioritised cloud computing as a holistic business strategy, integrating cloud-based infrastructure and capabilities across its business functions.
AWS offers a wide range of cloud services, including computing power, storage, and AI technologies. Its collaboration with FWD Group underscores its commitment to supporting companies in the financial and insurance industry to drive digital transformation and enhance customer experiences.
Sandeep Pandey, Group Chief Technology & Operations Officer of FWD Group, said, “At FWD, cloud computing is a holistic business strategy, not just a priority for the technology function. This digital-first mindset has delivered operational infrastructure and capabilities that are not only secure and cloud-based, but also fully integrated across business functions and with valued partners like AWS. With these foundations in place, we can now further scale our generative artificial intelligence (AI) deployment in an efficient, effective and responsible way, in line with our vision of changing the way people feel about insurance.”
The adoption of cloud technology has brought significant benefits to FWD’s software development and deployment processes, resulting in faster time-to-market and improved customer experiences.
By the end of 2023, a notable 97% of FWD Group’s applications had completed migration to the cloud. This marked a substantial increase from the 27% recorded as of 31 December 2020.
Moreover, 93% of these applications earmarked for retirement have been successfully decommissioned, reflecting the company’s commitment to modernising its technology infrastructure and optimising operational efficiency.
Francessca Vasquez, Vice President of Professional Services and Generative Artificial Intelligence Innovation Center, AWS, added, “AWS has been supporting companies in the financial and insurance industry around the world to better serve their customers with its cloud and AI technologies for more than a decade. FWD Group’s ambition of harnessing the power of cloud and generative AI demonstrates their commitment to digital transformation and customer-centricity. We are excited to continue supporting FWD Group with AWS’s proven reliability and capabilities, helping them accelerate innovation, save cost, drive efficiency and expand their business.”
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