Cloud giant
IBM Cloud has signed up Canadian property and insurance company Economical Insurance as a customer. IBM has headquarters in Armonk, New York, United States. The company has been traditionally recognized as a software and hardware provider, but after its acquisition of SoftLayer in 2013, it emphasized its cloud capabilities to customers. These include ‘Big Data’, machine learning solutions, and ‘Internet of Things’ (IoT) offerings. Economical Insurance will leverage IBM Cloud’s offerings to “drive innovation and scale”.
Economical Insurance was established in 1871 and is “one of Canada's leading property and casualty insurers”. The company has headquarters in Waterloo, Ontario, Canada, and as of March 31, 2018 it received $2.2 billion in insurance premiums. IBM Cloud will modernize the company’s IT infrastructure. The two companies will work together to establish a hybrid cloud platform that will enable Economical Insurance to “scale quickly in order to meet rapidly changing customer preferences”. IBM will also deliver aspects of Economical Insurance’s ‘Vyne’ broker service and its Sonnet digital direct offering.
"We have an ambitious strategy to put the customer first while driving profitable growth and delivering innovation for Economical and our broker partners," explained Economical Insurance’s SVP and Chief Information Officer, Kelley Irwin. "We are also focused on ensuring we have a scalable, secure platform. A hybrid cloud environment is the best way to support our business with the speed and flexibility needed for our future success. The IBM Cloud helps us reduce development time, increase agility, and maintain security."
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