One of the biggest challenges for insurance organizations today is maintaining a competitive edge in a crowded, fast-moving industry. To keep policyholders happy and customer churn low, insurance carriers must be prepared to meet the changing needs of insureds – a task made more difficult when your organization opts for traditional payment methods over the online payment options true SaaS software applications can provide.

Anyone who has been involved in purchasing software for their organization has heard of the term SaaS, or Software as a Service. And while many people understand, at least on some level, what SaaS is, it’s often hard to quantify the benefits of SaaS for your organization. For insurance companies, SaaS solutions provide a number of unique benefits that can drive real business results.

As organizations become more familiar with the benefits of SaaS, or Software as a Service, the demand for this delivery model is growing. SaaS, a software model that can deliver automatic updates, enhancements and security patches without cumbersome updates or maintenance, lessens the burden on internal IT teams while allowing your organization to stay ahead of industry trends.  To take advantage of the growing client demand for this model, many software providers claim to deliver SaaS applications, when they are actually offering a traditional hosted or on-premises software solution with web-based access. This practice is known as cloudwashing.

If you have ever purchased software for your organization, you have likely heard the term SaaS, or Software as a Service, used to describe a variety of solutions. SaaS, or Software as a Service, is a licensing and delivery model that offers customers all the benefits of an application without requiring continuous software upkeep by in-house staff or a third party. SaaS applications deliver the latest and greatest through the Internet to a computer or mobile device.