The global insurance industry experienced a 65% drop in company filings mentions of cloud in Q3 2022 compared with the previous quarter, with the highest share accounted for by American International Group(AIG) with 150% year-on-year increase, according to GlobalData’s analysis of over 35 insurance company filings.
Notably, cloud was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of future of work and industrial automation, according to GlobalData’s whitepaper on Cloud in Insurance – Filings Trends in Q3 2022.
Of the 50 leading companies in the insurance industry, American International Group(AIG) had the greatest increase in references for cloud in Q3 2022, compared with the previous quarter. GlobalData identified 5 cloud -related sentences in the company's filings - 14% of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. Willis Towers Watson’s mentions of cloud rose by 50% to 3 and Travelers Companies’s by 100% to 2.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q3 2022 was 105.