Insurance companies are under tremendous stress since the pandemic. In such trying times, they have been forced to explore new ways to cut operational costs while ensuring profitable growth by expanding into new markets and innovating products. The key to this new normal is data and analytics, which drives decision-making in the insurance value chain. In the last couple of years, multiple cloud-based technology platforms have emerged with advanced analytical capabilities that are more accessible and affordable. Insurers need to redefine their data strategy to take advantage of a multi-cloud technology ecosystem with advanced analytical capabilities.