No insurance company should keep on-premises compute grids for actuarial computing. In the past, resistance to the cloud went along these lines: the cloud has a lack of data security, the cloud is expensive, and no one has experience with the cloud. But those arguments are out of date.
At this point, all insurance companies see the increasing demand from growth in the number of policies processed, and new regulations that require changes to the actuarial and accounting systems. IFRS-17 requires changes to workflows, reporting and control throughout the actuarial and accounting process. Now is the time to move to a cloud-based solution on Azure.