Insurance carriers and agents continue to increase investment in technologies facilitating the independent agent distribution channel despite the recent economic slowdown in the U.S., according to a survey conducted by IVANS Inc.

Ninety-three percent of 341 independent agents surveyed believe that real-time technology is critical to gaining a competitive edge in this economy. Fifty-nine percent of agents will continue to invest in information technology at current levels, while nearly 14 percent are increasing their spending. Agents report seeing similar investment patterns by insurance carriers. IVANS predicts real-time transactions will double by the end of the year.

Ninety-eight percent of agents surveyed download quotes and claims data with more than two carriers. More than half download with more than five carriers. Fifty seven percent of agents are saving up to one-third of their time each week using real-time transactions. With 93 percent of agents projecting that 2008 will be more competitive than last year, these findings highlight that the industry is turning to real-time technology to succeed.