NU Online News Service, Feb. 29, 3:58 p.m. EST

Faced with the daunting task of improving margins in an economically strained environment, insurers are finding ways to increase efficiency, and many see policy administration as an area where technology can accomplish that goal, according to a recent report.

This week, the consulting firm Capgemini and Efma (European Financial Marketing Association), a bank and insurance industry association, both based in Paris, released their World Insurance Report 2012. The report says that as investment income has declined, the property and casualty insurance industry is “forced to concentrate on improving the building blocks of underwriting performance: claims, and operational and acquisition ratios.”

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