In the face of increasing profitability pressures perpetuated by highly competitive marketplace conditions, personal lines insurers are sharpening their focus on business intelligence, policy administration system replacement, portal functionality, and claims systems replacement, according to a report released by the research and advisory firm Novarica.

The report, Business and Technology Trends: Personal Lines, includes data on the marketplace and over 30 examples of recent technology investments by personal lines insurers, in addition to an overview of personal carriers' business and technology issues.

"As the market continues to be soft, we are seeing personal lines carriers looking to invest in initiatives that promote growth strategies, expense reduction, and improvements in underwriting results," says Karlyn Carnahan, a Principal with Novarica and author of the report. "Business intelligence, policy, agent portals and connectivity, and claims are definitely key technology areas for these carriers to help confront stresses on profitability."