Insurer IT Budget To Rise 10%

With property-casualty insurers becoming more willing to finance new information-technology projects, the p-c sector as a whole will see a 10 percent jump in its IT budget this year, a consulting firm forecast.

“What we are seeing on IT spending is that the budget on the p-c side is really opening up,” said Deborah Smallwood, an analyst at Needham, Mass.-based TowerGroup, whose firm has published a new report on insurance technology trends.

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