Whats on the minds of your fellow CIOs? A recent survey shows investing in growth not just for the short termhas moved up on the to-do list.
For the last few years, insurance IT leaders have been almost maniacally focused on cutting costs, but as weve entered 2005, some of the reins have been loosened. Investment in systems and tools that support growth has passed cost cutting on the technology fast track. There is a primary focus on supporting growth and a secondary focus on cutting costs, says Matt Josefowicz, manager of the insurance group at Celent Communications.
Celent recently completed its annual survey of insurance CIOs and CTOs on their pressures, priorities, projects, and plans. Josefowicz points out lowering expenses never will be extinct in the industry. Cutting costs has not moved off the board in any way, it just moved down a notch, he says. There always is more to cut. The day the insurance industry is as efficient as it can be is a day far, far in the future.
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