The insurance industry is rapidly embracing Service-Oriented Architecture (SOA), as well as related Web services and standards, according to new TowerGroup research conducted in partnership with ACORD.

The industry survey was designed to gain an understanding of the readiness, state of adoption and challenges of SOA, Web services and use of standards across the insurance industry, said Needham, Mass.-based TowerGroup.

For its study TowerGroup interviewed senior leadership executives at more than 12 carriers and conducted over 150 hours of data gathering and analysis across the industry (covering property-casualty, life and annuity, and reinsurance).

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