Strategy Meets Action (SMA), an insurance analyst firm, has announced the launch of its Insurance Ecosystem Research Series and the availability of the first two reports in the series, "The Insurance Ecosystem: A Guide to the Marketplace," and "Riding the Wave: Insurer Technology Spending, Drivers, and Approaches."
The research results paint an optimistic picture, with 76 percent of those surveyed indicating they will increase or hold budgets steady as 2010 begins. The number-one business driver for technology decisions identified by 66 percent of survey respondents is growth, with most insurers focusing on growth in current lines and current markets.
To drive this growth, IT spending continues to shift toward the front end of the value chain, with 66 percent of respondents planning to increase spending in marketing and product development over the next three years.
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