There's little doubt in Steve Boyd's mind that 2009 was a year that called for turning to insurance technology to help ride through the storm. As Boyd, COO of Arrowhead General Insurance, explains, “When you are in a situation where you are dealing with fewer premium dollars going around, you need to have more of a razor focus on things.”
And for many IT leaders, that razor focus was directed toward finding innovative ways to make their operations more efficient and profitable.
Kimberly Harris-Ferrante, vice president and distinguished analyst with Gartner, believes 2009 was unprecedented for the insurance industry. “There was less money being spent by the industry on technology,” she says, and “that had a huge impact on project plans, vendor financials, and industry trends such as consumerization.
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