Among property and casualty insurers the fastest to adopt innovative new information technology are those with a wide variety of product lines, according to a new study.
That finding was part of a report by Strategy Meets Action (SMA), titled "Catching The Wave: Insurers' IT Buying Behaviors," examining what it said is $20 billion in yearly spending on IT by North American p&c companies.
The firm said insurers' IT investment emphasis is shifting to areas of marketing and product development, and the areas of distribution and underwriting will receive even more attention than usual.
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