Insurer technology demands are shifting from traditional standalone applications, tools, data and services to integrated solutions, according to a technology consulting firm.
That finding came from Boston-based Strategy Meets Action (SMA) as part of its Insurance Ecosystem Research Series reports.
The firm's study of technology solution trends identified an increasing need for convergence within the IT vendor space. "As insurance IT solutions continue to evolve, data and analytical tools/engines are increasingly being leveraged to create offerings with more strategic impact on the business," Mark Breading, SMA partner and co-author of the report, said in a statement.
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