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Insurance carriers have adopted a strategy of “inspired frugality” in relation to their spending on security, according to Forrester senior analyst Ellen Carney.

In Carney’s definition, the term indicates a state where insurers have elected to delay security projects or upgrades over the past 18 months, even as the introduction of new technology has added complexity to their security environments.

“This reluctance can be traced to a lack of visibility and weaker skills to build the security business case,” writes Carney in a research paper, “Banking and Insurance 2010: IT Security Budgets and Spending.” “Proactivity is a must, meaning vendor sales teams must be enabled with examples, case studies, and objective ROI business-case tools that can move stalled or cancelled projects forward.”

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