IT spending for property/casualty insurers is expected to increase by a strong margin–7.4 percent–according to the fifth annual joint IT spending survey conducted by Gartner and the Property Casualty Insurers Association of America.

This figure is well above the the 2009 figure from last year’s survey that forecast a spending increase of just 0.2 percent. This year’s survey predicts a revenue increase of 5.3 percent, which is in line with the 2009 figure.

“This study is the most comprehensive IT expense statistics study in the property and casualty industry,” says Scott Joyner, vice president, information technology for PCI. “The 21 PCI member companies that participate in the study averaged $639 million in revenue and 511 employees.”

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