Is your company getting the most out of the technology tools that are available in the enterprise? A number of insurance professionals in Europe apparently don't believe they are getting much value. In a survey conducted by Clear Path Analysis, 85 percent of insurance risk professionals report that in the approach to Solvency II, Europe's regulatory requirements for the insurance industry, they are under-utilizing technology.

The survey of insurance technology professionals who specialize in risk management shows 74 percent believe one of their priorities must be to rationalize which operation areas technology systems must address.

Forty-seven percent of respondents to the survey report they are resisting acquiring new systems due to the challenge presented by engaging staff and outsourced providers to use new technology, and 29 percent would like technology to get as close to real-time transparency as possible on the operational and business risks that they face.
It's always interesting to see how our European neighbors are addressing some of the same issues insurance carriers in North America are facing. The 85 percent figure under-utilizing technology is a bit staggering, though.