Transformation is difficult for many insurers, due to requirements for time, people and resources. For several years, the insurance industry has been attempting to evolve the business through new strategies, emerging technologies and legacy modernization.
Speaking at ACORD LOMA 2014 in Orlando, Fla., Kimberly Harris-Ferrante, vice president and distinguished analyst for Gartner Research, graded the P&C industry on eight top business trends for 2014 and highlighted how to drive transformation through best practices.
"In two, three or four years from now, the world is going to be different," she says. "Tradition is really holding us back."
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