Wondering where insurers are planning to spend their IT dollars in 2011? As part of its annual look at insurers' technology budgets, Tech Decisions magazine asked five insurance technology consultants what areas are primed for investment as well as what they think the leading trends will be. Below is a peek at their responses.
"Many executives are asking for iPads and the CIOs and CTOs are wondering how they can secure them. IT security is taking on a different level of maturity." –Deb Smallwood, Strategy Meets Action (SMA). Click here for the full interview.
"[Carriers] are just not replacing people. They are buying technology to do that. They are replacing those people costs with technology and using it for better underwriting and better claims processing. If people go to another job or retire they just are not getting replaced." –Ellen Carney, Forrester. Click here for the full interview.
"Some companies are looking at organization-wide expense reduction and operational effectiveness as major drivers. Other than some of the larger life/annuity companies, we're not seeing compliance or investment-market losses driving a lot of action." –Mark Josefowicz, Novarica. Click here for the full interview.
"Investment is going up drastically this year as companies say they have more data than they possibly need." –Kimberly Harris-Ferrante, Gartner. Click here for the full interview.
"For P&C insurers there is more spending on distribution systems, analytics, and some infrastructure rationalization." –Craig Weber, Celent. Click here for the full interview.
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