The Next Big Thing

Insurers' focus today is on solving known problems to compete.

By Matthew Josefowicz

In the economic crisis that began the last decade, many insurers looked at IT as part of the problem. In the most recent economic crisis, IT has been viewed as part of the solution. As insurers position themselves to take advantage of the recovery, they acknowledge the mature markets are unlikely to grow significantly and any significant growth will come from outperforming their peers. They remain committed to making continued technology investments improve customer and distributor service, achieve faster time to market, and use enterprise data to make better decisions in marketing, product design, risk management, and operations.

For 2010, most insurers' top projects are similar to those in 2009—policy administration systems, agent portals, and business intelligence. There is some increased prevalence of claims projects among larger property/casualty insurers and of policy administration among life/annuity/health insurers compared with 2009.

WEBINAR: The Road to Recovery - How to Position IT for the Business Push

Thursday, February 25 at 2 PM EST

Will your business bounce back in 2010? Learn what you need to do now to make sure your profits grow in this Web Seminar. Join us as industry experts and advisors discuss their forecasts for this year. Plus, you'll have a chance to ask your own questions.

What you'll learn: