Of Special Interest


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14th August 2011

Insurers to spend more on IT says research

Insurance companies will be spending more on IT in the future, according to a new report, with 47% of such firms looking to do this.
Ovum's Business Trends: Global Insurance Technology Investment Strategies paper indicated that confidence for IT budgets in 2012 will be much higher than this year, with some companies intending to increase expenditure significantly.
Barry Rabkin, insurance technology principal analyst with Ovum, noted that two-thirds of those asked said they would most likely invest in customer relationship management systems, while nearly half have either been experimenting with cloud computing since 2010 or plan to do so before 2012.
This shows 'they have grasped the potential benefits it can bring', Rabkin remarked.
In June, Ovum also revealed that nearly three-quarters of organisations deployed green IT in the latter half of 2010, up from around 68% in the first half of the year, with many waking up to the benefits and cost-savings of such practices.