IT Moves Up Insurer Ranks

NEW YORK -According to research by Rebus iS, 88% of US insurers think that information technology will become more important in driving efficiencies and cost reductions in future. Some 55% of respondents stated that IT is currently playing an “important” role in driving efficiencies and cost reductions, and 43% said that it was “essential” to business efficiency. According to Rebus iS President Martyn Sutton, insurers’ focus has shifted from delivering new services and offering e-commerce applications to using IT to drive efficiency across the enterprise and driving down costs. “A quarter of the insurers we spoke to concurred that the greatest IT challenge that will be facing their organization in two years time will be remaining responsive to the changing demands of the market,” said Sutton. “IT is now at the heart of business strategy for companies in this sector, whereas previously it has been viewed as a grudge spend for insurers.”