Insurers' IT budgets are up 6.3% this year, report says

04/28/2013 | Insurance Networking News

Insurers have raised their IT budgets 6.3% this year, with up to 4.5% of direct premium allocated to IT initiatives, according to a Celent report. Policy-administration efforts are a priority for new-project resources, and insurers' interest in underwriting solutions is on the rise, the report said. "Insurers who view innovation as integral to their business are focused on creating the right organization for identifying and deploying innovative projects," many of which are "IT-led initiatives," said Celent's Chuck Johnston.

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