According to a recent report from Strategy Meets Action (SMA), analytics and mobile are the top priority for technologies this year. As commercial lines carriers rely on big data to improve underwriting claims, insurers continue to invest heavily in business intelligence and analytics.
The report, "2014 Insurance Ecosystem: Insurer Technology Spending, Drivers and Projects" reveals optimism for the future of the insurance industry, as insurers are preparing for growth to adapt to the foreseeable changes in in the market.
IT investments, in particular, will continue to grow, as more insurers are willing to leverage the benefits of business growth, optimization, customer service and cost containment drive the industry, and are necessary for maintaining a competitive advantage in the coming years.
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