There are worse things in life to be called than practical. So it shouldn't come as much of a surprise that insurance professionals chose that word to best describe their relationship with technology. The only surprise is that the word “conservative” didn't end up a little higher in the survey.
IVANS, the membership cooperative that helps insurers increase sales and improve customer service through technology, released its Technology Lifecycle Survey in September. It asked insurers to describe their company's approach to adopting new technology. Almost 78 percent of the respondents chose the word “practical” while 16 percent opted for “conservative.” In this context, practical means to use technology to fill a business need for the company, while conservative means that technology needs to be proven to work in other companies before their company adopts.
Perhaps surprising was the six percent who used the word “aggressive” to describe their approach. In this study, aggressive means willing to try any type of technology to give the company a competitive edge.
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