Search
 

With technology spending increasing in some insurance verticals, IT perhaps is glimpsing a bit of light at the end of the cost-reduction tunnel. Still, technology executives need creative strategies and carefully forged alliances to get the approval on new projects.By Michael P. Voelker

Cautiously optimistic.Those two words sum up the outlook for technology spending at insurers in 2004. It may not sound like much, but after a long ...

By Michael P. Voelker | Updated on December 31, 2003

Cautiously optimistic.Those two words sum up the outlook for technology spending at insurers in 2004. It may not sound like much, but after a long stretch of flat budgets, even guarded optimism is reason for some celebration.

We are starting to see an increased willingness to pursue projects, says Paul McDonnell, senior vice president and insurance segment leader at Bearing- Point. Based on the past two to three years, there is a bit of pent-up demand, and we believe that 04 is the year things might start to improve.Just how big that improvement will be is open to debate (see Cautious Optimism Defined, p. 19), but dont expect a return to the heady days of the 90s any time soon. Instead, count on the budgetary discipline learned over the past years to have long-lasting impact.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.