According to a recent survey of insurance industry senior executives, a majority of respondents indicated technology is a critical element of their strategy for improving competitiveness. That’s not surprising considering the important role technology plays in enabling nearly every key insurance business process. What is surprising, however, is fewer than half of those executives said technology actually is delivering that advantage.

With so much riding on technology, getting it right should be as important to insurance companies as, say, underwriting guidelines, product design, or pricing. Why then do many insurance executives report a considerable lag in technology results vs. expectations? And on the flip side, what are IT-savvy carriers doing differently that enables them to deliver great results reliably from technology?

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