The current global financial crisis continues to impact insurers. With the economy at low ebb, industry professionals do not foresee noticeable improvements in business performance in the imminent future. They have, however, cultivated a positive outlook for next year, according to Celent, a Boston-based financial research and consulting firm.

Celent recently surveyed insurers and vendors to gather perspectives about the ramifications of the credit crunch, releasing its findings in the report, "Handling the Crisis: Update on Q1 Insurance Industry Expectations and Strategies."

According to the firm, insurers are "pessimistic about the outlook for the broader economy, but remain bullish on their own companies' strategies." Sixty percent of the insurer survey respondents expect their companies to be doing considerably better or somewhat better 12 months from now. In addition, respondents as a group are confident that they are employing the appropriate proactive approaches to succeed in both the short and long terms.