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Novarica Report Shows Benchmark Data on Insurance IT Budgets

External benchmarking data is an important tool for insurer CIOs in both self-assessment and communication with senior business management.

By staff Writer | Updated on September 12, 2010

External benchmarking data is an important tool for insurer CIOs in both self-assessment and communication with senior business management. Benchmarking is the subject of a new report from Novarica, “U.S. Insurers IT Benchmarks: IT Supply and Demand” written by Matt Josefowicz, director, insurance, for the research and advisory firm.

Benchmark data can provide support for spending and budgeting decisions, explains Josefowicz, and can highlight potential areas of concern that may not be noticeable without external reference points.

The Novarica report presents an analysis of responses to the Novarica insurance technology research council’s quick benchmarking poll, which takes a supply and demand approach to IT rather than focusing exclusively on spending levels.

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