The biggest hurdle to executing capital utilization plans for P&C insurers? Technology, according to 44% of respondents in Towers Watson in its "P&C Insurance CFO Survey."
Chief financial officers also say that data, human resources, know how and timing (all 30%) are the next biggest challenges to implementation.
To address that need, half of all respondents plan to add additional capital deployment to analytics, data and other technology-related areas in the next one to two years. CFOs say they are somewhat or very likely to invest in core systems in pricing (74%), underwriting (74%), marketing/sales/distribution (65%), product development (65%) and claims management (65%).
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