It has never been more important for insurers to be adaptable to changing business conditions and competitive environments, and to be able to innovate new products and service offerings for a market in flux.
As with most things in this information-based industry, improvements in IT capabilities are critical to enhancing agility. More agile IT groups make more agile business practices possible. IT plays a critical role in fostering innovation by scouting new technology capabilities and enabling pilot projects, although properly structured organizational incentives are the limiting factor for most insurers when it comes to driving innovation.
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