Fewer than 70 percent of P&C claims executives are satisfied with their catastrophe-related data management, and while the P&C insurance industry aspires to become customer centric, the IT funding required to achieve that goal is not available, according to “North American P&C Claims Executives and Claims IT Resources: Playing Shorthanded,” a report from Aite Group.

“The disconnect between demand and available budget clearly illustrates the fiscal constraints and competing priorities that all claims executives must balance,” said Stephen Applebaum, Aite Group senior analyst and author of the report. “This conundrum is driving claims executives to focus on what they perceive to be the best opportunities in terms of return on investment and alignment with corporate strategy.”

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