Given the uncertainty of today's economy, IT departments may be asked to cut expenses. In January 2008, Insurance Networking News reported that overall IT spending for 2008 will increase—although, forecasters predict the increase to be relatively small.

“Based on benchmarking data, insurers’ IT spending has been rising slightly in the past few years, and we expect that to continue,” says Jack Tyniec, senior manager, Insurance Benchmarking Center, of New York-based Deloitte Consulting LLP.

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