Industry Research: Carriers Need Refined Metrics For Measuring IT Results

Insurers have invested significant amounts of capital on technology based on the belief that those investments will improve their top- and bottom-line performance. However, new research indicates that carriers are experiencing mixed results to date and they're seeking refined metrics to measure how technology is impacting their operations.Those are some of the conclusions of a recent survey of 248 North American financial services firms conducted by Tillinghast-Towers Perrin. The survey is the second in a series of industry studies conducted by the management and actuarial consulting firm intended to learn how new technologies are impacting carriers' performance, and how carriers are measuring the success of IT implementations.

Taken together, the two surveys reveal that while a majority of survey respondents have experienced significant improvements in various business operations from their IT investments, there has been less success measured for distribution and customer management, and company and customer profitability.