The insurance industry received repeated criticism for failing to develop e-business capabilities quickly enough during the dot-com frenzy. Now, it appears that insurance companies are catching up with competitors in other sectors of the financial services industry.That's a conclusion of a recent survey of 150 North American financial services organizations conducted by Chicago-based research and consulting firm Andersen (formerly Arthur Andersen).
In a similar survey conducted last year, Andersen found that the insurance sector ranked lowest in the financial services arena for e-business effectiveness. This year, however, insurers pulled ahead of asset management firms-which includes companies such as Invesco, Janus, and Fidelity-to achieve a favorable ranking with the banking and lending segments (see chart, pg. 8).
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