The insurance industry has long been accused of being slow to adopt new technologies. And so it goes with Web. 2.0. But in this case, insurers, along with industries across many vertical markets, are beginning to understand the breadth and depth of this technology’s power—and its return on investment.

“Every new technology has its skeptics,” note Jacques Bughin and Michael Chui, authors of a McKinsey Quarterly Report, The Rise of the Networked Enterprise: Web 2.0 Finds its Payday. The report is derived from information developed out of McKinsey’s annual Web 2.0 survey (it’s fourth), which garnered responses from 3,249 executives across a range of regions, industries, and functional areas. Two-thirds of the respondents reported using Web 2.0 in their organizations.

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