Product development and configuration are top-of-mind issues for insurers and unlikely to disappear for the foreseeable future, as many insurers find IT environmental issues tough to overcome, according to “Product Development: Insurer Plans and Priorities,” a new report from Strategy Meets Action.
The top three challenges cited by product developers were: having to make changes that affect multiple systems (63 percent), lacking IT resources to support implementation of the changes (58 percent) and the timeliness of implementing changes in IT system (55 percent), SMA said.
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