As insurers devote funds to startup partnerships and new technologies poised to disrupt the industry, IT budgets remain consistent—but whether that's a good thing is a matter of perspective.
According to new research from Novarica, “Insurer IT Budgets and Projects 2017”, more than half of P&C insurers and 40% of life carriers are currently engaged in core replacement initiatives. Yet, IT budget ratios continue to straddle around 3.7 percent of collected premiums.
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