Stamford, Conn. — It’s no secret that the cycle of economic conditions have, in the past, forced insurers, banks and investment firms to embrace technology in order to defend their competitive position. But, whether it’s wise for insurers to cut IT spending at this point remains a question.
Results of a survey of more than 350 attendees of the Interop Las Vegas conference, held in late April, indicate that a 2008 recession will affect IT spending for 52% of participants. Conducted by Astaro Corp., a Burlington, Mass., and Karlsruhe, Germany, provider of security technology, the survey notes an increase of nearly 20 percentage points from Astaro’s last survey at the RSA conference in San Francisco just three weeks earlier, in which only 33% of respondents anticipated a recession impacting IT spending. Astaro reports that the possible reasons for the discrepancy between survey results from each event range from the event focus, attendee demographics, and changes in IT spending concerns due to continued media coverage of an impending recession, notes the vendor.
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