A new survey by Ireland-based Accenture finds insurers shifting their spending priorities to buttress multi-channel distribution and employ mobile technologies.
The study, which queried senior executives at 125 life and property/casualty carriers around the globe, estimates that insurers plan to invest $84 million, on average, over the next three years to improve their technology underpinnings. Indeed, the emergence of new technologies was the most widely cited factor (85 %) by insurers for making decisions to invest in distribution over the next three years, followed closely by changes in customer needs and attitudes (84 %).
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