Chicago – It’s not just an ocean separating American insurers from their cohorts in Europe. New research from Boston-based Celent LLC, a division of New York-based Oliver Wyman, notes similar yet divergent challenges and opportunities facing insurance CIOs and CTOs on each side of the Atlantic.

According to the survey, in the United States, maintaining growth in a softer, more uncertain market by investing in new business and underwriting solutions along with upgrading other core systems, is the top priority. Celent’s study asked 28 participants–mostly CIOs and CTOs from U.S. insurers with annual premiums over US$100 million–about their IT investment plans in 2008.

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