Maybe the future isn’t so bleak after all. While a number of analysts already have gone on record saying IT spending for insurance companies will likely rise slightly or remain flat in the coming year, a pair of new reports from insurance analyst and consulting firm Strategy Meets Action (SMA) paint a remarkably optimistic picture, with 76% of survey respondents indicating they will increase or hold budgets steady as 2010 begins.
These findings contrast with research published earlier this month from Gartner and Property Casualty Insurers Association of America, who found in their Information Technology spending survey that the planned increase in IT spending for insurers will only rise about 0.2% from 2009 to 2010.
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