In ACORD LOMA Insurance Systems Forum’s intense distillation of the technology issues confronting the insurance industry, analysts Kimberly Harris-Ferrante of Gartner, Matthew Josefowicz of Novarica and Mike Fitzgerald from Celent addressed, discussed and debated the issues keeping insurance industry CIOs up at night, including the pace of change, consumer expectations and the reality the industry’s reliance on legacy systems.
“What IT decision makers need to realize is that consumers are changing at a faster pace than the insurance industry is,” said Harris-Ferrante. She said changes in technology, consumer behavior and social media usage are accelerating the perception that insurance is a lagging industry, and the industry needs to make efforts to change, and quickly.
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