The financial crisis has triggered a recession of frightening potential and unknown duration, leading to dramatic declines in consumption and capital investment across the economy. For many cash-strapped businesses, this is either rational or mandatory. But should the insurance industry react similarly? Specifically, does it make sense for carriers to refrain from making strategic IT investments in these economically challenging times?
I argue that the industry's unique characteristics, as well as a sensible contrarian investment theory, suggest that strategic IT investments have never been as vital and as potentially rewarding as they are today.
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