Singing a new tune compared to past years, insurance CIOs are optimistic about IT’s role in the business. Celent’s latest report, “2012 US Insurance CIO Survey: Pressures, Priorities—and Innovation,” indicates that half of the survey respondents are projecting revenue growth of 4 percent or more and almost all of the others estimated moderate growth of 1 to 3 percent.
Also, the business is asking IT to play a greater role in growth and profitability. The CIOs responding to the research firm’s survey contend that to do so, they are accelerating core system and back-office systems initiatives, namely policy admin and claims systems projects. However, the survey points out, new business/underwriting is becoming more of a focus. “This emphasis reinforces what Celent has heard in other conversations with CIOs and vendors regarding an increasing level of interest in portals, new business and underwriting solutions,” the report states.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access