For U.S.-based insurance executives, regulatory issues have surpassed cost consciousness as their predominant concern, according to KPMG’s “2013 Insurance Industry Outlook Survey,” and shifting demographics and digital technologies are prompting increased investment in information technology to increase operational efficiencies, gain insights and engage customers.
More than half of the survey respondents said they are increasing technology investments, specifically in IT infrastructure and data analytics. Almost three-quarters reported an increase in revenues compared to last year, and 81 percent said they expect revenues to increase in 2014, which is 15 percentage points more than in 2012.
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