New York — Facing the worst investment market crisis in generations, and a paralyzing credit crunch, insurers are not turning away from needed IT investments. Such are the findings from a survey taken in October by New York-based Novarica of 40 U.S. property/casualty and life/annuity insurers, across all sizes of companies and most lines of business.

In its latest report, Novarica paints a probable picture of the 2009 insurer IT landscape. “While many insurers are delaying or postponing IT initiatives, most of these are related to infrastructure or back-office functions,” notes Matthew Josefowicz, director of insurance at Novarica and author of the study. “Customer-facing systems and core capabilities that directly affect competitiveness are mostly going ahead.”

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