It's a trend that grows more apparent month by month. A lot of technology spending is occurring outside the IT department – on cloud services, on digital and social media marketing, on mobile devices and services, on PC or tablet front-end applications. Some pundits predict that average corporate tech spending outside the IT department will exceed that of IT departments, if it hasn't already.
Many insurers are increasingly evolving into digital businesses, deriving competitive advantage through data collection and analysis, forging powerful electronic links with customers, agents and brokers, and enabling straight-through processing for real-time application approval and claims processing. Many of these opportunities are outside the traditional realm of the CIO, who is focused on maintaining and upgrading back-end systems, enterprise applications and data repositories.
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