Technology is critical for strengthening insurance underwriting but poor data integration is limiting its effectiveness, a new report by Accenture has claimed.
A significant proportion of the technology investments made by insurance companies are occurring outside the IT budget, according to research by SMA.
The vast majority of companies in the insurance industry are now using predictive analytics software, research by ISO has revealed.
Mobile technology for the insurance industry is maturing as digital teams demand more sophistication and improved result measurements, according to Forrester.
Confidence in the business outlook will see the majority of financial service firms invest in information technology over the next 12 months, according to a new report by the CBI and PwC.
Businesses which are at the forefront of cloud, mobile, social and data innovations will lead the new Digital Industry Economy, according to Gartner.
Half of UK drivers would be willing to embrace telematics-based insurance products, according to consumer research by Towers Watson.
Insurers should follow the lead of banks and financial services companies and invest more in mobile apps, according to Celent.
Life insurers need to address legacy insurance systems if they are going to remain competitive and meet compliance requirements, Ovum analyst Charles Juniper has claimed.
Regulatory changes in the insurance industry may prove to be a catalyst for investment in innovative technology systems, according to a new report by Clear Path Analysis.
Insurers are increasingly investing in big data solutions in order to improve product modelling, underwriting and marketing, according to Novarica.
Insurers are overlooking the operational disruptions caused by technology outages and software failures, according to Marsh Risk Management Research.
The insurance industry stance on IT projects has shifted from cost cutting to strategic investments in operational efficiency and new revenue growth, according to Ovum.
Customer experience is central to many insurers’ plans to increase business revenues, according to a new report by Strategy Meets Action.
Insurance CIOs believe legacy technology is hindering innovation within their business, according to Sam Medina, head of strategy for insurance at Tata Consultancy Services.
The adoption of new analytics technologies is giving insurance firms a competitive edge when responding to changes in consumer behaviour, according to the managing director of Global Insurance Industry for Accenture.
A disconnect between IT and marketing is preventing firms from providing an effective customer experience, according to a study by Accenture.
IT executives in the insurance industry need to team up with their business and marketing peers in order to maximise the value of technology, according to the Deloitte Insurance Tech Trends report.
Data and analytics technology is the primary means by which property and casualty (P&C) insurers believe they will meet the needs of their customers over the next two to three years, according to Aite Group.
Continued investment in technology is imperative if insurers are to stay on top of the competition, according to Strategy Meets Action (SMA).
Digital and social media channels influence 40% of insurance shopping decisions during the consideration phase, according to a McKinsey study of the motor insurance industry in the US.
As insurance companies look to reduce costs they will need to consider consolidating their IT systems, according to the State Street 2013 Insurance Survey.
Professional insurance fraud is a growing problem and effective fraud detection is an urgent priority, according to Ovum.
Many insurance companies feel inadequately prepared to face the technology trends which will impact the industry in coming years, according to a Towers Watson insurance survey.
Small commercial insurers need to prepare for a significant portion of customers wanting to go online to buy direct within the next five years, according to insurance research and advisory firm Novarica.