Technology is a critical driver for competitiveness in P/C insurance. New capabilities enabled by technology create real value for insurers by allowing them to identify and penetrate new markets, sell products more effectively, increase operational efficiency, and better understand and model risk. However, creating this value requires funding mature IT organizations that can support modern systems, compete for top talent, and support strategic objectives.
This report presents and analyzes the results of a study of 60 insurer CIO and technology leader members of the Datos Insights Insurance Technology Research Council conducted in Q4 2023. The study focuses on insurer IT spending, staffing levels, system capability self-assessments, and planned technology investments and business priorities for the 2024 fiscal year.
Clients of Datos Insights’ Property & Casualty service can download this report.
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