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.
About the Author
Harry Huberty
Harry Huberty is the Research Director for the Insurance Practice at Datos Insights, where he manages the Research Council, a moderated knowledge-sharing community of over 400 insurer senior executives. He also leads Datos Insights’s research on automotive telematics in personal and commercial lines. He holds an MTS in Religious Studies from Harvard Divinity School and a B.A. in Religion from...
Other Authors
Martina Conlon
Martina Conlon is Head of Property and Casualty Insurance at Datos Insights. She has expertise in IT strategy, best practices, organizational approaches, and technology architecture, and is the primary researcher and author of market-leading reports on agent portals, core systems, business intelligence, and technology strategy. Martina has led dozens of vendor selection efforts, insurer peer benchmarking, IT organizational assessments, and enterprise architecture...