Property/Casualty Insurer IT Budgets and Projects, 2023

Technology is a critical driver for competitiveness in P/C insurance.

January 25, 2023 – The innovative capabilities technology enables 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. For insurers, this is true investment—that is, creating this value requires funding mature IT organizations that can support modern systems, compete for top talent, and support strategic objectives.

This Insurance Technology Research Council study is designed to help insurers understand peer behavior, budgets, and priorities for the coming year as context for their own strategic planning activities. Solution providers can use this report to identify areas of need and areas of investment for insurers to guide their development roadmaps or market positioning. This report presents and analyzes the results of a study of 62 insurer CIO and technology leader members of the Aite-Novarica Group Insurance Technology Research Council conducted in Q4 2022.

Clients of Aite-Novarica Group’s Property & Casualty service can download this report and the corresponding charts.

Related Content

Cloud Computing in Insurance: Current Adoption and Strategies

Insurers are widely accepting cloud as a platform of choice, even for core systems and infrastructure.  

Emerging Technology for P/C Insurers 2022: Artificial Intelligence, Chatbots, Cloud Computing, Unstructured Data, and More

It’s crucial for insurers to understand the potential applications of innovative technology and have a sense of where their competitors are exploring and investing.  

Top 10 Trends in Property & Casualty, 2022: Succeeding in the Face of Uncertainty

Property and casualty insurers will use technology to enhance the customer experience and increase employee productivity.  

Get Summary Report

"*" indicates required fields

This field is for validation purposes and should be left unchanged.