Posted by Mark Brousseau
A tidal wave of bad news has swept Wall Street and Main Street, and debris is coming ashore across the globe. This crisis is sure to affect insurers the world over for years to come.
Celent LLC believes that the unprecedented breadth and intensity of issues currently facing the insurance industry will severely constrain future growth but also provide an opportunity for carriers that position themselves correctly.
“The world has changed, but not ended,” said Donald Light, senior analyst with Celent’s insurance practice and coauthor of the report. “Insurers, their technology groups, and technology vendors need to recognize this change and adapt to it.”
“Adapting includes an examination of implementation plans and budgets with an eye toward short-term, tactical payback,” said Mike Fitzgerald, senior analyst with Celent’s insurance practice and coauthor of the report.
How has the economic crisis affected your organization’s IT spending?
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