Are current lackluster economic and insurance industry conditions likely to persist for years? If so, this is a new normal, and insurers need to adjust.

In a new report, Is Today the New Normal for the US Insurance Industry?, Celent looks at the factors that have driven insurance industry performance in recent years. If these conditions persist, the industry is facing a new normal. Celent identifies the strategic choices available to insurers in new normal times, and what those choices mean for insurance technology groups.

“If the industry is operating in a new normal environment, then insurers should rethink their corporate objectives and strategies for size and growth, expense control, getting smarter, and solidity and risk management,” says Donald Light, Senior Analyst with Celent’s Insurance Group and author of the report. “Celent’s prime directive for insurance technology continues to be the context for technology strategy decisions.”