Boardroom Series: What Now for Insurance Technology Investment?
Celent, a Boston-Based financial research and consulting firm, has launched a new client resource called the Boardroom Series. These monthly briefs explore the current challenges faced by insurance companies, helping C-level executives prepare for the next "hard question" their boards of directors are likely to ask. Each brief focuses on a single question, provides Celent's view of the issues behind the question, and defines specific action steps that will position a carrier to deliver an effective response.
The newest installment of this series is What Now for Insurance Technology Investment? Many boards are considering requests for major technology initiatives. While there is nothing new about this—it happens in larger insurers nearly every year—making any major investment decision is much harder now because of the uncertainty surrounding the outlook of the economy, financial markets, and the insurance industry itself.
"An insurer’s specific combination of an economic/industry point of view and a strategic stance provides the context for making major technology investment decisions," says Donald Light, senior analyst with Celent's Insurance Group and author of the report.