P&C Insurers Top Technolgoy Priorities

http://www.insurancejournal.com/news/national/2011/09/19/216357.htm

P&C insurers top technology investment priorities according to the IVANS 2011 Carrier Automation Trends study:

1. Underwriting
2. Policy administration
3. Consumer portals
4. Predictive analytics/ business intelligence
5. Mobility/ virtualization

I find it very promising to the industry's future that 49% of the 120 carriers see investing in underwriting solutions as a way to boost efficiency and to grow. These new technology investments have the potential to create greater ease of doing business. I was surprised that only 25% of carriers already have a consumer portal. We currently have one and this means we are above a lot of the competition in this respect, which is always great. Of course, mobile devices and desktop virtualization are of high importance and consumers continue to increase dependence on this devices and carriers are using these aspects to increase sales, support, and handle claims. It will be interesting to see how these priorities continue to evolve over the next year and beyond.