Half of reinsurers planning major IT investment
Saturday, 06 20 2015, Category: Insurance and Reinsurance, Country: World
Over half of reinsurers are planning a major investment in IT over the next 18 months as technology becomes a vital tool in the quest for survival and success.
This is according to a survey by Xuber, Xchanging’s insurance software business, which issued its third and final chapter of results recently.
Over a third (35 percent) of respondents said their future IT investment was specifically to make them compliant with impending regulation. Only 52 percent of businesses believed they are currently compliant with upcoming regulation.
The survey also found that 35 percent of respondents are planning to invest to ensure their firm will be compliant with regulation.
Source: Intelligent Insurer