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The top business drivers for IT spending are expense reduction and growth, a clear indication that insurers are carefully balancing IT investments. This year's findings signal a change in priorities from the previous study conducted in 2011, in which business optimization was the top investment driver.
The research focuses on the technology spending trends among life and annuity insurers in
"Our members clearly understand the strategic value of IT," said
The survey results are reported in an article in the February issue of LOMA's
Strategy Meets Action (SMA) is a research, advisory, and consulting firm exclusively serving the insurance industry. SMA's services are actionable, business-driven, and research-based – where strategy meets action – enabling companies to achieve business success. Study author
Established in 1924, with 1,200 plus member companies in over 80 countries, LOMA is committed to a business partnership with its world-wide members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing, and related products and services. To find out more about LOMA and the learning opportunities it offers, visit LOMA's Web site at www.loma.org.