P&C insurers will spend a projected $56 billion on IT this year, but only a small fraction is spent ensuring that they maximize those investments and many question the value they derive from IT, according to “The price isn’t right: How to better understand your IT investment and get more out of it,” from PricewaterhouseCoopers.
Among the challenges for IT decision makers is that they perceive a lack of accountability for investment outcomes, or they are not sure how accountability is managed, PwC said. Responsibility for managing IT value is fragmented, PwC said, and frequently lies within competing organizations, plus they report history rather than measuring value deeply enough to inform decision making.
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