For insurers, technology does not operate in a vacuum. Indeed, any discussion of the top technology trends of the year would be deficient if not addressed in the context of the larger forces at work upon the industry.
While the financial crisis that savaged other pillars of the financial services sector largely bypassed the insurance industry, the reverberations were felt keenly by insurers, especially those long accustomed to padding premium income with investment income. This hit, coupled with the lingering soft market, forced carriers to look within and redouble efforts to run more efficiently.
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