The insurance industry has weathered the economic crisis somewhat better than its peers in the banking and financial markets, but has still taken its hits across all business functions, including IT. Given how tightly coupled the business of insurance is with its core business applications and infrastructure, how have insurance IT organizations adapted to weather the economic storms? In a survey that Forrester conducted during the second quarter of 2009, we asked insurers to tell us what actions they were taking to deal with the downturn as well as what was to come in the next year. (See Figure 1). Given their responses, the following represents the top tactics among respondents to cope with the troubling times.
This article can also be found at InsuranceNetworking.com.
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