January 25, 2023 – The innovative capabilities technology enables create real value for insurers by allowing them to identify and penetrate new markets, sell products more effectively, increase operational efficiency, and better understand and model risk. For insurers, this is true investment—that is, creating this value requires funding mature IT organizations that can support modern systems, compete for top talent, and support strategic objectives.

This Insurance Technology Research Council study is designed to help insurers understand peer behavior, budgets, and priorities for the coming year as context for their own strategic planning activities. Solution providers can use this report to identify areas of need and areas of investment for insurers to guide their development roadmaps or market positioning. This report presents and analyzes the results of a study of 62 insurer CIO and technology leader members of the Aite-Novarica Group Insurance Technology Research Council conducted in Q4 2022.

Clients of Aite-Novarica Group’s Property & Casualty service can download this report and the corresponding charts.