Data crunch.
The days when insurance companies could hold off on serious IT investment are over. There are many current must-have systems and many more that are on the way.
Insurance companies were among the front-runners in the use ofinformation technology, with their historic focus being on developing
systems that helped them collect and process premiums. Many have spent
considerable sums on their current back-office systems as a result, as
well as creating large IT departments and infrastructures to support them.
Datamonitor estimated that in 1999, the UK insurance market overall spent
£3bn on IT, with almost half of this being spent internally.
But where is the
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