Engage an insurer in a conversation about IT solution providers and you are likely to get one of two reactions: indifference or uncertainty. It's not that IT solution providers are irrelevant or unimportant–in fact, they play a very critical role in the plans of most insurers. The reaction is more likely due to the fact it's a real challenge to keep up with what is going on in the IT solution provider marketplace: mergers and acquisitions, new entrants, evolving technology approaches, and a continual flurry of press releases, advertising, and marketing materials. Yet new research on property/casualty in North America by SMA Strategy Meets Action reveals the IT marketplace has been quietly transforming and now is positioned to deliver increasing business value to insurers. The marketplace is surprisingly vibrant, and the solutions are increasingly sophisticated.

(For more research from Strategy Meets Action, read this opinion piece from SMA founder Deb Smallwood.)

Shift in IT Spending