e-Business & Technology Information from Canada
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Personal Lines Insurers Embrace Technology in Response to Market and Regulatory Challenges NEW YORK - In a new sector report published today, Business and Technology Trends: Personal Lines, research and advisory firm Novarica looks at recent technology initiatives by personal lines insurers and highlights top issues for 2011. "With a continuing soft market, and very competitive conditions creating profitability pressures, personal lines carriers are focusing on growth strategies, expense reduction, and improving underwriting results," comments Karlyn Carnahan, Novarica principal and lead author of the report. "Top initiatives for personal lines carriers include business intelligence, policy admin systems replacement, claims systems replacement, and portal functionality for both agents and insurers." Novarica’s research finds that personal lines insurers are focusing on four key areas in their technology strategies, including:
This report provides an overview of personal carriers’ business and technology issues, data about the marketplace, and over 30 examples of recent technology investments by personal lines insurers. The report is available at Novarica’s website at http://www.novarica.com/business-and-tech-trends-personal-lines. About Novarica Novarica provides information, insights, and perspective on markets, operations, and technology to financial services and insurance executives and project teams. The company delivers its service through published research, retained advisory services, and project-based consulting. For more information, visit www.novarica.com. 
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