IT Architecture and Standards in Insurance: A Look at Industry Trends

by Michael Guttman and Viktor Ohnjec

It's no secret that insurance companies are big IT spenders. Larger insurers have been consistently spending hundreds of millions of dollars per year on software alone. For some time, insurers have been focusing the vast majority of their technology spending in two areas: computing infrastructure and business process automation. Insurers hope that these investments will pay off in lower costs and improved competitiveness.