Top Insurance Technology Investment Trends for 2024
Analyzing the key investment trends and drivers for the insurance market in 2024 and beyond
The Reuters Events: Insurance Technology Benchmarking Survey gathered responses from 500+ industry professionals to discover the key trends in technology investment for 2024 and beyond.
Download the report now to find out:
- What technologies insurance carriers are planning to invest in over the next 2 years
- What are the prominent drivers and blockers for technology investment
- How technology preferences differ per insurance line and organization size (determined by annual net premiums)
Check out a snippet of the report below…
How technology preferences differ per insurance line
Our research allows us to segment respondent views on technology investment by the insurance lines they operate in. As the chart below indicates, analysis of responses shows that those operating in specific insurance markets are more likely to invest in certain technologies than others.
Those in property and casualty (P&C) – our largest cohort of respondents – are investing in a generally broad suite of technologies, with 30% or more P&C respondents selecting six technologies, from analytics (40%) to claims management systems (30%).
Respondents from organizations active in the commercial and specialty insurance market appear more likely to be planning investment in customer relationship management systems than those active in other insurance markets. A total of 38% of respondents from organizations active in the commercial and specialty insurance market noted as such.
More than half (54%) of respondents active in the reinsurance market said their organization is planning to invest in analytics over the next two years, the largest share of any of our industry sub-groupings to indicate as much.
Best,
Alex
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