Report Summary:

This report is based on a survey of 59 US P/C insurer CEOs conducted in January 2008. Respondents ranged across all lines of business and company sizes.

Among the key findings of the survey:

• CEOs recognize the impact of technology on policyholder service and distribution, but undervalue the potential in product development and marketing.
• Small and midsize insurer CEOs are often completely unfamiliar with new technology areas like SOA and Web 2.0.
• Most insurers seem to underestimate the technology savvy of their customers.
• Transactional agent portals and imaging systems are commonly regarded as the most important technology initiatives of recent years.

The survey results show the P/C insurer CEOs are most likely recognize and value the role of technology in communication, where its transformative effect has been most evident over the last ten years.

The next stage for insurers is to turn their attention to fully leveraging the capabilities of modern technology in analysis in order to understand product and customer profitability at a deeper level, and be able to manage their businesses accordingly.

CONTENTS

Introduction…2
Key Findings…3
Attitudes and Opinions…4
Areas of Biggst Impact, Impact of Specific Technologies, User Sophistication, Best Recent Investments
E-Business…9
Agent Portals, Agency Management System Transcations, Policyholder Online Self-Service
Managing IT Organizations…13
Reporting Structure, Staffing Levels, Metrics
Conclusions…17
About Novarica…18