Taking their slice out of the IT pie

Risk & Insurance, August, 2005

Policy administration systems are consuming the most investment dollars, according to a recent survey of risk and compliance officers at the annual gathering of ACORD-LOMA last May.

How many of you have a 1-3 year IT budgeting plan?

Yes   76%
No    24%

Note: Table made from pie chart.

Which areas get the most investment dollars?

Policy systems             46%
Enterprise architectures   20%
Distribution systems       15%
Regulatory compliance       9%
Other                      10%

Note: Table made from pie chart.

Have compliance issues like Sarbanes-Oxley
affected the work you do?

Yes   58%
No    42%

Note: Table made from pie chart.

What are your plans for business process
outsourcing over the next few years?

More                  37%
Same                  21%
Less                   6%
We do not outsource   25%
Don't know            11%

Note: Table made from pie chart.

Where is the most innovation taking place?

Front office   74%
Back office    26%

Note: Table made from pie chart.

SOURCE: ACORD-LOMA SURVEY, MAY 2005.