Sridhar Manyem, director, Industry Research and Analytics, commented; “Industry CEOs can no longer relegate technology to their IT divisions. They need to have an in-depth understanding of technological concepts and how they relate to specific business operations and strategy, given the potential for industry disruption. If done properly, technological improvements and increased automation can increase efficiency and offer better insights.” However, insurers which have grown through acquisitions face additional challenges to integrating and updating processes, A.M. Best said, explaining that like enterprise risk management, technological advancements have to flow throughout a company culture.

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