Regaining control
Developing a new bespoke IT system can be a costly endeavour for an insurance firm, but sometimes it can be worth making that initial investment. Blake Evans-Pritchard reports
Information technology represents a significant cost for insurance companies' risk departments, particularly those with complex life portfolios who want to stay ahead of the pack in a very competitive marketplace. Indeed, Aviva, the UK's number one life insurer, has just launched an initiative to reign in its escalating IT costs.
With increasingly complex technology needed to meet shifting economic capital needs and tougher consumer demands, the temptation is for many firms to outsource
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