In 2022, total life insurance IT/technology expenses will rise by 6.7%, the fastest rate since 2019. But annual growth will trend lower through 2026, upping the pressure on life insurers to allocate budgets carefully.
Key Question: How should insurers adjust to slowing growth and most effectively allocate budget dollars?
KEY STAT: US life insurance IT/tech spending will rise to $5.66 billion in 2022, as companies push ahead with multiyear modernization initiatives while pursuing emerging opportunities.
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