Credit crunch curbs insurers' enthusiasm

The credit crunch has curbed insurers' tendency to embrace technological advances in administration, according to SSP insurance division director Andy Watts. In a statement, he said the effect of the economic downturn had driven several insurers to exclude investing in new IT from their list of top business priorities. He called for software and IT providers to design new and less costly tools for the industry in order to encourage greater IT investment in the current economy.