CRM Still Insurance Spending Priority

Cost is the largest trigger of C-level involvement in IT purchases, according to research from InformationWeek, Insurance & Technology's sister publication. This comes as no surprise, as tech budgets are being squeezed. For example, a Forrester study projects that IT purchase intentions for 2002 have plummeted compared to 2001. Only 35.8 percent of companies plan to purchase CRM tech this year, compared to 61.3 percent last year. Insurers, however, are bucking the trend. A Meridien Research study shows that insurance CRM spending is up slightly and will grow to $2.5 billion in 2006.