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| Countries covered: Germany The German insurance sector is lagging some way behind other industries (such as banking and manufacturing) in addressing IT efficiency and modernisation, and in the use of external service providers. Cost pressure is now increasing as a result of new regulation, changing business requirements and increasingly expensive and inadequate legacy systems. The (in-house) consolidation of IT capabilities is a first step towards more efficiency. Over the next few years, we also expect more opportunities to emerge for IT service providers in helping with modernisation and the operation of IT systems for the insurance sector. |
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