The March 2024 report, based on a survey of 60 insurer CIOs and tech leaders, finds IT budgets and staffing largely flat from 2023 while strategic priorities remain intact. Distribution support tops 2024 IT agendas, alongside enhancing digital marketing and customer engagement. About half of insurers plan core system replacements or upgrades to strengthen digital capabilities and speed to market. Generative AI adoption is emerging, with 20% already using large language models and another 20% piloting them. Limited bandwidth and IT capacity pose challenges, making prioritization and alignment with business needs critical for success.

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