TowerGroup interviewed senior leadership executives at more than 12 carriers and conducted more than 150 hours of data gathering and analysis across the industry (covering property/casualty, life and annuity, and reinsurance).
Key findings of the study, according to Needham, Mass.-based TowerGroup, include:
- The industry is moving forward quickly with the adoption of SOA, Web services and standards.
- SOA is viewed as a philosophy, an evolution of prior technology advances by the insurance carriers.
- Web services is seen as a critical technology vehicle for implementing SOA.
- Shared standards are the "DNA" of SOA, with carriers recognizing the need to detail specifications to a very granular level.
