U.S. insurance companies continue to increase technology spending...

U.S. insurance companies continue to increase technology spending despite the economic slowdown, with 2002 budgets up an average of 7% from 2001, according to a study by Celent Communications. Celent estimates the insurance industry will spend $18 billion on information technology programs this year. Internal staffing represents an average of 44% of insurance industry IT spending, according to the study.