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Budgeting for Innovation: 5 Budgeting Principles to Make Sure You're Prepared

Budgeting for Innovation in 2016 is shaping up to be a challenging one. In fact, it could be harder to formulate budgets this year than in prior years. Why is that? As our economy accelerates in a way that benefits property casualty insurers and the digitalization of insurance creates pressure for new technology, most property casualty insurers are now dealing with two opposed forces: modernization and keeping the lights on. This is tough on the expense line and is particularly tough on the human resources front. For many carriers, pursuing these necessary ends means paying for two staffs in several parts of their business and IT operations. Ouch! For life insurers, low interest rates ha

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