IBM chief executive Lou Gerstner used a speech to the Property/Casualty Joint Industry Forum in New York last week to urge insurance firms to get on board the electronic commerce bandwaggon quickly, or risk being left behind. Too many insurance firms are just payng lip service to the potential of the Internet, he warned his audience.
He urged those attending the Forum to become 'fast-followers' of electronic commerce pioneers, such as Charles Schwab & Co. He went on to claim that IBM's software was now free of possible millennium compliance problems, but issued the statutory warning to the audience that the industry faced a major crisis with not enough qualified people to sort it out.
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