The internet will have the most effect on the insurance industry in the next five years, according to a survey of insurance company directors by Chase Computer Services.

It found that 42% of respondents believed the internet would be the most influential factor in the industry. And in 41% of companies, the board was taking responsibility for their ebusiness strategy. In a quarter of companies the IT manager was in charge of online business.

Other factors thought likely to affect the industry were globalisation and mergers and acquisitions. Factors not seen as important were mobile computing, the euro, political change and training and education.