New Relic report reveals high-business impact outages cost financial services and insurance sectors $2.2 million per hour

New Relic published its State of Observability for Financial Services and Insurance report, which offers insights into the adoption and business value of observability for the financial services and insurance industry. The report, based on insights from financial services and insurance industry professionals surveyed in New Relic’s 2024 Observability Forecast, illustrates that artificial intelligence (AI) is core to observability practices, with some 41% of respondents reporting AI adoption as a core driver of observability.

“Financial services and insurance organisations are navigating a fast-moving digital landscape where reliability, security, and operational efficiency are non-negotiable,” said New Relic Chief Technical Strategist Nic Benders. “These businesses grapple with frequent high-impact outages, complex tool sprawl, and mounting regulatory pressures, all while striving to deliver seamless digital experiences. The report’s findings demonstrate how critical observability is in helping businesses reduce costly downtime, leveraging AI, and modernising legacy systems to meet ...