Matthew Josefowicz, who is the head of the insurance practice of Novarica of New York, has observed that there is no rise seen in the rates as they are not increasing, and also the market is shrinking because of the poor performance, which is going throughout the economy. He further said that the carriers would have to do something like stealing the market shares from others by giving improved pricing as well as the services and IT is found to be at the bottom of all of this. The competitive realities of the challenging times of the economy are nothing new, but now some of the other factors too are intensifying the requirement of reacting, as suggested by Josefowicz.