“ICT Investment Trends in Insurance”, report presents the findings from a survey of 177 insurers regarding their Information & Communications Technology (ICT) investment trends. The survey investigates how insurers currently allocate their ICT budgets across the core areas of enterprise ICT expenditure: hardware, software, IT services, communications, and consulting.
The report illustrates the core technologies that enterprises are investing in, including business intelligence, green IT & virtualization, IoT, and cloud computing. The survey also highlights the approach to purchasing technology adopted by media companies. The report focuses on insurance companies’ ICT expenditure trends for specific business areas and technologies, identifying the top three IT projects, and understanding the primary objectives of various systems components.
Top Companies mentioned
Amazon Web Services
Major Highlight of the report:
Allocation across the core elements of IT spend, including hardware, software, services, communications, and consulting.
Distribution of ICT money in areas such as the networks, applications, service desk, and data centers
Which ICT functions insurers are interested in outsourcing.
Insurers’ investment priorities based on their budget allocations across core technology categories such as business intelligence, green IT & virtualization, IoT, and cloud computing
Factors that are influencing insurers’ investments in each technology category
How insurers’ IT budgets are currently allocated across various segments within a technology category
Insurers’ distribution of their ICT budget across various segments within a technology category
Vendor satisfaction ratings for various core and advanced technology categories
Insight into insurers’ preferred buying approaches
Business objectives that insurers are looking to achieve through their IT investment strategies
Factors that are influencing insurers’ decisions to select an ICT provider.
– Cloud computing services are witnessing an increased interest from insurers primarily driven by the benefits of high scalability, flexibility, cost reduction, and reliable business continuity plans.
– IoT has emerged as the next ground-breaking technology segment and insurers are inclined towards investing in this domain.
– The report survey results reveal that insurers value ‘survival’ to be an important factor guiding their IT investment strategies, while ‘expertise in industry’ is their primary preference criterion for choosing ICT vendors.
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