IT Spending Priorities in Global Insurance: 2007 Business Trends Survey (Customer Focus)

Introduction

The insurance sector continues to outperform expectations although headwinds remain. The need for operational efficiency underpins IT budget growth, while demand grows for replacement projects and improvements to business processing. This report covers tech. trends across insurance, including predominant technology investment strategies, as measured by our latest primary research.

Scope

IT Budgets and technology drivers and strategies Recent trends in insurance business operations, including claims, policy administration, distribution and outsourcing Life, Non-life and Multi-line carriers represented Geographic scope covers Asia-Pacific, Europe and North America, including 20 countries

Highlights

Results reflect a growing emphasis on IT in general, as strong 5-year results underpin more long-term project work (legacy replacement ) and compliance requirements Europe and Asia Pacific insurers have greater acceptance of packaged software Insurers continue to see value in owning many elements of the claims process overlay of ECM/BPM can allow them to maintain legacy investment

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