ICT Media

ICT Priorities in Insurance - Enterprise ICT investment plans

  • KAB110145
  • 34 Pages
  • November 2013
  • ICT Media
Synopsis
This report presents the findings from a survey of 118 insurers regarding their Information & Communications Technology (ICT) investment priorities. The survey investigates the core technologies which insurers are investing in, including the likes of enterprise applications, security, mobility, communications & collaboration, and cloud computing.
Scope
Recognize insurers strategic objectives with regards to their ICT investments.

Identify insurers investment priorities based on their budget allocations across core technology categories such as enterprise applications, security, mobility, communications & collaboration, and Cloud Computing, etc.

Learn about the drivers that are influencing insurers investments in each technology category.

Establish how insurers IT budgets are currently allocated across various segments within a technology category.

Gain insight into how insurers plan to change their ICT budget allocations across various segments within a technology category.
Summary
Why was the report written?
In order to provide deeper insights into insurers ICT investment priorities and strategic objectives.

What is the current market landscape and what is changing?
The insurance industry has been rather slow to adopt cloud computing, due to strict regulations and security issues.

What are the key drivers behind recent market changes?
Kable believes that demand for cloud computing is set to grow as it enables insurers to achieve operational savings in the long run, thereby improving their bottom lines.

What makes this report unique and essential to read?
Kable Global ICT Intelligence has invested significant resources in order to interview CIOs and IT managers about their IT investment priorities. Very few IT analyst houses will have interviewed 110+ ICT decision makers in the insurance industry in H2 2012.
ReasonsToBuy
According to Kables survey, insurers are prioritising the strategic objective of improving security/privacy, as any loss of business critical information can make them liable to huge financial penalties and regulatory intervention.

Insurers are placing greater emphasis on deploying enterprise applications, as such solutions enhance operational efficiency, increase growth opportunities, and improve customer experience.

The survey shows that 52% and 51% of insurers are planning to invest in analytics and real-time business intelligence to improve their decision making capabilities.

According to Kable survey, 80% of insurers are planning to invest in some form of content management solution in the next two years, to handle the rising volumes of information in the sector.

Tablet computing is receiving widespread investment from insurers. Moreover, driven by advantages such as improvements to employee productivity and portability, tablet computing is set to continue to generate decent demand in the sector, with 57% of insurers planning to invest in this area through to the end of 2014.
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