SummaryThis ICT investment trends in insurance - Enterprise ICT spending patterns through to the end of 2015 report presents the findings from a survey of 132 insurance companies 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.
Key Findings
Kable’s survey shows that insurers are increasing their investment in ICT services by (X%), compared to 2013, and reach (X%) in 2014.
In 2014, X% of insurers are planning to increase their overall ICT expenditure (both slightly and significantly) in the IT project of business support.
Core policy administration has been assigned the highest investment priority, as X% of respondents are considering it as one of the top three IT projects for insurers in 2014.
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Synopsis
This report presents the findings from a survey of 132 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 enterprises are investing in, including security, business intelligence, and content management. The survey also highlights the approach adopted by insurers to purchase technology. Through Kable’s survey, the report aims to provide better insight to ICT vendors and services providers when pitching their solutions to insurers.
In particular, it provides an in-depth analysis of the following:
Understand how ICT budgets are set to change in 2014 in terms of their overall size.
Appreciate how IT budgets are allocated across the core elements of IT spend, including hardware, software, services, communications, and consulting.
Learn how IT money is being spent in areas such as the data centre, applications, IT management and the network.
Gain an understanding regarding which ICT functions insurers are interested in outsourcing.
Identify insurers’ investment priorities based on their budget allocations across core technology categories such as security, business intelligence, and content management.
Learn about the drivers that are influencing insurers’ 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.
Understand the vendor mindshare for various core and advanced technology categories.
Provides insight into insurers’ preferred buying approaches.
Comprehend the business and IT objectives that insurers are looking to achieve through their IT investment strategies.
Understand the factors that are influencing insurers’ decision to select an ICT provider.
Reasons To Buy
This report will help readers to understand how the insurance industry ICT landscape is set to change in 2014.
Gain a view as to how ICT money is being allocated in your target audience.
The report covers a detailed breakdown of the opportunities within each of the core areas of ICT spend (hardware, software, IT services, telecommunications and consulting.)
The report will help users to gain a view of the current strategic objectives of insurance companies.
The report will provide a detailed breakdown of the opportunities within selected technology categories (security, business intelligence, and content management).
Understand the factors that are influencing insurers’ decision to select an ICT provider.
Gain a view as to the business and IT objectives insurers are looking to achieve through their ICT investment strategies.
Table of Contents
1 Trends in ICT budgets
1.1 Introduction
1.2 Survey demographics
1.3 ICT budget changes
1.4 ICT budget allocation by core technology area
1.4.1 Hardware budget breakdown
1.4.2 Software budget breakdowns
1.4.3 Third party IT services expenditure
1.4.4 Telecommunications budget
1.5 ICT budget allocation by function
1.6 Outsourced IT functions
1.1 Introduction
1.2 Survey demographics
1.3 ICT budget changes
1.4 ICT budget allocation by core technology area
1.4.1 Hardware budget breakdown
1.4.2 Software budget breakdowns
1.4.3 Third party IT services expenditure
1.4.4 Telecommunications budget
1.5 ICT budget allocation by function
1.6 Outsourced IT functions
2 ICT investment priorities and vendor mindshare
2.1 Introduction
2.1.1 Business intelligence
2.1.2 Security
2.1.3 Content management
2.1 Introduction
2.1.1 Business intelligence
2.1.2 Security
2.1.3 Content management
3 ICT procurement trends
3.1 Introduction
3.2 Business objectives influencing IT investment strategy
3.3 IT objectives influencing IT investment strategy
3.4 ICT provider selection
3.1 Introduction
3.2 Business objectives influencing IT investment strategy
3.3 IT objectives influencing IT investment strategy
3.4 ICT provider selection
4 Sector-specific trends
4.1 Introduction
4.2 IT spending plans for specific business area
4.3 Business areas receiving largest investments
4.4 Upgrades in business area
4.1 Introduction
4.2 IT spending plans for specific business area
4.3 Business areas receiving largest investments
4.4 Upgrades in business area
5 Summary
5.1 Amid financial turmoil and economic uncertainties, insurers continue to invest in ICT solutions to enhance growth opportunities
5.1 Amid financial turmoil and economic uncertainties, insurers continue to invest in ICT solutions to enhance growth opportunities
6 Appendix
6.1 Definitions
6.2 Further reading
6.3 Contact the authors
6.1 Definitions
6.2 Further reading
6.3 Contact the authors
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