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Insurer Technology Spending, Drivers and Projects


Authors:

Deborah M. Smallwood, Founder & CEO

Karen Furtado, Partner

Mark A. Breading, Partner

Mary Ann Garwood, Partner

Publication Date: January 31, 2012

Number of Pages: 13

Price: $1,495.00 USD

This report, part of SMA's annual Insurance Ecosystem Research Series, addresses IT spending patterns in the North American property and casualty and life and annuities insurance industry. The report provides an insightful profile of IT investment and looks at technology spending projections for 2012 and beyond. It investigates how insurers are investing in enabling solutions and technologies, looking at factors that are influencing spending decisions. The report thoroughly examines project priorities and solution methodologies - investigating new approaches and emerging technology areas that will shape the industry in the coming years.

The research data for this report is based on data gathered from 126 insurer survey responses, interviews with market leaders, secondary research, and direct SMA experience in working with our clients. The data collected aligns to the industry's mix relative to lines of business and company size. There is a good balance of business and technology leadership participation in the survey responses.

For insurers, the data points and insights presented are useful for tracking IT spending against industry trends, examining priorities, and monitoring the pulse of technology investments. For IT solution providers, the data and accompanying observations on insurers' spending patterns and buying behaviors yield useful information for setting product development roadmaps and refining marketing strategies and priorities. For industry watchers, including analysts, venture capitalists, and executives evaluating partnerships and acquisitions, the data and analysis provide rich information for assessment and use in determining evaluation criteria for investments. An example of the research data is shown in the figure below.  

Table of Contents

  • Executive Summary 2
  • Positioning for Growth 3
  • IT Spending Plans for 2012 and Beyond 4
  • IT Project Priorities for 2012 7
  • SMA Call to Action 12
  • About Strategy Meets Action 13