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Insurer Technology Spending, Drivers, and Approaches


Authors:

Mary Ann Garwood, Partner

Deborah M. Smallwood, Founder & CEO

Publication Date: October 21, 2009

Number of Pages: 27

Price: $1,495.00 USD


As part of the SMA Insurance Ecosystem Research Series, this report is a first-of-a-kind detailed analysis of IT spending patterns in the North American property and casualty insurer environment. The report provides an insightful profile of IT investment in the insurance industry and looks at technology spending projections for 2010 and beyond. It investigates how insurers are investing in enabling solutions and technologies, looks at factors that are influencing spending decisions, and examines the solution approaches being implemented. Included in the report are detailed findings and analysis by tier on business drivers, approaches, and spending for 2010 and three year projections using the SMA Capability Model.  

The research data for this report is based on data gathered from three distinct sources: surveys (96 insurance company participants), interviews with market leaders, and secondary research. The data collected aligns to the business mix of personal and commercial lines found in the industry; is a representative mix of global, national, and regional companies; and evenly represents insurer tiers.

For insurers, the data points and insights presented are useful for benchmarking and checking the pulse of technology investment in the marketplace. For solution providers, the data and accompanying observations on insurers’ spending patterns and buying behaviors yield useful information for setting business and marketing strategies and priorities. For industry watchers, including analysts, venture capitalists, and executives evaluating partnerships and acquisitions, the data and analysis provide fuel for evaluation criteria.

Table of Contents

  • Executive Summary 1
  • Introduction 2
  • Riding the Wave 3
  • About the Research 5
  • Investigating Technology Decisions 8
  • Strategy Meets Action 22
  • Research Methodology and Objectivity 27