The Worldwide Insurance IT Spending Guide is a semiannual analysis of the current status and projected growth of information technology spending in the insurance industry. This global five-year outlook on spending by insurance companies provides IT vendors with key information needed to develop effective market strategies. This service combines IDC's extensive technology forecasts with deep industry knowledge provided by IDC Financial Insights analysts and ongoing primary research in the insurance industry. The Worldwide Insurance IT Spending Guide is an analysis of the current status and projected growth of IT spending in the insurance industry, updated twice a year. This five-year outlook on IT spending by individual lines life and annuity insurers, personal lines property/casualty insurers, commercial lines property/casualty insurers, and reinsurance provides IT vendors and international insurers with key information needed to develop effective go-to-market strategies and measure growth areas. IDC Financial Insights offers this benchmark for consistent, detailed data on these major segments of the insurance industry to provide a profile of the IT growth opportunity across solution categories, insurance segments, and technology components. This pivot table tool presents spending forecasts according to current assumptions relating to economic trends, end-user surveys, and IDC Financial Insights' comprehensive segmented research expertise. In addition, the Worldwide Insurance IT Spending Guide provides targeted data for sales organizations with specific spending predictions and analysis correlated by insurance segment size and type.
The Worldwide Insurance IT Spending Guide is developed and updated through IDC Financial Insights' ongoing primary and secondary research, along with direct communication with industry experts, insurance executives, and vendors. The Worldwide Insurance IT Spending Guide is the benchmark for consistent, detailed market data on the insurance industry, providing a profile of IT spending across 20+ functional processes, four geographic regions, seven subindustries, and three company size tiers.
The Worldwide Insurance IT Spending Guide is segmented as follows:
- Geographic region (North America, Asia/Pacific, Europe, and the rest of the world)
- Function process including business acquisition, channel management, and policy administration
- Technology (hardware, packaged software, IT services, and internal services)
- Institution types including accident and health, commercial property/casualty, corporate administration, enterprise utilities, life and annuity, personal property/casualty, and reinsurance
- Institution size by tier 1 through tier 3
The Worldwide Insurance IT Spending Guide addresses the following issues that are critical to your success:
- What is the total worldwide insurance IT opportunity?
- Which technologies and customer segments of this market are growing the fastest?
- How do geographical growth rates vary?
- How should resources be focused to take advantage of the maximum market opportunity?
- How are technology growth rates changing over time as markets mature?
- How can I validate assumptions about these technologies and customer segments?
By presenting a regional and segmented perspective on IT spending, the Worldwide Insurance IT Spending Guide helps IT suppliers that are targeting the insurance sector to identify market opportunities and execute an effective strategy. In addition, the detailed market segment data assists insurers to plan their budget allocations more effectively.
- Assists IT suppliers that are targeting the insurance sector to identify market opportunities and to execute an effective strategy
- Guidance for more responsive, customer-centric marketing campaigns
- Documentation on the functions and solution relationship to provide a greater understanding of the application of technology to the business of insurers
IDC Financial Insights values building client relationships and strives to foster a partnership with each client through continuous analyst interaction; timely delivery of current, concise, and relevant research; as well as custom research when needed. Each advisory service delivers strategic research covering business and technology issues. A summary of the basic service deliverables available to subscribers includes the following:
- Analyst inquiry time specific to the advisory service area
- 24 x 7 research access via www.idc-fi.com
- Discounted admission to specific IDC Financial Insights or IDC conferences
- Complimentary forum invitations (Web conferences, industry briefings)
Related offerings to our industry-specific research practices include IT Spending Guides — segmented regional and country-level analysis by solution area; Go-to-Market Services (GMS) — a modular set of deliverables to assist clients in extending their market reach, validating their market strategy, and producing more responsive customer-centric marketing campaigns; and IDC Advisory Tools — a growing set of solutions designed to ensure clients that technology purchasing and deployment decisions are optimized. In addition, IDC Financial Insights experts are available for individualized consulting engagements to address specific challenges or to customize the results of our syndicated research offerings.