IDC Financial Insights' Worldwide Insurance IT Spending Guide is a semiannual analysis of the current status and projected growth of information technology (IT) 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 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, 8 geographic regions, 7 subindustries, and 3 company size tiers.
The Worldwide Insurance IT Spending Guide is segmented as follows:
- Geographic region (Asia/Pacific [excluding Japan], Canada, Central and Eastern Europe, Japan, Latin America, Middle East and Africa, United States, and Western Europe)
- Functional processes including business acquisition, channel management, and policy administration
- Technology (hardware, packaged software, IT services, and internal IT)
- 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 1–3
- 3rd Platform and innovation accelerator forecasts (big data and analytics, mobility, cloud, IoT, artificial intelligence, and security)
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?
- Where 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 representing 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.