2013-12-13 09:45:05 - Fast Market Research recommends "ICT Priorities in Insurance - Enterprise ICT investment plans" from Strategic Defence Intelligence, now available
This report presents the findings from a survey of 118 insurers regarding their Information and Communications Technology (ICT) investment priorities. The survey investigates the core technologies which insurers are investing in, including the likes of enterprise applications, security, mobility, communications and collaboration, and cloud computing.
Introduction and Landscape
Why was the report written?
In order to provide deeper insights into insurers' ICT investment priorities and strategic objectives.
What is the current market landscape and what is changing?
The insurance industry has been rather slow to adopt cloud computing, due to strict regulations and security issues.
What are the key drivers behind recent market changes?
Kable believes that demand for cloud computing is set to grow as
it enables insurers to achieve operational savings in the long run, thereby improving their bottom lines.
What makes this report unique and essential to read?
Kable Global ICT Intelligence has invested significant resources in order to interview CIOs and IT managers about their IT investment priorities. Very few IT analyst houses will have interviewed 110+ ICT decision makers in the insurance industry in H2 2012.
Full Report Details at
- www.fastmr.com/prod/753302_ict_priorities_in_insurance_enterpris ..
Key Features and Benefits
Recognize insurers' strategic objectives with regards to their ICT investments.
Identify insurers' investment priorities based on their budget allocations across core technology categories such as enterprise applications, security, mobility, communications and collaboration, and Cloud Computing, etc.
Learn about the drivers that are influencing insurers' investments 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.
Key Market Issues
According to Kable's survey, insurers are prioritising the strategic objective of improving security/privacy, as any loss of business critical information can make them liable to huge financial penalties and regulatory intervention.
Insurers are placing greater emphasis on deploying enterprise applications, as such solutions enhance operational efficiency, increase growth opportunities, and improve customer experience.
The survey shows that 52% and 51% of insurers are planning to invest in analytics and real-time business intelligence to improve their decision making capabilities.
According to Kable' survey, 80% of insurers are planning to invest in some form of content management solution in the next two years, to handle the rising volumes of information in the sector.
Tablet computing is receiving widespread investment from insurers. Moreover, driven by advantages such as improvements to employee productivity and portability, tablet computing is set to continue to generate decent demand in the sector, with 57% of insurers planning to invest in this area through to the end of 2014.
It is notable that insurers are planning to invest heavily in BPM and PLM, with 56% of respondents anticipating investments in these applications through to the end of 2014.
Over the next two years, a higher percentage of insurers are planning to make investments in security and vulnerability management (SVM) in order to ensure that their IT environment is more secure.
According to Kable's survey, systems and network management is set to bring in more widespread investments from insurers, with the highest percentage of respondents planning to invest here in the next two years.
The survey shows that video conferencing solutions are set to generate significant demand from insurers as the highest percentage of respondents are planning to invest in this space through to the end of 2014.
Server virtualization is set to bring in greater investments, with 64% of respondents planning to invest here in the next two years. Insurers are keen to invest in server virtualization as it reduces the total cost of ownership (TCO) in their server environments and provides an immediate return on investment (ROI).
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