2005 has seen a turnaround in the Life sector, whilst Non-Life is starting to see signs of a softening market, with slowing premium growth and stabilizing combined ratios. In changing conditions keeping up-to-date with end-user opinion is crucial for vendors. This report presents the views of 100 IT decision-makers in the sector, identifying strategy drivers and key investment areas for 2006

Scope

• Based on 100 interviews with European insurers

  • Coverage of all the main Western European markets

    • Coverage of the non-life, life and composite insurance sectors

    Report Highlights

    The amount of insurers increasing IT spend has grown overall, however budgets still remain predominately flat. The Life sector has the highest proportion increasing spend, due to improving market conditions, although insurers are still proceeding with caution with flat budgets dominating.

    Life insurers are moving away from efficiency driven strategies taking a balanced approach as the market improves. Interestingly, effectiveness as the key driver has also decreased indicating some insurers may have over-estimated the extent of the recovering market last year and are now taking a more cautious approach.

    Insurers are increasingly seeing BPM as well suited to the claims process particularly in the Non-Life sector and vendors in this space are positioned well to take advantage of the focus on re-engineering. Investment will be centered predominately on workflow, as insurers look to improve STP capabilities without end to end replacement.

    Reasons to Purchase

    • Understand rapidly changing trends in end-user opinion to determine your go to market strategy

      • Use robust primary data of to plan 2005 strategy with confidence