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 an analysis of the current status and projected growth of IT spending in the insurance industry, updated twice a year. The guide 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, 4 geographic regions, 7 subindustries, and 3 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)
- Functional processes 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 1–3
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?
- 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.