Business Trends: Global Insurance Technology Trends, 2008 (Customer Focus)

This report is the result of Datamonitor's annual global survey of 200 decision makers within insurance companies. Overall, IT spending is projected to perk up in 2009, with much of the focus on improving operational efficiency and enabling great direct sales and service.

Report Highlights
Overall, IT spending should be more robust in 2009 than it is today. The concern, however, is that the budget increases do not keep pace with inflation.

SOA is increasingly becoming a core cost savings strategy, and it is projected to be a more accepted strategy than core systems replacement.

Small insurers (fewer than 1,000 employees) are aggressively investing in the online channel, whereas 58% of large insurers are planning to increase investment in agents and intermediaries.
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