Top 10 Companies in the UK Insurance Industry: IT Spending Predictor 2009

Introduction

This databook provides insight into the top 10 companies in the UK insurance industry in terms of their estimated IT spend.

Scope

*Datamonitor's view of the top 10 companies in this sector and geography in terms of IT spending

*A breakdown of the estimated IT budget by technology for each of the top 10 companies

*A breakdown of the estimated IT budget by channel for each of the top 10 companies

Highlights

The top 10 companies in the UK insurance industry in terms of estimated IT spending spent the largest portion of their IT budgets on hardware, a segment that accounted for about 33% of the IT budgets among these firms. This was followed by spending on software and services.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. External services include product vendors, local resellers, telcos, systems integrators and specialist outsourcers. Internal IT alone accounted for approximately 31% of the total estimated IT spending by these companies.

Reasons to Purchase

*Understand the IT budget breakdown in various organization types and identify notable areas of allocation

*Build lists of organizations with top IT expenditure in your target markets

*Leverage IT spending pattern information to tailor account targeting based on company demographics


Report Highlights
Highlights

The top 10 companies in the UK insurance industry in terms of estimated IT spending spent the largest portion of their IT budgets on hardware, a segment that accounted for about 33% of the IT budgets among these firms. This was followed by spending on software and services.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. External services include product vendors, local resellers, telcos, systems integrators and specialist outsourcers. Internal IT alone accounted for approximately 31% of the total estimated IT spending by these companies.


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TABLE OF CONTENTS
OVERVIEW 1
Catalyst 1
Summary 1
INTRODUCTION 9
Reasons to Purchase 9
Definitions 10
UK INSURANCE: ESTIMATED SPENDING ON IT 12
Overview 12
Estimated spending by technology segment 14
Estimated IT spending by channel 16
AVIVA PLC 18
Budget overview 18
Aviva Plc, estimated spending on IT 19
Aviva Plc, estimated IT spending by channel 23
PRUDENTIAL PLC 25
Budget overview 25
Prudential Plc, estimated spending on IT 26
Prudential Plc, estimated IT spending by channel 30
LEGAL & GENERAL GROUP PLC 32
Budget overview 32
Legal & General Group plc, estimated spending on IT 33
Legal & General Group plc, estimated IT spending by channel 37
OLD MUTUAL PLC 39
Budget overview 39
Old Mutual plc, estimated spending on IT 40
Old Mutual plc, estimated IT spending by channel 44
PRUDENTIAL ASSURANCE CO LTD 46
Budget overview 46
Prudential Assurance Co Ltd, estimated spending on IT 47
Prudential Assurance Co Ltd, estimated IT spending by channel 51
SCOTTISH EQUITABLE PLC 53
Budget overview 53
Scottish Equitable plc, estimated spending on IT 54
Scottish Equitable plc, estimated IT spending by channel 58
FRIENDS PROVIDENT PLC 60
Budget overview 60
Friends Provident plc, estimated spending on IT 61
Friends Provident plc, estimated IT spending by channel 65
ROYAL & SUN ALLIANCE INSURANCE GROUP PLC 67
Budget overview 67
Royal & Sun Alliance Insurance Group plc, estimated spending on IT 68
Royal & Sun Alliance Insurance Group plc, estimated IT spending by channel 72
RSA INSURANCE GROUP PLC 74
Budget overview 74
RSA Insurance Group Plc, estimated spending on IT 75
RSA Insurance Group Plc, estimated IT spending by channel 79
RBS INSURANCE 81
Budget overview 81
RBS Insurance, estimated spending on IT 82
RBS Insurance, estimated IT spending by channel 86
APPENDIX 88
Methodology 88
Further reading 89
How to contact experts in your industry 89
Disclaimer 89


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LIST OF FIGURES
Figure 1: Insurance industry, UK, spending on IT ($m), 2008 and 2009 12
Figure 2: Insurance industry, UK, estimated spending by technology segment ($m), 2008 14
Figure 3: Insurance industry, UK, estimated spending on IT by channel ($m), 2008 16
Figure 4: Aviva Plc, estimated spending by IT segment, 2008 19
Figure 5: Aviva Plc, estimated spending by IT sub-segment ($m), 2008 21
Figure 6: Aviva Plc, estimated spending on IT by channel, 2008 23
Figure 7: Prudential Plc, estimated spending by IT segment, 2008 26
Figure 8: Prudential Plc, estimated spending by IT sub-segment ($m), 2008 28
Figure 9: Prudential Plc, estimated spending on IT by channel, 2008 30
Figure 10: Legal & General Group plc, estimated spending by IT segment, 2008 33
Figure 11: Legal & General Group plc, estimated spending by IT sub-segment ($m), 2008 35
Figure 12: Legal & General Group plc, estimated spending on IT by channel, 2008 37
Figure 13: Old Mutual plc, estimated spending by IT segment, 2008 40
Figure 14: Old Mutual plc, estimated spending by IT sub-segment ($m), 2008 42
Figure 15: Old Mutual plc, estimated spending on IT by channel, 2008 44
Figure 16: Prudential Assurance Co Ltd, estimated spending by IT segment, 2008 47
Figure 17: Prudential Assurance Co Ltd, estimated spending by IT sub-segment ($m), 2008 49
Figure 18: Prudential Assurance Co Ltd, estimated spending on IT by channel, 2008 51
Figure 19: Scottish Equitable plc, estimated spending by IT segment, 2008 54
Figure 20: Scottish Equitable plc, estimated spending by IT sub-segment ($m), 2008 56
Figure 21: Scottish Equitable plc, estimated spending on IT by channel, 2008 58
Figure 22: Friends Provident plc, estimated spending by IT segment, 2008 61
Figure 23: Friends Provident plc, estimated spending by IT sub-segment ($m), 2008 63
Figure 24: Friends Provident plc, estimated spending on IT by channel, 2008 65
Figure 25: Royal & Sun Alliance Insurance Group plc, estimated spending by IT segment, 2008 68
Figure 26: Royal & Sun Alliance Insurance Group plc, estimated spending by IT sub-segment ($m), 2008 70
Figure 27: Royal & Sun Alliance Insurance Group plc, estimated spending on IT by channel, 2008 72
Figure 28: RSA Insurance Group Plc, estimated spending by IT segment, 2008 75
Figure 29: RSA Insurance Group Plc, estimated spending by IT sub-segment ($m), 2008 77
Figure 30: RSA Insurance Group Plc, estimated spending on IT by channel, 2008 79
Figure 31: RBS Insurance, estimated spending by IT segment, 2008 82
Figure 32: RBS Insurance, estimated spending by IT sub-segment ($m), 2008 84
Figure 33: RBS Insurance, estimated spending on IT by channel, 2008 86
Figure 34: Research methodology 88


LIST OF TABLES
Table 1: IT segments and sub segments 10
Table 2: Channel definitions 11
Table 3: Insurance industry, UK, estimated spending on IT ($m), 2008 and 2009 13
Table 4: Insurance industry, UK, estimated spending by technology segment ($m), 2008 15
Table 5: Insurance industry, UK, estimated spending on IT by channel ($m), 2008 17
Table 6: Aviva Plc, IT budget estimates (%), 2008–09 18
Table 7: Aviva Plc, IT budget by estimated entity (as % of overall IT budget), 2008 18
Table 8: Aviva Plc, estimated spending by IT segment, 2008 20
Table 9: Aviva Plc, estimated spending by IT sub-segment, 2008 22
Table 10: Aviva Plc, estimated spending on IT by channel, 2008 24
Table 11: Prudential Plc, IT budget estimates (%), 2008–09 25
Table 12: Prudential Plc, estimated IT budget by entity (as % of overall IT budget), 2008 25
Table 13: Prudential Plc, estimated spending by IT segment, 2008 27
Table 14: Prudential Plc, estimated spending by IT sub-segment, 2008 29
Table 15: Prudential Plc, estimated spending on IT by channel, 2008 31
Table 16: Legal & General Group plc, IT budget estimates (%), 2008–09 32
Table 17: Legal & General Group plc, estimated IT budget by entity (as % of overall IT budget), 2008 32
Table 18: Legal & General Group plc, estimated spending by IT segment, 2008 34
Table 19: Legal & General Group plc, estimated spending by IT sub-segment, 2008 36
Table 20: Legal & General Group plc, estimated spending on IT by channel, 2008 38
Table 21: Old Mutual plc, IT budget estimates (%), 2008–09 39
Table 22: Old Mutual plc, estimated IT budget by entity (as % of overall IT budget), 2008 39
Table 23: Old Mutual plc, estimated spending by IT segment, 2008 41
Table 24: Old Mutual plc, estimated spending by IT sub-segment, 2008 43
Table 25: Old Mutual plc, estimated spending on IT by channel, 2008 45
Table 26: Prudential Assurance Co Ltd, IT budget estimates (%), 2008–09 46
Table 27: Prudential Assurance Co Ltd, estimated IT budget by entity (as % of overall IT budget), 2008 46
Table 28: Prudential Assurance Co Ltd, estimated spending by IT segment, 2008 48
Table 29: Prudential Assurance Co Ltd, estimated spending by IT sub-segment, 2008 50
Table 30: Prudential Assurance Co Ltd, estimated spending on IT by channel, 2008 52
Table 31: Scottish Equitable plc, IT budget estimates (%), 2008–09 53
Table 32: Scottish Equitable plc, estimated IT budget by entity (as % of overall IT budget), 2008 53
Table 33: Scottish Equitable plc, estimated spending by IT segment, 2008 55
Table 34: Scottish Equitable plc, estimated spending by IT sub-segment, 2008 57
Table 35: Scottish Equitable plc, estimated spending on IT by channel, 2008 59
Table 36: Friends Provident plc, IT budget estimates(%), 2008–09 60
Table 37: Friends Provident plc, estimated IT budget by entity (as % of overall IT budget), 2008 60
Table 38: Friends Provident plc, estimated spending by IT segment, 2008 62
Table 39: Friends Provident plc, estimated spending by IT sub-segment, 2008 64
Table 40: Friends Provident plc, estimated spending on IT by channel, 2008 66
Table 41: Royal & Sun Alliance Insurance Group plc, IT budget estimates (%), 2008–09 67
Table 42: Royal & Sun Alliance Insurance Group plc, estimated IT budget by entity (as % of overall IT budget), 2008 67
Table 43: Royal & Sun Alliance Insurance Group plc, estimated spending by IT segment, 2008 69
Table 44: Royal & Sun Alliance Insurance Group plc, estimated spending by IT sub-segment, 2008 71
Table 45: Royal & Sun Alliance Insurance Group plc, estimated spending on IT by channel, 2008 73
Table 46: RSA Insurance Group Plc, IT budget estimates (%), 2008–09 74
Table 47: RSA Insurance Group Plc, estimated IT budget by entity (as % of overall IT budget), 2008 74
Table 48: RSA Insurance Group Plc, estimated spending by IT segment, 2008 76
Table 49: RSA Insurance Group Plc, estimated spending by IT sub-segment, 2008 78
Table 50: RSA Insurance Group Plc, estimated spending on IT by channel, 2008 80
Table 51: RBS Insurance, IT budget estimates (%), 2008–09 81
Table 52: RBS Insurance, estimated IT budget by entity (as % of overall IT budget), 2008 81
Table 53: RBS Insurance, estimated spending by IT segment, 2008 83
Table 54: RBS Insurance, estimated spending by IT sub-segment, 2008 85
Table 55: RBS Insurance, estimated spending on IT by channel, 2008 87


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