Top 10 Companies in the Irish Insurance Industry: IT Spending Predictor 2010

Introduction

This databook provides estimates of IT spending for the top 10 companies in the Irish Insurance industry. The databook is a comprehensive source of IT spending by company, including assessment by technology and channel. The databook also provides information on the IT contracts of these companies where available.

Scope

*Ovum's view of the top 10 companies in the Irish Insurance sector 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

*Details of IT services contracts by company where available

Highlights

The top 10 companies in the Irish insurance industry in terms of estimated IT spending spent the largest portion of their IT budgets on services, a segment that accounted for about 28% of the IT budgets among these firms. This was followed by spending on hardware and software.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT, accounted for 25% of the total estimated IT spending by these companies. Zurich Insurance Plc remained the leading company in terms of spending on the various channels, followed by Allied World Assurance Holdings (Ireland) Ltd and Irish Life Assurance plc.

Reasons to Purchase

*Gain insight into IT budget breakdown of top 10 companies in the Irish Insurance industry and identify notable areas of allocation

*Identify organizations with top IT expenditures in your target markets

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

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TABLE OF CONTENTS
Overview 1
Catalyst 1
Summary 1
Introduction 9
Reasons to purchase 9
Definitions 9
Irish Insurance Industry: Estimated Spending on IT 12
Overview 12
Estimated spending by technology segment 14
Estimated IT spending by channel 16
Zurich Insurance Plc 18
Budget overview 18
Zurich Insurance Plc, estimated spending on IT 19
Zurich Insurance Plc, estimated IT spending by channel 23
Zurich Insurance Plc, IT contracts 25
Allied World Assurance Holdings (Ireland) Limited 27
Budget overview 27
Allied World Assurance Holdings (Ireland) Limited, estimated spending on IT 28
Allied World Assurance Holdings (Ireland) Limited, estimated IT spending by channel 32
Irish Life Assurance Plc 34
Budget overview 34
Irish Life Assurance plc, estimated spending on IT 35
Irish Life Assurance plc, estimated IT spending by channel 39
AXIS Re Ltd 41
Budget overview 41
AXIS Re Ltd, estimated spending on IT 42
AXIS Re Ltd, estimated IT spending by channel 46
Canada Life Assurance Europe Limited 48
Budget overview 48
Canada Life Assurance Europe Limited, estimated spending on IT 49
Canada Life Assurance Europe Limited, estimated IT spending by channel 53
FBD Holdings Plc 55
Budget overview 55
FBD Holdings Plc, estimated spending on IT 56
FBD Holdings Plc, estimated IT spending by channel 60
Seb Life (Ireland) Assurance Company Limited 62
Budget overview 62
Seb Life (Ireland) Assurance Company Limited, estimated spending on IT 63
Seb Life (Ireland) Assurance Company Limited, estimated IT spending by channel 67
CNP Europe Life Limited 69
Budget overview 69
CNP Europe Life Limited, estimated spending on IT 70
CNP Europe Life Limited, estimated IT spending by channel 74
Hannover Life Reassurance (Ireland) Limited 76
Budget overview 76
Hannover Life Reassurance (Ireland) Limited, estimated spending on IT 77
Hannover Life Reassurance (Ireland) Limited, estimated IT spending by channel 81
Canada Life Assurance (Ireland) Limited 83
Budget overview 83
Canada Life Assurance (Ireland) Limited, estimated spending on IT 84
Canada Life Assurance (Ireland) Limited, estimated IT spending by channel 88
Appendix 90
Methodology 90
Further reading 91
Disclaimer 91

LIST OF FIGURES
Figure 1: Top ten companies in the Irish insurance industry, estimated spending on IT ($m), 2009–10 12
Figure 2: Top ten companies in the Irish insurance industry, estimated spending by technology segment ($m), 2009 14
Figure 3: Top ten companies in the Irish insurance industry, estimated spending on IT by channel ($m), 2009 16
Figure 4: Zurich Insurance Plc, estimated spending by IT segment ($m), 2009 19
Figure 5: Zurich Insurance Plc, estimated spending by IT sub-segment ($m), 2009 21
Figure 6: Zurich Insurance Plc, estimated spending on IT by channel (%), 2009 23
Figure 7: Allied World Assurance Holdings (Ireland) Limited, estimated spending by IT segment (%), 2009 28
Figure 8: Allied World Assurance Holdings (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 30
Figure 9: Allied World Assurance Holdings (Ireland) Limited, estimated spending on IT by channel (%), 2009 32
Figure 10: Irish Life Assurance plc, estimated spending by IT segment (%), 2009 35
Figure 11: Irish Life Assurance plc, estimated spending by IT sub-segment ($m), 2009 37
Figure 12: Irish Life Assurance plc, estimated spending on IT by channel (%), 2009 39
Figure 13: AXIS Re Ltd, estimated spending by IT segment (%), 2009 42
Figure 14: AXIS Re Ltd, estimated spending by IT sub-segment ($m), 2009 44
Figure 15: AXIS Re Ltd, estimated spending on IT by channel (%), 2009 46
Figure 16: Canada Life Assurance Europe Limited, estimated spending by IT segment, 2009 49
Figure 17: Canada Life Assurance Europe Limited, estimated spending by IT sub-segment ($m), 2009 51
Figure 18: Canada Life Assurance Europe Limited, estimated spending on IT by channel (%), 2009 53
Figure 19: FBD Holdings Plc, estimated spending by IT segment (%), 2009 56
Figure 20: FBD Holdings Plc, estimated spending by IT sub-segment ($m), 2009 58
Figure 21: FBD Holdings Plc, estimated spending on IT by channel (%), 2009 60
Figure 22: Seb Life (Ireland) Assurance Company Limited, estimated spending by IT segment (%), 2009 63
Figure 23: Seb Life (Ireland) Assurance Company Limited, estimated spending by IT sub-segment ($m), 2009 65
Figure 24: Seb Life (Ireland) Assurance Company Limited, estimated spending on IT by channel (%), 2009 67
Figure 25: CNP Europe Life Limited, estimated spending by IT segment (%), 2009 70
Figure 26: CNP Europe Life Limited, estimated spending by IT sub-segment ($m), 2009 72
Figure 27: CNP Europe Life Limited, estimated spending on IT by channel (%), 2009 74
Figure 28: Hannover Life Reassurance (Ireland) Limited, estimated spending by IT segment (%), 2009 77
Figure 29: Hannover Life Reassurance (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 79
Figure 30: Hannover Life Reassurance (Ireland) Limited, estimated spending on IT by channel (%), 2009 81
Figure 31: Canada Life Assurance (Ireland) Limited, estimated spending by IT segment, 2009 84
Figure 32: Canada Life Assurance (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 86
Figure 33: Canada Life Assurance (Ireland) Limited, estimated spending on IT by channel (%), 2009 88

LIST OF TABLES
Table 1: Definitions: IT segments and sub segments 10
Table 2: Definitions: channels 11
Table 3: Top ten companies in the Irish insurance industry, estimated spending on IT ($m), 2009–10 13
Table 4: Top ten companies in the Irish insurance industry, estimated spending by technology segment ($m), 2009 15
Table 5: Top ten companies in the Irish insurance industry, estimated spending on IT by channel ($m), 2009 17
Table 6: Zurich Insurance Plc, IT budget estimates (%), 2009–10 18
Table 7: Zurich Insurance Plc, IT budget by estimated entity (as % of overall IT budget), 2009 18
Table 8: Zurich Insurance Plc, estimated spending by IT segment ($m), 2009 20
Table 9: Zurich Insurance Plc, estimated spending by IT sub-segment ($m), 2009 22
Table 10: Zurich Insurance Plc, estimated spending on IT by channel ($m), 2009 24
Table 11: IT contract: Zurich Insurance Plc with Orange Business Services 25
Table 12: Allied World Assurance Holdings (Ireland) Limited, IT budget estimates (%), 2009–10 27
Table 13: Allied World Assurance Holdings (Ireland) Limited, estimated IT budget by entity (as % of overall IT budget), 2009 27
Table 14: Allied World Assurance Holdings (Ireland) Limited, estimated spending by IT segment ($m), 2009 29
Table 15: Allied World Assurance Holdings (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 31
Table 16: Allied World Assurance Holdings (Ireland) Limited, estimated spending on IT by channel ($m), 2009 33
Table 17: Irish Life Assurance plc, IT budget estimates (%), 2009–10 34
Table 18: Irish Life Assurance plc, estimated IT budget by entity (as % of overall IT budget), 2009 34
Table 19: Irish Life Assurance plc, estimated spending by IT segment ($m), 2009 36
Table 20: Irish Life Assurance plc, estimated spending by IT sub-segment ($m), 2009 38
Table 21: Irish Life Assurance plc, estimated spending on IT by channel ($m), 2009 40
Table 22: AXIS Re Ltd, IT budget estimates (%), 2009–10 41
Table 23: AXIS Re Ltd, estimated IT budget by entity (as % of overall IT budget), 2009 41
Table 24: AXIS Re Ltd, estimated spending by IT segment ($m), 2009 43
Table 25: AXIS Re Ltd, estimated spending by IT sub-segment ($m), 2009 45
Table 26: AXIS Re Ltd, estimated spending on IT by channel ($m), 2009 47
Table 27: Canada Life Assurance Europe Limited, IT budget estimates (%), 2009–10 48
Table 28: Canada Life Assurance Europe Limited, estimated IT budget by entity (as % of overall IT budget), 2009 48
Table 29: Canada Life Assurance Europe Limited, estimated spending by IT segment ($m), 2009 50
Table 30: Canada Life Assurance Europe Limited, estimated spending by IT sub-segment ($m), 2009 52
Table 31: Canada Life Assurance Europe Limited estimated spending on IT by channel ($m), 2009 54
Table 32: FBD Holdings Plc, IT budget estimates (%), 2009–10 55
Table 33: FBD Holdings Plc, estimated IT budget by entity (as % of overall IT budget), 2009 55
Table 34: FBD Holdings Plc, estimated spending by IT segment ($m), 2009 57
Table 35: FBD Holdings Plc, estimated spending by IT sub-segment ($m), 2009 59
Table 36: FBD Holdings Plc, estimated spending on IT by channel ($m), 2009 61
Table 37: Seb Life (Ireland) Assurance Company Limited, IT budget estimates (%), 2009–10 62
Table 38: Seb Life (Ireland) Assurance Company Limited, estimated IT budget by entity (as % of overall IT budget), 2009 62
Table 39: Seb Life (Ireland) Assurance Company Limited, estimated spending by IT segment ($m), 2009 64
Table 40: Seb Life (Ireland) Assurance Company Limited, estimated spending by IT sub-segment ($m), 2009 66
Table 41: Seb Life (Ireland) Assurance Company Limited, estimated spending on IT by channel ($m), 2009 68
Table 42: CNP Europe Life Limited, IT budget estimates (%), 2009–10 69
Table 43: CNP Europe Life Limited, estimated IT budget by entity (as % of overall IT budget), 2009 69
Table 44: CNP Europe Life Limited, estimated spending by IT segment ($m), 2009 71
Table 45: CNP Europe Life Limited, estimated spending by IT sub-segment ($m), 2009 73
Table 46: CNP Europe Life Limited, estimated spending on IT by channel ($m), 2009 75
Table 47: Hannover Life Reassurance (Ireland) Limited, IT budget estimates (%), 2009–10 76
Table 48: Hannover Life Reassurance (Ireland) Limited, estimated IT budget by entity (as % of overall IT budget), 2009 76
Table 49: Hannover Life Reassurance (Ireland) Limited, estimated spending by IT segment ($m), 2009 78
Table 50: Hannover Life Reassurance (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 80
Table 51: Hannover Life Reassurance (Ireland) Limited, estimated spending on IT by channel ($m), 2009 82
Table 52: Canada Life Assurance (Ireland) Limited, IT budget estimates (%), 2009–10 83
Table 53: Canada Life Assurance (Ireland) Limited, estimated IT budget by entity (as % of overall IT budget), 2009 83
Table 54: Canada Life Assurance (Ireland) Limited, estimated spending by IT segment ($m), 2009 85
Table 55: Canada Life Assurance (Ireland) Limited, estimated spending by IT sub-segment ($m), 2009 87
Table 56: Canada Life Assurance (Ireland) Limited, estimated spending on IT by channel ($m), 2009 89



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