Insurance Industry Technology Spending Forecast in the US to 2014

Introduction

This databook provides comprehensive and up-to-date information on technology spending within the insurance industry in the US, across a range of sources and locations.

Scope

*Provides a breakdown of technology spending in the US insurance industry by function

*Assesses the revenue opportunities within the front office, middle office and back office

*The report also provides a breakdown of two business lines, 13 business functions and three business locations within the insurance industry

Highlights

Policy administration led the insurance technology spending in the US in 2008, accounting for 20%. Insurance technology spending in the US is forecast to grow at a CAGR of 4.3% over the period 2009-14.

Life insurance technology spending in the US is forecast to grow at a CAGR of 4.1% over the period 2009-14. Non-life insurance technology spending in the US is forecast to grow at a CAGR of 4.5% over the period 2009-14.

Reasons to Purchase

*Develop business strategies from spending pattern analysis within the insurance industry in the US

*Design effective marketing and sales strategies by identifying key and fast growth segments within the insurance industry

*Make informed business decisions through an understanding of the overall spending trends within the insurance industry in the US


Report Highlights

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TABLE OF CONTENTS
OVERVIEW 1
Catalyst 1
Summary 1
INTRODUCTION 5
Reasons to purchase 5
Definitions 5
INSURANCE INDUSTRY TECHNOLOGY SPENDING 10
Overview 10
Spend by line of business 12
Spend by technology source 14
Spend by business function 18
Technology spend by location 22
LIFE INSURANCE TECHNOLOGY SPENDING 26
Spend by technology source 26
Spend by business function 30
Spending by location 34
NON-LIFE INSURANCE TECHNOLOGY SPENDING 38
Spend by technology source 38
Spending by business function 42
Spending by location 46
APPENDIX 50
Methodology 50
Further reading 51
Disclaimer 51

LIST OF FIGURES
Figure 1: Insurance industry, US, technology spend ($m) and growth (%), 2006–14 10
Figure 2: Insurance industry, US, technology spend by line of business ($m), 2006–08 12
Figure 3: Insurance industry, US, technology spend by line of business ($m), 2009–14 13
Figure 4: Insurance industry, US, technology spend by source (%), 2008 14
Figure 5: Insurance industry, US, technology spend by source ($m), 2009–14 16
Figure 6: Insurance industry, US, technology spend by business function ($m), 2007 and 2008 18
Figure 7: Insurance industry, US, technology spend by business function ($m), 2009–14 20
Figure 8: Insurance industry, US, technology spend by location (%), 2008 22
Figure 9: Insurance industry, US, technology spend by location ($m), 2009–14 24
Figure 10: Life insurance, US, technology spend by source (%), 2008 26
Figure 11: Life insurance, US, technology spend by source ($m), 2009–14 28
Figure 12: Life insurance, US, technology spend by business function ($m), 2007 and 2008 30
Figure 13: Life insurance, US, technology spending by business function ($m), 2009–14 32
Figure 14: Life insurance, US, technology spending by location (%), 2008 34
Figure 15: Life insurance, US, technology spending by location ($m), 2009–14 36
Figure 16: Non-life insurance, US, technology spend by source (%), 2008 38
Figure 17: Non-life insurance, US, technology spend by source ($m), 2009–14 40
Figure 18: Non-life insurance, US, technology spending by business function ($m), 2007 and 2008 42
Figure 19: Non-life insurance, US, technology spending by business function ($m), 2009–14 44
Figure 20: Non-life insurance, US, technology spending by location (%), 2008 46
Figure 21: Non-life insurance, US, technology spending by location ($m), 2009–14 48
Figure 22: Insurance industry technology spending, forecast methodology 50

LIST OF TABLES
Table 1: Insurance business functions definitions 7
Table 2: Insurance lines of business definitions 8
Table 3: Insurance location definitions 8
Table 4: Insurance industry technology sources: definitions 9
Table 5: Insurance industry, US, technology spend ($m) and growth (%), 2006–14 12
Table 6: Insurance industry, US, technology spend by line of business ($m), 2006–08 13
Table 7: Insurance industry, US, technology spend by line of business ($m), 2009–14 14
Table 8: Insurance industry, US, technology spend by source ($m), 2006–08 16
Table 9: Insurance industry, US, technology spend by source ($m), 2009–14 18
Table 10: Insurance industry, US, technology spend by business function ($m), 2006–08 20
Table 11: Insurance industry, US, technology spend by business function ($m), 2009–14 22
Table 12: Insurance industry, US, technology spending by location ($m), 2006–08 24
Table 13: Insurance industry, US, technology spending by location ($m), 2009–14 26
Table 14: Life insurance, US, technology spend by source ($m), 2006–08 28
Table 15: Life insurance, US, technology spend by source ($m), 2009–14 30
Table 16: Life insurance, US, technology spending by business function ($m), 2006–08 32
Table 17: Life insurance, US, technology spending by business function ($m), 2009–14 34
Table 18: Life insurance, US, technology spending by location ($m), 2006–08 36
Table 19: Life insurance, US, technology spending by location ($m), 2009–14 38
Table 20: Non-life insurance, US, technology spend by source ($m), 2006–08 40
Table 21: Non-life insurance, US, technology spend by source ($m), 2009–14 42
Table 22: Non-life insurance, US, technology spending by business function ($m), 2006–08 44
Table 23: Non-life insurance, US, technology spending by business function ($m), 2009–14 46
Table 24: Non-life insurance, US, technology spending by location ($m), 2006–08 48
Table 25: Non-life insurance, US, technology spending by location ($m), 2009–14 50


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