Claims automation in Europe: opportunities in P&C insurance

Introduction:
With the cost of claims accounting for up to 80-85% of the total operational costs of European P&C insurers, re-engineering the claims process from end to end has now become the number one strategic project for players in this space - translating into a $2 billion market for technology vendors.

Scope:
* Based on interviews with technology vendors and end-users, plus Datamonitor's in-house expertise

* IT spending forecasts for claims processing to 2004, broken down by country, source and activity

* Analysis of the vendor market in the claims space

* Drill-down into key business and technology issues

Report Highlights:
Claims remain the major cost center for property and casualty insurers, accounting for up to 80%-85% of an insurer’s total operating costs. They are thus the number one target for cost reduction in an environment where driving down combined ratios and reducing the reliance on investment income is top priority.

Over the next two years, a large proportion of IT spending on the claims process will be driven by the UK and Germany. Datamonitor believes that IT spend in these two markets will reach a combined total of $1 billion by 2004.

Datamonitor believes that the most significant market opportunities in claims automation technology are claims processing and claims handling, which will be worth $387m and $896m in 2003 respectively.

Reasons to Purchase:
* Use Datamonitor's timely and concise analysis of key business and technology issues to develop a compelling go-to-market strategy

* Determine your medium-term objectives and using Datamonitor's robust, granular market forecasts

* Assess your offering in the light of those of your competitors and determine future development objectives