Global Insurance Technology Business Update H2 2008DatamonitorDecember 25, 2008 32 Pages - SKU: DFMN2091414 |
| Countries covered: Global Introduction The insurance sector is struggling, as premiums are down and the equities, debt and real estate markets continue to slide. In addition, insurers in mature markets are struggling to find pockets of growth. The combination of lower margins, dwindling investment income and market maturity are driving insurers to improve efficiency. Scope
A number of insurers made significant returns from strategies outside of their core competency of underwriting risks. These strategies, such as securities lending and writing credit default swaps, will likely be scaled back, resulting in more stable but less profitable enterprises. Datamonitor expects IT spending by insurers to slow in 2009, but not contract. In the mature markets of North America and Europe, spending will grow at roughly 1% in 2009, and then return to a healthier 4-5% rate in 2011. In the current environment, insurers are limited in their ability to drive premium growth and are at the mercy of the market in terms of investment income. There is, however, one area of the business that insurers can control to the benefit of the bottom-line: the expense ratio. Reasons to Purchase
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