Business Strategy: Current Trends in Canadian Insurance Technology Investments

IDC
December 29, 2009
23 Pages - SKU: IDC2576567
License type:
Countries covered: Canada

This Financial Insights report discusses the results of a survey of Canadian L&H and P&C insurers that focused on 2009 technology investments and planned 2010 investments. Canadian insurers continue to recover from the financial crisis of 2008. The crisis has brought a sea change to organizational and business priorities reflected in the ICT investments now being made. Priority is being placed on customer retention, risk management, and improving operational efficiency. ICT investments in enterprise data management, customer relationship management, and specific insurance core systems support these efforts. Canadian P&C insurers continue to be more optimistic about 2010 than their L&H counterparts.

According to Robert Burbach, senior analyst, IDC Financial Insights, "While the alarms arising from the 2008 crisis are now past us, Canadian insurers will continue to invest cautiously in ICT in this uncertain environment."



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