In This Study Situation Overview The Insurance Business ModelThe EconomyInvestment DriversOrganizational and Business PrioritiesTechnology Adoption StatusThe Approach Future Outlook The Future Competitive SpaceEssential Guidance Actions to ConsiderActions for Financial InstitutionsActions for VendorsLearn More Related ResearchSynopsisTable: Canadian Insurers' Top Drivers for IT Investments in the Next 12 Months Figure: Canadian Insurers' Adoption of New Technologies Figure: Canadian Insurers' Corporate Application Adoption Status
This IDC Financial Insights report discusses the results of the Canadian Financial Services Survey of Canadian L&H and P&C insurers that focused on 2010 technology investments and planned 2011 investments. Canadian insurers continue to wrestle with the uncertain economic times. This has resulted in opportunities for changes to organizational and business priorities, reflected in the insurers' investment priorities. Priority is being placed on IT reliability and efficiency, improving security, and retaining existing customers.
According to John O'Brien, senior analyst, IDC Financial Insights, "The good news for technology strategists is that the opportunity exists for them to collaborate with the business and find new ways to more efficiently manage operations while increasing revenue."