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2008 Trends to Watch: Insurance Technology

Published by: Datamonitor

Published: Feb. 20, 2008 - 13 Pages


Table of Contents


DATAMONITOR VIEW
CATALYST
SUMMARY
ANALYSIS
Rationalization, systems replacement and SOA will be core cost reduction strategies
Insurers will continue to develop their online presence for both sales and service
BPO will gain momentum among medium sized insurers
Compliance will spur investment in a variety of technologies, including document management, business intelligence and analytics
ACTIONS
Vendor's must quell recession jitters that could lead insurers to recoil from IT investments
Highlight the business case for IT, as opposed to the technical case
Flexibility and scalability are the key words in 2008
APPENDIX
Abbreviations
Methodology
Further reading
Ask the analyst
Datamonitor consulting
Disclaimer
List of Figures
Figure 1: 2008 IT objectives
Figure 2: IT objectives for reducing operational costs
Figure 3: Policy administration strategies
Figure 4: Channel priorities
Figure 5: BPO by company size
Figure 6: Key areas for meeting regulatory compliance


Abstract

Introduction

Technology markets are changing fast. This brief identifies and tracks the key forces shaping the prospects for your business. In this piece, Datamonitor’s analyst specializing in Insurance Technology will outline the changes in your market, explain which trends will have the biggest impact, and highlight who will benefit from the fast-paced developments in insurance technology.

Scope

An overview of the market environment facing insurers in 2008. Datamonitor's view of the technology priorities for both life and non-life insurers. Action points to help vendors in the insurance technology market.

Highlights

In such a market, where competition from both traditional and non-traditional players is fierce, insurers must employ a multi-pronged strategy that reduces costs and increases revenues. While insurers are poised to rationalize their legacy systems in 2008, there is also a movement to replace entire platforms. In addition to a service tool, insurers are increasingly looking to the internet as a conduit for direct sales.

Reasons to Purchase

Learn about the trends in insurance technology in 2008. Gain insight into the technology areas insurance companies are investing in.


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