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Digital Marketplace: The Faint Pulse of Insurance Industry Activity

Published by: IDC

Published: Jul. 1, 2008 - 26 Pages


Table of Contents


Table of Contents

Financial Insights Opinion

In This Report

Situation Overview

Surveying the Insurance Industry

Figure: Survey Respondents by Title

Figure: Survey Respondents by Department

Figure: Survey Respondents by Company Size (2007 Net Written Premium)

Insurers' Current Uses of Digital Marketplace Media

Figure: Digital Marketplace Media Currently Used by Insurers

Figure: Number of Digital Marketplace Media Used by Insurers

Insurers' Planned Uses of Digital Marketplace Media

Figure: Insurers' Planned Use of Digital Marketplace Media

Figure: Insurers' Plans to Use Digital Marketplace Media

Figure: Insurers' Perceived Time Frame to Use Web 2.0 Technologies for Select Business Functions

Figure: Insurers' Sense of Urgency for Functional Areas to Use Digital Marketplace Media

Delving Deeper into Virtual Worlds

Figure: Insurers' Planned Use of Virtual Worlds for Specific Business Initiatives

Pioneering Insurance Initiatives

Accessing and Managing Digital Marketplace Information

Figure: Insurers' Purchase Plans for Specific Technologies

Figure: Insurers' Perception of Importance of Specific Technologies to Competitive Success of Their Company

Future Outlook

Figure: Digital Marketplace Insurance Data

Essential Guidance

Actions for Insurance Companies

Figure: Digital Marketplace Business Applications

Figure: Make a Key Decision

Actions for Vendors

Learn More

Related Research

Appendix

Visualizing the Digital Marketplace

Gateways, Hubs, and Nodes

Figure: Digital Marketplace

The Evolving Digital Marketplace

Figure: The Evolving Web

Continuing Emergence of New Media

Figure: Portfolio of IP-Enabled Media

Potential Insurance Industry Applications

Table: Potential Insurance Industry Applications of Select Digital Marketplace Media

Synopsis

Abstract

This Financial Insights report reveals the results of a survey of insurance executives' current and planned uses of technologies at play in the digital marketplace and identifies what a few pioneering insurers are doing in this new environment.

"The digital marketplace is an emergent, yet rapidly growing U.S. trillion-dollar galaxy of interdependent businesses located around the globe. This marketplace is an inflection point in the natural evolutionary path of commerce because of its digital essence and concomitant business and social applications that leverage the Internet. The insurance industry is not known for either fearlessly applying emerging technologies or quickly entering new markets. Unfortunately, insurance industry activity in the digital marketplace is no exception," states Barry Rabkin, a senior research analyst in Financial Insights' Insurance practice.



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