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Top 10 Companies in Canada Insurance Industry: IT Spending Predictor 2009

Published by: Datamonitor

Published: Aug. 25, 2009 - 89 Pages


Table of Contents


OVERVIEW
Catalyst
Summary
INTRODUCTION
Reasons to Purchase
Definitions
CANADA INSURANCE INDUSTRY: ESTIMATED SPENDING ON IT
Overview
Estimated spending by technology segment
Estimated IT spending by channel
MANULIFE FINANCIAL CORP
Budget overview
Manulife Financial Corp, estimated spending on IT
Manulife Financial Corp, estimated IT spending by channel
THE GREAT-WEST LIFE ASSURANCE CO
Budget overview
The Great-West Life Assurance Co, estimated spending on IT
The Great-West Life Assurance Co, estimated IT spending by channel
SUN LIFE FINANCIAL INC
Budget overview
Sun Life Financial Inc, estimated spending on IT
Sun Life Financial Inc, estimated IT spending by channel
WORKPLACE SAFETY & INSURANCE BOARD
Budget overview
Workplace Safety & Insurance Board, estimated spending on IT
Workplace Safety & Insurance Board, estimated IT spending by channel
INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC
Budget overview
Industrial Alliance Insurance and Financial Services Inc, estimated spending on IT
Industrial Alliance Insurance and Financial Services Inc, estimated IT spending by channel
ING CANADA INC
Budget overview
ING Canada Inc, estimated spending on IT
ING Canada Inc, estimated IT spending by channel
WORKERS’ COMPENSATION BOARD OF BRITISH COLUMBIA
Budget overview
Workers’ Compensation Board of British Columbia, estimated spending on IT
Workers’ Compensation Board of British Columbia, estimated IT spending by channel
DESJARDINS FINANCIAL SECURITY LIFE ASSURANCE CO
Budget overview
Desjardins Financial Security Life Assurance Co, estimated spending on IT
Desjardins Financial Security Life Assurance Co, estimated IT spending by channel
ABC BENEFITS CORP
Budget overview
ABC Benefits Corp, estimated spending on IT
ABC Benefits Corp, estimated IT spending by channel
WORKER’S COMPENSATION BOARD ALBERTA
Budget overview
Worker’s Compensation Board Alberta, estimated spending on IT
Worker’s Compensation Board Alberta, estimated IT spending by channel
APPENDIX
Methodology
Further reading
How to contact experts in your industry
Disclaimer
LIST OF FIGURES
Figure 1: Insurance industry, Canada, spending on IT ($m), 2008 and 2009
Figure 2: Insurance industry, Canada, estimated spending by IT segment ($m), 2008
Figure 3: Insurance industry, Canada, estimated spending on IT by channel ($m), 2008
Figure 4: Manulife Financial Corp, estimated spending by IT segment, 2008
Figure 5: Manulife Financial Corp, estimated spending by IT sub-segment ($m), 2008
Figure 6: Manulife Financial Corp, estimated spending on IT by channel, 2008
Figure 7: The Great-West Life Assurance Co, estimated spending by IT segment, 2008
Figure 8: The Great-West Life Assurance Co, estimated spending by IT sub-segment ($m), 2008
Figure 9: The Great-West Life Assurance Co, estimated spending on IT by channel, 2008
Figure 10: Sun Life Financial Inc, estimated spending by IT segment, 2008
Figure 11: Sun Life Financial Inc, estimated spending by IT sub-segment ($m), 2008
Figure 12: Sun Life Financial Inc, estimated spending on IT by channel, 2008
Figure 13: Workplace Safety & Insurance Board, estimated spending by IT segment, 2008
Figure 14: Workplace Safety & Insurance Board, estimated spending by IT sub-segment ($m), 2008
Figure 15: Workplace Safety & Insurance Board, estimated spending on IT by channel, 2008
Figure 16: Industrial Alliance Insurance and Financial Services Inc, estimated spending by IT segment, 2008
Figure 17: Industrial Alliance Insurance and Financial Services Inc, estimated spending by IT sub-segment ($m), 2008
Figure 18: Industrial Alliance Insurance and Financial Services Inc, estimated spending on IT by channel, 2008
Figure 19: ING Canada Inc, estimated spending by IT segment, 2008
Figure 20: ING Canada Inc, estimated spending by IT sub-segment ($m), 2008
Figure 21: ING Canada Inc, estimated spending on IT by channel, 2008
Figure 22: Workers’ Compensation Board of British Columbia, estimated spending by IT segment, 2008
Figure 23: Workers’ Compensation Board of British Columbia, estimated spending by IT sub-segment ($m), 2008
Figure 24: Workers’ Compensation Board of British Columbia, estimated spending on IT by channel, 2008
Figure 25: Desjardins Financial Security Life Assurance Co, estimated spending by IT segment, 2008
Figure 26: Desjardins Financial Security Life Assurance Co, estimated spending by IT sub-segment ($m), 2008
Figure 27: Desjardins Financial Security Life Assurance Co, estimated spending on IT by channel, 2008
Figure 28: ABC Benefits Corp, estimated spending by IT segment, 2008
Figure 29: ABC Benefits Corp, estimated spending by IT sub-segment ($m), 2008
Figure 30: ABC Benefits Corp, estimated spending on IT by channel, 2008
Figure 31: Worker’s Compensation Board Alberta, estimated spending by IT segment, 2008
Figure 32: Worker’s Compensation Board Alberta, estimated spending by IT sub-segment ($m), 2008
Figure 33: Worker’s Compensation Board Alberta, estimated spending on IT by channel, 2008
Figure 34: Research methodology
LIST OF TABLES
Table 1: IT segments and sub segments
Table 2: Channel definitions
Table 3: Insurance industry, Canada, estimated spending on IT ($m), 2008 and 2009
Table 4: Insurance industry, Canada, estimated spending by technology segment ($m), 2008
Table 5: Insurance industry, Canada, estimated spending on IT by channel ($m), 2008
Table 6: Manulife Financial Corp, IT budget estimates (%), 2008-09
Table 7: Manulife Financial Corp, IT budget by estimated entity (as % of overall IT budget), 2008
Table 8: Manulife Financial Corp, estimated spending by IT segment, 2008
Table 9: Manulife Financial Corp, estimated spending by IT sub-segment, 2008
Table 10: Manulife Financial Corp, estimated spending on IT by channel, 2008
Table 11: The Great-West Life Assurance Co, IT budget estimates (%), 2008-09
Table 12: The Great-West Life Assurance Co, estimated IT budget by entity (as % of overall IT budget), 2008
Table 13: The Great-West Life Assurance Co, estimated spending by IT segment, 2008
Table 14: The Great-West Life Assurance Co, estimated spending by IT sub-segment, 2008
Table 15: The Great-West Life Assurance Co, estimated spending on IT by channel, 2008
Table 16: Sun Life Financial Inc, IT budget estimates (%), 2008-09
Table 17: Sun Life Financial Inc, estimated IT budget by entity (as % of overall IT budget), 2008
Table 18: Sun Life Financial Inc, estimated spending by IT segment, 2008
Table 19: Sun Life Financial Inc, estimated spending by IT sub-segment, 2008
Table 20: Sun Life Financial Inc, estimated spending on IT by channel, 2008
Table 21: Workplace Safety & Insurance Board, IT budget estimates (%), 2008-09
Table 22: Workplace Safety & Insurance Board, estimated IT budget by entity (as % of overall IT budget), 2008
Table 23: Workplace Safety & Insurance Board, estimated spending by IT segment, 2008
Table 24: Workplace Safety & Insurance Board, estimated spending by IT sub-segment, 2008
Table 25: Workplace Safety & Insurance Board, estimated spending on IT by channel, 2008
Table 26: Industrial Alliance Insurance and Financial Services Inc, IT budget estimates (%), 2008-09
Table 27: Industrial Alliance Insurance and Financial Services Inc, estimated IT budget by entity (as % of overall IT budget), 2008
Table 28: Industrial Alliance Insurance and Financial Services Inc, estimated spending by IT segment, 2008
Table 29: Industrial Alliance Insurance and Financial Services Inc, estimated spending by IT sub-segment, 2008
Table 30: Industrial Alliance Insurance and Financial Services Inc, estimated spending on IT by channel, 2008
Table 31: ING Canada Inc, IT budget estimates (%), 2008-09
Table 32: ING Canada Inc, estimated IT budget by entity (as % of overall IT budget), 2008
Table 33: ING Canada Inc, estimated spending by IT segment, 2008
Table 34: ING Canada Inc, estimated spending by IT sub-segment, 2008
Table 35: ING Canada Inc, estimated spending on IT by channel, 2008
Table 36: Workers’ Compensation Board of British Columbia, IT budget estimates(%), 2008-09
Table 37: Workers’ Compensation Board of British Columbia, estimated IT budget by entity (as % of overall IT budget), 2008
Table 38: Workers’ Compensation Board of British Columbia, estimated spending by IT segment, 2008
Table 39: Workers’ Compensation Board of British Columbia, estimated spending by IT sub-segment, 2008
Table 40: Workers’ Compensation Board of British Columbia, estimated spending on IT by channel, 2008
Table 41: Desjardins Financial Security Life Assurance Co, IT budget estimates (%), 2008-09
Table 42: Desjardins Financial Security Life Assurance Co, estimated IT budget by entity (as % of overall IT budget), 2008
Table 43: Desjardins Financial Security Life Assurance Co, estimated spending by IT segment, 2008
Table 44: Desjardins Financial Security Life Assurance Co, estimated spending by IT sub-segment, 2008
Table 45: Desjardins Financial Security Life Assurance Co, estimated spending on IT by channel, 2008
Table 46: ABC Benefits Corp, IT budget estimates (%), 2008-09
Table 47: ABC Benefits Corp, estimated IT budget by entity (as % of overall IT budget), 2008
Table 48: ABC Benefits Corp, estimated spending by IT segment, 2008
Table 49: ABC Benefits Corp, estimated spending by IT sub-segment, 2008
Table 50: ABC Benefits Corp, estimated spending on IT by channel, 2008
Table 51: Worker’s Compensation Board Alberta, IT budget estimates (%), 2008-09
Table 52: Worker’s Compensation Board Alberta, estimated IT budget by entity (as % of overall IT budget), 2008
Table 53: Worker’s Compensation Board Alberta, estimated spending by IT segment, 2008
Table 54: Worker’s Compensation Board Alberta, estimated spending by IT sub-segment, 2008
Table 55: Worker’s Compensation Board Alberta, estimated spending on IT by channel, 2008

Abstract

Introduction

This databook provides insight into the top 10 companies in Canada insurance industry in terms of their estimated IT spend.

Scope
  • Datamonitor’s view of the top 10 companies in this sector and geography in terms of IT spending
  • A breakdown of the estimated IT budget by technology for each of the top 10 companies
  • A breakdown of the estimated IT budget by channel for each of the top 10 companies
Highlights

The top 10 companies in Canada insurance industry in terms of estimated IT spending spent the largest portion of their IT budgets on hardware, a segment that accounted for about 32% of the IT budgets among these firms. This was followed by spending on software and services.

Among the top 10 companies, a major portion of IT spending is allocated to internal IT. External services include product vendors, local resellers, telcos, systems integrators and specialist outsourcers. Internal IT alone accounted for approximately 35% of the total estimated IT spending by these companies.

Reasons to Purchase
  • Understand the IT budget breakdown in various organization types and identify notable areas of allocation
  • Build lists of organizations with top IT expenditure in your target markets
  • Leverage IT spending pattern information to tailor account targeting based on company demographics


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