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Business Strategy: Current Trends in Canadian Insurance Technology InvestmentsPublished by: IDC Published: Dec. 29, 2009 - 23 Pages Table of ContentsTable of Contents Financial Insights Opinion In This Report Situation Overview Effects from the Financial Crisis of 2008 and 2009The Elderly Are ComingAgeing Canadian PopulationOrganizational and Business PrioritiesOrganizational PrioritiesBusiness PrioritiesThe ApproachTop Investments Driven by Business Priorities2009 Current ICT Implementations for L&H and P&C Insurers2009 Finished Implementations for L&H and P&C InsurersCrisis Impact on 2009 ICT BudgetsFuture Outlook Are Canadian Insurance ICT Budgets Bouncing Back in 2010?How Will Spending Category Priorities Change?New ICT Investments in Life and Health InsuranceNew ICT Investments in Property and Casualty InsuranceEssential Guidance Actions for Financial InstitutionsActions for VendorsLearn More Related ResearchSynopsisTable: Canada Key Financial Performance Metrics at Large Financial Institutions, 1Q08–3Q09 (C$000) Table: Canada Projected Population CAGRs for Select Age Segments Figure: Canada Projected Population for Select Age Segments, 2006, 2016, and 2026 Figure: Top Organizational Priorities for Canadian Insurers, 2009 Figure: Top Business Priorities for Canadian Insurers, 2009 Figure: Other ICT Investments for Canadian Insurers, 2009 Figure: Impact of Economic Crisis on ICT Budgets by Insurance Sector, 2009 Figure: ICT Budget Share by ICT Segment and Insurance Sector, 2009 Figure: Expected Impact of Crisis on ICT Budget by Insurance Sector, 2010 Figure: Change in ICT Budget by ICT Segment, 2010: Life and Health Insurance Figure: Change in ICT Budget by ICT Segment, 2010: Property and Casualty Insurance Figure: Planned ICT Investments, 2010: Life and Heath Insurance Figure: Planned ICT Investments, 2010: Property and Casualty Insurance AbstractThis 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." Get Full Details About This Report >> |
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