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Business Strategy: A Review of Insurance IT Executive 2009 Survey ResultsPublished by: IDC Published: Feb. 18, 2010 - 37 Pages Table of ContentsTable of Contents Financial Insights Opinion In This Report MethodologySituation Overview Survey Respondent DemographicsIT Spending ChangePurchasing DecisionsInitiatives and Emerging TechnologyFamiliarity with New TechnologiesVendor Selection and PerformanceFuture Outlook Essential Guidance Actions for Insurance CompaniesActions for VendorsLearn More Related ResearchSynopsisTable: Respondents by Job Title Table: Initiatives Driving IT Investments over the Next 12 Months Table: Products or Services That Need to Be Tailored to the Industry Table: IT Solutions Investment Plans in the Next 12 Months by Application Type (% of Respondents) Figure: Respondents by Insurance Subindustry Figure: Changes in Overall IT Spending, 2009 Figure: Expected Percentage of Increase in IT Spending, 2009 Figure: Expected Percentage of Decrease in IT Spending, 2009 Figure: Impact of 2008 Economic Downturn on Organization's IT Staff in 2009 Figure: Impact of 2008 Economic Downturn on the Organization's Use of External Contractors/Consultants in 2009 Figure: Actions Taken to Cut IT Spending, 2009 Figure: Percentage of Final IT Purchasing Decisions for Specific Brand/Product Selection by Business Area Figure: Familiarity with Technologies Figure: Status of Service-Oriented Architecture Adoption Figure: Status of Software-as-a-Service Adoption Figure: Status of Server Virtualization Adoption Figure: Status of Storage Virtualization Adoption Figure: Status of Desktop Virtualization Adoption Figure: Status of Green Datacenter Adoption Figure: Top Reason to Adopt Service-Oriented Architecture Figure: Main Provider of Service-Oriented Architecture Solutions Figure: Reasons for Not Using/Not Considering Service-Oriented Architecture Figure: Top Reason to Adopt Software as a Service Figure: Current Views for Not Using/Not Considering Software as a Service Figure: Top IT Vendors Figure: Importance of Criteria for Choosing Top IT Vendors Figure: Organization's Plans for Working with Indian IT Services Providers Figure: Level of Additional Miscellaneous Spending in the Organization, 2008 and 2009 Figure: Allocation of IT Spending on Essential Software IT Investments, 2008 and 2009 Figure: Allocation of IT Spending on Innovative IT Investments, 2008 and 2009 Figure: Allocation of IT Spending on Staff and Salaries, 2008 and 2009 Figure: Allocation of IT Spending on Hardware, Software, IT Services, and Telecommunications Services, 2008 and 2009 Figure: Importance of Investment in IT Solution Areas Figure: Implementation of IT Solutions for Specific Solution Areas AbstractThis IDC Financial Insights report discusses the results from IDC's 2009 Annual Verticals Survey. As IT spend among North American insurers continues to feel the pressure of the current economic climate, insurance executives are sharply focused on maximizing IT budgets that include delaying new and innovative IT projects in favor of essentials such as security and agency commissions and applications. The survey includes findings from 252 insurance IT executives and managers that provide insight to both financial institutions and vendors on how insurers are managing IT budgets through this current economic environment. "In the wake of staff reductions and delayed projects, priorities continued to be focused on reducing cost, improving efficiency, and retaining existing customers," according to David Potterton, vice president for Global Research, IDC Financial Insights. "However, insurers, and the vendors that serve them, must keep innovation on the strategic radar to meet the needs of increasingly complex and demanding customers as the economy recovers in 2010." Get Full Details About This Report >> |
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