Insurance in France 2012: The CIO Perspective

by Nicolas Michellod, March 9, 2012
Industry Trends
EMEA

Abstract

French insurers are focusing on business themes aimed at responding to current economic and financial challenges. Insurers are looking at adjusting their business models, restructuring parts of their internal organization, and applying tactical adjustments to their business operations.

In a new report, Insurance in France in 2012: The CIO Perspective, Celent examines business priorities, IT initiatives and spending, and other IT-related topics within the French insurance industry. This report is the third version of the French CIO Perspective series, whose goal is to evaluate how business concerns, IT budgets, investment focus, and other priorities have changed in the recent past.

“While innovation is not exclusively focused on information technology, Celent believes that IT involvement in a framework whose goal is to identify potential new ideas and implement them is crucial,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance group and author of the report. “Innovation should not focus solely on new or emerging technologies. When considering applying new technologies, insurers should use a framework that allows them to understand the real value and changes they might bring.”

This report discusses trends reflecting Celent’s experience of the market based on ongoing discussions with the industry and, specifically, deep interviews with 14 French CIOs at the end of 2011 and beginning of 2012. This report also provides broad IT investment plans and priorities for French insurers in 2012, details of budgets, generation of innovation programmes, and information about the Solvency II preparation.

A French version of the report is also available.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Tylor Tourville
ttourville@celent.com
Tel.: +1 617 424 3284

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

3

Introduction

4

The State of the French Insurance Market

6

Business Themes and IT Initiatives

11

IT Budgets and Spending

17

Solvency II Preparation

20

Innovation and Emerging Technology Adoption

24

Final Thoughts

29

Leveraging Celent’s Expertise

30

Related Celent Research

31

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