Celent’s 2017 IT spending report estimates that 13%, or US$0.7 billion in 2017, of LATAM insurance company IT investments will be allocated to external services. This report can help firms identify IT services vendors for their needs.

IT service vendors are becoming an integral part of the insurance landscape; even the most self-reliant insurers with expert IT organizations are experimenting with using an IT services partner for projects. External service spending is projected to grow by 13.2% from 2017 to 2019 as insurers begin to expand their use of outside service providers. These vendors exist in varying sizes, skills, and focus across the globe, but in LATAM we are only able to profile eight vendors. This means Celent is not able to provide an exhaustive list of IT service vendors; however, this report captures a cross-section of the available vendors and functions, and over time it will include more.