European insurers face a tough market environment, and CIOs have to carefully select their investments if they want to efficiently support their business operations.

European insurers face a tough market environment, and CIOs have to carefully select their investments if they want to efficiently support their business operations. European insurance CIOs are managing budgets and programs to address key challenges around legacy system replacement and modernization, digital transformation, and innovation.

“Process optimization is the business objective that has the most significant influence on European insurers’ IT plans,” says Nicolas Michellod, Celent insurance analyst and coauthor of the report.

“Digital initiatives concentrate on new business process and policyholder service process digitization as well as business process automation,” adds Jamie Macgregor, head of the Celent Insurance practice and coauthor of the report.

Trends discussed in this report reflect Celent’s experience of the market based on ongoing discussions with the industry and, specifically, interviews with CIOs at the beginning of 2016.

This 24-page report is available to all Celent insurance subscribers.