This report reviews current business trends facing the insurance market in Latin America and how they are driving IT investment and strategies. Process optimization, meeting regulatory requirements, and IT-enabled innovation are the main business drivers of IT plans. As a result, activity is focused in IT projects related to digital transformation initiatives and IT-enabled innovation, followed by core system replacement and data mastery/analytics.

Every year Celent surveys insurance CIOs asking them about their pressures, priorities, and practices for the coming year. This report provides the most important results from the survey completed for 2015.

This report examines current business trends facing the Latin American market and how they are driving IT investment and strategies. Celent’s goal in this report is to provide an outlook on insurance and IT for the region, along with the IT initiatives around the main themes of coverage:

• Digital
• Analytics
• Legacy and ecosystem transformation
• Innovation

“Digital transformation projects and IT-enabled innovation stand as the top priorities for CIOs, followed by core system replacement and data mastery and analytics,” says Juan Mazzini, a senior analyst with Celent’s Insurance practice and author of the report. “If you want to think of how to be the successful insurer of tomorrow, you need to consider these priorities as an interrelated system today.”