What are Asia-Pacific insurers’ priorities? How do they spend their IT budget? What are their plans in terms of legacy system modernization, digital transformation, operational excellence, data, analytics, artificial intelligence, and innovation?

Every year Celent asks Asia-Pacific insurers about the business goals influencing their IT plans.

Last year, Celent found that Asia-Pacific insurers have been focused on regulation or growth, retention, and improving the way they conduct their business, mainly through process optimization.

This year growth and retention makes the top of insurers’ agenda. Seeing Asia-Pacific insurers planning their IT investments to support growth and retention is not a surprise, because we have already seen the same trend in Europe, following a focus on innovation last year.