This report reviews business trends facing the insurance market in Latin America and how they are driving IT investment and strategies. Process optimization, IT-enabled innovation, and growth and retention are the business goals most significantly driving IT plans, and where activity is focused. Most insurers will spend between 2% and 4% of their DWP to support these initiatives and keep the business running. The average is 3.15%.

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 2016.

Celent 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.

“It’s rewarding to see how Digital and Innovation continue to be top in the priority of CIOs,” says Juan Mazzini, a senior analyst with Celent’s Insurance practice and author of the report. “Even though the results are not so visible yet, the industry is taking steps in the right direction.”