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IT Spending in Insurance

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16 November 2022

Tortuous Road Ahead

Abstract

Following turbulent times marked by the pandemics, insurers have to plan their investments in IT carefully. The current macroeconomic conditions and the geopolitical situation make the future difficult to anticipate. However, insurers know technology is a strategic investment as they continue to acclerate their digital transformation.

We anticipate insurers will need to continue to invest in technology to create long-term value for their customers and distribution partners. The new challenges they are facing require them to show flexibility and adaptability.

This report analyses regional IT spending patterns of insurance companies and presents a high-level view of the insurance global market. It examines estimates for IT budgets based on premium growth as well as the impact of technology on strategic and business trends.