IT Spending Trends in the Japanese Insurance Industry: 2011
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12 August 2011KyongSun Kong
Celent published a new report “IT Spending Trends in the Japanese Insurance Industry: 2011” which is the updated version of IT Spending Trends in the Japanese Insurance Industry: 2010 (http://www.celent.com/reports/it-spending-trends-japanese-insurance-industry-2010). In March, Japan was rocked by one of the largest earthquakes on record. Despite the massive scale of the Great East Japan Earthquake, the insurance industry has weathered the disaster well. Celent forecasts that insurance IT investments will grow from USD 7.84 billion in the fiscal year ended March 2011 to reach USD 7.98 billion in the fiscal year ending March 2015. The March 11 earthquake will accelerate change in a number of areas, including prompting the industry to revisit business continuity planning (BCP) and reconsider the adoption of green IT. In terms of the latter, the disaster will spur companies that have been dragging their feet to study the introduction of technologies such as cloud computing and SaaS solutions.