Life/Health Insurance CIO Pressures and Practices 2015: North American Edition
What are life/health insurer CIOs planning for 2015? What business priorities are they reacting to, what initiatives will they be funding, and how are they investing in digital and innovation? This report provides the answers.
This report is based on a survey of CIOs and covers the following topics:
- Business goals’ influence on IT plans.
- The status of major IT initiatives.
- Replacement or maintenance plans for specific applications.
- IT budgets: IT budget as a percentage of DPW.
- IT budgets: Change in IT budget 2015 vs. 2014.
- IT budgets: R&D as a percentage of total IT budget.
- Digital strategy planned activity.
- Incremental vs. disruptive innovation.
“CIOs in all segments identify the business goal of growth and retention as the most important influence on their IT plans,” says Donald Light, research director with Celent’s Insurance practice and author of the report. “Process optimization is a strong influence in all segments. However, CIOs in different segments vary considerably in their evaluation of the other business goals. For example, reaching diversification of activities, products, and services is quite important to large insurers, but not to midsize and small ones. Cost reduction is close to top of mind for midsize and small insurers.”
This 24-page report has one table and 16 charts.