2011 US Insurance CIO Survey: Pressures, Priorities, and Practices
Celent reports the findings of its annual survey of US insurance CIOs. This year’s survey confirms that CIOs believe there is a “New Normal” environment for their companies, but nevertheless have a focus on growth.
In a new report, 2011 US Insurance CIO Survey: Pressures, Priorities, and Practices, Celent highlights business issues and IT priorities reported by property/casualty and life/health CIOs. Findings include allocation of resources for new initiatives, year-to-year changes in IT budgets, and the anticipated evolution of technology platforms over the next three years.
“There is a modest increase in year-over-year total IT spending growth, showing a positive trend from a year earlier,” says Craig Weber, Senior Vice President of Celent's Insurance group and coauthor of the report. “CIOs are continuing to focus on execution and balancing priorities,” he added.
“Multiyear core system initiatives are the biggest big ticket items, although analytics projects also showed strength.” adds Donald Light, Senior Analyst with Celent's Insurance Group and coauthor of the report.