French insurers are focusing on business themes aimed at responding to current economic and financial challenges. Insurers are looking at adjusting their business models, restructuring parts of their internal organization, and applying tactical adjustments to their business operations.

In a new report, Insurance in France in 2012: The CIO Perspective, Celent examines business priorities, IT initiatives and spending, and other IT-related topics within the French insurance industry. This report is the third version of the French CIO Perspective series, whose goal is to evaluate how business concerns, IT budgets, investment focus, and other priorities have changed in the recent past.

“While innovation is not exclusively focused on information technology, Celent believes that IT involvement in a framework whose goal is to identify potential new ideas and implement them is crucial,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance group and author of the report. “Innovation should not focus solely on new or emerging technologies. When considering applying new technologies, insurers should use a framework that allows them to understand the real value and changes they might bring.”

This report discusses trends reflecting Celent’s experience of the market based on ongoing discussions with the industry and, specifically, deep interviews with 14 French CIOs at the end of 2011 and beginning of 2012. This report also provides broad IT investment plans and priorities for French insurers in 2012, details of budgets, generation of innovation programmes, and information about the Solvency II preparation.

A French version of the report is also available.