IT Priorities in Latin America for P&C Insurance
2022 P&C Edition
Every year we survey insurance CIOs across different regions including Asia-Pacific, Europe, the Middle East, and Africa, Latin America and North America. We ran our Latin American (LATAM) survey in late 2021 and early 2022. Twenty-three LATAM P&C insurance C-level executives with IT responsibility in 47 insurance operations have contributed to our survey. Although the survey was reasonably short, it covered a broad range of topics, including: business priorities, IT budgets, investment priorities, cloud adoption, and insurtech adoption.
The past two years have been full of uncertainties for P&C insurers. While the industry was optimistic entering 2020 with ambitious technology investments, the COVID19 pandemic delayed many projects especially the big ecosystem modernization and transformation projects. 2022 seems to be starting with more clarity for insurers’ CIOs. The pandemic seems to have a lower impact on their activities and our survey results tend to show that CIOs are again more ambitious.
Dive into this report to uncover in this 9th edition of our IT Priorities survey, 1) What are the drivers of IT investment, for Latin American P&C insurers?, 2) What is the planned level of activity, by Latin American P&C insurers, regarding IT? and 3) What is the expected IT investment by Latin American P&C insurers?