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Insurance in Asia-Pacific: 2019 Business and IT Priorities

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21 July 2019
Nicolas Michellod

Celent examines Asia-Pacific insurers' business priorities, IT budget and spending, and initiatives being launched in relation to legacy and ecosystem transformation, digitization, and innovation.

Key research questions

  • What business objectives are most influencing Asia-Pacific insurers' IT plans?
  • Which digital initiatives are seeing the most activity among Asia-Pacific insurers?
  • What are Asia-Pacific insurers doing to innovate?

Abstract

What are Asia-Pacific insurers’ priorities? How do they spend their IT budget? What are their plans in terms of legacy system modernization, digital transformation, operational excellence, data, analytics, artificial intelligence, and innovation?

Every year Celent asks Asia-Pacific insurers about the business goals influencing their IT plans.

Last year, Celent found that Asia-Pacific insurers have been focused on regulation or growth, retention, and improving the way they conduct their business, mainly through process optimization.

This year growth and retention makes the top of insurers’ agenda. Seeing Asia-Pacific insurers planning their IT investments to support growth and retention is not a surprise, because we have already seen the same trend in Europe, following a focus on innovation last year.

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