Introduction This report provides key understanding of vendor dynamics in the insurance technology market and presents the market share of the top ten vendors in the overall market, the aggregate services segment and the application software segment. To provide a greater understanding of what this means for each vendor, the report also covers spending strategies, drivers and specific investment focus areas.
Scope The report draws on insurance studies in Europe and North America interviewing over 200 IT decision makers about current and planned investments Competitive vendor positioning for overall insurance technology market Top ten vendor market share data for overall insurance technology market, services market and application software market Highlights The insurance technology market has ground to a virtual standstill in terms of growth over the last years. Since the low the sector has picked up pace however and by 2006 we expect the sector be the fastest growing technology opportunity in the financial services market.
Short term growth will be driven by further compound ratio based projects and regulatory compliance in the P&C sector such as claims and infrastructure transformation and outsourcing of key functions and processes.
The chief longer term opportunity however is on the L&P side driven by policy administration transformation and to some extent outsourcing of the same process. The L&P sector also look to vendors for infrastructure transformation support.
Reasons to Purchase Understand the markets view of your own and your competitors positioning to better exploit market opportunities Identify your companys relative market shares in key insurance technology segments to position for growth areas
