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| | Incumbent insurers in the US, the UK, and Canada will grow their IT and technology spend volume across insurance lines to power their digital transformations, in spite of the pandemic-induced blow to their revenues.
In The Insurance Technology Spend Forecast, Insider Intelligence highlights the short-term factors that inhibited incumbents' IT/tech spend from Q1 2019 to year end (YE) 2020 and the longer-term drivers of tech spend growth in the key insurance markets of the US, the UK, and Canada. Short-term inhibitors include declining premium growth and large-scale losses. Longer-term drivers include evolving and rising digital customer expectations, competition from new entrants, and the permanent shift to remote work. Insider Intelligence also explores factors unique to each to the three insurance markets in this forecast—for both P&C and life insurers—and highlights the key drivers of IT/tech spend from YE 2020 to 2024. | In full, this exclusive report: |
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| 1 | Outlines the global factors that will affect incumbent insurers' tech spending through the forecast period Q1 2019 to YE 2024 | | 2 | Divides the global factors into short-term inhibitors of tech spend growth amid pandemic disruption and longer-term drivers of tech investment | | 3 | Compares P&C and life insurers' tech spend growth trajectories of incumbents in the US, the UK, and Canada | | 4 | Examines tech spend growth drivers unique to each of the three key insurance markets in this forecast, for both P&C and life insurers |
Get all of these insights and more when you purchase the Insurance Technology Spend Forecast for $1,995. |
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