A recent report from Celent anticipates a 6.3-percent increase in global IT spending for 2012 when compared to last year. IT spending grew a mere 1.1 percent globally in 2011; North American insurers decreased IT spending slightly.

What is fueling the anticipated jump? Relative economic stability is one factor, but more crucial is continued premium growth. In its report, "IT Spending in Insurance: A Global Perspective," Celent estimates IT spending to directly reflect that increase in spending capital, leading to a recovery in IT spending in North America. Despite stumbling in 2011 to $45.8 billion, North American spending in 2012 is expected to rebound beyond its 2010 total of $48 billion to reach $50.6 billion. Continuing the growth trend, Celent expects IT spend to reach $56 billion in 2013 and $58.5 billion in 2014.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access