While the effects of the March earthquake are still being felt, Celent says it is certain to set a record for earthquake insurance payouts—estimated at $12 billion—and that most firms have sufficient reserve funds on hand.
The earthquake has also spurred insurers to narrow in on IT spending. According to Celent’s new report, “IT Spending Trends in the Japanese Insurance Industry: 2011,” IT spending in Japan’s insurance industry has been trending sideways since before the disaster, making it difficult to conclude that there will be additional cutbacks.
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