The North American economy keeps showing signs of revival, and the “green shoots” that bravely sprouted through the rubble of the 2008-2009 financial collapse are now flowering trees and bushes. Accordingly, as recently noted in a Celent report, global information technology spending by insurance companies is growing as well, expected to grow up to six percent annually for the next two years, compared to an overall 1 percent decline last year. (Catherine Stagg-Macey, contributor here at INN, was co-author of the report.)
Celent says insurance companies will be spending a great deal of this new investment—close to half—on new technologies, versus standard maintenance of existing systems. There is a lot of pent-up demand within insurance companies, many of whom are still running legacy or home-grown systems and need to be able to progress into the digital economy.
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
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access