See the Results of the European Insurance Technology Spending Strategies...

See the Results of the European Insurance Technology Spending Strategies Survey 2005/06

Dublin January 6, 2006 -- Research and Markets (http://www.researchandmarkets.com/reports/c30225) has announced the addition of European Insurance Technology Spending Strategies 2005/06: A Survey of 100 Decision-Makers to their offering

2005 has seen a turnaround in the Life sector, whilst Non-Life is starting to see signs of a softening market, with slowing premium growth and stabilizing combined ratios. In changing conditions keeping up-to-date with end-user opinion is crucial for vendors. This report presents the views of 100 IT decision-makers in the sector, identifying strategy drivers and key investment areas for 2006

This report is based on 100 interviews with European insurers. It provides coverage of all the main Western European markets aswell as coverage of the non-life, life and composite insurance sectors.

The amount of insurers increasing IT spend has grown overall, however budgets still remain predominately flat. The Life sector has the highest proportion increasing spend, due to improving market conditions, although insurers are still proceeding with caution with flat budgets dominating.

Life insurers are moving away from efficiency driven strategies taking a balanced approach as the market improves. Interestingly, effectiveness as the key driver has also decreased indicating some insurers may have over-estimated the extent of the recovering market last year and are now taking a more cautious approach.

Insurers are increasingly seeing BPM as well suited to the claims process particularly in the Non-Life sector and vendors in this space are positioned well to take advantage of the focus on re-engineering. Investment will be centered predominately on workflow, as insurers look to improve STP capabilities without end to end replacement.

For more information visit http://www.researchandmarkets.com/reports/c30225

Laura Wood

Senior Manager

Research and Markets

Fax: +353 1 4100 980

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