2009 US Insurance CIO Survey: Pressures, Priorities, and Practices

by Craig Weber,  Donald Light, January 29, 2009
Industry Trends
North America

Abstract

San Francisco, CA, USA January 29, 2009

2009 US Insurance CIO Survey: Pressures, Priorities, and Practices

Celent’s sixth annual survey of US insurance CIOs took place in October and November 2008, just as the global financial crisis reached the insurance industry. The findings reveal an industry far from panicked, and cautiously maintaining its course.

 In a new report, 2009 US Insurance CIO Survey: Pressures, Priorities, and Practices, Celent highlights business issues and IT priorities reported by property/casualty and life/health CIOs. Findings include allocation of resources for new initiatives, year-to-year changes in IT budgets, and the anticipated evolution of technology platforms over the next three years.

"Despite the drama and uncertainty present when the surveys were completed, the overall results show a group of CIOs who are maintaining a steady and thoughtful course," says Craig Weber, Senior Vice President of Celent’s Insurance Group and coauthor of the report.

"The 2009 survey is perhaps most remarkable for the things it does not show," adds senior analyst Donald Light, who cowrote the report. "There was no indication of dramatic reductions in IT spending, changes in priorities, disruptions of project pipelines, or dramatic shifts in platforms. The continuities with prior surveys are greater than the disruptions."

This 38-page report contains 27 figures and one table. A table of contents is available online.

Members of Celent's Life/Health Insurance and Property/Casualty Insurance research services can download the report electronically by clicking on the icon to the left.  Non-members should contact info@celent.com for more information.  

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

San Francisco, CA, USA January 29, 2009

2009 US Insurance CIO Survey: Pressures, Priorities, and Practices

 

Executive Summary 3
Introduction 4
Key Findings 6
Priorities and Projects 7
IT Budgets and Staff 14
Technology and Infrastructure Strategies 20
Web Services and SOA 29
Emerging Technology 32
Conclusions 35

 

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