Insurance in France 2014: Business and IT Priorities

by Nicolas Michellod, March 31, 2014
Industry Trends

Abstract

In a difficult market, French insurers have different views on projects they want to prioritize for the next three to five years.

In the report Insurance in France 2014: Business and IT Priorities, examines business priorities, IT initiatives and spending, and other IT-related topics in the French insurance industry. The report particularly looks at French insurers’ initiatives in four domains including digital transformation, system transformation, outsourcing, and innovation.

“Digital transformation is a major project driver nowadays. Many French insurers will continue prioritizing this topic since only a low number of insurers have achieved a high level of digitization,” says Nicolas Michellod, Senior Analyst with Celent’s Insurance Group and author of the report. “Data-related technologies will gain importance among French insurance companies in the near future.”

This report looks at IT investment plans and priorities for French insurers in 2014. Selected topics such as the recent evolution of the French insurance market, business focus, IT projects, budgets, and spending estimates are described in the context of digital and system transformation, outsourcing, and innovation as well as analytics.

Version française.

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 subsidiary 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

Executive Summary

1

Introduction

2

The State of the French Insurance Market

4

Business Themes for 2014

7

IT Budgets and Initiatives

9

Digital Transformation

12

System Transformation

17

IT and Business Outsourcing

21

Innovation

25

Reality-Checking Our Predictions

27

Leveraging Celent’s Expertise

29

 

Support for Financial Institutions

29

 

Support for Vendors

29

Related Celent Research

30

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