IT Spending Trends in the Japanese Insurance Industry: 2010

by Neil Katkov, PhD,  KyongSun Kong, May 14, 2010
Industry Trends


The scale of Japan's insurance market is shrinking due to demographic and economic factors. Despite the outlook for the market overall, Celent projects that IT investment by the Japanese insurance industry will continue to demonstrate moderate growth in the medium term.

A new report by Celent, IT Investment Trends in the Japanese Insurance Industry: 2010, offers an analysis of IT investment trends in one of the largest insurance markets in the world. In the fiscal year ending March 2013, Celent forecasts that IT investments in the Japanese insurance industry will reach US$8.8 billion, growing at a compound annual growth rate (CAGR) of 1.9% from the fiscal year ending March 2009.

“Japan’s insurance industry is facing a challenging situation with dramatic demographic changes and a sluggish economy with which to contend. However, insurance companies will be obligated to press ahead with strategic IT investments to maintain growth into the future,” concludes KyongSun Kong, an analyst in Celent’s Asian Financial Services group and coauthor of this report.

This report offers an incisive analysis of market trends and IT trends within the insurance industry in Japan as well as strategic suggestions for insurance companies and vendors looking to formulate a profitable strategy for the future.

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].

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Table of Contents

Executive Summary


Definition of IT Spending




Market Overview


New Market Trends


Changing Approaches to IT


IT Investment Trends in Japan’s Insurance Industry




Leveraging Celent’s Expertise


Related Celent Research


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