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(MoneyNewsWire.Net, July 19, 2016 ) About IT Spending by Insurance in the US
The insurance industry in the Americas is highly competitive and regulated in nature. The insurance market in the US is influenced by economic and political conditions of the country. GDP is one of the major factors that can influence the growth rate of the insurance industry. Currently, the economy of the US is stronger than rest of the world (ROW). The upcoming Presidential election in the US might impact the insurance business in the US. We forecast the formation of new government in the US will lead to changes in policies in the financial sector of the country.
Insurance firms in the US face intense competition, tight market regulations, and high customer expectations. These firms are under pressure with rising operational complexities, shrinking profit margin, regulatory changes for IT security, market consolidations, and fraudulent policy claims. Insurers also need to replace their traditional IT systems and obsolete technologies to remain competitive in the domestic as well as international market. Insurers seek multi-channel marketing strategies due to increased number of digital consumers using smart devices to explore insurance services
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Technavios analysts forecast the IT Spending by Insurance in the US to grow at a CAGR of 3.3% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the IT Spending by Insurance in the US for 2016-2020. To calculate the market size, we consider revenue generated from the following types of IT spending in insurance sector of the US.
Software spending
Hardware spending
IT services spending
Technavio's report, IT Spending by Insurance in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Table of Content
PART 01: Executive summary
Highlights
PART 02: Scope of the report
Market overview
Market definition
Top-vendor offerings
PART 03: Market research methodology
Research methodology
Economic indicators
PART 04: Introduction
Key market highlights
Insurance market overview in US
PART 05: Market landscape
Market overview
Five forces analysis
PART 06: Market segmentation by technology
IT spending by insurance in US by technology
IT services spending
Hardware spending
Software spending
PART 07: Market segmentation by industry sector
IT spending by insurance in US by industry sector
L&H insurance
P&C insurance
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