Insurance IT Spending Market in the US 2016-2020


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Technavio

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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

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.

Key vendors
Accenture
CSC
Fiserv
Guidewire Software
Oracle

Other prominent vendors
Andesa
Cognizant
EXL Service
FIS
Genpact
Majesco
Microsoft
Pegasystems
SAP
StoneRiver

Market driver
Popularity of usage-based insurance
For a full, detailed list, view our report

Market challenge
Need for unceasing innovation
For a full, detailed list, view our report

Market trend
Intensification of cloud computing
For a full, detailed list, view our report

Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?

You can request one free hour of our analysts time when you purchase this market report. Details are provided within the report.
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
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
Competitive landscape
Other prominent vendors
PART 14: Key vendor analysis
Accenture
CSC
Fiserv
Guidewire Software
Oracle
PART 15: Appendix
List of abbreviation
PART 16: Explore Technavio
List of Exhibits
Exhibit 01: Product offerings
Exhibit 02: IT spending by insurance in US market
Exhibit 03: Global IT spending by insurance in US 2015-2020 ($ billions)
Exhibit 04: Five forces analysis
Exhibit 05: IT services spending by insurance in US 2015-2020 ($ billions)
Exhibit 06: Hardware spending by insurance in US 2015-2020 ($ billions)
Exhibit 07: Software spending by insurance in US 2015-2020 ($ billions)
Exhibit 08: IT spending by insurance in US by industry sector 2015
Exhibit 09: Impact of drivers
Exhibit 10: Impact of drivers and challenges
Exhibit 11: Advanced analytics model
Exhibit 12: Insurance tech start-up funding 2016
Exhibit 13: Competitive factors among vendors
Exhibit 14: Other prominent vendors
Exhibit 15: Accenture: Insurance service offerings
Exhibit 16: Accenture: Insurance business services
Exhibit 17: Accenture: Insurance BPO services
Exhibit 18: CSC: Insurance solutions
Exhibit 19: CSC: Insurance software products and services
Exhibit 20: Fiserv: Insurance solution and service offerings
Exhibit 21: Guidewire: Product offerings
Exhibit 22: Oracle: Insurance products
Exhibit 23: Oracle: Insurance key offerings
Exhibit 24: Oracle: Insurance solution offerings