Insurance in Asia-Pacific 2015: The CIO Perspective
Digital transformation, business process automation, and mobile-related innovation are the hot topics among APAC insurance CIOs.
In the report Insurance in Asia-Pacific 2015: The CIO Perspective, Celent reviews business priorities, IT initiatives and spending, and other IT topics in the Asia-Pacific insurance industry. Trends discussed in this report reflect Celent’s experience of the market based on a survey of CIOs taken from the end of 2014 to early 2015 in addition to ongoing discussions with the industry. Survey questions covered business and IT priorities for 2015 as well as details around budgets, IT projects, digitization, system transformations, and innovation.
“The level of portals and mobile activities remains high, with more than 80% of these insurers undertaking these activities,” says KyongSun Kong, an analyst with Celent's Asian Financial Services group and author of the report. “More than half of insurers, however, take a conservative approach when it comes to innovation. With the fast-moving market changes, the number of insurers taking a disruptive approach is expected to increase gradually going forward.”
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
Business Goals’ Influence on IT Plans
Major Initiative Status
Plans to Replace or Maintain Specific Applications
2015 IT Budgets
Digital Initiatives’ Projected Level of Activity
Innovation: Disruptive Vs. Incremental
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
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