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  5. Property/Casualty Insurance CIO Pressures and Priorities 2016: North America Edition

Property/Casualty Insurance CIO Pressures and Priorities 2016: North America Edition

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22 January 2016
Donald Light

Abstract

At the end of every year, Celent surveys insurance company CIOs, asking the pressures they are facing and the priorities they have set for the coming year. The report covers eight topics including IT budgets, plans for initiatives, specific applications, and digital.

The report covers responses of CIOs of large, midsize, and small insurers on eight topics:

  1. Business goals’ influence on IT plans.
  2. The status of major IT initiatives.
  3. Replacement or maintenance plans for specific applications.
  4. IT budgets: IT budget as a percentage of DPW.
  5. IT budgets: Change in IT budget 2016 vs. 2015.
  6. IT budgets: R&D as a percentage of total IT budget.
  7. Digital strategy planned activity.
  8. Incremental vs. disruptive innovation.

“As CIOs look forward to 2016, business leaders are saying they want process optimization, and growth and retention to inform IT priorities,” says Donald Light, director of Celent’s North America Property/Casualty practice and coauthor of the report. “Core system modernization is a top IT initiative. Resources in most cases are adequate. However, some CIOs will be challenged by flat or reduced levels of resources.”

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