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  5. COVID-19: Impact on North America P&C Insurers' IT Priorities, Budgets, and Plans

COVID-19: Impact on North America P&C Insurers' IT Priorities, Budgets, and Plans

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21 April 2020
Donald Light

Abstract

As part of Celent’s continuing coverage of the impact of the COVID-19 pandemic, Celent sent a short survey to a number of North American CIOs on April 16, 2020. Responses were received over the next few days. Readers of this report should keep this timing in mind, since the COVID-19 crisis and insurers’ responses are evolving very rapidly.

The survey asked CIOs five questions related to their plans for the remainder of 2020:

  1. Has the COVID-19 crisis changed the importance of key business goals on your IT plans for 2020?
  2. Has the COVID-19 crisis caused a review of your 2020 IT budgets?
  3. What changes are likely to happen to your 2020 IT budget during the rest of this year?
  4. What impact will the COVID-19 crisis have on your plans for major application portfolio projects during the rest of 2020?
  5. What impact will the COVID-19 crisis have on your plans for smaller application portfolio projects during the rest of 2020?

This report contains the results of that survey. It also contains additional comments by CIOs regarding the five survey questions and their general observations about COVID-19’s impact on IT priorities. This report is a working version of findings and implications (subject to change in the light of post-publication developments).

Here are the results of one of these questions: Whether CIOs’ original 2020 budget has been reviewed since the COVID-19 crisis began:

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