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Research and Markets: IT in the Insurance Industry - Emerging Trends
and Market Opportunities in Asia Pacific
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:29082008
Dublin - Research and Markets
(http://www.researchandmarkets.com/research/970a32/it_in_the_insuranc)
has announced the addition of the "IT in the Insurance Industry -
Emerging Trends and Market Opportunities in Asia Pacific" report to
their offering.
These are exciting times for the insurance industry in Asia Pacific. As
governments break up monopolies and liberalize regulations, the
industry is witnessing unprecedented growth driven by the economic boom
and increasing presence of multinational insurance companies in the
region. Deregulation in the sector has created new opportunities in a
region that is one of the most underserved in the world.
On the other hand, APAC s insurance industry is facing challenges on a
number of fronts. While countries such as India and China welcome
foreign market players, poor market conditions and politically unstable
environments have led to the withdrawal of several insurers from
countries such as Taiwan and Indonesia. Another key challenge facing
insurers is the development of products and distribution channels to
meet the requirements of increasingly sophisticated consumers in more
mature markets. As a result, new product areas such as
investment-linked insurance plans are growing, as is the development of
bancassurance (bank-sold insurance products) as an important
distribution channel. These factors have caused several companies to
review their dependence on agency sales forces and to look at
alternative methods of distribution.
Against the backdrop of these market challenges and opportunities, this
report analyzes IT adoption trends in Asia Pacific s insurance
industry. Market data comprises a key part of this report, which
includes market size and growth forecasts, as well as future IT
investment trends in the insurance sector. Through our survey of CIOs
and IT decision-makers in the industry in ANZ, China, India, Singapore,
Malaysia and Hong Kong, our report also provides insight into insurance
companies IT challenges, pain points and investments.
Key Topics Covered:
INTRODUCTION
EXECUTIVE SUMMARY
RESEARCH METHODOLOGY
Secondary Research
Supply-side Primary Research
Demand-side Primary Research
OVERVIEW OF THE ASIA PACIFIC INSURANCE MARKET
Insurance Industry in China Surges
Insurance Industry in India Follows Suit
Demand for Insurance Surges
Demand for Automobile Insurance
IT IN ASIA PACIFICS INSURANCE INDUSTRY
Growing Focus on the Web
Development of In-house Solutions
Investments in Telecom and Networking
Investments in SOA
IT Market Size in the Insurance Industry
Market Size by IT Country
Market Size by IT Segment
Hardware
Services
Software
FOCUS AREAS, BUSINESS CHALLENGES AND IT PAIN POINTS
Top Business Opportunities in Insurance
Reaching New Markets
New Product Development
Focus on Different Insurance Segments
Strategic Focus Areas of Insurance Companies
Focus on Sales Management
Focus on Underwriting and Policy Management
Focus on ERP
Strategic Focus by Insurance Segment
Top Business Challenges
Competition
Poor IT Systems
Reaching out to New Markets
Government Policies
Top IT Pain Points
Lack of Skilled Manpower
Integration of Business Systems
System Stability
IT SOLUTIONS & DEPLOYMENT TRENDS FOR INSURANCE COMPANIES
Largest IT Solutions Implemented
Focus on Industry-Specific Solutions
Focus on Ecommerce
Insurance Companies IT Spending Over the Last/Next 24 Months
Amount Spent on IT Solutions in past 24 months:
Share of All Expenditures Directed toward IT
Near Future Solutions & Solution Providers Named by Insurers
Investments in CRM
External Vendor Selection Factors
Strong Service and Support
Price
Knowledge of Industry
ASIA PACIFIC COMPETITIVE LANDSCAPE
MNC IT Vendors in Insurance
IBM
HP
Microsoft
Oracle
SAP
Local IT Vendors in Insurance
eBao
FirstApex
Mastek
WizVision.com
Vendor Share in IT Infrastructure of Insurance Companies
COUNTRY TRENDS
Australia
Insurance Companies
Business Challenges
Key IT Trends
China
Insurance Companies
Business Challenges
Key Drivers
Key IT Trends
India
Insurance Companies
Key Drivers
Business Challenges
Key IT Trends
Singapore
Insurance Companies
Business Challenges
Key Drivers
Key IT Trends
Hong Kong
Business Challenges
Insurance Companies
Key Drivers
Key IT Trends
Thailand
Insurance Companies
Key Drivers
Key IT Trends
OUR RECOMMENDATIONS
Focus on Industry-Specific Solutions
Focus on SOA Offerings
Clearly Define ROI Benefits
Work on Post-implementation Challenges and Pain Points
New Investments Will Drive an Increase In IT Spending
CONCLUSION
Companies Mentioned:
- eBao
- FirstApex
- HP
- IBM
- Mastek
- Microsoft
- Oracle
- SAP
- WizVision.com
For more information visit
http://www.researchandmarkets.com/research/970a32/it_in_the_insuranc
CONTACT: Laura Wood, Senior Manager, Research and Markets
Fax: +1 646 607 1907 (US)
Fax: +353 1 481 1716 (Rest of World)
e-mail: press@researchandmarkets.com
((M2 Communications Ltd disclaims all liability for information
provided within M2 PressWIRE. Data supplied by named party/parties.
Further information on M2 PressWIRE can be obtained at
http://www.presswire.net on the world wide web. Inquiries to
info@m2.com)).
Copyright ? 2008 M2 Communications Ltd.
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