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Research and Markets - US Insurance IT Spending Market CAGR Growth of 3.3% by 2020 - Trends, Technologies & Opportunities Report 2016-2020 - Key Vendors: CSC, Microsoft, GenpactDUBLIN, May 23, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Insurance IT Spending Market in the US 2016-2020" report to their offering. This comprehensive report forecasts the IT Spending by Insurance in the US to grow at a CAGR of 3.3% during the period 2016-2020. Commenting on the report, an analyst from the research team said: A current trend in the IT spending market is the intensification of cloud computing. The adoption of cloud computing solutions in the financial industry in the US has increased to implement flexible, scalable, and cost-effective IT solutions. Cloud-based solutions help insurance firms to decrease their total cost of ownership by reducing the upfront installation costs of IT systems. Firms subscribe to cloud-based solution to shift from on premise to SaaS-based deployment model. Insurance firms shift to cloud-based IT infrastructure model to increase flexibility in IT resource utilization and attain cost-effectiveness through pay per use pricing model. According to the report, a key growth driver is the popularity of usage-based insurance. Usage-based insurance (UBI), also known as pay as you drive, is an innovative insurance model deployed in the auto insurance industry. UBI policies require advanced communication systes, connected devices, and telematics solutions to monitor the behavior of vehicle drivers and accordingly calculate premium amounts. Software firms offer telematics, ICT, and IoT solutions for auto insurance firms to provide UBI policies. UBI policies integrated with analytics solutions help auto insurers to calculate premiums accurately by analyzing numerous factors such as vehicle speed, vehicle position, changes in acceleration, and mileage. Questions Answered:
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Report Structure: PART 01: Executive summary PART 02: Scope of the report PART 03: Market research methodology PART 04: Introduction PART 05: Market landscape PART 06: Market segmentation by technology PART 07: Market segmentation by industry sector 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 PART 14: Key vendor analysis PART 15: Appendix PART 16: About the Author For more information visit http://www.researchandmarkets.com/research/pqdzbr/insurance_it Media Contact: Research and Markets Laura Wood, Senior Manager For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716
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