Insurance IT Outsourcing Update

Report Summary

Insurance IT Outsourcing Update

January 2014 - Outsourcing typically consumes around 20% of insurers’ IT budgets, and represents between 20-40% of their IT headcount.

It is an important part of insurer CIOs’ toolkits, and usage is widespread. But while many of those that currently outsource at a moderate level are planning to expand their use of outsourcing, some heavy users are planning to cut back.

Insurers need to find the optimal level for themselves, balancing cost and capacity benefits against service levels, quality, and their own abilities to manage external providers.

This report is based on a recent survey of 95 insurer CIO members of the Novarica Insurance Technology Research Council, and looks at current and planned outsourcing rates, as well as onshore and offshore customer satisfaction levels, in application development and maintenance, specialized skills, and infrastructure.

Figures and Tables…2
Related Research…2
Key Findings…4
Application Development
and Maintenance…5
Specialized Skills…6
Customer Satisfaction…8
Concluding Thoughts…9
About Novarica…9

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