Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Corporate
Gartner Says Outlook for Indian Insurers Spending on IT Reach 121 Billion Rupees In 2014
TT Correspondent |  |  19 Feb 2014

Indian insurance companies will spend 121 billion rupees on IT products and services in 2014, a 12 percent increase over 2013, according to Gartner, Inc. This forecast includes spending by insurers on internal IT (including personnel), hardware, software, external IT services and telecommunications.

The 12 billion rupee software segment is forecast to be the fastest external segment, growing at 18 percent in 2014 overall, lifted by accelerated growth of insurance-specific software. IT services, the biggest spending segment for the insurance industry at 40 billion rupees in 2014, will continue to realize robust growth of 16 percent. Category leaders are business process outsourcing (BPO) at 25 percent and consulting – much of which relates to these insurance-specific application investments – at 21 percent.
 
“Insurers in India are getting serious about their core insurance processes, especially where they help increase insurer penetration of the market,” said Derry Finkeldey, principal analyst at Gartner. “While internal spending is also increasing, Indian insurers have been quick to turn to the competitive technology provider sector in India for guidance and delivery.”
 
Further information on insurance sector IT spending is available in the Gartner report, ‘Forecast: Enterprise IT Spending by Vertical Industry Market, Worldwide, 2011-2017, 4Q13 Update’, available at http://www.gartner.com/doc/2659424. This vertical industries forecast provides total enterprise IT spending, including internal spending and multiple lines of detail for spending on hardware, software, IT services, and telecommunications for vertical industries and 43 countries within seven geographies.

    
 mail this article    print this article    Show and Post comment
19 Feb 2014(IST)  
Whitepaper
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Cisco Small Cell Solution: Reduce Costs, Improve Coverage
It is designed to address the challenge of mobile service coverage and to expand network capacity...read more