Insurers’ tech spending USD 185 billion in 2017
Tuesday, 04 25 2017, Category: Technology, Country: World
The global insurance industry’s tech spending is expected to reach US$185 billion in 2017, a 2% year-on-year drop, according to a study by research and consulting firm Celent.
In its “IT Spending in Insurance 2017” report, which surveyed over 50 insurance carriers worldwide, Celent revealed that North American insurers are the prime drivers of the drop in tech spend, with expected expenditures of US$73 billion, a decrease of 6%. This is in contrast with Europe and Asia, where spending on technology is steadily rising.
Source: Insurance Business