IT spending trends in the insurance industry

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      <subfield code="a">Insurance providers are at a crossroads. Many have complex legacy systems, requiring legions of IT personnel to keep them responsive. At the same time, they face new threats from upstarts that are able to rethink insurance services. This report analyzes the IT characteristics of the insurance industry. Based on our latest benchmarking survey, it provides key metrics for insurance sector IT organizations, including planned levels of IT spending growth, planned levels of IT staffing, current adoption of cloud systems, extent of custom systems, IT investment priorities, and the impact of the coronavirus pandemic. We conclude with the outlook for increased IT spending and staffing in the insurance sector in the coming years.</subfield>
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