Analysis of Themes Driving Core Research

Analysis of Themes Driving Core Research for Our Insurance Technology Research Stream...

DUBLIN, Ireland--(Business Wire)--Research and Markets has announced theaddition of "2007 Trends to Watch: Insurance Technology" to theiroffering. Analysis of themes driving core research for our insurancetechnology research stream in 2007 Scope of this title: Focuses on the North American, European and Asia Pacific insurancetechnology markets Focuses on the Life and Non-life insurance segments Explores how business trends and institution strategies acrossthis industry are driving IT priorities, decision making andtechnology investment Highlights of this title: Industry concentration will continue, particularly in the Europeanlife and US non-life segments, gradually resulting in a lessfragmented industry. Larger insurers tend to be both bettercapitalized and in need of integration, and these firms willincreasingly make architecture integration the cornerstone of theirtechnology investment. Insurers are beginning to realize that a movetoward an enterprise view of data is essential for enablingcross-segment (E.g. policy administration, product development,customer service) efficiency. Investment in enterprise datainitiatives is expected to rise in 2007, following, and mirroring, theinvestment in application integration the insurance industry hasundertaken in earnest in the past several years. Reasons to order your copy: This brief is essential reading for you to identify and track thekey forces shaping the prospects for your business. Our lead analystwill outline the trends in your market, explain how this has shapedour research agenda for 2007 OUR VIEW CATALYST SUMMARY 2007 TRENDS TO WATCH: INSURANCE TECHNOLOGY The top business issues facing the insurance industry Maintaining performance amidst growing competition Leveraging in-house information to build more effectiveenterprise-wide business capabilities The information-intensive global Insurance industry continues tostruggle with how to store, measure and use the data at the core ofall insurance operations. Especially for the largest carriers, who mayoperate in dozens of business lines and offer hundreds of products,integrating policyholder information, risk profiles, and catastropheand actuarial models can result in faster time to market, developmentof higher-demand products, more accurate underwriting and rating andtimelier regulatory reporting. The presence of "architecture islands"containing vast but isolated data stores is considered a seriousimpediment to achieving these goals. Meeting onerous regulatory requirements in the global insuranceindustry Theme 1: Sales and Service Issues in Insurance Theme 2: Data Integration and Business Intelligence in Insurance Theme 3: Regulation/operational risk management for insurers This theme examines the methods by which insurers areconsolidating risk management and regulatory reporting practices. Mostinsurers financial services firms continue to take an ad hoc approachwithin individual business units to managing risk and complianceactivities. Under this method, information is captured but remains insilos, hindering timely access to data essential to make criticaloperational decisions. This may prevent detection of potential riskevents early enough to prevent them. Silo structures also inhibit thesharing of knowledge related to best practices and create redundantand incompatible data, which complicates technology decisions. OUR TAKE A look ahead at 2007