Insurance IT Spending Market in India 2015-2019

Published: November 2015
No. of Pages: 76
   

The insurance sector in India is expected to experience significant growth during the forecast period. However, it is moderately dependent on the recovery from recent recessions and economic crises. In addition, increased competition has pressurized insurers, challenging their investment strategy, existing business models and processes, product mixture, and operating structures. Existing business models have led to very low investment income and product margins. In order to reap greater investment benefits, investors are required to simplify their operations at a reduced cost.

The increase in digitalization is expected to grow the insurance market during the forecast period. It will also help insurance companies to reach customers in an efficient manner. The growing deployment of diverse banking solutions will lead to increased demand for IT services, such as IT consulting and system integration. As IT adoption increases, it also raises challenges such as the lack of IT literacy of insurance company employees, which, in turn, has driven the IT training services market in recent years.

The analysts forecast insurance IT spending market in India to grow at a CAGR of 7.65% over the period 2014-2019.

Covered in this report

This report covers the current scenario and growth prospects of the insurance IT spending market in India for the period 2015-2019. To calculate the overall market size, the report considers the revenue generated through IT products such as hardware, software, and services by insurance firms in India.

The report also presents the vendor landscape and a corresponding detailed analysis of the key leading vendors. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key emerging trends.

Key vendors

  • HP
  • IBM
  • Infosys
  • TCS
  • Wipro

Other prominent vendors

  • 3i Infotech
  • Accenture
  • Acer
  • Aegis
  • Atom Technologies
  • Capgemini India
  • Cisco Systems
  • CMS Infosystems
  • CSC
  • Dell
  • Diebold
  • Firstsource Solutions
  • Genpact India
  • HCL Technologies
  • Hitachi
  • iGATE Global Solutions
  • JP Morgan
  • L&T Infotech
  • Microsoft
  • MindTree
  • Mphasis
  • Netapp
  • Newgen
  • Nucleus Software
  • Oracle
  • Polaris
  • Ramco Systems
  • SAP
  • Serco Global Services
  • Syntel
  • Tally
  • Tech Mahindra
  • WNS Global Services
  • Wolters Kluwer

Key market driver

  • Increased need to manage IT risks and service solutions
  • For a full, detailed list, view our report

Key market challenge

  • Requirement of high investment
  • For a full, detailed list, view our report

Key market trend

  • Social media as a marketing and collaboration medium
  • For a full, detailed list, view our report

Key questions answered in this report

  • What will the market size be in 2019 and what will the growth rate be
  • What are the key market trends
  • What is driving this market
  • What are the challenges to market growth
  • Who are the key vendors in this market space
  • What are the market opportunities and threats faced by the key vendors
  • What are the strengths and weaknesses of the key vendors

Insurance IT Spending Market in India 2015-2019

Table of Contents

PART 01: Executive summary
Highlights

PART 02: Scope of the report
Market overview
Top-vendor offerings

PART 03: Market research methodology
Research methodology
Economic indicators

PART 04: Introduction
Key market highlights

PART 05: Market landscape
Market overview
Market size and forecast
IT risks in business operations
Risk Expenditures involved in insurance sector
Five forces analysis

PART 06: Market segmentation by product
Insurance hardware market in India
Insurance software market in India
Insurance services market in India

PART 07: Adoption of third platform technologies
Cloud Computing
Big data and analytics
Social media
Mobility

PART 08: Market drivers

PART 09: Impact of drivers

PART 10: Market challenges

PART 11: Impact of drivers and challenges

PART 12: Market trends

PART 13: Vendor landscape
Competitive scenario
Major key vendors
Other prominent vendors

PART 14: Key vendor analysis
HP
IBM
Infosys
TCS
Wipro

PART 15: Appendix
List of abbreviations

List of Exhibits

Exhibit 01: Product and services offerings
Exhibit 02: Insurance IT spending market in India
Exhibit 03: Insurance IT spending market in India 2014-2019 ($ billions)
Exhibit 04: IT Risks in Business operations
Exhibit 05: Risk expenditures involved in insurance sector
Exhibit 06: Five forces analysis
Exhibit 07: Insurance IT spending market in India by product 2014
Exhibit 08: Insurance hardware market in India 2014-2019 ($ billions)
Exhibit 09: Insurance software market in India 2014-2019 ($ billions)
Exhibit 10: Insurance services market in India 2014-2019 ($ billions)
Exhibit 11: Technologies used in Indian Insurance Industry
Exhibit 12: Overview of cloud computing
Exhibit 13: Scope of analytics in insurance
Exhibit 14: Focus area of social media in insurance industry
Exhibit 15: Drivers for mobility in insurance market in India
Exhibit 16: Impact of drivers
Exhibit 17: Impact of drivers and challenges
Exhibit 18: Infosys: Business segmentation by revenue 2014
Exhibit 19: Infosys: Business segmentation by revenue 2013 and 2014 ($ millions)
Exhibit 20: Infosys: Geographical segmentation by revenue 2014
Exhibit 21: TCS: Business segmentation by revenue 2015
Exhibit 22: TCS: Business segmentation by revenue 2014 and 2015
Exhibit 23: TCS: Geographical segmentation by revenue 2015
Exhibit 24: Wipro: Business segmentation by revenue 2015
Exhibit 25: Wipro: Business segmentation by revenue 2014 and 2015
Exhibit 26: Wipro: Geographical segmentation by revenue 2015

Published By: Infiniti Research Limited
Product Code: Infiniti Research Limited9735


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