A recent report from Celent anticipates a 6.3-percent increase in global IT
spending for 2012 when compared to last year. IT spending grew a mere 1. 1
percent globally in 2011; North American insurers decreased IT spending
What is fueling the anticipated jump? Relative economic stability is one
factor, but more crucial is continued premium growth. In its report, “IT Spending
in Insurance: A Global Perspective,” Celent estimates IT spending to directly
reflect that increase in spending capital, leading to a recovery in IT spending in
North America. Despite stumbling in 2011 to $45.8 billion, North American
spending in 2012 is expected to rebound beyond its 2010 total of $48 billion to
reach $50.6 billion. Continuing the growth trend, Celent expects IT spend to
reach $56 billion in 2013 and $58.5 billion in 2014.
Partially because of a resilience last year in external spending and new IT
investments—new investments was the only segment of funding that saw an
increase in 2011—Celent anticipates these areas to experience acute growth.