Insurance technology industry spending in Middle East to 2013

Insurance technology industry spending in Middle East to 2013

Introduction

This databook provides comprehensive and up-to-date information on technology spending within the insurance industry in Middle East.

Scope

*Provides a breakdown of technology spending in Middle East insurance industry by function

*Assesses the revenue opportunities within the front office, middle office and back office

*The report also provides a breakdown of two business lines, 13 business functions and three business locations within the insurance industry

Highlights

Policy administration led the insurance technology spending in Middle East, accounting for 24.6%, with a spend of $245.8m in 2007. Claims processing followed, with a spend of $185.8m, accounting for 18.6% of the total insurance technology spend in 2007.

Technology spending within the life insurance business line in Middle East was valued at $188.5m in 2007, growing at a CAGR of 17.4% between 2005 and 2007. Policy administration led the life insurance technology spending in Middle East, accounting for 30.6%, with a spend of $57.7m in 2007.

Reasons to Purchase

*Develop business strategies from spending pattern analysis within the insurance industry in Middle East

*Design effective marketing and sales strategies by identifying key and fast growth segments within the insurance industry

*Make informed business decisions through an understanding of the overall spending trends within the insurance industry in Middle East

TABLE OF CONTENTS
OVERVIEW 1
Catalyst 1
Summary 1
INTRODUCTION 5
Reasons to purchase 5
INSURANCE TECHNOLOGY SPENDING 8
Spend by business functions 8
Technology spend by location 12
LIFE INSURANCE TECHNOLOGY SPENDING 16
Spend by business function 16
Spending by location 20
NON-LIFE INSURANCE TECHNOLOGY SPENDING 24
Spending by business function 24
Spending by location 28
APPENDIX 32
Further reading 32
How to contact experts in your industry 32
Disclaimer 32

LIST OF FIGURES
Figure 1: Insurance industry, Middle East, technology spend by function ($m), 2007 8
Figure 2: Insurance industry, Middle East, technology spend by function ($m), 2008–13 10
Figure 3: Insurance industry, Middle East, technology spend by location ($m), 2007 12
Figure 4: Insurance industry, Middle East, technology spend by location ($m), 2008–13 14
Figure 5: Life insurance, Middle East, technology spend by function ($m), 2007 16
Figure 6: Life insurance, Middle East, technology spending by function ($m), 2008–13 18
Figure 7: Life insurance, Middle East, technology spending by location ($m), 2007 20
Figure 8: Life insurance, Middle East, technology spending by location ($m), 2008–13 22
Figure 9: Non-life insurance, Middle East, technology spending by function ($m), 2007 24
Figure 10: Non-life insurance, Middle East, technology spending by function ($m), 2008–13 26
Figure 11: Non-life insurance, Middle East, technology spending by location ($m), 2007 28
Figure 12: Non-life insurance, Middle East, technology spending by location ($m), 2008–13 30

LIST OF TABLES
Table 1: Insurance business functions definitions 6
Table 2: Insurance lines of business definitions 7
Table 3: Insurance location definitions 7
Table 4: Insurance industry, Middle East, technology spend by function ($m), 2005–07 9
Table 5: Insurance industry, Middle East, technology spending by function ($m), 2008–13 11
Table 6: Insurance industry, Middle East, technology spending by location ($m), 2005–07 13
Table 7: Insurance industry, Middle East, technology spending by location ($m), 2008–13 15
Table 8: Life insurance, Middle East, technology spending by function ($m), 2005–07 17
Table 9: Life insurance, Middle East, technology spending by function ($m), 2008–13 19
Table 10: Life insurance, Middle East, technology spending by location ($m), 2005–07 21
Table 11: Life insurance, Middle East, technology spending by location ($m), 2008–13 23
Table 12: Non-life insurance, Middle East, technology spending by function ($m), 2005–07 25
Table 13: Non-life insurance, Middle East, technology spending by function ($m), 2008–13 27
Table 14: Non-life insurance, Middle East, technology spending by location ($m), 2005–07 29
Table 15: Non-life insurance, Middle East, technology spending by location ($m), 2008–13 31