Market Analysis
published on Nov 23, 2017
Report Overview:
NelsonHall’s “Impact of Digital on IT Services in the Retail Property and Casualty Sector: 2017” 43-page report is based on global interviewing of senior executives across retail P&C sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
The report identifies the principal business issues faced by retail P&C firms over the period 2017-2019, the IT and digital initiatives planned in response to these issues, and their anticipated changes in IT spend and sourcing.
In particular, the report analyzes the importance of digital to retail P&C firms and focuses on the nature of the digital initiatives planned by retail P&C firms, by application and technology; together with the key benefits required from digital by retail P&C firms and their supplier selection criteria when purchasing digital services.
Who is this Report for:
NelsonHall’s “Impact of Digital on IT Services in the Retail Property & Casualty Sector: 2017” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the Retail Property & Casualty sector
- Vendor marketing, sales and business managers developing strategies to target IT services (ITS) opportunities within the Retail Property & Casualty sector
- Financial analysts and investors specializing in the IT services and BPS sector.
Scope of this Report:
The report is based on interviews with executives in the Retail Property & Casualty sector in the U.S., U.K., Continental Europe, and Asia Pacific.
The report analyzes the worldwide market for IT services within the Retail Property & Casualty sector and addresses the following questions:
- What are the principal business priorities faced by organizations in the Retail Property & Casualty sector?
- What IT initiatives are planned by organizations in the Retail Property & Casualty sector?
- How relevant are digital initiatives to organizations in the Retail Property & Casualty sector?
- What digital initiatives are planned by organizations in the Retail Property & Casualty sector?
- What business areas are targeted for digital initiatives by organizations in the Retail Property & Casualty sector?
- What digital technologies are planned to be introduced by organizations in the Retail Property & Casualty sector?
- What are the key selection criteria used by organizations in the Retail
- Property & Casualty sector to select suppliers to implement digital initiatives?
- What shifts in sourcing approach are expected by executives in the Retail Property & Casualty sector over the next three years?
- How do companies in the Retail Property & Casualty sector expect their spend on ITS services to change over the next three years?
Key Findings & Highlights:
Retail property and casualty insurers are facing strong competition from both traditional and emerging competitors, which is leading to high rates of customer churn. This is putting them under pressure to remain competitive by improving their service quality while becoming more efficient in both customer acquisition and customer service.
Digital is a significant mechanism in addressing these issues, and more than 80% of retail property and casualty companies see digital as highly relevant to their industry. In particular, retail P&C companies are:
- Looking for new ways of doing business in response to increasing competition and customer demands
- Focusing their digital initiatives on improving the customer experience and reducing customer service costs
- Modernizing their application landscapes and automating IT operations to free up their transformation budgets
- Increasingly using niche specialists in support of digital initiatives.