Market Analysis
published on Mar 28, 2019
Report Overview:
NelsonHall’s “Impact of Digital in Retail Property & Casualty: 2019” 53-page report is based on global interviewing of senior executives across Retail Property & Casualty sector in four geographies: U.S., U.K., Continental Europe, and Asia Pacific.
The report identifies the principal business issues faced by Retail Property & Casualty firms over the period 2019-2020, 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 Property & Casualty firms and focuses on the nature of the digital initiatives planned by Retail Property & Casualty firms by application and technology, together with the key benefits required from digital by Retail Property & Casualty firms and their supplier selection criteria when purchasing digital services.
Who is this Report for:
NelsonHall’s “Impact of Digital in Retail Property & Casualty Sector: 2019” 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 insurance companies are looking to grow their customer base by attracting new clients and retaining and broadening relationships with existing clients through a focus on an expanded offering portfolio and accelerated delivery of services. However, this growth is tempered by concerns about managing fraud and other risks and inefficient legacy IT landscapes.
The need to expand their customer bases efficiently drove retail property and casualty insurers to identify, unprompted, the following key business priorities:
- Improve sales and marketing effectiveness and efficiency through use of analytics and improved cross and up-selling
- Reduce cost of administration through adoption of automation
- Improve customer service, through expanded use of self-service and improved fraud management.
Accordingly, retail property and casualty insurers are:
- Increasingly using digital to enhance pricing of premiums and new business acquisition
- Modernizing application landscapes through increased use of cloud, SaaS and DevOps
- Within their sourcing policies, prioritizing cloud native development & digital knowledge combined with increased use of SaaS.