Insert Cover Image using Slide Master View                               Do not distortIT landscape of Insurance Players -...
Executive Summary               The ICT adoption in insurance market was valued at INR xyz bn in 2011 and is anticipated t...
•Insurance Industry – Overview•IT Landscape – Indian Insurers  General Insurer  Life Insurer  Health Insurer          IT L...
Indian Insurers - History                                                   xxx Insurers - India  Numbers   25            ...
Rise in working class population and growing disposable income is driving the insurance sector in India Insurance Industry...
Insurance Industry Hierarchy – India                                                                                      ...
General Insurer- xxx Corporate Information                                                  Business Highlights           ...
Technology Implementation (x/x)                                                      ICT Vendor – abc                    R...
Sales Intelligence (1/x) Mr. x                                                                               Mr. x CFO    ...
Thank you for the attentionThe IT landscape of Insurance Players – India report is a part of Research on India’sInformatio...
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Market Research Report : IT Landscape of Insurance Players in India 2012

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For the complete report, get in touch with us at : info@netscribes.com

With the ongoing growth in customer base and daily transactions, insurers in India are gradually shifting their focus towards the adoption of IT oriented tools, services and platforms. Netscribes (India) Pvt. Ltd., a knowledge consulting solutions company, announces the launch of its report IT landscape of Insurance Players in India 2012.

Till now, the ICT adoption in insurance industry has occurred in a phased manner, wherein it has exhibited a steady but impressive growth rate over the years. ‘Judging by the current scenario in the market, ICT spending by insurers in India stood at INR 76.17 bn in 2011 and is expected to grow at a CAGR of around 14% in next few years,” says Mr. Kalyan Banga, Product Manager at Netscribes. Maturing along with technology standards, the current ICT landscape within the insurance industry can be associated with rising demand and cut throat competition amongst the ICT vendors. Types and attributes of the solutions that experiences the most demand within the insurance sector have also changed over the years. “Primarily, technologies focused to provide better customer services are preferred the most. Analysis of colossal amounts of data and information and generating insights from these data are also experiencing exponential surge in demand. Advancement in the field of mobile technology and the immense popularity of social networking sites has also grabbed the attention of industry significantly,” noted Kalyan.

The report begins with a snapshot of the insurance industry which briefs about the facts and figures of insurers operating in India. It lists down the number of insurers operating in the sector along with the segmentation of public and private insurers. Hierarchy of the Indian insurance industry is well illustrated for which gives a brief highlight about the operational model of the industry. It also enlists the primary drivers and challenges for the overall insurance industry. “Primary reasons to propel the market forward comprises of young consumer segment, wide range of products, technological advancement and growing middle class, whereas the basic challenges faced by the sector are the tight premium rates and dependence on overseas re-insurers,” says Kalyan.

Moving along the report features a section on IT landscape of Indian insurers. The section talks about the IT infrastructure of all insurance companies viz. General Insurers, Life Insurers and Health Insurers operating in India. Technology implementation portion in this segment lists down all existing IT infrastructure in great detail. It primarily elaborates on the type of requirements, solutions adopted and the benefits realized thereafter. The section also features a sales intelligence section which enlists the relevant key point of contact of the respective organizations.

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Market Research Report : IT Landscape of Insurance Players in India 2012

  1. 1. Insert Cover Image using Slide Master View Do not distortIT landscape of Insurance Players - IndiaFebruary 2012
  2. 2. Executive Summary The ICT adoption in insurance market was valued at INR xyz bn in 2011 and is anticipated to grow at a CAGR of xxx% to reach INR 230.85 bn by 20-- Out of the overall ICT expenditure in 2011, insurers spent about INR aa bn and INR cc bn on Market IT and telecommunications respectively Hardware, Software and Services comprise of 45.4%, 19.2% and 33.7% respectively of the overall IT expenses of insurers Some of the prevailing key technologies identified within the Indian insurance sector so far comprise of: Key aaaTechnologies bbb ccc ddd Technology trends identified in the industry can be summarized as below: xyz – zzz abc – yyy Trends def – xxx Major PlayersCompetition IBM Microsoft Red Hat Wipro CMC TCS IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 2
  3. 3. •Insurance Industry – Overview•IT Landscape – Indian Insurers General Insurer Life Insurer Health Insurer IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 3
  4. 4. Indian Insurers - History xxx Insurers - India Numbers 25 22 22 23 1 1 1 20 16 16 13 13 14 14 15 11 1 1 1 1 1 1 10 1 21 21 22 4 13 13 15 15 a 5 10 12 12 1 b 3 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 xxx Insurers - India Numbers 24 25 22 22 20 6 16 17 6 6 14 15 15 15 15 11 6 6 6 6 6 10 8 5 4 15 15 17 a c 5 4 8 8 8 8 9 10 6 x 3 0 1 1 1 1 1 1 1 1 1 1 1 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010Source: IRDA IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 4
  5. 5. Rise in working class population and growing disposable income is driving the insurance sector in India Insurance Industry – Snapshot (India) xxx Insurers – India (2011) •The highly dynamic Insurance sector can be x y z Numbers primarily segregated into Life and Non-Life Insurance segments 60 41 9th • Indian Life insurance business is ranked 40 23 amongst 156 countries and contributes to 20 8 about 2.69% to the global market in 2010 6 1 18 0 1 0 • On the other hand, the non-life insurance xxx zzz business was ranked at the 19th position in 2010 No. of Insurers taken are as of 30th Sep, 2011 and contributes to about 0.58% of the global market •Post liberalization in India, the sector witnessed a persistent entry of foreign xxx Insurance - Market Share players As of now, state owned LIC maintains its xxx yyy INR tr leadership with approximately 76% in terms of 2.92 3 2.65 new business premiums while the remaining 25% is split amongst 23 private players 2 •Favorable economic demography and rising 1 0.35 0.43 disposable incomes are the primary growth 0 drivers for the sector 2009-10 2010-11Source: IRDA IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 5
  6. 6. Insurance Industry Hierarchy – India State run LIC governs Public the entire public life insurance domain Life Insurance Currently, a stiff competition Private prevails amongst 23 private players Ministry of IRDA Finance Players have primarily targeted the retail segment Public and brought in efficient strategies Non-life to strengthen their distribution Insurance channel Private players have carved a niche for Private themselves in termsIRDA: Insurance Regulatory and Development Authority of service qualitySource: IBEF IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 6
  7. 7. General Insurer- xxx Corporate Information Business Highlights • Operates as a subsidiary of … Company Snapshot • Through its subsidiaries, provides insurance solutions Foundation: for protection, health, wealth with protection, Headquarter: children, and retirement needs • The company comprises of … Address: Website: Phone: Products and Services xxx yyy zzz aaa bbb ccc ddd eee fff gggSource: Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 7
  8. 8. Technology Implementation (x/x) ICT Vendor – abc Requirements Solution Benefit • Gain a better understanding of • BI and CRM initiative provided • Increased efficiencies in customers across the financial valuable insights for all sales, productivity and deployment of services businesses marketing and customer its services • Provide better, relevant and service-related business units • Currently, customers receive timely service to its customer within the Financial Services improved, relevant and timely base Group services Technology Used xxxSource: Databases, Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 8
  9. 9. Sales Intelligence (1/x) Mr. x Mr. x CFO Vice President - IT E-mail x E-mail x Phone x Phone x Professional •xxx Professional •xxx History: History:Source: Social Network Websites; Databases; Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 9
  10. 10. Thank you for the attentionThe IT landscape of Insurance Players – India report is a part of Research on India’sInformation Technology Series. For more detailed information or customized researchrequirements please contact:Kalyan BangaPhone: +91 33 4064 6215E-Mail: kalyan.banga@netscribes.comResearch on India is a product of Netscribes (India) Pvt. Ltd. Research on India is dedicated to disseminating information and providing quickinsights on “hot” industries in India and other emerging markets. Track our new releases and major updates in these industries onAbout NetscribesNetscribes is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment & business research, business &corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base.Netscribes is a one-stop shop designed to fulfil clients’ profitability and growth objectives.Disclaimer: This report is published for general information only. Although high standards have been used the preparation, Research on India, Netscribes (India) Pvt. Ltd.or “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes (India) Pvt. Ltd. and priorpermission is required for guidelines on reproduction. IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT 10

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