Insurance cos’ IT spend will rise 12%

Our Bureau Mumbai | Updated on February 19, 2014 Published on February 19, 2014

Indian insurance companies will spend ₹12,100 crore on IT products and services in 2014, a 12 per cent rise over 2013. This forecast includes spending by insurers on internal IT (including personnel), hardware, software, external IT services and telecommunications. The 1,200 crore software segment is forecast to be the fastest external segment, growing at 18 per cent in 2014 overall, lifted by accelerated growth of insurance-specific software.

Published on February 19, 2014
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