Insurers Adding Capabilities Through Outsourcing

Insurers are shifting their outsourcing dollars to adding new capabilities and infrastructure, and away from application development and maintenance.

INN Breaking News, January 21, 2014

Chris McMahon

Technology talent in the United States is scarce, and yet 42 percent of heavy IT outsourcing users plan to reduce their spending in 2014 for application development and maintenance outsourcing, according to “Insurance IT Outsourcing Update,” a report from Novarica. According to the report, insurers are spending between 16 and 24 percent of their IT budgets on outsourcing and external staff accounts for between 20 and 40 percent of headcount, Novarica said.

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