Abstract
This IDC study analyzes in detail China' s insurance solution market and its
competition landscape in 2007. It also presents the dynamics and forecasts for
the insurance IT application solutions segments. Specifically, this study
provides China' s top insurance IT solution providers' competition status in
2007 and forecasts of the insurance IT application solution market over the
next five years. Meanwhile, a review of IT spending by solution and geographic
region as well as a future outlook of the major insurance solution markets is
also provided.
"The total market amount of IT solution of the insurance industry in 2007 was
RMB 8.087 million, accounting for 57.2% of the total market amount of insurance
all-around software and IT service. Core business system is still the main
part of investments in the next five years, while bank insurance system,
customer relation management (CRM), call center system, and decision support
system, with compound annual growth rates (CAGRs) of 29.8%, 28.8%, 28.4% and
26.9%, respectively, will be IT application and investment hotspots of China' s
insurance industry within the next five years," says Serena Shang, senior
research analyst, Cross Products and Vertical Industry, IDC China.
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