Indian insurers to spend Rs 13,000 crore on ICT in 2015 - Gartner

The Indian insurance market is third fastest growth market for ICT after retail and banking in 2015, according to Gartner. Indian insurance companies will spend Rs 11,890 crore on IT products and services in 2014, and spending will increase to Rs 13,000 crore in 2015.

This spending by insurers includes internal IT (including personnel), hardware, software, external IT services and telecommunications.

Insurance companies in India are extending access to corporate applications via mobile devices. This not only leads to spending on the devices. Indian insurance companies are expected to spend Rs 420 crores rupees on mobile devices, mobile data management (MDM) platforms, application development and tablets.

However spending on PCs is forecasted to decline.