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Follow on Google News | Now Available: 2010 Guide to the US Property & Casualty Industry for Technology ProvidersFast Market Research recommends "2010 Guide to the US Property & Casualty Industry for Technology Providers (Industry Dynamics)" from Datamonitor, now available
Scope * US Property & Casualty insurance industry * This report covers opportunities for technology providers selling to the US P&C insurance industry Highlights The market forces impacting the US P&C insurance industry are intensifying. Finding profitable growth is the US P&C insurance industry's greatest challenge. Technology firms must have a truly differentiated value proposition to get the attention of P&C insurers who are, by nature, slow to replace existing providers or adopt new technology. Reasons to Purchase * This research identifies opportunities for technology providers selling to the US P&C insurance industry * This research provides a primer for technology salespeople unfamiliar with the US P&C insurance industry Report Table of Contents: SUMMARY 2 Catalyst 2 Ovum View 2 Key Messages 2 THE US PROPERTY & CASUALTY INSURANCE INDUSTRY IS CAUTIOUSLY OPTIMISTIC 3 A high-level view of the multi-billion dollar US P&C insurance industry 3 P&C insurance is a multi-faceted product 5 P&C insurers discuss the retail and corporate markets in different terms than L&A insurers 6 Personal and commercial P&C insurance customers have similar reasons for purchasing coverage 7 Automobile insurance dominates the total P&C insurance market 9 P&C insurers generate revenue from customers and investments 10 P&C insurers use metrics focusing on losses and expenses to get a sense of profitability 11 The high-level strategic and operational aspects of the P&C insurance industry illustrate the essence of the industry 13 THE MARKET FORCES IMPACTING THE US P&C INSURANCE INDUSTRY ARE INTENSIFYING 14 P&C insurers are continually impacted by major market forces 14 FINDING PROFITABLE GROWTH IS THE P&C INSURANCE INDUSTRY'S GREATEST CHALLENGE 17 P&C insurance companies have traditionally focused on costs and compliance 17 The US P&C insurance industry market maps illustrating participants such as policyholders, prospects and producers provide sign posts to profitable growth 18 TECHNOLOGY IS THE ENGINE THAT ENABLES THE US P&C INSURANCE INDUSTRY 20 There are six major areas of business opportunities requiring technology support 20 Each of the business opportunities can be explored for potential technology applications 22 RECOMMENDATIONS FOR TECHNOLOGY PROVIDERS 23 Have a truly differentiated value proposition 24 Realize the differences of the speed of change between the technology and P&C insurance industries 24 Demonstrate US P&C insurance industry business knowledge 25 Offer modular solutions or pilots 25 APPENDIX 26 Ask the analyst 26 Definitions 26 Further reading 27 Ovum Consulting 28 Disclaimer 28 List of Figures Figure 1: Top five countries by P&C direct premiums written, 2008 (US $ billions) 5 Figure 2: Terms that P&C and L&A insurers use to describe the retail and corporate markets 7 Figure 3: P&C insurance is sold to both individual and corporate clients 9 Figure 4: Percent of top five US P&C insurance lines of business, 2008 written premium 10 Figure 5: Where the P&C insurance company revenue dollar goes, 2008 11 Figure 6: Three key P&C ratios for the 2004-2009 time period 12 Figure 7: High-level snapshot of the US P&C insurance industry 13 Figure 8: The major market forces impacting the US P&C insurance industry 16 Figure 9: Value of insured coastal properties vulnerable to hurricanes for the top ten states, 2007 ($ billions) 17 Figure 10: High-level map of the US P&C personal lines insurance market 19 Figure 11: High-level map of the US P&C commercial lines insurance market 20 Figure 12: Six major P&C insurance company challenges requiring technology support 22 Figure 13: Selected potential technology applications for each of the six business opportunity areas 23 About Datamonitor The Datamonitor Group is a world-leading provider of premium global business information, delivering independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities, Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and Telecoms industries. Datamonitor's market intelligence products and services ensure that you will achieve your desired commercial goals by giving you the insight you need to best respond to your competitive environment. View more research from Datamonitor at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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