Celent Projects Growth in IT Spending
NU Online News Service, Feb. 17, 11 :37 a.m. EDT?New York-based Celent Communications predicts that U.S. insurers will spend $28.8 billion on information technology (IT) in 2005?a figure that it says will grow to $42 billion in 2010.
Celent said its newest insurance reports, "U.S. L/H Insurer IT Spending 2005?2010" and "U.S. P-C [property-casualty] Insurer IT Spending 2005?2010," project modest growth over the next five years. The reports break projected spending down among maintenance and new projects, hardware, software, staff, and a number of different functional areas.
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