Forecast to reach Rs 3,060 crore in 2013, up from Rs 2,700 crore in 2012
PTI | January 24, 2013
Indian insurance companies' spend on IT products and services is expected to increase by 9 per cent to Rs 10,100 crore in 2013, over the previous year's Rs 9,250 crore, technology research firm Gartner has said.
This forecast includes spending by insurers on internal IT (including personnel), hardware, software, external IT services and telecommunications, it said.
IT services has overtaken telecommunications to become the biggest spending segment, and is forecast to reach Rs 3,060 crore in 2013, up from Rs 2,700 crore in 2012, Gartner said.
IT services is achieving the highest growth rate amongst the top level IT spending segments, forecast to exceed 13 per cent in 2013, with growth of 23.4 per cent for business process outsourcing services. Consulting is also a high growth segment at over 18.2 per cent in 2013.
Derry Finkeldey, principal analyst at Gartner said, "The Indian insurance industry is experiencing huge growth in transaction volumes, and Indian consumers are quite progressive in terms of seeking online and mobile services.
Insurers are turning to experienced IT vendors to help them navigate the inevitable complexity this is producing."
More than three percent of medicines in India are ‘Not of Standard Quality’ (NSQ) and 0.0245 percent spurious, reveals a survey report on drugs quality by the ministry of health. The survey carried out by National Institute of Biologicals (NIB), Noida found that out of the
Bharat electronics limited (BEL) has launched a new weapon control system — Remote Controlled Weapon Station (RCWS) / Air Defence Weapon Station (ADWS) for 12.7 mm gun of MBT Arjun Mk II battle tank during recently concluded Aero India 2017 in Bengaluru. The new weapon control system
The Sasikala camp is in talks with the O Panneerselvam (OPS) faction and they are trying to win them over, says an AIADMK insider. Negotiation have started between the main AIADMK, which is with Sasikala, and the splinter group that is supporting former chief minister OPS. The party insider
On October 1 last year, Mehtab Alam Ansari, 30, who worked as a tailor in Delhi, had arrived in his village, Chepa Khurd in Barkagaon tehsil of Harazibagh district, to celebrate Eid with his family. That morning, he was nearing Dadi Kalan, a neighbouring village, to meet an acquaintance when he hea
State run enterprise oil and natural gas corporation limited (ONGC) has decided to invest Rs 7,327 crore to develop five projects to produce oil and gas. The decision was taken in its 290th board meeting held on February 23. The projects include development of R-Series fields, incl
The civic election results could well have long term implications in Maharashtra’s politics, with the Bharatiya Janata Party (BJP) doing dramatically well and the Shiv Sena failing to get a simple majority. The Shiv Sena won 84 seats, while the BJP bagged 82 seats. Th