Industry Essential: The US Insurance Market

August 10th, 2007

Ellen Carney Principal Analyst

Marc Cecere

With contributors:

Bradford Holmes , Eric Brown , Emily Van Metre

Summary

The US insurance industry is the fifth largest industry sector in the country. The industry generated almost $1.4 trillion in revenues in 2002, yet, on average, it earns less than a penny for every premium dollar received. Insurance is regulated at the federal and state level, and the need to comply with 51 regulatory bodies drives a number of IT solution considerations. What do you need to know when selling technology goods and services into the US insurance market? This market overview describes the structure of the US insurance industry, its business and technology trends, industry leaders, strategic technology suppliers, and technology investment forecasts. It addresses the property and casualty, life and annuities, and reinsurance segments. Health insurance will be treated in a separate document.

Want to read the full report?

This report is available for individual purchase ($1495).

Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.