2010 will test the Israeli Insurance Industry

2010 will test the Israeli insurance industry.

The “recession” hit an industry that had been seen as a safe employment haven, and, because of its financial conservatism,it shifted its cost-cutting focus into high gear very early in the recession leaving their traditional vendors especially vulnerable.

We see now a series of “new initiatives” in areas like loan management, capital investment management, agent performance management, business intelligence and analytics, CRM (defining who is the client, finally) and parts of the core insurance applications.

Another area that we are going to see a lot of movement is INFRASTRUCTURE management and more outsourcing.