Indian Insurance Cos To Focus on Mobile; Mobile Spend to Touch Rs 410 Cr in 2014

Indian insurance companies’ spend on mobile devices will grow by 35% over the last year, Gartner forecasts.

Indian insurance companies will focus on mobile devices and increase spend  in the category in 2014. Gartner has forecast that it will up its spend on mobile devices by 35% from 2013.

In 2014, the companies are likely to spend Rs 410 cr on mobile devices as Indian insurance CIOs focus on mobile enablement to increase sales and channel efficiency.

The mobile device market in India as a whole is also set to see strong growth for the year. The tabet market is expected to grow by 160% YoY, and the mobile devices market will grow 24%.

There will be only a 5% increase in spend on IT products and services from 2013. The spend on IT products and services for insurance companies is pegged at Rs 11,700 cr for 2014.

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