US Life Insurance Technology Spending Forecast 2022

How Providers Can Allocate Budgets for Success

About This Report
To stand out against competitors, tech leaders must sharpen their agility to act quickly on emerging opportunities, zero in on key priorities, and carefully allocate budgets.
Table of Contents

Executive Summary

In 2022, total life insurance IT/technology expenses will rise by 6.7%, the fastest rate since 2019. But annual growth will trend lower through 2026, upping the pressure on life insurers to allocate budgets carefully.

Key Question: How should insurers adjust to slowing growth and most effectively allocate budget dollars?

KEY STAT: US life insurance IT/tech spending will rise to $5.66 billion in 2022, as companies push ahead with multiyear modernization initiatives while pursuing emerging opportunities.

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Table of Contents

  1. Executive Summary
  2. Life Insurers Face a Make-or-Break Moment
  3. Where Are Life Insurers Allocating Their Tech Budgets?
  1. Who’s Partnering With Insurers on Tech Priorities?
  2. Read Next
  3. Sources
  1. Media Gallery


Eleni Digalaki


Tyler Brown
Senior Analyst
Caitlin Cahalan
Researcher, Financial Services
Shelleen Shum
Senior Director, Forecasting
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