The annual ICT spending of Munich Re was estimated at $2.8 billion for 2021. A major share of this spending is earmarked for acquiring software, consulting and hardware from vendors. Munich Re is a provider of reinsurance, primary insurance, and insurance-related risk solutions. The company offers customers financial protection when faced with exceptional levels of damage. The company operates its business through five reportable segments: Life and Health Reinsurance, Property-Casualty Reinsurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International.
The Munich Re enterprise tech ecosystem report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, accelerators, incubators, and innovation programs, technology partnerships, technology introductions, investments, acquisitions and ICT spending among others.
Digital Transformation Strategies
Munich Re’s digitization efforts include active investment in big data analytics, artificial intelligence (AI), and machine learning. This includes setting up dedicated units to capture, structure, and analyze data and make these findings available to all business units.
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Munich Re Technology Theme Focus
Munich Re is utilizing a number of emerging technologies including artificial intelligence, big data, and cybersecurity among others to enhance its operational and service capabilities.
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Munich Re Technology Initiatives
Munich Re has been involved in several strategic technology partnerships and collaborations, technology developments and roll outs, and technology investments and acquisitions over the last few years. For instance, in 2018, the company partnered with ONE Insurance and Axon Vibe to develop the One Coach app, a personalized insurance product that calculates an individual’s risk profile. Axon Vibe utilizes the metadata of Munich Re and shares consumer behavior information with ONE. The app assesses work time, sleep, movements, and various lifestyle choices to formulate risk profiles.
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Munich Re ICT Spend by Function
- Data center
- End-user computing
- ICT Service desk
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Munich Re ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- Local resellers
- ICT services providers/consulting firms
- Specialist outsourcers
- Systems integrators
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Munich Re External ICT Spend by Segment
- Software (including Cloud SaaS)
- Hardware (including Cloud Iaas)
- ICT services
- Network and communications
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Munich Re Tech Ecosystem Overview
|Total ICT Spending 2021||$2.8 billion|
|ICT Spend by Function||Data center, Communications, Network, Application, End-User computing, Management, and Service desk|
|ICT Spend by Channel||Internal development and maintenance, Technology vendors (direct), Local resellers, Telcos, ICT services providers/consulting firms, Specialist outsourcers, and Systems integrators|
|External ICT Spend by Segment||Software (including cloud SaaS), Hardware (including cloud Iaas), ICT services, Consulting, Network and communications, and Others|
|Technology Theme Focus||Artificial intelligence, big data, and cybersecurity|
This report provides:
- Insight into Munich Re’s technology activities.
- Insights of its accelerators, incubators, and other innovation programs.
- Overview of technology initiatives covering partnerships, technology introductions, acquisitions, and investments.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Munich Re’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various partnerships.
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Table of Contents
Table of Contents
Digital Transformation Strategy
Accelerators, Incubators, and Other Innovation Programs
Partnership, Investment, and Acquisition Network Map
ICT Budget and Contracts
Frequently Asked Questions
The annual ICT spending of Munich Re was estimated at $2.8 billion in 2021.
The key ICT spending categories by function for Munich Re are communications, data center, network, applications, end-user computing, ICT service desk, and management.
The key ICT spending categories by channel for Munich Re are internal development and maintenance, technology vendors (direct), local resellers, telcos, ICT services providers/consulting firms, specialist outsourcers, and systems integrators.
The key external ICT spending categories by segment for Munich Re are ICT services, software (including cloud SaaS), hardware (including cloud IaaS), ICT services, network and communications, consulting, and others.
The key technological theme in focus for Munich Re are artificial intelligence, and cybersecurity.