"The Persuasive Insurtech Market Report is a window into the industry that discusses market definition, classification, application, engagement, and market trends. Additionally, strategic models around growth objectives are designed by analysts, with detailed analysis of routes to market, competencies to be leveraged and developed, and any potential constraints. The Insurtech s Market Study also evaluates the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis. Leave no stone unturned when researching and analyzing data to prepare market research reports like this and others.
The large-scale Insurtech Market Report serves as an established source of information to offer a telescopic view of the current market trends, situations, opportunities and status. The report is divided into several characteristics which include manufacturers, regions, types, applications, market status, market share, growth rate, future trends, market drivers, opportunities, challenges, emerging trends, risks, entry barriers, sales channels, and distributors which are again detailed in the report as necessary to define the topic and provide maximum information for better decision making. Additionally, the excellent Insurtech Market report also provides a top to bottom assessment of the market with respect to revenue and emerging business sectors.
Global Insurtech Market was valued at USD 3.70 billion in 2021 and is expected to reach USD 14.00 billion by 2029, registering a CAGR of 18.10% during the forecast period of 2022-2029.
Explore Further Details about This Research Insurtech Market Report https://www.databridgemarketresearch.com/reports/global-insurtech-market
Report Scope and Market Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2022 to 2029 |
Base Year | 2021 |
Historic Years | 2020 (Customizable to 2014 - 2019) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Product (AI, Hadoop, Block Chain), Application (Products, Services), Type (Auto, Business, Health, Home, Speciality, Travel) |
Countries Covered | U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
Market Players Covered | DXC Technology Company (US), Trov, Inc. (US), Wipro Limited (India), ZhongAn (China), TCS (India), Cognizant (US), Infosys (India), Pegasystems (US), Appian (US), Mindtree (India), Prima Solutions (India), Fineos (Ireland), Bolt Solutions (US), Majesco (US), EIS Group (US), Oscar Insurance (US), Quantemplate (UK), and Shift Technology (India), among others |
Market Opportunities |
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Insurtech Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increase in Insurance Claims
The increase in the number of insurance claims across the globe acts as one of the major factors driving the insurtech market. Also, surge in investments by insurance companies in digital technologies with the purpose of declining operational costs and enhancing operational efficiency.
- Adoption of Blockchain Technology
The rise in the adoption of blockchain technology due to the benefits offered such as faster payments, fraud mitigation, and cost savings, among others accelerate the market growth. Blockchain technology is widely utilized in insurance companies for applications such as Anti-money Laundering (AML) procedures, Know Your Customer (KYC), and claim handling, among others.
- Rapid Digitization of Insurance Services
The rapid digitization of insurance services further influence the market. Also, the use of advanced technological solutions by insurance providers to enhance communications with the clients while implementing automated processes efficiently assist in the expansion of the market.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the insurtech market.
Opportunities
Furthermore, integration of innovative technologies such as artificial intelligence, predictive maintenance, internet of things, and big data extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, widespread adoption of the platform and peer-to-peer business models will further expand the market.
Key Insights Of Insurtech Market Report
- The report comprises a detailed analysis of different segments and offers market valuations between 2023 to 2030.
- This study presents the analytical depiction of the Insurtech Market with the current trends and future estimations to determine the imminent investment pockets
- The report also reveals information with respect to key drivers, restraints, and opportunities coupled with a comprehensive analysis of the global Insurtech Market
- The forecast period of the Insurtech Market is assessed from 2024 to 2030 to highlight the Insurtech Market growth scenario.
- Porter’s five forces analysis establishes the effectiveness of the buyers and suppliers in the business line.
- The key players in the industry are profiled to gain an understanding of the strategies adopted by them.
- This report provides the current trends and future estimations during the forecast period, which in turn aids in identify the prevailing market opportunities.
The company portfolio includes company synopsis, operating business sectors, business overview, product/service categories, and recent growth strategies adopted by them.
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