This report discusses global insurance technology market trends, services, companies profiles, third party administration, brokers, aggregators, and regional opportunities. The analysis of pioneering verticals and geographical regions is also discussed to anticipate the deployment rate of Insurance Industry.
Dallas, TX -- (SBWIRE) -- 10/12/2018 -- Technological changes are reshaping the insurance industry and forward-looking insurers are making investments that has improved their pricing, customer centric and create operational efficiencies. Tech-driven disruption in the global insurance technology market continues at pace and the industry has entered a new phase where insurance technology market size is expected to reach xx% by the end of 2025 along with a healthy CAGR of x%.
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Constant challenges experienced by insurance industry, knowing the widely spread insurance fraud and the inadequacy to account unforeseen costs, push these companies to spend capital on reinsurance policies. As insurance companies comes under pressure of reducing costs and acquiring new customers, the focus is shifted towards data and analytics, retention tools and customer acquisition. Hence, Insurance technology came into scenario. This trend has attributed to the increased adoption of Internet of Things (IoT) products. This shifted insurer's focus from product-based strategies to customer-centric strategies, and escalating alertness among insurers to digitalize channels.
Prominent insurers have embraced evolving technologies such as virtual reality intelligent automation, block chain, weaving themselves into their audience's everyday lives. Artificial Intelligence has become more sophisticated and autonomous, evolved from robotic process automation in the back-office to stepping into AI serving customers on the front-line.
Furthermore, the regional analysis of global Insurance technology market concludes the active regions including Europe, Latin America, Asia Pacific, North America, and Rest of the World.
As per regional analysis, North America holds the highest percentage of insurance technology market share and govern the digital insurance platform market. Due to higher accumulation of insurance companies in the North American region, it has hugely contributed to the digital insurance platform.
However, the Asia Pacific (APAC) region is anticipated to provide abundant opportunities for digital insurance platform service providers. Consequently, these growth opportunities has turned to the contribution of rising commercial investments by most of the companies in the APAC region.
The detailed segments and sub-segment of the market are explained below:
By End User:
Third Party Administration and Brokers
? North America
? Asia Pacific
? Latin America
? Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Some of the leading market players include:-
- By Miles
- Insurance Technology Services
- Patriot Technology Solutions
- DXC Technology
- Marias Technology
- MSG Life
- Majesco-et-al and so on.
Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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Major Point from Table of Content:
Chapter 1. Executive Summary
Chapter 2. Global Insurance Technology Market Definition and Scope
Chapter 3. Global Insurance Technology Market Dynamics
Chapter 4. Global Insurance Technology Market Industry Analysis
Chapter 5. Global Insurance Technology Market, By Component
Chapter 6. Global Insurance Technology Market, By End-User
Chapter 7. Global Insurance Technology Market, by Regional Analysis
Chapter 8. Competitive Intelligence
8.1. Company Market Share (Subject to Data Availability)
8.2. Top Market Strategies
8.3. Company Profiles
188.8.131.52. Financial (Subject to Data Availability)
184.108.40.206. Product Summary
220.127.116.11. Recent Developments
8.3.5. By Miles.
8.3.8. Insurance Technology Services
8.3.9. Patriot Technology Solutions.
8.3.12. DXC Technology
8.3.13. Marias Technology
8.3.14. MSG Life
Chapter 9.Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.3. Market Estimation
9.1.6. Research Assumption
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