Global InsurTech Market (2019-2023) to Grow at Over 41% - Integration of Big Data & AI in InsurTech to Drive this Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Feb 6, 2019--The “Global InsurTech Market 2019-2023” report has been added to ResearchAndMarkets.com’s offering.
The InsurTech market will register a CAGR of over 41% by 2023.
Integration of Big Data and AI in InsurTech to drive market growth
InsurTech companies are seeking the means to store, analyze, and search vast amounts of data. Such an analysis would help them in segmenting customer populations, identifying opportunities for new products and services, and optimizing pricing mechanisms. The use of Big Data and new data can improve investment decision and help insurance companies in arriving at the comprehensive credit scoring mechanism.
Influence of digitization
With the increasing number of devices, it has become challenging to manage, monitor, and maintain the data in an organization. Thus, the demand for machine-to-machine (M2M) communications will rise as it helps an insurance service provider in simplifying the management, monitoring, and maintenance of connected devices.
In addition, enterprises now experience significant improvements in business processes with the adoption of fully digital processes. The emergence of several technologies with respect to the payment systems has made the transaction process easier for the insurance companies.
Regulatory and economic uncertainty
The global economy is slowly recovering, and the rate varies from region to region. According to the International Monetary Fund (IMF), the long-term effects of the financial crisis are stagnating the Eurozone. Private consumption is a significant force that is powering the growth of the Eurozone economy.
The market appears to be fragmented and with the presence of several companies including Trov and ZhongAn, the competitive environment is quite intense.
Key PlayersOscar Quantemplate Shift Technology Trov ZhongAn
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPEMarket ecosystem Market characteristics Market segmentation analysis
PART 04: MARKET SIZINGMarket definition Market sizing 2018 Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSISBargaining power of buyers Bargaining power of suppliers Threat of new entrants Threat of substitutes Threat of rivalry Market condition
PART 06: CUSTOMER LANDSCAPE
PART 07: GEOGRAPHIC LANDSCAPEGeographic comparison North America - Market size and forecast 2018-2023 Europe - Market size and forecast 2018-2023 APAC - Market size and forecast 2018-2023 MEA - Market size and forecast 2018-2023 South America - Market size and forecast 2018-2023 Key leading countries Market opportunity
PART 08: MARKET SEGMENTATION BY VALUE CHAIN POSITIONINGComparison by value chain positioning Marketing and distribution - Market size and forecast 2018-2023 IT support - Market size and forecast 2018-2023 Policy administration and management - Market size and forecast 2018-2023 Claim management - Market size and forecast 2018-2023 Others - Market size and forecast 2018-2023 Market opportunity by value chain positioning
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPEOverview Landscape disruption Competitive scenario
PART 13: VENDOR ANALYSISVendors covered Vendor classification Market positioning of vendors Oscar Quantemplate Shift Technology Trov ZhongAn
For more information about this report visit https://www.researchandmarkets.com/research/sjmkc6/global_insurtech?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190206005470/en/
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INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 02/06/2019 10:41 AM/DISC: 02/06/2019 10:41 AM