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Global InsurTech Market (2019-2023) to Grow at Over 41% - Integration of Big Data & AI in InsurTech to Drive this Growth - ResearchAndMarkets.com

February 6, 2019

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.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including Trov and ZhongAn, the competitive environment is quite intense.

Key Players

Oscar Quantemplate Shift Technology Trov ZhongAn

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

Market ecosystem Market characteristics Market segmentation analysis

PART 04: MARKET SIZING

Market definition Market sizing 2018 Market size and forecast 2018-2023

PART 05: FIVE FORCES ANALYSIS

Bargaining 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 LANDSCAPE

Geographic 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 POSITIONING

Comparison 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 LANDSCAPE

Overview Landscape disruption Competitive scenario

PART 13: VENDOR ANALYSIS

Vendors 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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Related Topics:Software

KEYWORD:

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

http://www.businesswire.com/news/home/20190206005470/en

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