NJ New Jersey, USA -- (SBWire) -- 02/10/2023 --The Global InsurTech Market Report assesses developments relevant to the insurance industry and identifies key risks and vulnerabilities for the InsurTech Industry to make stakeholders aware with current and future scenarios. To derive complete assessment and market estimates a wide list of Insurers and aggregators, and the agency was considered in the coverage; Some of the top players profiled are Friendsurance (Germany), Oscar (United States), ZhongAn (China), Shift Technology (France), Quantemplate (United Kingdom), Allay (United Kingdom), Analyze Re (Canada), GetInsured (United States), Bayzat (United Arab Emirates), Trov (United States).
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Definition:
Insurtech is a combination of “insurance†and “technologyâ€. Insurtech is a technology that lies behind the creation, distribution and administration of insurance business. It is used to make the current insurance model more efficient. It is useful for collecting and analyzing customer data to provide a better service. Big data, artificial intelligence and internet of things (IoT) are the current focus of the insurtech. Insurtech develops and offer the right products at the right time to the insurer.
Market Trends:
Digitization of Processes and Personalization of Premiums
Market Drivers:
Empowers Customers to Take Control of Their Insurance
Quickly Summarize and Present the Most Relevant Product
Rising Internet Based Business Ecosystem
Market Opportunities:
Massive Market Size of Insurtech
In 2019, the digital insurance platform Friendsurance now offers its digital bancassurance solutions under the brand name Friendsurance Business. To serve this purpose, the company has launched a new targeted web presence.
The Global InsurTech Market segments and Market Data Break Down are illuminated below:
by Type (Life Insurance, Health Insurance, Property and Casualty Insurance, Others), Application (Automotive, BFSI, Manufacturing, Government, Healthcare, OThers), Technology (Blockchain, Cloud Computing, IoT, Others), Service (Consulting, Managed services, Support & maintenance)
Global InsurTech market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.
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Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
North America (United States, Mexico & Canada)
South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
Objectives of the Report
-To carefully analyze and forecast the size of the InsurTech market by value and volume.
-To estimate the market shares of major segments of the InsurTech
-To showcase the development of the InsurTech market in different parts of the world.
-To analyze and study micro-markets in terms of their contributions to the InsurTech market, their prospects, and individual growth trends.
-To offer precise and useful details about factors affecting the growth of the InsurTech
-To provide a meticulous assessment of crucial business strategies used by leading companies operating in the InsurTech market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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Major highlights from Table of Contents:
InsurTech Market Study Coverage:
It includes major manufacturers, emerging player's growth story, and major business segments of InsurTech market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
InsurTech Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
InsurTech Market Production by Region InsurTech Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.
Key Points Covered in InsurTech Market Report:
InsurTech Overview, Definition and Classification Market drivers and barriers
InsurTech Market Competition by Manufacturers
Impact Analysis of COVID-19 on InsurTech Market
InsurTech Capacity, Production, Revenue (Value) by Region (2021-2027)
InsurTech Supply (Production), Consumption, Export, Import by Region (2021-2027)
InsurTech Production, Revenue (Value), Price Trend by Type {Life Insurance, Health Insurance, Property and Casualty Insurance, Others}
InsurTech Market Analysis by Application {Automotive, BFSI, Manufacturing, Government, Healthcare, OThers}
InsurTech Manufacturers Profiles/Analysis InsurTech Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.
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Key questions answered
How feasible is InsurTech market for long-term investment?
What are influencing factors driving the demand for InsurTech near future?
What is the impact analysis of various factors in the Global InsurTech market growth?
What are the recent trends in the regional market and how successful they are?
Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
