March 2010 April 2010 May 2010 June 2010 July 2010
August 2010
September 2010 October 2010
November 2010
December 2010
January 2011
February 2011 March 2011 April 2011 May 2011 June 2011 July 2011 August 2011 September 2011 October 2011 November 2011 December 2011 January 2012 February 2012 March 2012 April 2012 May 2012 June 2012 July 2012 August 2012 September 2012 October 2012 November 2012 December 2012 January 2013 February 2013 March 2013 April 2013 May 2013 June 2013 July 2013 August 2013 September 2013 October 2013 November 2013 December 2013 January 2014 February 2014 March 2014 April 2014 May 2014 June 2014 July 2014 August 2014 September 2014 October 2014 November 2014 December 2014 January 2015 February 2015 March 2015 April 2015 May 2015 June 2015 July 2015 August 2015 September 2015 October 2015 November 2015 December 2015 January 2016 February 2016 March 2016 April 2016 May 2016 June 2016 July 2016 August 2016 September 2016 October 2016 November 2016 December 2016 January 2017 February 2017 March 2017 April 2017 May 2017 June 2017 July 2017 August 2017 September 2017 October 2017 November 2017 December 2017 January 2018 February 2018 March 2018 April 2018 May 2018 June 2018 July 2018 August 2018 September 2018 October 2018 November 2018 December 2018 January 2019 February 2019 March 2019 April 2019 May 2019 June 2019 July 2019 August 2019 September 2019 October 2019 November 2019 December 2019 January 2020 February 2020 March 2020 April 2020 May 2020 June 2020 July 2020 August 2020 September 2020 October 2020 November 2020 December 2020 January 2021 February 2021 March 2021 April 2021 May 2021 June 2021 July 2021 August 2021 September 2021 October 2021 November 2021 December 2021 January 2022 February 2022 March 2022 April 2022 May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 May 2023 June 2023 July 2023 August 2023 September 2023 October 2023 November 2023 December 2023 January 2024 February 2024 March 2024
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29
30
31
News Every Day |

Insurtech Market Segmentation and Analysis by Recent Trends, Development and Growth by Regions to 2028

Insurtech Market Segmentation and Analysis by Recent Trends, Development and Growth by Regions to 2028

The global insurtech market size 2020 is estimated to be valued at $7,841.0, growing at a CAGR of 29.1% and is expected to reach $57,934.0 million by 2028.

COVID-19 Impact on the Insurtech Market

The global insurtech market trend is projected to be positively impacted by the COVID-19 outbreak. Businesses all across the world are attempting to increase their competitiveness and market worth in order to prepare for the pandemic. Businesses and customers avoid personal touch to prevent the spread of infections. These actions will benefit artificial intelligence, blockchain, and other user-friendly insurance technology. As a result, the need for insurtech startups and solutions has increased considerably during the corona virus pandemic.

Checkout How COVID-19 impacts the Insurtech Market. Click Here to Schedule a Call to Speak our Expert Analyst for Triangulate with your own data @ https://www.researchdive.com/connect-to-analyst/8506

Global Insurtech Market Analysis

Market growth is expected to be fueled by rising demand for insurance service digitization. The simplification of claims processes is likely to drive growth of insurtech gateways and fintech insurtechs. Insurance companies are focusing their efforts on improving client interactions and automating operations. They're also concentrating on these solutions because they're utilizing technological advancements designed to improve the effectiveness of the current insurance sector paradigm. These technologies are assisting businesses in discovering prospects such as social insurance and ultra-customized coverage that large insurance companies are less interested in pursuing. These systems price premiums based on observed behavior using new streams of data from internet-enabled devices.

Various laws establish varied norms and regulations across countries, with financial centers taking a more united approach to regulation. This becomes a critical issue for insurtech businesses to develop solutions across several regulations such as MiFID II, GDPR, and others, which causes inter-regulation conflict and, as a result, stifles the insurtech market's growth. For example, in the United States, the National Association of Insurance Commissioners (NAIC) oversees and regulates the insurance business, whereas in Europe, MiFID II requirements apply to insurance companies under its jurisdiction. This is one of the key constraints to market expansion.

The insurtech market is set to reach new heights as the number of small businesses grows and technology improves in the insurance industry. Several commercial insurers employ predictive analytics to acquire a lot of information in order to properly understand and forecast organizational risks and losses. The use of technologies is aimed at improving customers' trust and improve the company's value by providing advanced facilities, such as easy and effective insurance policies with reduced premium rates. Furthermore, due to government regulation mandating insurtech, the insurtech market is expected to provide varied opportunities during the forecast period.

Global Insurtech Market, Segmentation

The global insurtech market is segmented based on technology, product, distribution channel, and region.

Technology:

The technology sub-segment is further classified into AI & machine learning, IoT, blockchain, and others of which the AI & machine learning sub-segment is projected to generate the maximum revenue during the forecast period. The AI & machine learning sub-segment is predicted to register a revenue of $26,481.8 million during the forecast period.

AI enables insurers to create these one-of-a-kind experiences while still meeting current consumers' high-speed demands. The goal is to use AI's abilities to tap into the massive amounts of consumer data available in order to create personalized experiences based on a person's interests and habits. Furthermore, machine learning has the potential to not only improve but also automate the claims processing process. When files are digital and accessible via the cloud, pre-programmed algorithms can be used to assess them, resulting in faster and more accurate processing.

Product:

The product segment is further divided into life insurance and property & casualty insurance sub-segments of which the property & casualty insurance sub-segment is projected to generate highest revenue during the forecast period. It is predicted that the market shall generate a revenue of $32,859.4 million by 2028, growing from $4,667.2 million in 2020, with a CAGR of 28.3%.

A number of variables are driving the market's expansion. The rising frequency of severe natural catastrophes is one element that needs a more thorough risk assessment. Many new and emerging risks, including cyber, climate change, pandemics, and intangible assets, are underfunded, while others are slowly being handed over to governments to manage. This decision leaves significant gaps in insurance coverage.

Distribution Channel:

The distribution channel segment is further bifurcated into full stack insurers, agents, and brokers. Among these, brokers sub-segment is expected to generate highest revenue. It is predicted that the market shall generate a revenue of $24,737.1 million by 2028, growing from $3,430.0 million in 2020, with a CAGR of 28.7%.

There has been a surge in demand for goods such as life insurance, vehicle insurance, house insurance, and health insurance, among others, in the insurance sector. This rise in demand is mostly due to greater consumer knowledge of insurance policies, as well as education on the necessity of insurance policies and the numerous benefits they provide policyholders. As policyholders seek the assistance of a broker in finding a policy that suits their needs and preferences, the market has risen as a result of increased demand for insurance policies.

Region:

Asia-Pacific is anticipated to be the fastest growing market during the forecast time period and reach $13,689.8 million by 2028, with a CAGR of 30.2%.

The Asia-Pacific regional market is predicted to increase significantly throughout the forecast period due to the presence of various emerging economies and financial centers such as Singapore, India, and Hong Kong. Insurance firms in the region are aiming to give low-cost insurance premium options. As cloud technologies become more widely used and internet users become more frequent, the region's insurance companies are increasingly moving to digital insurance platforms.

Get | Download an PDF Sample Report@ https://www.researchdive.com/download-sample/8506

Key Players in the Global Insurtech Market

  1. American Well Corporation
  2. Acko general insurance
  3. Clover Health
  4. Damco Group
  5. Majesco
  6. Oscar Insurance
  7. Quantemplate
  8. Shift Technology
  9. Trov Insurance Solutions, LLC
  10. Zhongan Insurance

Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.

Москва

Sitronics Group рассказала о достижениях компании в области корпоративного спорта

Top 5 Websites to Watch FREE Movies - TV Shows (No Sign up!)

The 10 Intense New Action Movies on Netflix That Left Me on the Edge of My Seat!

Top 10 Emmanuelle Seigner Movies

I was diagnosed with cancer aged 39… you are never too rich, too famous or too young, says Dr Philippa Kaye

Ria.city






Read also

Clean up I-95, once and for all | Letters to the editor

Connecticut continues March Madness domination as leaving legacy provides motivation

Subsidise raw materials for manufactures, MAN urges FG

News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

The 10 Intense New Action Movies on Netflix That Left Me on the Edge of My Seat!

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Top 5 Websites to Watch FREE Movies - TV Shows (No Sign up!)



Sports today


Новости тенниса
WTA

Российская теннисистка Калинская покинула WTA-1000 из-за проблем со здоровьем



Спорт в России и мире
Москва

Блиц-матч по шахматам между двумя командами провели в павильоне «Спорт для каждого»



All sports news today





Sports in Russia today

Москва

GeekVape в сотрудничестве с Absolute Racing выиграла чемпионат в категории GT3


Новости России

Game News

Красочное приключение Lona: Realm Of Colors перенесли на смартфоны


Russian.city


News Every Day

Top 5 Websites to Watch FREE Movies - TV Shows (No Sign up!)


Губернаторы России
Петербург

Путин отчитал Беглова за место Петербурга в туристическом рейтинге


Федор Бондарчук назвал фильм «Сто лет тому вперед» революцией в российском кино

Собянин: каждый москвич с инвалидностью получает помощь от города

Путин заявил, что для России важнее всего отношения с ближайшими соседями

Андрей Бочкарев: Сквер и городская площадь появятся на юго-западе Москвы


Концерт благотворительного фонда Владимира Спивакова прошел в Солнечногорске

Музыкант Устьянцев: Сергей Шнуров — профессионал, а Жуков — «балалаечка»

Финал всероссийского студенческого трека Олимпиады Кружкового движения НТО «Летающая робототехника» 2024

Розенбаум исполнил «Вечернюю застольную» в память о жертвах теракта в «Крокусе»


«Бомж» Дарья передает всем привет»: Касаткина ответила на слова Винер

Россиянка покинула WTA-1000 из-за проблем со здоровьем

Виктория Азаренко вышла в полуфинал турнира WTA-1000 в Майами

Хачанов победил Черундоло и пробился в 1/8 финала турнира ATP в Майами



Пассажир рейса Москва — Пермь попал в реанимацию

Перенос дат II этапа культурного проекта «Классика: история и современность» в Дмитрове

Шапки женские вязаные на Wildberries, 2024 — новый цвет от 392 руб. (модель 466)

Архитектурные доминанты округов Москвы


Минстрой предложил увеличить стоимость жилья в большинстве регионов России

Выпуск ЦФА на платформе «Атомайз» поможет снизить нагрузку на экологию

Продвижение Песен и Музыки в Плей-листах Яндекс.Музыка.

На ЧЭРЗ приступили к реорганизации производственной площадки


Мужчину с мочекаменной болезнью спасли в больнице в Долгопрудном

В Кемерове ребёнок поранился о сиденье старого троллейбуса

СМИ: Во время нападения на «Крокус» погиб полковник ГРУ

Участок трассы М-7 Волга в районе Екатериновки в Татарстане перекроют в ночь на 30 марта



Путин в России и мире






Персональные новости Russian.city
Джиган

Джиган откровенно рассказал, почему начал худеть, и раскрыл свой максимальный вес



News Every Day

Top 5 Websites to Watch FREE Movies - TV Shows (No Sign up!)




Friends of Today24

Музыкальные новости

Персональные новости