Insurtech Market: 2020 Worldwide Opportunities, Market Share, Key Players and Competitive Landscape

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including type, service, technology, end-use, and regions.

Leading Players in the Insurtech Market:

The Insurtech Market is fairly fragmented, and a number of global and regional players operating in the market are:

DXC Technology Company
Damco Group
Insurance Technology Services
Oscar Insurance
Majesco
Quantemplate
Wipro Limited
Shift Technology
Zhongan Insurance
Trōv, Inc.

Insurtech Market drivers:

The global insurtech market is experiencing an upsurge in demand over the forecast period. This is mainly due to the increasing adoption of advanced technologies by insurance companies to improve their operations, growing automation, and enhancing communication with clients. Insurtech offers faster services and enables companies to analyze market risks. This factor is surging the demand for insurtech solutions among insurance companies. Insurance companies deal with a large volume of data, which becomes hard to manage and monitor. The use of payment processed technologies helps in processing smooth transaction processes.

Insurtech allows customization of policies through new streams of data, which sets the dynamic price of the premiums according to customer behavior. This technology improves the security of business by simplifying the unstructured data that is gathered by data analytics. In insurance companies, the identification of customers is essential; thus, it becomes difficult to carry out this process manually. Insurtech fastens the identification process of customers, lowers costs, and boosts profitability, which are some of the factors accelerating the growth of the global insurtech market.

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Insurtech Market Segmentation:

According to the report published by GMI Research, titled “Insurtech Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Type:

Auto
Business
Health
Home
Speciality
Travel
Others

By Service:

Consulting
Support & Maintenance
Managed Services

By Technology:

Blockchain
Cloud Computing
IoT
Machine Learning
Robo Advisory
Others

By End-Use:

Automotive
BFSI
Government
Healthcare
Manufacturing
Retail
Transportation
Others

By Region:

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, be it small and medium enterprises or large organization. Our research team helps the clients to understand the importance and impact of the market dynamics. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients.

GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use both internal and external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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