Technology

Global Insurance Technology Market Report 2021-2029: Growth of technology-driven new entrants along with rising demand for digitalization will drive the market

Global Insurance Technology Market Report 2021-2029: Growth of technology-driven new entrants along with rising demand for digitalization will drive the market

DUBLIN, March 09, 2022–(BUSINESS WIRE)–The “Insurance Technology Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029” report has been added to from ResearchAndMarkets.com offer.

The global insurance technology market is expected to grow at a CAGR of 36.7% over the forecast period 2021 to 2029, from US$1.28 billion in 2020.

Growth of technology-driven new entrants along with growing demand for digitization will drive the market

Innovation through new technologies is a key driver of change in the financial sector. In the coming years, innovations associated with new technological developments are expected to drive the demand for insurance technologies globally.

Growing demand for digital platform coupled with advisory and managed services will drive demand for health insurance globally

Healthcare insurance institutions are focusing on machine learning, artificial intelligence and the Internet of Things (IoT) to deliver advanced application systems, which will further improve customer experience and automate internal business processes.

Growing demand for digital platforms that will connect brokers, carriers, and providers, coupled with health insurance exchanges, is expected to drive demand for the healthcare segment globally. Additionally, health insurance companies are focusing on streamlining processes by implementing digital practices such as digital payments, automated underwriting, connected and collaborative care delivery, and digital enrollment processes that will support the improvement of the health system.

Regional analysis

North America dominated the Insurtech market in 2020. This dominance can be attributed to the growing demand for advanced end-to-end digital financial solutions and the large presence of technology providers.

Moreover, the customization and flexibility offered by different Insurtech products like life insurance and health policies will allow customers to choose between the best plans. Financial associations across North America are significantly focusing on implementing digital skills into their offerings to maintain a significant competitive advantage.

List of companies covered:

  • Damco Group

  • DXC Technology Company

  • majesco

  • Oscar Insurance

  • Quantmodel

  • Shift Technology

  • Trov, Inc.

  • Wipro Limited

  • Zhongan Insurance

  • Amisurance

  • Allai

  • Rest assured

  • Claim Di

  • CommonEasy

Main topics covered

1. Preface

2. Executive Summary

2.1. Market Snapshot: Global Insurance Technology (IT) Market

2.2. Global Information Technology Market, by Type, 2020 (USD Billion)

2.3. Global information technology market, by technology, 2020 (USD billion)

2.4. Global information technology market, by services, 2020 (USD billion)

2.5. Global information technology market, by end use, 2020 (USD billion)

2.6. Global information technology market, by geography, 2020 (USD billion)

3. Market dynamics

3.1. introduction

3.1.1. Global IT market value, 2019-2029, (USD Billion)

3.2. Market dynamics

3.2.1. Market factors

3.2.2. Market constraints

3.3. Attractive investment proposition, by geography, 2020

3.4. Market Positioning of Key Players, 2020

3.4.1. Main strategies adopted by key players

4. Global insurance technology market, by type, 2019-2029 (USD Billion)

4.1. Overview

4.2. House

4.3. Health

4.4. Business

4.5. Automotive

4.6. Others (Specialty, Travel, etc.)

5. Global insurance technology market, by technology, 2019-2029 (USD Billion)

5.1. Overview

5.2. IoT

5.3. Block chain

5.4. cloud computing

5.5. machine learning

5.6. Others (Robo Advisory, etc.)

6. Global insurance technology market, by services, 2019-2029 (USD Billion)

6.1. Overview

6.2. Consultant

6.3. Managed Services

6.4. Support & Maintenance

7. Global insurance technology market, by end use, 2019-2029 (USD Billion)

7.1. Overview

7.2. OSFI

7.3. Retail

7.4. Automotive

7.5. Government

7.6. Health care

7.7. Others (Transportation, Manufacturing, etc.)

For more information on this report, visit https://www.researchandmarkets.com/r/4ke3r7

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220309005693/en/

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