At a CAGR of 32.7% Insurtech Market Size is Projected to Reach $158.99 Billion by 2030

Insurtech is the emergence of new technologies engages in transforming the insurance industry, reducing costs for consumers & insurance companies, and enhancing better customer experience. With an implementation of Insurtech, customers can research, compare policies, and make a purchase online without having to physically visit a local agent. Moreover, Insurtech companies have streamlined process of buying all types of insurance with easier & convenient options. 

INTRODUCTION TO REPORT

According to a recent report published by Allied Market Research, titled, “Insurtech Market by Offering, Deployment Model, Technology, End User, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global Insurtech market size was valued at $9.41 billion in 2020, and is projected to reach $158.99 billion by 2030, growing at a CAGR of 32.7% from 2021 to 2030. 

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NEED FOR THE REPORT:

The current situation of pandemic makes it very important for the stakeholders in the Insurtech Market size to understand the market deeply, which will help them in taking sound decisions to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.

KEY SEGMENTATION:

Segregating the large problem into smaller parts makes it easy to solve even the complex problems. Similarly, to analyze the Insurtech Market effectively and efficiently, the market has been segmented into, type, applications, and region. The related graphs and data tables have made the analysis much impactful and easily understandable. The interested parties can surely rip the benefits of the report on the Insurtech Market.

KEY MARKET PLAYERS:

The report offers a competitive analysis in the report, in which, the performance of the competitors in past, the revenue, and strategies framed are analyzed in detail. The key players in Insurtech Market are Damco Group, DXC Technology Company, Majesco, Oscar Insurance, OutSystems, Quantemplate, Shift Technology, Trov Insurance Solutions, LLC, Wipro Limited, and Zhongan Insurance.

The competitors’ analysis will be helpful for new entrants to frame the profitable strategies that will help them gain the market share and achieve the objective of wealth maximization.

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KEY BENEFITS FOR STAKEHOLDERS

  • This study includes the Insurtech Market analysis, trends, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and Insurtech Market opportunity.
  • The market size is quantitatively analyzed from 2019 to 2030 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Insurtech Market.

Key market segments

By Offering

  • Solution
  • Service

By Deployment Model

  • On-premise 
  • Cloud

By Technology

  • Artificial Intelligence
  • Cloud Computing
  • Blockchain
  • Big Data & Business Analytics
  • IoT
  • Others  

By End User

  • Life & Health Insurance
  • Property and Casualty (P&C) Insurance
    • Auto Insurance
    • Buildings Insurance
      • Commercial Buildings Insurance
      • Home Insurance
        • Dwelling Coverage
        • Contents Coverage
    • Marine Insurance
    • Liability Insurance
    • Others

By Application

  • Product Development & Underwriting
  • Sales & Marketing
  • Policy Admin Collection & Disbursement
  • Claims Management

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • The Netherlands
    • Rest of Europe
  • Asia-Pacific 
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Rest of Asia-Pacific   
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

ABOUT US

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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