Insurtech Market Growth Breakdown Data of Leading Vendors 2018-2023: Friendsurance, Guevara, Oscars, Zhong An, Acculitx, Allay, Analyze Re, Array Health, BankBazaarcom, Bayzat, Bought By Many, Censio, Claim Di, Collective Health, Common Easy

Insurtech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is a portmanteau of "insurance" and "technology" that was inspired by the term fintech. The belief driving insurtech companies is that the insurance industry is ripe for innovation and disruption. Insurtech is exploring avenues that large insurance firms have less incentive to exploit, such as offering ultra-customized policies, social insurance, and using new streams of data from internet-enabled devices to dynamically price premiums according to observed behavior.

Traditionally, broad actuarial tables are used to assign policy seekers to a risk category. The group is then adjusted so enough people are lumped together to ensure that, overall, the policies are profitable for the company. This approach does, of course, result in some people paying more than they should based on the basic level of data used to group people. Among other things, insurtech is looking to tackle this data and analysis issue head on. Using inputs from all manners of devices, including GPS tracking of cars to the activity trackers on our wrists, these companies are building more finely delineated groupings of risk, allowing products to be priced more competitively. In addition to better pricing models, insurtech startups are testing the waters on a host of potential game changers. These include using deep learning trained artificial intelligence (AI) to handle the tasks of brokers and find the right mix of policies to complete an individual's coverage. There is also interest in the use of apps to pull disparate policies into one platform for management and monitoring, creating on-demand insurance for micro-events like borrowing a friend's car, and the adoption of the peer-to-peer model to both create customized group coverage and incentivize positive choices through group rebates.

Key Brands mentioned in this report – Friendsurance, Guevara, Oscars, Zhong An, Acculitx, Allay, Analyze Re, Array Health, BankBazaarcom, Bayzat, Bought By Many, Censio, Claim Di, Collective Health, Common Easy, CoverFox, CoverHound, Cuvva, Dynamis Software, EaseCentral

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Segmentation by product type:
Cloud Computing
Big data and Analytics
Mobility
Block Chain
Artificial Intelligence
IoT

Segmentation by application:
Commercial P&C insurance
Personal P&C insurance
Health and medical insurance
Life and accident insurance
Insurance administration and risk consulting
Annuities

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Research objectives -
 To study and analyze the global Insurtechmarket size by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
 To understand the structure of Insurtechmarket by identifying its various subsegments.
 Focuses on the key global Insurtechplayers, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
 To analyze the Insurtechwith respect to individual growth trends, future prospects, and their contribution to the total market.
 To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
 To project the size of Insurtechsubmarkets, with respect to key regions (along with their respective key countries).
 To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
 To strategically profile the key players and comprehensively analyze their growth strategies.

Table of Contents –
1 Scope of the Report
2 Executive Summary
3 Insurtech Key Players
4 Insurtech by Regions
5 Americas
6 APAC
7 Europe
8 Market Drivers, Challenges and Trends
9 Key Investors in Insurtech
10 Key Players Analysis

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