Big Data in the Insurance Industry: 2018 - 2030 - Opportunities, Challenges, Strategies & Forecasts

ResearchMoz presents Professional and In-depth Study of "Big Data in the Insurance Industry: 2018 - 2030 - Opportunities, Challenges, Strategies & Forecasts" with coming years Industries Trends, Projections of Global Growth, Major Key Player and Case Study, Review, Share, Size, Effect.
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“Big Data” originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.

Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The insurance industry is no exception to this trend, where Big Data has found a host of applications ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
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SNS Telecom & IT estimates that Big Data investments in the insurance industry will account for more than $2.4 Billion in 2018 alone. Led by a plethora of business opportunities for insurers, reinsurers, insurance brokers, InsurTech specialists and other stakeholders, these investments are further expected to grow at a CAGR of approximately 14% over the next three years.

The “Big Data in the Insurance Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an in-depth assessment of Big Data in the insurance industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2018 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 8 application areas, 9 use cases, 6 regions and 35 countries.

The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.

Topics Covered

The report covers the following topics:
- Big Data ecosystem
- Market drivers and barriers
- Enabling technologies, standardization and regulatory initiatives
- Big Data analytics and implementation models
- Business case, application areas and use cases in the insurance industry
- 20 case studies of Big Data investments by insurers, reinsurers, InsurTech specialists and other stakeholders in the insurance industry
- Future roadmap and value chain
- Profiles and strategies of over 270 leading and emerging Big Data ecosystem players
- Strategic recommendations for Big Data vendors and insurance industry stakeholders
- Market analysis and forecasts from 2018 till 2030

Forecast Segmentation

Market forecasts are provided for each of the following submarkets and their subcategories:
Hardware, Software & Professional Services
- Hardware
- Software
- Professional Services

Horizontal Submarkets
- Storage & Compute Infrastructure
- Networking Infrastructure
- Hadoop & Infrastructure Software
- SQL
- NoSQL
- Analytic Platforms & Applications
- Cloud Platforms
- Professional Services

Application Areas
- Auto Insurance
- Property & Casualty Insurance
- Life Insurance
- Health Insurance
- Multi-Line Insurance
- Other Forms of Insurance
- Reinsurance
- Insurance Broking
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Use Cases
- Personalized & Targeted Marketing
- Customer Service & Experience
- Product Innovation & Development
- Risk Awareness & Control
- Policy Administration, Pricing & Underwriting
- Claims Processing & Management
- Fraud Detection & Prevention
- Usage & Analytics-Based Insurance
- Other Use Cases

Regional Markets
- Asia Pacific
- Eastern Europe
- Latin & Central America
- Middle East & Africa
- North America
- Western Europe

Country Markets

Argentina, Australia, Brazil, Canada, China, Czech Republic, Denmark, Finland, France, Germany,  India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Pakistan, Philippines, Poland, Qatar, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, UAE, UK,  USA

Key Questions Answered

The report provides answers to the following key questions:
- How big is the Big Data opportunity in the insurance industry?
- How is the market evolving by segment and region?
- What will the market size be in 2021, and at what rate will it grow?
- What trends, challenges and barriers are influencing its growth?
- Who are the key Big Data software, hardware and services vendors, and what are their strategies?
- How much are insurers, reinsurers, InsurTech specialists and other stakeholders investing in Big Data?
- What opportunities exist for Big Data analytics in the insurance industry?
- Which countries, application areas and use cases will see the highest percentage of Big Data investments in the insurance industry?

Key Findings

The report has the following key findings:
- In 2018, Big Data vendors will pocket more than $2.4 Billion from hardware, software and professional services revenues in the insurance industry. These investments are further expected to grow at a CAGR of approximately 14% over the next three years, eventually accounting for nearly $3.6 Billion by the end of 2021.
- Through the use of Big Data technologies, insurers and other stakeholders are beginning to exploit their data assets in a number of innovative ways ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
- The growing adoption of Big Data technologies has brought about an array of benefits for insurers and other stakeholders. Based on feedback from insurers worldwide, these include but are not limited to an increase in access to insurance services by more than 30%, a reduction in policy administration workload by up to 50%, prediction of large loss claims with an accuracy of nearly 80%, cost savings in claims processing and management by 40-70%, accelerated processing of non-emergency insurance claims by a staggering 90%; and improvements in fraud detection rates by as much as 60%.
- In addition, Big Data technologies are playing a pivotal role in facilitating the adoption of on-demand insurance models – particularly in auto, life and health insurance, as well as the insurance of new and underinsured risks such as cyber crime.

List of Companies Mentioned
- 1010data
- Absolutdata
- Accenture
- Actian Corporation
- Adaptive Insights
- Adobe Systems
- Advizor Solutions
- Aegon
- AeroSpike
- Aetna
- AFS Technologies
- Alation
- Algorithmia
- Allianz Group
- Allstate Corporation
- Alluxio
- Alphabet
- ALTEN
- Alteryx
- AMD (Advanced Micro Devices)
- Anaconda
- Apixio
- Arcadia Data
- Arimo
- Arity
- ARM
- ASF (Apache Software Foundation)
- Atidot
- AtScale
- Attivio
- Attunity
- Automated Insights
- AVORA
- AWS (Amazon Web Services)
- AXA
- Axiomatics
- Ayasdi
- BackOffice Associates
- Basho Technologies
- BCG (Boston Consulting Group)
- Bedrock Data
- BetterWorks
- Big Panda
- BigML
- Birst
- Bitam
- Blue Medora
- BlueData Software
- BlueTalon
- BMC Software
- BOARD International
- Booz Allen Hamilton
- Boxever
- CACI International
- Cambridge Semantics
- Cape Analytics
- Capgemini
- Cazena
- Centrifuge Systems
- CenturyLink
- Chartio
- China Life Insurance Company
- Cigna
- Cisco Systems
- Civis Analytics
- ClearStory Data
- Cloudability
- Cloudera
- Cloudian
- Clustrix
- CognitiveScale
- Collibra
- Concirrus
- Concurrent Technology
- Confluent
- Contexti
- Couchbase
- Crate.io
- Cray
- CSA (Cloud Security Alliance)
- CSCC (Cloud Standards Customer Council)
- Dai-ichi Life Holdings
- Databricks
- Dataiku
- Datalytyx
- Datameer
- DataRobot
- DataStax
- Datawatch Corporation
- Datos IO
- DDN (DataDirect Networks)
- Decisyon
- Dell Technologies
- Deloitte
- Demandbase
- Denodo Technologies
- Dianomic Systems
- Digital Reasoning Systems
- Dimensional Insight
- DMG  (Data Mining Group)
- Dolphin Enterprise Solutions Corporation
- Domino Data Lab
- Domo
- Dremio
- DriveScale
- Druva
- Dundas Data Visualization
- DXC Technology
- Elastic
- Engineering Group (Engineering Ingegneria Informatica)
- EnterpriseDB Corporation
- eQ Technologic
- ERGO Group
- Ericsson
- Erwin
- EV? (Big Cloud Analytics)
- EXASOL
- EXL (ExlService Holdings)
- Facebook
- FICO (Fair Isaac Corporation)
- Figure Eight
- FogHorn Systems
- Fractal Analytics
- Franz
- Fujitsu
- Fuzzy Logix
- Gainsight
- GE (General Electric)
- Generali Group
- Glassbeam
- GNS Healthcare
- GoodData Corporation
- Google
- Grakn Labs
- Greenwave Systems
- GridGain Systems
- Guavus
- H2O.ai
- Hanse Orga Group
- HarperDB
- HCL Technologies
- Hedvig
- Hitachi Vantara
- Hortonworks
- HPE (Hewlett Packard Enterprise)
- Huawei
- HVR
- HyperScience
- HyTrust
- IBM Corporation
- iDashboards
- IDERA
- IEC (International Electrotechnical Commission)
- IEEE (Institute of Electrical and Electronics Engineers)
- Ignite Technologies
- Imanis Data
- Impetus Technologies
- INCITS (InterNational Committee for Information Technology Standards)
- Incorta
- InetSoft Technology Corporation
- InfluxData
- Infogix
- Infor
- Informatica
- Information Builders
- Infosys
- Infoworks
- Insightsoftware.com
- InsightSquared
- Intel Corporation
- Interana
- InterSystems Corporation
- ISO (International Organization for Standardization)
- ITU (International Telecommunication Union)
- Jedox
- Jethro
- Jinfonet Software
- JMDC Corporation
- Juniper Networks
- KALEAO
- Keen IO
- Kenko-Nenrei Shogaku Tanki Hoken
- Keyrus
- Kinetica
- KNIME
- Kognitio
- Kyvos Insights
- LeanXcale
- Lexalytics
- Lexmark International
- Lightbend
- Linux Foundation
- Logi Analytics
- Logical Clocks
- Longview Solutions
- Looker Data Sciences
- LucidWorks
- Luminoso Technologies
- Maana
- Manthan Software Services
- MapD Technologies
- MapR Technologies
- MariaDB Corporation
- MarkLogic Corporation
- Mathworks
- MEAG (Munich Ergo Asset Management)
- Melissa
- MemSQL
- Metric Insights
- MetroMile
- Microsoft Corporation
- MicroStrategy
- Minitab
- MongoDB
- Mu Sigma
- Munich Re
- NEC Corporation
- Neo First Life Insurance Company
- Neo4j
- NetApp
- Nimbix
- Nokia
- Noritsu Koki
- NTT Data Corporation
- Numerify
- NuoDB
- NVIDIA Corporation
- OASIS (Organization for the Advancement of Structured Information Standards)
- Objectivity
- Oblong Industries
- ODaF (Open Data Foundation)
- ODCA (Open Data Center Alliance)
- ODPi (Open Ecosystem of Big Data)
- OGC (Open Geospatial Consortium)
- OpenText Corporation
- Opera Solutions
- Optimal Plus
- Optum
- OptumLabs
- Oracle Corporation
- Oscar Health
- Palantir Technologies
- Panasonic Corporation
- Panorama Software
- Paxata
- Pepperdata
- Phocas Software
- Pivotal Software
- Prognoz
- Progress Software Corporation
- Progressive Corporation
- Provalis Research
- Pure Storage
- PwC (PricewaterhouseCoopers International)
- Pyramid Analytics
- Qlik
- Qrama/Tengu
- Quantum Corporation
- Qubole
- Rackspace
- Radius Intelligence
- RapidMiner
- Recorded Future
- Red Hat
- Redis Labs
- RedPoint Global
- Reltio
- RStudio
- Rubrik
- Ryft
- Sailthru
- Salesforce.com
- Salient Management Company
- Samsung Fire & Marine Insurance
- Samsung Group
- SAP
- SAS Institute
- ScaleOut Software
- Seagate Technology
- Sinequa
- SiSense
- Sizmek
- SnapLogic
- Snowflake Computing
- Software AG
- Splice Machine
- Splunk
- Strategy Companion Corporation
- Stratio
- Streamlio
- StreamSets
- Striim
- Sumo Logic
- Supermicro (Super Micro Computer)
- Syncsort
- SynerScope
- SYNTASA
- Tableau Software
- Talend
- Tamr
- TARGIT
- TCS (Tata Consultancy Services)
- Teradata Corporation
- Thales
- ThoughtSpot
- TIBCO Software
- Tidemark
- TM Forum
- Toshiba Corporation
- TPC (Transaction Processing Performance Council)
- Transwarp
- Trifacta
- U.S. NIST (National Institute of Standards and Technology)
- Unifi Software
- UnitedHealth Group
- Unravel Data
- VANTIQ
- Vecima Networks
- VMware
- VoltDB
- W3C (World Wide Web Consortium)
- WANdisco
- Waterline Data
- Western Digital Corporation
- WhereScape
- WiPro
- Wolfram Research
- Workday
- Xplenty
- Yellowfin BI
- Yseop
- Zendesk
- Zoomdata
- Zucchetti
- Zurich Insurance Group

Continue.....23 Oct 18
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