Press release
Global Insurance Technology Market 2019- Industry Leading Players IBM, Microsoft, Accenture, Oracle, By Miles, Yolo, Zego, Insurance Technology Services, Patriot Technology Solutions., Techinsurance, Seibels, DXC Technology and others to 2025
Global Insurance Technology Market
The insurance industry continues to face challenges, given the pervasive nature of insurance fraud and the inability to account for unforeseen costs, forcing them to spend further capital on reinsurance policies. As the pressure on insurance companies to reduce costs and acquire new customer’s increases, there is a shift in focus towards data, analytics, and customer acquisition and retention tools and comes Insurance technology in Trend.
This growth is attributed to the growing adoption of Internet of Things (IoT) products, rise in the shift of insurers' focus from product-based strategies to customer-centric strategies, and increased awareness among insurers to digitalize channels.
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Major Players:
The industry is seeming to be fairly competitive. Some of the leading market players include IBM, Microsoft, Accenture, Oracle, By Miles, Yolo, Zego, Insurance Technology Services, Patriot Technology Solutions., Techinsurance, Seibels, DXC Technology, Marias Technology, MSG Life, Hubio, Ventiv, Majesco-et-al and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers.
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Market Segmentation:
The regional analysis of Global Insurance Technology Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. As per regional Analysis North America is expected to account for the largest market size and dominate the digital insurance
platform market from 2018 to 2025.
By Component:
• Tools
• Services
By End User:
• Insurance Companies
• Third Party Administration and Brokers
• Aggregators
This region has a high concentration of large insurance companies, which largely contribute to the digital insurance platform market. However, the Asia Pacific (APAC) region is expected to provide opportunities for digital insurance platform services providers. These growth opportunities can be attributed to the increasing commercial investments by several companies in the APAC region.
By Regions:
• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World
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