What are the Trends in Internet of Things (IoT) Insurance Market ? Gaining a Strong Foothold in the Insurance Tech Market with Key Players - IBM Corporation, Accenture, Cognizant, Oracle Corporation, Zonoff Inc, Capgemini

Internet of Things (IoT) Insurance offers an opportunity for insurers to partner with policyholders with a full view of the policyholder, it minimizes risk in real time and lowers the claims payouts for the insurer and provides a deep level of satisfaction to the policyholders. The Internet of Things (IoT) market and the smart city market is showing rapid growth. Thus, demand IoT insurance is increasing rapidly. Using IoT insurance, the insurers can utilize the data derived from all types of devices as well as external sources, such as weather data and provide the best level of protection possible for their policyholders.

The global Internet of Things (IoT) Insurance market is expected to grow at USD 9 Billion by 2022, at 33% of CAGR between 2016 and 2022.

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The growth in inclination towards IoT and increased demand for IoT-based devices in insurance industry majorly drive the IoT insurance market. Further, growth in practice of cloud computing in insurance sector and improved insurance service owing to adoption of IoT also propel the market toward growth. Complex communication standards and privacy of the data majorly restrain the market. Development of new insurance model based on smart devices, growth in need to insure the devices such as smart automobiles, and analytics based on data provided by IoT devices for improvement of business creates sufficient opportunities in the IoT insurance market. However, lack of customer engagement, unawareness of benefits of IoT devices, and unavailability of skills to handle IoT devices are major challenges for the IoT insurance market.

This report studies the global Internet of Things (IoT) Insurance market, analyzes and researches the Internet of Things (IoT) Insurance development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like
IBM Corporation (U.S.)
Accenture (Ireland)
Cognizant (U.S.)
Oracle Corporation (U.S)
Zonoff Inc (U.S.)
Capgemini (France)
SAP SE (Germany)
LexisNexis (U.S.)
Lemonade Inc (U.S.)
Hippo Insurance (U.S.)

By Insurance Type
~Property & Casualty Insurance
~Health Insurance
~Life Insurance
~Other Insurance

By Insurance Application
~Automotive & Transportation
~Home & Commercial Building
~Life & Health
~Business & Enterprise
~Consumer Electronics & Industrial Machines
~Travel
~Agriculture

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