AI in Insurance Market 2020: Market Value Will Grow Upto US$ 16.5 Bn and 23.5% of CAGR by 2027 | Know the Impact Analysis of Corona-virus/COVID19

The AI in Insurance Market Ecosystem is Expected to Grow at a CAGR of 23.5% by 2027.
The ripple effect of Coronavirus-COVID19 on the AI in Insurance Market Ecosystem needs to become part of strategy discussions to emerge strong. The Analyst team is meticulously tracking the impact and relevance to all the sectors in the AI in Insurance Market. Key datasets include Revenue Impact analysis, Disruptions and New opportunities in the Supply Chain, Revised Vendor Landscape Mix, New opportunities mapping, and more.

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AI in Insurance Market is disrupting every phase in the value chain of insurance including virtual agent and chatbots that provide customized product recommendations and manage customer service inquiries. It also makes automated claims processing and claims estimates more quickly and accurately. According to AllTheResearch, the global AI in Insurance Market will see substantial growth by USD 16.5 billion in 2023. AI Insurance is expanding at a faster rate to a wider range of countries. Insurance companies like Insurify, Ccc, Lemonade, Zest finance, Clear cover, and Fly reel have already started using AI technology in Insurance claim, payments, and recommendations.

Market Segmentation:
Following Top Key players are profiled in this Market Study:
AIA Group Ltd, AIG, Allianz SE, AXA, Berkshire Hathaway and more...

By Application: Chatbots & Virtual Assistance,Fraud Detection,Customer Relationship Management, Cybersecurity,Payment Gateways,Financial Transactions, Others.

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REGIONAL ANALYSIS OF AI IN INSURANCE MARKET ECOSYSTEM
At the regional level, EMEA recorded moderate growth in the Property and Casualty Insurance (P&C) and health insurance segments. Growth in the American region has been characterized by strong progress in the health insurance segment and moderate growth in the P&C segment. Life insurance is expected to be a bit unpredictable, owing to changes in US regulations. On the other hand, in APAC, the insurance industry grew in all three segments in 2019, with the health insurance segment generating a double-digit growth.
In the life insurance segment, most regions, except the Americas and Western Europe, noticed growth in 2019, but the extent of the growth, as well as the factors responsible for it, varied by region. It is observed that since 2018, Asian countries such as China, Hong Kong, and India have achieved the strongest gains in life insurance segment. Property & casualty insurance has remained stable over the past five years, growing at a rate of 4-5%. It is also expected to grow at 4.2% for the year 2020. At the regional level, the APAC region accounts for only 23%. The P&C insurance market has been the key driver of growth, growing at an average rate of 9% per annum (p.a.) and is estimated to grow even faster in the future.

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Table of Content:
Ecosystem Report - Table of Content
1. Introduction
1. Global AI in Insurance Market Ecosystem Definition
2. Scope of study
2. Executive Summary
1. Global Market Segmentation
AI in Insurance Market Ecosystem Positioning
1. Global AI in Insurance Market Ecosystem Snapshot

2. Global AI in Insurance Market Ecosystem Segmentation
1. By Component
AI in Insurance Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
1. Global AI in Insurance Market Ecosystem Sizing & Volume
1. Cross-segmentation
And More...

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This release was published on openPR.