Press release
Demand for Life Insurance Policy Administration Systems Market from Major End-use Sectors to Increase in the Near Future
A life insurance policy administration system is a system that provides end-to-end lifecycle management of individual, group life and pension products. Thus, it is a software that helps insurers manage life and annuity insurance policies. With the help of a life insurance policy administration system, organizations can maintain a record of the policies issued by them to clients, calculate policy costs, as well as design new policies. A life insurance policy administration system can improve the flexibility and administration of different insurance policies. Moreover, it can be implemented as a part of an integrated insurance suite or as a standalone solution.
To remain ‘ahead’ of your competitors, request for a sample here@ https://www.persistencemarketresearch.com/samples/14137
The life insurance policy administration system market is categorized on the basis of deployment type, component, policy administration category, end-user, module, and region. On the basis of deployment type, the life insurance policy administration system market is segmented into SaaS and on-premise. The revenue contribution from the SaaS segment in the life insurance policy administration system market is expected to expand at a CAGR of 13.0% during the forecast period.
Based on component, the life insurance policy administration system market is segmented into software and services. The services segment is further divided into professional services and managed services. The services segment in the life insurance policy administration system market is estimated to register a CAGR of 13.2% during the forecast period.
On the basis of policy administration, the life insurance policy administration system market is segmented into policy lifecycle, underwriting, contract changes, claim settlement, user experience, and others. The revenue contribution from the user experience segment in life the insurance policy administration system market is expected to expand at a CAGR of 13.7% during the forecast period.
For critical insights on the keyword market, request for methodology here @ https://www.persistencemarketresearch.com/methodology/14137
On the basis of end-user, the global life insurance policy administration system market is segmented into insurance companies, banks, and others. The insurance companies segment is expected to dominate the life insurance policy administration system market and enjoy a market share of 68.0% in 2018 and 70.3% in 2026.
On the basis of module, the global life insurance policy administration system market is segmented into customer relationship management, product development, training & development, business intelligence, and others. The business intelligence segment in the life insurance policy administration system market is expected to grow from US$ 560.9 Mn in 2018 to US$ 1,579.7 Mn in 2026 owing to the high CAGR associated with it.
This report also covers the trends driving each segment and offers analysis and insights regarding the potential of the life insurance policy administration system market in regions such as North America, Latin America, Europe, China, Japan, South East Asia, and the Middle East & Africa. Among these regions, Europe is projected to exhibit relatively high growth in the global life insurance policy administration system market, registering a CAGR of 15.5% over the forecast period. Revenue from the life insurance policy administration system market in North America and Europe is expected to collectively account for over 46.7% of the global life insurance policy administration system market revenue in 2018. Life insurance policy administration system market providers can focus on expanding across several countries in the China and SEA & other of APAC regions.
Contact us: 305 Broadway, 7th Floor
New York City, NY 10007 United States
Ph.no. +1-646-568-7751
E-mail id- sales@persistencemarketresearch.comWebsite: https://www.persistencemarketresearch.com
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Demand for Life Insurance Policy Administration Systems Market from Major End-use Sectors to Increase in the Near Future here
News-ID: 2219036 • Views: …
More Releases from Persistence Market Research
Frozen Foods Market Heats Up with Innovation and Growing Consumer Demand
Market Overview:
The frozen foods market consists of a wide range of products, including frozen fruits and vegetables, meat and seafood, ready-to-eat meals, and desserts. These products are preserved through freezing to maintain freshness and quality for an extended period.
Market Size and Growth:
The global market for frozen foods is forecasted to be of valuation US$ 281.0 Billion in the year 2022 which is expanding at a value CAGR of 5.1% and…
The Global Graphene Market's Striking Growth and Innovative Applications
Introduction
Graphene, a single layer of carbon atoms arranged in a hexagonal lattice, has gained global recognition for its extraordinary properties, such as exceptional electrical and thermal conductivity, mechanical strength, and flexibility. Since its isolation in 2004 by Andre Geim and Konstantin Novoselov, graphene has sparked considerable interest in both scientific and industrial communities. This report explores the current state of the graphene market and its potential growth opportunities.
Get Access To…
Business Opportunities in Cyber Security Mesh Market : Top Countries Data Analys …
Market Overview:
The projected global market size for cyber security mesh is expected to reach $8.8 billion by the year 2033, with an estimated valuation of $1.2 billion by 2023. This market is poised to experience a compound annual growth rate (CAGR) of 21.7% from 2023 to 2033.
The global Cyber Security Mesh market is poised for significant growth as organizations worldwide grapple with the escalating threat landscape. Cybersecurity has become an…
Synthetic Beta-Carotene Market To Boost Incredible Growth: 2033, Share Valuation …
Key market trends included a shift towards natural and plant-based ingredients, as consumers sought cleaner labels and healthier options. This drove the demand for naturally sourced beta-carotene, but synthetic beta-carotene still had its place due to its cost-effectiveness and consistency in production. The market was also influenced by regulatory changes and evolving dietary preferences, which affected the application and formulation of synthetic beta-carotene in various products.
To obtain the latest market…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
