openPR Logo
Press release

Insurtech Market to Garner $158.99 Billion by 2030 | At 32.7% CAGR

08-23-2021 07:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Insurtech Market

Insurtech Market

Major determinants of the market growth

Rise in digitalization of business models, saturation of the insurance industry, and growth and consolidation of internet technologies have boosted the growth of the global insurtech market. However, privacy & transparency concerns and changes to legal & regulatory framework hinder the market growth. On the contrary, rapid growth in incorporation of new technologies and untapped potential of emerging economies are expected to open new opportunities for the market players in the future.

Allied Market Research recently published a report, titled, "Insurtech Market by Offering (Solution and Service), Deployment Model (On-premise and Cloud), Technology (Artificial Intelligence, Cloud Computing, Blockchain, Big Data & Business Analytics, IoT, and Others), End User (Life & Health Insurance and Property and Casualty (P&C) Insurance), and Application (Product Development & Underwriting, Sales & Marketing, Policy Admin Collection & Disbursement, and Claims Management): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global insurtech industry was pegged at $9.41 billion in 2020, and is estimated to generate $158.99 billion by 2030, growing at a CAGR of 32.7% from 2021 to 2030.

Download Report Sample (480+ Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/12738

The report analyses top Insurtech market players such as Damco Group, DXC Technology Company, Majesco, Oscar Insurance, OutSystems, Quantemplate, Shift Technology, Trov Insurance Solutions, LLC, Wipro Limited, and Zhongan Insurance. These players have adopted various strategies to increase their market penetration and strengthen their position in the Insurtech industry.

Key benefits for stakeholders

• The study provides in-depth analysis of the global Insurtech market share along with current & future trends to illustrate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the global insurance technology market size are provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Insurtech market.
• An extensive analysis of the key segments of the industry helps to understand the Insurtech market trends.
• The quantitative analysis of the global Insurtech market forecast from 2021 to 2030 is provided to determine the market growth potential.

By offering, the service segment would register the highest CAGR of 33.6% during the forecast period, as it processes and improves effectiveness to meet customers demand. However, the solution segment held the largest share in 2020, accounting for more than three-fourths of the global insurtech market, due to rise in implementation of solutions by insurance companies with excellent technology capabilities to enhance business operations.

Get detailed COVID-19 impact analysis on the Insurtech Market @ https://www.alliedmarketresearch.com/request-for-customization/12738?reqfor=covid

Covid-19 scenario:

The Covid-19 pandemic positively affected the insurtech market due to sudden increase in need for insurance policies including health insurance, home insurance, and personal insurance among customers.
The utilization of advanced technological solutions among insurance carriers increased across the globe during the pandemic to offer advanced tech-based services to customers. This increased the demand for insurtech solutions.
The service segment to portray the highest CAGR through 2028

The on-premise segment held the lion's share

By deployment model, the on-premise segment dominated the market in terms of revenue in 2020, contributing nearly three-fifths of the global insurtech market, as it offers full control over the whole infrastructure, including software & hardware. However, the cloud segment is projected to register the highest CAGR of 34.5% from 2021 to 2030, due to the need to reduce infrastructure investment and rise in investment in cloud technology.

North America dominated the market in terms of revenue

By region, the global insurtech market across North America held the largest share in 2020, contributing to nearly three-fifths of the market, due to increased adoption of insurtech among insurance companies and surge in partnership of insurtech companies with traditional insurers. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 36.7% during the forecast period, owing to increase in adoption and investment in insurtech to boost business efficiency, lower compliance risk exposure, and improve claim settlement process in the region.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/12738

Key market segments
By Offering
• Solution
• Service
By Deployment Model
• On-premise
• Cloud
By Technology
• Artificial Intelligence
• Cloud Computing
• Blockchain
• Big Data & Business Analytics
• IoT
• Others
By End User
• Life & Health Insurance
• Property and Casualty (P&C) Insurance
o Auto Insurance
o Buildings Insurance
 Commercial Buildings Insurance
 Home Insurance
 Dwelling Coverage
 Contents Coverage
o Marine Insurance
o Liability Insurance
o Others
By Application
• Product Development & Underwriting
• Sales & Marketing
• Policy Admin Collection & Disbursement
• Claims Management
By Region
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o The Netherlands
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa

Read More at https://www.alliedmarketresearch.com/insurtech-market-A12373

CONTACT US:

David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

ABOUT US:

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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 Insurtech Market to Garner $158.99 Billion by 2030 | At 32.7% CAGR here

News-ID: 2363002 • Views: 485

More Releases from Allied Market Research

Fantasy Sports Market in Asia-Pacific & Canada is Expected to Reach $3,739.8 Mil …
According to a new report published by Allied Market Research, titled, “Asia-Pacific & Canada Fantasy Sports Market by Sports Type, Platform, and Demographic: Regional Opportunity Analysis and Industry Forecast, 2021–2027,” Asia-Pacific & Canada fantasy sports market size was valued at $2,021.9 million in 2019, and is projected to reach $3,739.8 million by 2027, growing at a CAGR of 10.7% from 2021 to 2027. Fantasy sport is played using internet where participants
Hammock Market Size Is Projected Reach $639.8 Million By 2030, Registering At A …
Surge in hiking and adventure tourism, rise in demand from residential segment, and expansion of hospitality industry drive the growth of the global hammock market. North America contributed to the highest share in terms of revenue in 2020. The outbreak of the COVID-19 pandemic has resulted in transition of consumers toward online sales channels to purchase campaigning gear products including hammocks. According to the report published by Allied Market Research, the
Cotton Personal-Care Product Market 2021: Top Factors That Are Leading The Deman …
A lead analyst at AMR highlighted the market across Europe region is expected to dominate in terms of revenues throughout the forecast period. Allied Market Research published a research report on the Cotton personal-care product market. The findings of the report states that the global market for Cotton personal-care product is expected to reach $19.15 billion by 2028, manifesting a CAGR of 4.6% from 2020 to 2028. The report provides valuable
Global Football Sportswear Market Growing Trade Among Emerging Economies Opening …
As per the report published by Allied Market Research, the global football sportswear market is estimated to reach $114.41 billion by 2027, growing at a CAGR of 5.3% from 2021 to 2027. The report highlights market characteristics, market potential, and growth by segmentation, and competitive landscape. Rise in sportswomen, surge in participation in football, and development in sportswear drive the growth of the global football sportswear market. Access Full Summary: https://www.alliedmarketresearch.com/football-sportswear-market-A09835 Chinese companies

All 5 Releases


More Releases for Insurance

Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market
Non-Life Insurance Market :Health Insurance, Property Insurance, Cargo Insurance …
Non-Life Insurance Market Overview: Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Non-Life Insurance market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region. Get Access to Report Sample: http://bit.ly/2Q9Hd8z Non-Life Insurance market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been
Insurance Company Profile-Hastings Insurance
Insurance Company Profile: Hastings Insurance Summary "Insurance Company Profile: Hastings Insurance", profile provides a comprehensive review of the company and its UK business. This includes its strategy for growth and focus on digitization as well as its performance in the UK and marketing and distribution strategy. Hastings Group is a general insurance provider in the UK offering car, van, bike, and home insurance products. It operates through two subsidiaries: Hastings Insurance Services and
Landlord Insurance Market: Allianz, NRMA Insurance, QBE, Travelers Insurance, AA …
MarketResearchReports.Biz adds “Global Landlord Insurance Market Share, Size, Trends and Forecast Market Research Report” reports to its database. This report provides a strategic analysis of the Landlord Insurance market and the growth estimates for the forecasted period. The main objective of this report is to aid the user in understanding the market as a whole, its definitions, segmentation, market potential, influential trends, and the barriers that it is facing. Meticulous research
Insurance Market-Saga’s Retail Broking Business Offers Motor Insurance, Pet In …
Orbis Research Market brilliance released a new research report of 33 pages on title ‘Insurance Company Profile: Saga’ with detailed analysis, forecast and strategies. Insurance Company Profile: Saga", profile provides a comprehensive review of Saga and its UK business. This includes its strategy for growth and focus on digitization as well as its performance in the UK and marketing and distribution strategy. Request a sample of this report at http://orbisresearch.com/contacts/request-sample/2026595 Saga
Insurance Market Behaviour & Health Insurance
Professor Howard Bolnick, who taught at the Kellogg School of Management for 13 years and is an international authority on Healthcare will be teaching an intensive 5 days Executive Development Programme on Insurance Market Behaviour & Health Insurance, Organized by the Insurance Foundation of India (IFI). Professor Howard Bolnick, who taught at the Kellogg School of Management for 13 years and is an international authority on Healthcare will be teaching an