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2022 Insurtech Market Latest Trends and Future Scope with Top Key Players Analysis by 2031
Insurtech Market
The regions covered in the Insurtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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The insurtech market consists of sales of insurtech solutions and services by entities (organizations, sole traders, and partnerships) that integrate the traditional insurance industry with modern technologies. The term insurtech refers to the application of technological innovations to extract cost and efficiency from the current insurance industry model. Insurtech intends to collect information from a variety of sources, including automotive GPS tracking and activity trackers on wristwatches. The information gathered can be utilized to create more precisely defined risk groups, allowing for more competitive pricing of products.
Key competitors in the Insurtech market include Quantemplate Limited, Oscar Health, Shift Technologies Inc, ZhongAn, Trov Inc., Neos, Acko General Insurance, Lemonade Inc., Metromile Inc., Damco Group, DXC Technology, Insurance Technology Services, Majesco, Bauxy, Anorak Technologies, Moonshot-Internet, and KFin Technologies Private Limited.
The global insurtech service market size is expected to grow from $8.07 billion in 2021 to $10.42 billion in 2022 at a compound annual growth rate (CAGR) of 29.2%. The change in the insurtech market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The insurtech service market is expected to reach $29.75 billion in 2026 at a CAGR of30%.
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TBRC’s report segments the global Insurtech market:
1) By Product: Health Insurance, Life Insurance, Travel Insurance, Car Insurance, Business Insurance, Home Insurance, Others
2) By Technology: Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, Others
3) By Offering: Solutions, Services
4) By Deployment: On-Premise, Cloud
5) By Application: Automotive Industry, Banking and Financial Services, Government Sector, Healthcare Industry, Manufacturing Industry, Retail Industry, Others
Read further on the Insurtech market here:
https://www.thebusinessresearchcompany.com/report/insurtech-global-market-report
The Table of Contents includes:
1. Executive Summary
2. Insurtech Market Characteristics
3. Insurtech Market Trends And Strategies
4. Impact Of COVID-19 On Insurtech Market
5. Insurtech Market Size And Growth
.....
27. Insurtech Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Insurtech Market
29. Insurtech Market Future Outlook And Potential Analysis
30. Appendix
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