AI in Auto Insurance Market Size and Share, Business Opportunities, Regional Demand, Revenue and Key Manufacturers Forecast to 2027

The AI in auto insurance market size expected to reach US$ 5,460.88 Mn by 2027, registering at a CAGR of 20.5% during the forecast period of 2019 to 2027, according to a new research study conducted by The Insight Partners.The research report provides deep insights into the global market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of AI in Auto Insurance market during the forecast period, i.e., 2019-2027. Most importantly, the report further identifies the qualitative impact of various market factors on market segments and geographies. The research segments the market on the basis of product type, application, technology, and region. To offer more clarity regarding the industry, the report takes a closer look at the current status of various factors including but not limited to supply chain management, niche markets, distribution channel, trade, supply, and demand and production capability across different countries.

To get sample Copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/sample/TIPRE00006900/?utm_source=OpenPR&utm_medium=10212

The global auto industry is going through a shift with technological advancements happening in the electric vehicle and autonomous vehicle sector. There are few technology trends where AI can help insurance companies and brokers make profits by integrating technology in their present product and service portfolio. Some of these major trends include behavioral policy pricing, personalization of customer experience & coverage, and customized claim settlement. With increasing number of IoT (internet of Things) enabled devices with various among customers, the opportunity to offer personalized services is growing at a fast pace. Customized coverage or on-demand insurance is another benefit through which customers get custom coverage for some specific events/items. With the help of virtual claim adjusters and online interfaces, artificial intelligence help customers in settling the claims faster and efficiently. Thus, upcoming applications of artificial intelligence in the auto insurance industry, the AI in auto insurance market is anticipated see tremendous growth during the forecast period of 2019 to 2027.

The Prominent Players are:

•Ant Financial Services Group Co., Ltd.
•CCC Information Services Inc.
•Claim Genius Inc.
•Clearcover, Inc.
•Microsoft Corporation
•GEICO
•ICICI Lombard General Insurance Company Limited.
•Nauto, Inc.
•Solaria Labs (Liberty Mutual Insurance)
•The Progressive Corporation

The research provides answers to the following key questions:

1.What is the estimated growth rate of the market for the forecast period 2019-2027? What will be the market size during the estimated period?
2.What are the key driving forces responsible for shaping the fate of the AI in Auto Insurance market during the forecast period?
3.Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the AI in Auto Insurance market?
4.What are the prominent market trends influencing the development of the AI in Auto Insurance market across different regions?
5.What are the major threats and challenges likely to act as a barrier in the growth of the AI in Auto Insurance market?
6.What are the major opportunities the market leaders can rely on to gain success and profitability?

Inquiry Before Buying @ https://www.theinsightpartners.com/inquiry/TIPRE00006900/?utm_source=OpenPR&utm_medium=10212

The AI in auto insurance market has been derived from market trends and revenue generation factors from five different regions across the globe namely; North America, Europe, Asia Pacific, MEA, and SAM. In the current automotive insurance industry, AI in auto insurance is at a nascent stage, as very few countries have adopted the technology heavily. Geographically, the market is dominated by Europe. The region's growth is rapidly driven by robust automotive industry and demand for wireless & connectivity technologies. The dominance of Europe in the global market is due to the fact that, the country houses a large number of automotive OEMs, telematics companies, and insurance companies. Additionally, the trend of adoption of newer technologies and solutions is also high in the country, which has pushed the residents to opt for AI in auto insurance. The Asia Pacific is estimated to be the fastest growing region in the global AI in auto insurance market during the forecast period from 2019 - 2027. This is majorly due to the significant adoption of the same in countries such as China, Singapore, India, Malaysia, and Japan among others. The number of vehicles in the countries are constantly increasing, and the adoption of auto insurance is also rising in the current scenario.

The global auto industry is going through a shift with technological advancements happening in the electric vehicle and autonomous vehicle sector. With increasing safety features and driverless technology, it is anticipated that the auto insurance industry may shrink substantially in the coming years. The auto insurance industry contributes a large chunk to the global insurance industry and it is crucial for auto insurance companies to focus on product and service innovations in order to sustain profits during the forecast period of 2019 to 2027. There are few technology trends where AI can help insurance companies and brokers make profits by integrating technology in their present product and service portfolio. Some of these major trends include behavioral policy pricing, personalization of customer experience & coverage, and customized claim settlement. With increasing number of IoT (internet of Things) enabled devices with various among customers, the opportunity to offer personalized services is growing at a fast pace. Behavioral policy pricing make use of personal data collected by these IoT sensors in pricing platforms.

Our reports will help clients solve the following issues: -

Insecurity about the future:

Our research and insights help our clients anticipate upcoming revenue compartments and growth ranges. This will help our clients invest or divest their assets.

Understanding market opinions:

It is extremely vital to have an impartial understanding of market opinions for a strategy. Our insights provide a keen view on the market sentiment. We keep this reconnaissance by engaging with Key Opinion Leaders of a value chain of each industry we track.

Understanding the most reliable investment centers:

Our research ranks investment centers of market by considering their future demands, returns, and profit margins. Our clients can focus on most prominent investment centers by procuring our market research.

Evaluating potential business partners:

Our research and insights help our clients identify compatible business partners.
AI in Auto Insurance Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America

Buy Now @ https://www.theinsightpartners.com/buy/TIPRE00006900/?utm_source=OpenPR&utm_medium=10212

Contact Us:

If you have any queries about this report or if you would like further information, please

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.