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In-depth Analysis of the Online Insurance Market Forecast Along with Current & Future Trends to Explain the Imminent Investment Pockets. 2032
Allied Market Research published a report on online insurance market which states, "Online Insurance Market by Enterprise Size (Large Enterprises, SMEs), by Insurance type (Life Insurance, Motor Insurance, Health Insurance, Others), by End User (Insurance Companies, Aggregators, Third Party Administrators and Brokers): Global Opportunity Analysis and Industry Forecast, 2021-2031"
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As per the report, the global online insurance market was valued at $53.2 billion in 2021, and is projected to reach $330.1 billion by 2031, growing at a CAGR of 20.2% from 2022 to 2031.
The main forces influencing the growth of the global online insurance market are examined in the report. Factors such as the increase in internet penetration and the surge in smartphone usage are driving the growth of the global online insurance market. However, privacy and security concerns are hampering the online insurance market growth. On the contrary, the increase in adoption of digital solutions is expected to offer remunerative opportunities for the expansion of the online insurance market during the forecast period.
The online insurance market is segmented on the basis of enterprise size, insurance type, end user, and region. On the basis of enterprise size, the market is bifurcated into large enterprises and SMEs. On the basis of insurance type, it is categorized into life insurance, motor insurance, health insurance, and others. By end user, it is classified into insurance companies, aggregators, and third-party administrators & brokers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The top key players performing in the global online insurance market include Munich Re, Aviva, ASSICURAZIONI GENERALI S.P.A., RooT, Allianz SE, Zurich Insurance Group, Lemonade, Inc., AXA Group, Esurance Insurance Services, Inc, Swiss Re. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
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For instance -
Aviva partnered with Home Deposits Now - a provider of an alternative home deposit to help home buyers buy insurance online.
Munich Re acquired apinity, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry with an aim to help to forward the digitalization of the insurance value chain and of primary insurance and make it far easier for insurers to participate in the key area of open insurance.
Marsh partnered with Amazon to help its new digital insurance network to small business sellers to get affordable product liability coverage.
Foxquilt, a leading North American Insurtech company, launched an e-commerce insurance product throughout the state of New York, to bring its e-commerce solution to New York first - one of the largest e-commerce hubs in the country.
The report is a helpful resource for firms and individuals wanting to grasp current market trends and prospects in the online insurance industry. By exploiting the insights and recommendations presented in this study, stakeholders can make educated decisions and position themselves for success in the dynamic and evolving online insurance sector.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the online insurance market forecast along with current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global online insurance market trends is provided in the report.
The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The online insurance market analysis from 2022 to 2031 is provided to determine the market potential.
Online Insurance Market Report Highlights
By Enterprise Size
Large Enterprises
SMEs
By Insurance type
Life Insurance
Motor Insurance
Health Insurance
Others
By End User
Insurance Companies
Aggregators
Third Party Administrators and Brokers
By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
Key Market Players Zurich Insurance Group, RooT, Allianz SE, Munich Re, AXA Group, Esurance Insurance Services, Inc, ASSICURAZIONI GENERALI S.P.A., Aviva, Swiss Re, Lemonade, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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