Press release
Artificial Intelligence (AI) For Insurance Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Amazon.com Inc., Google LLC, Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE
Artificial Intelligence (AI) For Insurance Market Characteristics
The Business Research Company offers in-depth market insights through Artificial Intelligence (AI) For Insurance Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The artificial intelligence (AI) for insurance market size has grown exponentially in recent years. It will grow from $5.77 billion in 2023 to $7.71 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. The growth in the historic period can be attributed to data explosion in insurance, risk assessment and underwriting, fraud detection and prevention, customer experience enhancement, operational efficiency and cost reduction.
The artificial intelligence (AI) for insurance market size is expected to see exponential growth in the next few years. It will grow to $25.91 billion in 2028 at a compound annual growth rate (CAGR) of 35.4%. The growth in the forecast period can be attributed to advancements in ai algorithms, expansion of insurtech ecosystem, increased focus on personalization, integration with iot devices, evolving cyber insurance landscape. Major trends in the forecast period include collaboration with ecosystem partners, ethical and explainable ai, claims processing automation, customer experience enhancement, dynamic pricing strategies.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=13577&type=smp
Market Segmentation:
The artificial intelligence (ai) for insurance market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies
3) By Application: Fraud Detection and Credit Analysis, Customer Profiling and Segmentation, Product and Policy Design, Underwriting and Claims Assessment
4) By End User: Life And Health Insurance, Property And Casualty Insurance
Major Driver - Surge In Investments In Insurance Accelerates Growth In Artificial Intelligence (AI) Insurance Market
The rising investments in the insurance sector are expected to propel the growth of the artificial intelligence (AI) insurance market going forward. Investments refer to the allocation of money or resources to various assets or projects with the expectation of generating income or profit over time. AI in insurance for research and development, data infrastructure, technology development, and talent acquisition, ensuring comprehensiveness and providing innovative solutions to their customers. These investments are expected to fuel the development and adoption of AI-powered solutions, as insurers increasingly recognize the transformative potential of AI. For instance, in July 2023, according to a report published by Swiss Re, a Switzerland-based insurance company, investment rates increased from 6.2% in 2022 to 8.1% in 2023. Therefore, rising investments in the insurance sector are driving the growth of artificial intelligence (AI) for insurance market.
Competitive Landscape:
Major companies operating in the artificial intelligence (AI) for insurance market report are Amazon.com Inc., Google LLC, Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Salesforce Inc., Baidu Inc., Infosys Limited, Wipro Products Limited, OpenText Corporation, SAS Institute Inc., Pegasystems Inc., Shift Technology, Vertafore, Inc., Applied Systems, Zego Inc., Acko General Insurance, Tractable Ltd , SimpleFinance, Insurify, Inc., Avaamo Inc., Slice Insurance Technologies, Quantemplate, Cape Analytics LLC
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-for-insurance-global-market-report
Top Trend - Focus On Development Of Technologically Advanced Solutions
Major companies operating in the artificial intelligence (AI) for insurance market are focusing on the development of technologically advanced solutions, such as InsuranceGPT, to address the complexities of the insurance sector. InsuranceGPT is a custom-built generative pre-trained transformer (GPT) tool specifically designed for insurers, offering enhanced decision-making capabilities for automated claims management while maintaining privacy and data security. For instance, in June 2023, Simplifai AS, a Norway-based artificial intelligence company, introduced Simplifai InsuranceGPT, a specialized GPT tool for the insurance industry. This tool enhances decision-making for automated claims management, prioritizing privacy and data security. Additionally, key features include seamless integration into existing systems, a no-code-necessary model for security, training on insurance data for accuracy, and improved communication between insurers and customers.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Artificial Intelligence (AI) For Insurance Market Characteristics
3. Artificial Intelligence (AI) For Insurance Market Trends And Strategies
4. Artificial Intelligence (AI) For Insurance Market - Macro Economic Scenario
5. Artificial Intelligence (AI) For Insurance Market Size And Growth
…..
27. Artificial Intelligence (AI) For Insurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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 Artificial Intelligence (AI) For Insurance Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region | Amazon.com Inc., Google LLC, Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE here
News-ID: 3432966 • Views: …
More Releases from The Business research company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Insurance
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
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…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
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…
