openPR Logo
Press release

Surge In Investments In Insurance Accelerates Growth In Artificial Intelligence (AI) Insurance Market: A Key Factor Shaping the Future of the Artificial Intelligence (AI) For Insurance Market in 2025

Artificial Intelligence AI For Insurance Market

Artificial Intelligence AI For Insurance Market

What combination of drivers is leading to accelerated growth in the artificial intelligence (ai) for insurance market?
The projected growth of the artificial intelligence (AI) insurance market is fueled by escalating investments in the insurance sector. These investments entail the commitment of financial resources or assets to various initiatives with the goal of garnering income or profit longitudinally. The sectors to which these investments are dedicated include research and development, data infrastructure, technology expansion, and human resource acquisition in AI for insurance, which ensures thorough solutions and introduces innovations for their client base. Such financial commitments are anticipated to bolster the creation and utilization of AI-enabled solutions, with the enhanced awareness of AI's transformative possibilities among insurers. As indicated in a July 2023 report issued by Swiss Re, a Swiss insurance firm, investment rates have climbed from 6.2% in 2022 to 8.1% in 2023. Consequently, mounting investments in the insurance sector are steering the expansion of the artificial intelligence (AI) for the insurance market.

Get Your Artificial Intelligence (AI) For Insurance Market Report Here:
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-ai-for-insurance-global-market-report

What is the projected compound annual growth rate (CAGR) of the artificial intelligence (ai) for insurance market from 2025 to 2034, and what factors influence it?
There has been a significant expansion in the market size for artificial intelligence (AI) in the insurance industry over the past few years. The market is projected to rise from $7.71 billion in 2024 to $10.27 billion in 2025, incurring a compound annual growth rate (CAGR) of 33.3%. This increase during the historic period is largely due to a surge in insurance data, improvements in risk assessment and underwriting, enhancements in fraud detection and prevention, betterment of customer experience, and increased operational efficiency that results in cost reduction.

The size of the artificial intelligence (AI) for insurance market is poised to undergo a surge in the upcoming years, escalating to $35.76 billion by 2029, with a compound annual growth rate (CAGR) of 36.6%. The forecast period's expansion is largely due to advancements in AI algorithms, growth of the insurtech ecosystem, rising emphasis on personalization, incorporation of IoT devices, and the evolving landscape of cyber insurance. Key trends projected for this period encompass collaborations with ecosystem partners, ethical and explainable AI, automation of claims processing, a boost in customer experience, and dynamic pricing strategies.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=13577&type=smp

What new trends are reshaping the artificial intelligence (ai) for insurance market and its opportunities?
The primary firms in the artificial intelligence (AI) for insurance market are concentrating on establishing cutting-edge solutions, like InsuranceGPT, to tackle the intricacies of the insurance industry. This tool, a tailor-made generative pre-trained transformer (GPT) dash, provides insurers with superior automated claims management decision-making power while ensuring data security and privacy. As an example, Simplifai AS, an AI firm situated in Norway, launched their specialized Simplifai InsuranceGPT in June 2023, featuring no-code security model integration, training on insurance data to increase accuracy, smoother communication between consumers and insurance companies, as well as maintenance of privacy and protection of data.

What are the major segments of the artificial intelligence (ai) for insurance market and their role in driving growth?
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

Subsegments:
1) By Hardware: AI Chips, Edge Devices
2) By Software: Machine Learning Platforms, Fraud Detection Software, Customer Service Automation Software, Risk Assessment Tools
3) By Services: Consulting Services, Integration Services, Managed Services, Support And Maintenance Services

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=13577

Which regions are key players in the growth of the artificial intelligence (ai) for insurance market?
North America was the largest region in the artificial intelligence (AI) for insurance market in 2024. The regions covered in the artificial intelligence (AI) for insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the artificial intelligence (ai) for insurance market?
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

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=13577&type=smp

What Is Covered In The Artificial Intelligence (AI) For Insurance Global Market Report?

• Market Size Forecast: Examine the artificial intelligence (ai) for insurance market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence (ai) for insurance market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence (ai) for insurance market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence (ai) for insurance market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence (ai) for insurance market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence (ai) for insurance market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence (ai) for insurance market.
• Competitive Landscape: Review strategic developments in the artificial intelligence (ai) for insurance market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

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 Surge In Investments In Insurance Accelerates Growth In Artificial Intelligence (AI) Insurance Market: A Key Factor Shaping the Future of the Artificial Intelligence (AI) For Insurance Market in 2025 here

News-ID: 3904677 • Views:

More Releases from The Business Research Company

2025-2034 Superconducting Quantum Chip Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
2025-2034 Superconducting Quantum Chip Market Outlook: Key Drivers, Emerging Cha …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. What Is the Expected CAGR for the Superconducting Quantum Chip Market Through 2025? The market size of superconducting quantum chips has shown a swift expansion in the past few years. It's forecasted to surge from a value of $0.74 billion in 2024, reaching $0.87 billion in 2025, with a
What Is Driving Global Responsible AI Governance Consulting Market Growth in 2025: The Role of Growing Adoption Of Generative AI Tools Due To Rising Regulatory Compliance And AI Transparency Needs
What Is Driving Global Responsible AI Governance Consulting Market Growth in 202 …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. How Large Will the Responsible AI Governance Consulting Market Size By 2025? The market size for responsible AI governance consulting has seen substantial growth recently. Projections show it will expand from $0.29 billion in 2024 to $0.43 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 49.0%.
Expansion Of Industrial Fleets Fueling The Growth Of The Market Due To Rising E-Commerce And Warehouse Automation: Transformative Forces Shaping the Material Handling Equipment Telematics Market Landscape in 2025
Expansion Of Industrial Fleets Fueling The Growth Of The Market Due To Rising E- …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. Material Handling Equipment Telematics Market Size Valuation Forecast: What Will the Market Be Worth by 2025? In recent times, the size of the telematics market for material handling equipment has experienced swift growth. The market is projected to increase from $5.42 billion in 2024 to $6.14 billion in 2025,
Higher Educational Professional Audio-Visual (Pro AV) Market Poised to Hit $5.68 Billion by 2029 with Accelerating Growth Trends
Higher Educational Professional Audio-Visual (Pro AV) Market Poised to Hit $5.68 …
Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts. What Will the Higher Educational Professional Audio-Visual (Pro AV) Industry Market Size Be by 2025? The market size for professional audio-visual (pro av) in the higher education sector has seen robust growth in the past few years. The market is projected to increase from a value of $3.54 billion

All 5 Releases


More Releases for Insurance

Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying
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