Press release
Low Code Technology in Insurance Market is on an Upward Growth Curve
According to the latest research by InsightAce Analytic, the Global Low Code Technology in Insurance Market is expected to expand with a CAGR of 18.16% during the forecast period of 2024-2031.
Request For Free Sample Pages:
https://www.insightaceanalytic.com/request-sample/2384
Low-code technology in insurance refers to a coding environment that enables developers with varying levels of expertise to build applications using model-driven logic, dynamic graphical user interfaces, and configurations. This approach reduces the dependence on traditional hand-coding methods, simplifying the development process. By leveraging low-code platforms, insurance companies can expedite the creation and deployment of digital solutions such as chatbots, self-service portals, and mobile applications.
These platforms allow non-technical individuals, including business analysts and citizen developers, to build applications without requiring in-depth coding skills. In an industry facing a shortage of skilled professionals, low-code solutions offer an effective way to streamline development and reduce reliance on IT departments. Insurance companies can quickly prototype, test, and refine new products, services, and business models using these platforms.
List of Prominent Players in the Low Code Technology in Insurance Market:
• Whatfix
• WalkMe
• Stonly
• Oracle
• AppLearn
• SAP
• Userlane
• Pendo
• Knowmore
• Appcues
• Other Market Players
Market Dynamics:
Drivers-
The increasing demand for low-code technology in the insurance sector is driven by the growing need for high-usage, functional software that addresses enterprise data requirements and supports unique business processes. Additionally, the low-code technology market is influenced by the trend of software developers creating tailored systems to meet the specific needs of businesses, particularly as companies utilize a wide range of devices for their employees.
Curious About This Latest Version Of The Report? Enquiry Before Buying: https://www.insightaceanalytic.com/enquiry-before-buying/2384
Challenges:
A major challenge hindering the growth of low-code technology in the insurance market is the lack of sufficient technological expertise, limited availability of skilled professionals, and the absence of standardized protocols, particularly in emerging economies due to the impact of lockdowns and isolation. Further obstacles to market expansion include the need to replace legacy systems and dependence on vendor-specific customizations.
Regional Trends:
The North American low-code technology market in the insurance sector is expected to capture a significant revenue share, with projections indicating high compound annual growth in the near future. This growth is largely driven by the increasing adoption of low-code technology by insurance companies in North America to modernize operations, enhance productivity, and improve customer experience.
Meanwhile, the Asia Pacific region is also witnessing substantial market growth, driven by the broader adoption of low-code technology as insurance companies update their systems to better serve their clients. The market in this region is further supported by regulatory initiatives promoting digital innovation and rising investments in technological infrastructure.
Recent Developments:
• In October 2023, AppLearn announced the successful completion of its SOC2 Type 1 attestation. Achieving this goal shows how serious the organization is about protecting its customers' privacy, data, and security.
• In Nov 2023, Sagitec formed a partnership with Whatfix, the top-rated Digital Adoption Platform (DAP) for businesses that relies on data. Together, they are developing a distinctive digital adoption solution that will be combined with pension, labor, employment, and other industry solutions. This collaboration enables customers to obtain Whatfix's cutting-edge Digital Adoption Platform directly from Sagitec, simplifying the process of deploying Whatfix to enhance user experience and expedite the adoption of Sagitec's software solutions.
Get Specific Chapter/Information From The Report: @ https://www.insightaceanalytic.com/customisation/2384
Segmentation of Low Code Technology in Insurance Market-
By Component-
• Platform
• Services
By Application Type-
• Web-based
• Mobile-based
• Desktop
• Server-based
By Organization Size-
• SMEs
• Large Enterprises
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
Get More Information:
https://www.insightaceanalytic.com/report/low-code-technology-in-insurance-market/2384
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
Contact Us:
info@insightaceanalytic.com
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 607 400-7072
Asia: +91 79 72967118
Follow Us on LinkedIn @ bit.ly/2tBXsgS
Follow Us On Facebook @ bit.ly/2H9jnDZ
Twitter: https://twitter.com/Insightace
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 Low Code Technology in Insurance Market is on an Upward Growth Curve here
News-ID: 4159728 • Views: …
More Releases from Insightace Analytic Pvt Ltd.
Lucid Dreaming Devices Market Growth and Restrain Factors Analysis Report
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the " Lucid Dreaming Devices Market - (By Device Type (Wearable Devices, Non-wearable Devices), By Application (Personal Use, Therapeutic Use), By Distribution Channel (Online Sales, Specialty Stores, Direct Sales)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Lucid Dreaming Devices Market is valued at US$ 116.5 Mn in…
Low-carbon Monocrystalline Silicon Ingots Market Exclusive Report on Current Tre …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Low-carbon Monocrystalline Silicon Ingots Market - (By Type (P-type Monocrystalline Silicon Ingots, N-type Monocrystalline Silicon Ingots), By Technology (Czochralski (CZ) Process, Float Zone (FZ) Process), By Application (Photovoltaic (Solar) Cells, Semiconductor Wafers, Optoelectronic Devices, Others), By End-use Industry), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the…
Low-Carbon Construction Material Market Study Analysis with Forecast to 2034
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Low-Carbon Construction Material Market- (By Application (Residential, Commercial, Industrial, Others), By Material (Plastic (Bio-Based Plastic, Recycled Plastic), Metal (Sustainable Steel, Low-Carbon Aluminum, Others), Mass Timber (Cross-Laminated Timber, Nail-Laminated Timber, Glue-Laminated Timber, Others), Green Concrete, Green Tiles, Low-Carbon Bricks, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2034."
According to the latest research by InsightAce Analytic,…
Long-acting Drug Delivery Technologies Services Market Report- Expansive Coverag …
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Long-acting Drug Delivery Technologies Services Market Size, Share & Trends Analysis Report By Technique (Long-Acting Injectables, Long-Acting Hydrogels, Long-Acting Implants, Long-Acting Microneedles, And Nanocrystal Suspensions), Dosage Form (Injectables, Implantable, Topical/Transdermal, Vaginal), Type Of Molecule Delivered (Small Molecules, Biologics), Material Used (Polymer Based And Non-Polymer Based) And End-User (Biopharmaceutical And Life Science Companies And Research And…
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…
