By akio01 Latest Market Study report by MarkNtel Advisors: Leading market research company, Title “InsurTech Market Report – By Technology (Blockchain, Cloud Computing, IoT, Machine Learning, Artificial Intelligence, Drones), By Deployment Mode (On-Premise, Cloud)” and other forecast 2024-30”. This detailed report provides a thorough look at the industry, covering key aspects like the InsurTech Market Size, its growth in share, development, and the top companies involved. It examines what’s driving the market, using historical, current, and projected data, as well as emerging trends, technology updates, important insights, recent developments, potential limitations, and other factors that will influence the industry’s direction in the future.
How Big is the InsurTech Industry?
Global InsurTech Market size is projected to grow at a CAGR of around 35% during the forecast period, i.e., 2024-30.
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Factors Influencing the Growth of the InsurTech Industry:
Digital Transformation of Insurance Sector – The rapidly changing business models, constant technological advancements in services & solutions, and increasing support from the governments of different countries are promoting digital transformation in the insurance industry. All these factors are propelling the demand for InsurTech solutions substantially and globally. It, in turn, is displaying an increasing adoption of these solutions among insurance companies to leverage their offerings & expand reachability across different regions worldwide, thereby driving the Global Insurtech Market in the coming years.
Name of Leading InsurTech Companies in the Global Market
> Trov, Inc.
> Oscar Insurance
> Policy Bazaar
> Quantemplate
> Clover Health Insurance
> Tractable
> Anorak Technologies
> Majesco
> Cytora Ltd.
> Zhongan Insurance
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Segmentation Summary – InsurTech Market
The breakdown of the InsurTech market into different segments provides a quick overview. It helps businesses understand what customers prefer and where they are located. By dividing the market into smaller groups based on purchasing habits and geography, companies can improve their business strategies. This summary offers a straightforward guide to better understanding the market.
By Technology
> Block chain
> Cloud Computing
> Internet of Things (IoT)
> Machine Learning (ML)
> Artificial Intelligence (AI)
> Drones
By Deployment Mode
> On-Premise
> Cloud
By Application
> Life and Accident Insurance
> Health and Medical Insurance
> P&C Insurance
> Commercial Insurance
> Insurance Administration and Risk Consulting
> Annuities
Regional Insight: Global InsurTech Market
Geographically, the InsurTech Market expands across:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Of all regions, North America dominated the market with the largest share in recent years and is anticipated to prevail in the same trend during the forecast period. It owes principally to the escalating adoption of InsurTech solutions to upgrade the entire insurance sector with the latest technological solutions, coupled with the rising customer inclination toward online platforms to avail of insurance services.
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Frequently Asking Question: Global InsurTech Market
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