Global Insurtech Market Size, Share, Trend, and Forecast 2021 – 2030
The Global Insurtech Market is expected to reach USD 166.7 Billion by 2030, at a CAGR of 52% during the forecast period 2021 to 2030.
Get a free sample PDF: https://www.sphericalinsights.com/request-sample/1264
The COVID-19 pandemic has had a negative effect on credit portfolios. Consumers’ and businesses’ solvency is being strained by the unprecedently high rate unemployment and the disruption of economic activity. By reducing interest rates and carrying out asset acquisition programmes, central banks have demonstrated a proactive stance by bringing liquidity into the market. It was difficult enough to manage and monitor credit, market, liquidity, and operational risk in the financial markets with ongoing geopolitical tensions, global trade disputes, and sporadic earthquakes and hurricanes. Chief risk officers and their teams have been compelled by the current pandemic to reevaluate outdated risk management and monitoring models and presumptions. The global impact of COVID-19 has demonstrated the significance of interconnectivity in global collaboration.
During the projected period, the medical segment is expected to hold the largest market share. The insurtech companies market is divided into the following categories: Auto, Management, Health, Home, Specialty, Travel, and Others. During the projected period, the health segment is expected to hold the largest market share. It is anticipated that demand for the health sector will increase due to the insurance sector’s growing need for digital platforms. Health insurance exchanges, brokers, providers, and carriers are connected by these online networks. Life and health companies that wish to better understand and service their customers are finding that using advanced analytics is essential to their success. To streamline the claims processing process, an increasing number of health insurance companies are utilising various insurtech technologies.
Over the course of the forecast period, the managed services segment is expected to have a greater CAGR. The insurtech market can be divided into three segments: managed services, support and maintenance, and consulting. Over the course of the forecast period, the managed services segment is expected to have a greater CAGR. Using the most recent tools and the expertise of seasoned professionals, managed service providers can assist insurance companies in making the shift to digital by providing them with a detailed plan. Additionally, the managed service providers can counsel insurers on appropriate protocols, guidelines, and legal requirements. Insurance companies can solve IT and operational issues and seize opportunities thanks to managed services. New models for business have become increasingly valuable to the insurance sector in recent times.
List of Key Companies
- Oscar Insurance
- Quantemplate
- Shift Technology
- Trov Inc.
- Wipro Limited
- ZhongAn Insurance
- Acko
- Coya
Market segmentation:
Global Insurtech Market, By Type
- Auto
- Business
- Health
- Home
- Specialty
- Travel
Global Insurtech Market, By Service
- Consulting
- Support & Maintenance
- Managed Services
Competitive analysis:
The competitive analysis section of the Global Insurtech Market research report provides a detailed study of the competitive landscape within the market. It aims to identify and assess key market players, their strategies, and their impact on overall market dynamics. Each company’s profile provides insight into its business profile, product portfolio, geographic presence, and recent developments. This information helps stakeholders to gain a comprehensive understanding of market participants and their capabilities.
In addition, competitive analysis examines the market share held by each major player and assesses their position within the market. Assessing relative market strength considers factors such as revenue, market capitalization, and market share growth over time. By understanding the distribution of market shares, industry participants can identify key players and their market power.
Browse key industry insights spread across 200 pages with 182 market data tables and figures & charts from the report “Global Insurtech Market Size, Share, and COVID-19 Impact Analysis By Type (Auto, Business, Health, Home, Specialty, Travel, and Others), By Service ( Consulting, Support & Maintenance, and Managed Services), By Technology (Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, and Others), By End- User (Automotive, BFSI, Government, Healthcare, Manufacturing, Retail, Transportation, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”.
Access full report: https://www.sphericalinsights.com/reports/insurtech-market
The Global Insurtech Market Research Report aims to answer the following key questions:
- What are the main products and services offered in the market and how are they evolving to meet changing consumer demands?
- What are the key technological advances and innovations impacting the market and how will they affect the competitive landscape?
- What are the key distribution channels and marketing strategies market players employ to effectively reach their target audience?
- What are the price trends in the market, and how do prices change across different product segments and geographies?
- How will changing demographic patterns, such as age groups and income levels, affect consumer behaviour and market demand?
- What are the key cost factors and factors that influence the profitability of companies in the Global Insurtech Market?
- How will sustainability and environmental considerations affect consumer preferences and market growth in this sector?
- What are the investment opportunities and challenges for new entrants and investors looking to enter the market?
- How do government policies and regulations impact market dynamics and shape industry strategies?
- What are the current supply chain trends and challenges in the market, and how do they affect product availability and pricing?
- What are the levels of customer satisfaction and loyalty within the market, and how do market participants differentiate in terms of service quality?
About Newness Insights & Consulting
Newness Insights & Consulting is a dynamic market research and consulting company specializing in delivering valuable market research studies, precise quantitative forecasting, and insightful trend analysis tailored to empower decision-makers. Our forward-looking insights are meticulously crafted to enhance ROI and drive success.
We serve a diverse range of industries, including the financial sector, industrial enterprises, government organizations, universities, non-profit entities, and corporations. Our core mission revolves around collaborating with businesses to not only attain their strategic objectives but also sustain continuous improvement.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter