Insurtech Market to Garner $158.99 Bn, Globally, by 2030 at 32.7%

Allied Market Research recently published a report, titled, “Insurtech Market by Offering (Solution and Service), Deployment Model (On-premise and Cloud), Technology (Artificial Intelligence, Cloud Computing, Blockchain, Big Data & Business Analytics, IoT, and Others), End User (Life & Health Insurance and Property and Casualty (P&C) Insurance), and Application (Product Development & Underwriting, Sales & Marketing, Policy Admin Collection & Disbursement, and Claims Management): Global Opportunity Analysis and Industry Forecast, 2021-2030”. As per the report, the global insurtech industry was pegged at $9.41 billion in 2020, and is estimated to generate $158.99 billion by 2030, growing at a CAGR of 32.7% from 2021 to 2030.

Major determinants of the market growth

Rise in digitalization of business models, saturation of the insurance industry, and growth and consolidation of internet technologies have boosted the growth of the global insurtech market. However, privacy & transparency concerns and changes to legal & regulatory framework hinder the market growth. On the contrary, rapid growth in incorporation of new technologies and untapped potential of emerging economies are expected to open new opportunities for the market players in the future.

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The market report includes an in-depth analysis of significant business developments, including the introduction of new product launches, partnerships, mergers & acquisitions, joint ventures, expansion, and others. The study accurately distinguishes their relative share, company profiles, product choices, business perspectives, and revenue shares. The research report also includes a thorough analysis of all the global trends and technologies.

The report focuses on growth prospects, restraints, and trends of the Insurtech market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Insurtech market outlook.

Top impacting factors
Rapid digitalization of business models
Changes to the legal & regulatory framework
Untapped potential of emerging economies

Key benefits for stakeholders

The study provides in-depth analysis of the global Insurtech market share along with current & future trends to illustrate the imminent investment pockets.
Information about key drivers, restrains, and opportunities and their impact analysis on the global insurance technology market size are provided in the report.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the Insurtech market.
An extensive analysis of the key segments of the industry helps to understand the Insurtech market trends.
The quantitative analysis of the global Insurtech market forecast from 2021 to 2030 is provided to determine the market growth potential.

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Key market segments

By Offering

By Deployment Model

By Technology

Artificial Intelligence
Cloud Computing
Big Data & Business Analytics
By End User

Life & Health Insurance
Property and Casualty (P&C) Insurance
Auto Insurance
Buildings Insurance
Commercial Buildings Insurance
Home Insurance
Dwelling Coverage
Contents Coverage
Marine Insurance
Liability Insurance
By Application

Product Development & Underwriting
Sales & Marketing
Policy Admin Collection & Disbursement
Claims Management
By Region

North America
The Netherlands
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Middle East

Connect Analyst

Key market players

Damco Group
DXC Technology Company
Oscar Insurance
Shift Technology
Trov Insurance Solutions, LLC
Wipro Limited
Zhongan Insurance

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USA/Canada :

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We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

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