Global InsurTech Market was valued at USD 5.48 billion in 2019 which is expected to reach USD 11.88 billion by 2027 at a CAGR 10.25%.
Insurtech is the use of technology innovations mainly designed to squeeze out savings and efficiency from the current insurance industry model. Insurtech is the combination of words insurance and technology.
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The latest report on the InsurTech market, as found on Qualiket Research website, is an extensive study of the market dynamics that are impacting both present market and the upcoming one. The market dynamics are expected to offer lasting impression on the holistic growth of the market. This has been analyzed well by adept market reviewers with immense knowledge and expertise in the subject. The study would bring along factors and figures to measure the track the market would take during the forecast period of 2020-2027.
Market Drivers and Restraints
Increase in demand for digitalization in business processes is the key driving factor which is expected to boost the global insurtech market growth. Furthermore, continuous development of numerous payment processing technologies has made the transaction easier and it is expected to contribute market growth during this forecast period. Also, adoption of insurtech in insurance industry will have the positive impact on global insurtech market growth.
However, lack of digital literacy in underdeveloped countries is the major restraining factor which is expected to hamper the global insurtech market growth.
To understand the potential of market in a precise manner, the global market has been analyzed according to the Porter’s Five Force Model structure. Also, the Insurtech market has been studied using SWOT analysis, and it highlights various strengths and opportunities, threats, and weaknesses that are associated with the industry.
Market Key Players
The report has included a profiling of various prominent players in the market and various trends in the manufacturing landscape and also identifies some of the new market entrants that are shaping the Insurtech market landscape.
Various key players are discussed in this report such as Acculitx, Zhong An, Oscars, Guevara, Friendsurance, Allay, Analyze Re, Array Health, Bayzat, BankBazaarcom, and EaseCentral
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- Cloud Computing
- Social Media
- Big Data and Analytics
- Block Chain
- Artificial Intelligence
- Life and Accident Insurance
- Health and Medical Insurance
- Personal PandC Insurance
- Commercial PandC Insurance
- Insurance Administration and Risk Consulting
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Major Points Covered in Table of Content
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Insurtech Market Outlook
4.2 Market Dynamics
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Insurtech Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Insurtech Market Share Analysis, By Type
5.3 Global Insurtech Market Size and Forecast, By Type
5.3.1 Cloud Computing
5.3.2 Social Media
5.3.3 Big Data and Analytics
5.3.4 Block Chain
5.3.5 Artificial Intelligence
6 Global Insurtech Market, By Application
6.1 Y-o-Y Growth Comparison, By Application
6.2 Global Insurtech Market Share Analysis, By Application
6.3 Global Insurtech Market Size and Forecast, By Application
6.3.1 Life and Accident Insurance
6.3.2 Health and Medical Insurance
6.3.3 Personal PandC Insurance
6.3.4Commercial PandC Insurance
6.3.5Insurance Administration and Risk Consulting
7 Global Insurtech Market, By Region
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