InsurTech Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The InsurTech Market size is projected to grow at a CAGR of around 35% during the forecast period, i.e., 2024-30. The market is driven principally by an increasing inclination of insurance companies toward digitalization to yield operational efficiency while providing services like faster claim processing, an automated claims process, enhanced coordination amongst parties, and improved communication platforms, among others, to their customers.
Markntel Advisor’s InsurTech Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, InsurTech Market drivers, barriers, InsurTech Market Trends, and Key Players in InsurTech Market.
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InsurTech Market Dynamics: 2024-2030
InsurTech Market Driver:
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.
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InsurTech Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- 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
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Top Companies Operating in the InsurTech Market:
- Trov, Inc.
- Oscar Insurance
- Policy Bazaar
- Quantemplate
- Clover Health Insurance
- Tractable
- Anorak Technologies
- Majesco
- Cytora Ltd.
- Zhongan Insurance
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