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Insurtech Market Expected to Reach $158.99 Billion by 2030 | Case Study by Industry Dynamics & COVID-19 Impact Analysis

Insurtech Market Report

PORTLAND, OREGON, UNITED STATES, November 18, 2021 / — Allied Market Research published a new 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.” According to a report, the global Insurtech market size was valued at $9.41 billion in 2020, and is projected to reach $158.99 billion by 2030, growing at a CAGR of 32.7% from 2021 to 2030.

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The research offers an extensive analysis of key players active in the global Insurtech Market. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research.

The major companies profiled in the Insurtech Market include Damco Group, DXC Technology Company, Majesco, Oscar Insurance, OutSystems, Quantemplate, Shift Technology, Trov Insurance Solutions, LLC, Wipro Limited, and Zhongan Insurance.

The Insurtech market is fragmented with the presence of regional vendors such as DXC Technology Company, Shift Technology, and Trov Insurance Solutions, LLC. North America dominated the Insurtech market, in terms of revenue in 2020, and is expected to retain its dominance during the forecast period. However, Asia-Pacific is anticipated to experience significant growth in the future, owing to the presence of emerging economies and increase in government support toward digitalized insurance industry. This is projected to accelerate the demand for Insurtech in the region. Some of the key players profiled in the report include Damco Group, Majesco, Oscar Insurance, OutSystems, Quantemplate, Wipro Limited, and Zhongan Insurance. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits from Insurtech Market Report 2021-2030:

 The report provides a qualitative and quantitative analysis of the current Insurtech Market trends, forecasts, and market size from 2021 to 2030 to determine new opportunities.
 Porter’s Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
 Top impacting factors & major investment pockets are highlighted in the research.
 The major countries in each region are analyzed and their revenue contribution is mentioned.
 The market player positioning segment provides an understanding of the current position of the players active in the Insurtech Market.

The Insurtech Market report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

COVID-19 Pandemic disrupted the entire world and affected many industries.

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The report offers key drivers that propel the growth in the global Insurtech Market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.

The research offers a detailed segmentation of the global Insurtech Market. Key segments analyzed in the research include type, applications, and geography. Extensive analysis of sales, revenue, growth rate, and market share of each segment for the historic period and the forecast period is offered with the help of tables.

The Insurtech Market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.

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Key offerings of the report:

 Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
 Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
 Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
 Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
 Competitive Landscape: Extensive insights on each of the leading Insurtech Market players for outlining competitive scenario and take steps accordingly.

Key market segments
By Offering
• Solution
• Service
By Deployment Model
• On-premise
• Cloud
By Technology
• Artificial Intelligence
• Cloud Computing
• Big Data & Business Analytics
• IoT
• Others
By End User
• Life & Health Insurance
• Property and Casualty (P&C) Insurance
o Auto Insurance
o Buildings Insurance
 Commercial Buildings Insurance
 Home Insurance
 Dwelling Coverage
 Contents Coverage
o Marine Insurance
o Liability Insurance
o Others
By Application
• Product Development & Underwriting
• Sales & Marketing
• Policy Admin Collection & Disbursement
• Claims Management
By Region
• North America
o U.S.
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o The Netherlands
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Australia
o South Korea
o Rest of Asia-Pacific
o Latin America

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
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