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Insurance Analytics Global Market to 2027 - Opportunity Analysis and Industry Forecasts

·8-min read

Dublin, June 14, 2021 (GLOBE NEWSWIRE) -- The "Insurance Analytics Market By Component, Deployment Type, Enterprise Size, Application and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global insurance analytics market size was valued at $7.91 billion in 2019, and is projected to reach $ 22.45 billion by 2027, growing at a CAGR of 14.2% from 2020 to 2027. Insurance analytics engages in process of collecting, analyzing, and extracting relevant insights from various data sources. Moreover, insurance analytics largely help in pricing & risk selection, identifying customers at risk of cancellation, identifying risk of fraud, focusing on customer loyalty, and transforming claims process. Furthermore, insurance companies are increasingly adopting & implementing advance analytical solutions enable business growth, reduce fraudulent activities, and predict accurate risk for underwriting.

Significant requirement & implementation of advance technologies and provision of integrated & value-added services to customers promote adoption of these technologies. In addition, as consumers are inclined toward getting online quotes & customized insurance solutions 24/7 from different companies, which creates competition among firms operating in the industry. This, as a result promotes growth of the insurance analytics market. However, security & data privacy concern and stringent government regulations are some of the factors that hamper market growth.

On the contrary, frauds such as rate evasion, underwriting & internal fraud, and claims fraud & cybersecurity fraud are committed at different points in transaction by third-party claimants, applicants, policyholders, and professionals providing services to claimants. Therefore, owing to rapid growth in fraudulent activities, companies providing insurance solutions are expected to demand insurance analytics solutions, which would boost the market growth in the upcoming years.

The insurance analytics market is segmented on the basis of component, deployment type, enterprise size, application, end user, and region. On the basis of component, the market is bifurcated into solution and service. In termss of deployment type, it is divided into on-premises and cloud. On the basis of enterprise size, it is segmented into large enterprises and small & medium enterprises (SMEs). By application, it is segmented into claims management, risk management, customer management, sales & marketing, and others. Based on end user, the market is segmented into insurance companies, government agencies, and third-party administrators, brokers & consultancies. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyses the profiles of key players operating in the market include Applied Systems, IBM Corp., Microsoft, Open Text Corporation, Oracle, Pegasystems Inc., salesforce.com inc., SAP SE, SAS Institute Inc., and Vertafore, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits

  • The study provides in-depth analysis of the global insurance analytics market along with the current & future trends to illustrate the imminent investment pockets.

  • Information about key drivers, restrains, & opportunities and their impact analysis on the market size are provided in the report.

  • Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

  • The quantitative analysis of the global insurance analytics market from 2020 to 2027 is provided to determine the market potential.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping insurance analytics market
3.3. Market dynamics
3.3.1. Drivers
3.3.1.1. Increased adoption of advance technologies
3.3.1.2. Rise in competition among the insurance sector
3.3.2. Restraint
3.3.2.1. Stringent government regulations
3.3.2.1. Privacy & security concern
3.3.3. Opportunities
3.3.3.1. Surge in fraudulent activities
3.3.3.2. Untapped potential of emerging economies
3.4. COVID-19 impact analysis on insurance analytics market
3.4.1. Impact on insurance analytics market size
3.4.2. Change in insurers trends, preferences, and budget impact, owing to COVID-19
3.4.3. Framework for market challenges faced by insurance analytics solution providers
3.4.4. Economic impact on insurance analytics solution providers
3.4.5. Key player strategies to tackle negative impact on the industry
3.4.6. Opportunity analysis for insurance analytics solution providers

CHAPTER 4: INSURANCE ANALYTICS MARKET, BY COMPONENT
4.1. Overview
4.2. Solution
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Service
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country

CHAPTER 5: INSURANCE ANALYTICS MARKET, BY DEPLOYMENT MODEL
5.1. Overview
5.2. On-premises
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.3. Cloud
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country

CHAPTER 6: INSURANCE ANALYTICS MARKET, BY ENTERPRISE SIZE
6.1. Overview
6.2. Large Enterprises
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Small & Medium Enterprises (SMEs)
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis by country

CHAPTER 7: INSURANCE ANALYTICS MARKET, BY APPLICATION
7.1. Overview
7.2. Claims Management
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast, by region
7.2.3. Market analysis, by country
7.3. Risk Management
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis, by country
7.4. Customer Management
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market analysis, by country
7.5. Sales & Marketing
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market analysis, by country
7.6. Others
7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market analysis, by country

CHAPTER 8: INSURANCE ANALYTICS MARKET, BY END USER
8.1. Overview
8.2. Insurance Companies
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast, by region
8.2.3. Market analysis, by country
8.3. Government Agencies
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast, by region
8.3.3. Market analysis, by country
8.4. Third-party Administrators, Brokers & Consultancies
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast, by region
8.4.3. Market analysis, by country

CHAPTER 9: INSURANCE ANALYTICS MARKET, BY REGION

CHAPTER 10: COMPETITIVE LANDSCAPE
10.1. Introduction
10.1.1. Market player positioning, 2019
10.1.2. Top winning strategies

CHAPTER 11: COMPANY PROFILES
11.1. Applied Systems
11.1.1. Company overview
11.1.2. Company snapshot
11.1.3. Product portfolio
11.1.4. Key strategic moves and developments
11.2. INTERNATIONAL BUSINESS MACHINES CORPORATION
11.2.1. Company overview
11.2.2. Company snapshot
11.2.3. Operating business segments
11.2.4. Product portfolio
11.2.5. Business performance
11.3. MICROSOFT
11.3.1. Company overview
11.3.2. Company snapshot
11.3.3. Operating business segments
11.3.4. Product portfolio
11.3.5. Business performance
11.4. Open Text Corporation
11.4.1. Company overview
11.4.2. Company snapshot
11.4.3. Product portfolio
11.4.4. Business performance
11.5. Oracle
11.5.1. Company overview
11.5.2. Company snapshot
11.5.3. Operating business segments
11.5.4. Product portfolio
11.5.5. Business performance
11.5.6. Key strategic moves and developments
11.6. Pegasystems Inc.
11.6.1. Company overview
11.6.2. Company snapshot
11.6.3. Product portfolio
11.6.4. Business performance
11.7. salesforce. com inc.
11.7.1. Company overview
11.7.2. Company snapshot
11.7.3. Product portfolio
11.7.4. Business performance
11.7.5. Key strategic moves and developments
11.8. SAP SE
11.8.1. Company overview
11.8.2. Company snapshot
11.8.3. Operating business segments
11.8.4. Product portfolio
11.8.5. Business performance
11.9. SAS Institute Inc.
11.9.1. Company overview
11.9.2. Company snapshot
11.9.3. Product portfolio
11.10. Vertafore, Inc.
11.10.1. Company overview
11.10.2. Company snapshot
11.10.3. Product portfolio
11.10.4. Key strategic moves and developments

For more information about this report visit https://www.researchandmarkets.com/r/ule4mo

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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