Global Insurance Technology Market Size study, by Component (Tools, Services), by End user (Insurance Companies, Third Party Administration and Brokers, Aggregators) and by Regional Forecasts 2018-2025

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Global Insurance Technology Market valued approximately USD XX Billion in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2018-2025. The insurance industry continues to face challenges, given the pervasive nature of insurance fraud and the inability to account for unforeseen costs, forcing them to spend further capital on reinsurance policies. As the pressure on insurance companies to reduce costs and acquire new customers increases, there is a shift in focus towards data, analytics, and customer acquisition and retention tools and comes Insurance technology in Trend. This growth is attributed to the growing adoption of Internet of Things (IoT) products, rise in the shift of insurers’ focus from product-based strategies to customer-centric strategies, and increased awareness among insurers to digitalize channels

 The regional analysis of Global Insurance Technology Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. As per regional Analysis North America is expected to account for the largest market size and dominate the digital insurance platform market from 2018 to 2025. This region has a high concentration of large insurance companies, which largely contribute to the digital insurance platform market. However, the Asia Pacific (APAC) region is expected to provide opportunities for digital insurance platform services providers. These growth opportunities can be attributed to the increasing commercial investments by several companies in the APAC region.

Global Insurance Technology MarketThe objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

  • Tools
  • Services

By End User:

Insurance Companies

Third Party Administration and Brokers

Aggregators

By Regions:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2015, 2016

Base year – 2017

Forecast period – 2018 to 2025

The industry is seeming to be fairly competitive. Some of the leading market players include IBM, Microsoft, Accenture, Oracle, By Miles, Yolo, Zego, Insurance Technology Services, Patriot Technology Solutions., Techinsurance, Seibels, DXC Technology, Marias Technology, MSG Life, Hubio, Ventiv, Majesco-et-al and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.

Target Audience of the Global Insurance Technology Market in Market Study:

  • Key Consulting Companies & Advisors
  • Large, medium-sized, and small enterprises
  • Venture capitalists
  • Value-Added Resellers (VARs)
  • Third-party knowledge providers
  • Investment bankers
  • Investors

Chapter 1.           Executive Summary

1.1.         Market Snapshot

1.2.         Key Trends

1.3.         Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)

1.3.1.     Global Insurance Technology Market, by Region, 2015-2025 (USD Billion)

1.3.2.     Global Insurance Technology Market, by Component, 2015-2025 (USD Billion)

1.3.3.     Global Insurance Technology Market, by End-User, 2015-2025 (USD Billion)

1.4.         Estimation Methodology

Chapter 2.           Global Insurance Technology Market Definition and Scope

2.1.         Research Objective

2.2.         Market Definition & Scope

2.2.1.     Industry Evolution

2.2.2.     Scope of the Study

2.3.         Years Considered for the Study

2.4.         Currency Conversion Rates

2.5.         Report Limitation

Chapter 3.           Global Insurance Technology Market Dynamics

3.1.         See Saw Analysis

3.1.1.     Market Drivers

3.1.2.     Market Challenges

3.1.3.     Market Opportunities

Chapter 4.           Global Insurance Technology Market Industry Analysis

4.1.         Porter’s 5 Force Model

4.1.1.     Bargaining Power of Buyers

4.1.2.     Bargaining Power of Suppliers

4.1.3.     Threat of New Entrants

4.1.4.     Threat of Substitutes

4.1.5.     Competitive Rivalry

4.1.6.     Futuristic Approach to Porter’s 5 Force Model

4.2.         PEST Analysis

4.2.1.     Political Scenario

4.2.2.     Economic Scenario

4.2.3.     Social Scenario

4.2.4.     Technological Scenario

4.3.         Value Chain Analysis

4.3.1.     Supplier

4.3.2.     Manufacturers/Service Provider

4.3.3.     Distributors

4.3.4.     End-Users

4.4.         Key Buying Criteria

4.5.         Regulatory Framework

4.6.         Cost Structure Analysis

4.6.1.     Raw Material Cost Analysis

4.6.2.     Manufacturing Cost Analysis

4.6.3.     Labour Cost Analysis

4.7.         Investment Vs Adoption Scenario

4.8.         Analyst Recommendation & Conclusion

Chapter 5.           Global Insurance Technology Market, By Component

5.1.         Market Snapshot

5.2.         Market Performance – Potential Model

5.3.         Global Insurance Technology Market, Sub Segment Analysis

5.3.1.     Tools

5.3.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

5.3.1.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)

5.3.2.     Services

5.3.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

5.3.2.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)

Chapter 6.           Global Insurance Technology Market, By End-User

6.1.         Market Snapshot

6.2.         Market Performance – Potential Model

6.3.         Global Insurance Technology Market, Sub Segment Analysis

6.3.1.     Insurance Companies

6.3.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

6.3.1.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)

6.3.2.     Third Party Administration and Brokers

6.3.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

6.3.2.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)

6.3.3.     Aggregators

6.3.3.1. Market estimates & forecasts, 2015-2025 (USD Billion)

6.3.3.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)

Chapter 7.           Global Insurance Technology Market, by Regional Analysis

7.1.         Insurance Technology Market, Regional Market Snapshot (2015-2025)

7.2.         North America Insurance Technology Market Snapshot

7.2.1.     U.S.

7.2.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.2.1.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.2.1.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.2.2.     Canada

7.2.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.2.2.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.2.2.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.         Europe Insurance Technology Market Snapshot

7.3.1.     U.K.

7.3.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.3.1.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.1.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.2.     Germany

7.3.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.3.2.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.2.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.3.     France

7.3.3.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.3.3.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.3.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.4.     Rest of Europe

7.3.4.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.3.4.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.3.4.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.         Asia Insurance Technology Market Snapshot

7.4.1.     China

7.4.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.4.1.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.1.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.2.     India

7.4.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.4.2.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.2.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.3.     Japan

7.4.3.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.4.3.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.3.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.4.     Rest of Asia Pacific

7.4.4.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.4.4.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.4.4.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.5.         Latin America Insurance Technology Market Snapshot

7.5.1.     Brazil

7.5.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.5.1.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.5.1.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.5.2.     Mexico

7.5.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.5.2.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.5.2.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.6.         Rest of The World

7.6.1.     South America

7.6.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.6.1.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.6.1.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.6.2.     Middle East and Africa

7.6.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)

7.6.2.2. Component breakdown estimates & forecasts, 2015-2025 (USD Billion)

7.6.2.3. End-User breakdown estimates & forecasts, 2015-2025 (USD Billion)

Chapter 8.           Competitive Intelligence

8.1.         Company Market Share (Subject to Data Availability)

8.2.         Top Market Strategies

8.3.         Company Profiles

8.3.1.     IBM

8.3.1.1. Overview

8.3.1.2. Financial (Subject to Data Availability)

8.3.1.3. Product Summary

8.3.1.4. Recent Developments

8.3.2.     Microsoft.

8.3.3.     Accenture

8.3.4.     Oracle

8.3.5.     By Miles.

8.3.6.     Yolo

8.3.7.     Zego

8.3.8.     Insurance Technology Services

8.3.9.     Patriot Technology Solutions.

8.3.10.   Techinsurance

8.3.11.   Seibels

8.3.12.   DXC Technology

8.3.13.   Marias Technology

8.3.14.   MSG Life

8.3.15.   Hubio

8.3.16.   Ventiv

8.3.17.   Majesco-et-al

Chapter 9.           Research Process

9.1.         Research Process

9.1.1.     Data Mining

9.1.2.     Analysis

9.1.3.     Market Estimation

9.1.4.     Validation

9.1.5.     Publishing

9.1.6.     Research Assumption

The Research Methodology for Global Insurance Technology Market Study deeply focuses on the entire value chain of the market. However, all of the statistical estimates are purely based on the consumption/implementation side of the value chain wherein the market sizes have been calculated by analyzing the prices i.e. sale price or cost prices along with the average demand/ procedures/usage/ deployment/execution of Insurance Technology across various industries / end-use/applications.

The whole Insurance Technology industry has been divided into various segments i.e. Component, End-User and Regions and each of which is studied as an individual study by our research analysts and consultants. Each of the subsegments has been analyzed and estimated at country level to form a regional scope. After finalizing the regional and segmental revenues the total revenue for Global Insurance Technology Market is calculated as a sum of all the different segments.

Some of the key data points considered under the Research Methodology to calculate the revenue for Global Insurance Technology Market includes:

  • Revenues from key companies
  • Company market share analysis
  • Consumer spending analysis
  • Regional export and import analysis
  • Regulatory Trends
  • Sales revenue generated by various products/applications in different countries/geographies

The Research Methodology starts with extensive data mining, using paid & free authentic information sources such as white papers, industry journals, trade magazines, Hoovers, Factiva, Statista, news websites, technical publications, independent studies etc. a team of dedicated research analysts and associates work on all of the gathered data to extract relevant information. Key factors such as ongoing & upcoming industry trends, external & internal driving factors, restraining factors, growth opportunities and value chain analysis have been verified in order form qualitative part of the report and to back the estimation team for quantitative analysis.

We utilize a combination of top-down and bottom-up methodology for industry estimations & forecasts. Additionally, we employ data triangulation techniques to verify each of the estimates and forecasts through primary interviews and feedbacks. An extensive primary and secondary research have been conducted with the key industry people, through questionnaires, telephonic conversations, email conversations, and interviews to verify industry trends and estimations. Various government websites/portals and paid data sources are considered as a key source of secondary research.

All of the estimates are derived from simulation models which is our proprietary technique. Each of these models is different from another. These models are a combination of correlation, regression and time series analysis. Each of these models is basically divided into two types namely economic and technological. Economical models are used to determine short-term market estimates and technological models are used for long-term estimates & forecasts. Both the types are used collectively in order to derive market estimates for the base year as well as for forecast period.


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