Global Digital insurance platform Market is valued USD 69.4 billion in 2016 is anticipated to grow USD 225.7 billion with the compounded annual growth of 14% over the forecast period 2017-2025.
New York 22 June 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Digital insurance platform industry is poised to raise USD 225.7 billion by 2025. Some key components for the market development will be; 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 and the digital insurance platform is a business model that enables stakeholders in the ecosystem of the insurance industry to connect through a single centralized framework for solving multiple critical issues in the developing high-value ecosystems.
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Global Digital insurance platform Market Size study, by Component (Tools and Services), by End-Users (Insurance Companies, Third-Party Administrators and Brokers, and Aggregators), by Insurance Application (Automotive & transportation, home & commercial buildings, life & health, business & enterprises, travel), by Deployment Type (on-premises, cloud), by Organization Size (large enterprises, small & medium sized enterprises), and by Regional Forecasts 2017-2025
The industry is seems to be fairly competitive. Some of the leading market players include IBM, Microsoft, Accenture, oracle, SAP, TCS, cognizant, DXC technology, Infosys, pegasystems, and so on. Other market players discussed in the report include apian, mind tree, prima solutions, fineos, bolt solutions, inzura. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Increasing commercial investments by several companies in the APAC region grow the opportunities in this market.
- The Asia Pacific region will be the highest growing segment with respect to geographical segmentation by around XX%
Bizwit Research & Consulting LLP has considered following segments for the study:
- Tools & services
By End Users:
- Insurance companies
- Third party administrators
By Insurance application:
- Automotive & transportation
- Home & commercial buildings
- Life & health
- Business & enterprises
By Deployment type:
By Organisation size:
- Large enterprises
- Small & medium size enterprises
- North America
- Asia Pacific
- Latin America
- Rest of the World