InsurTech Market Set for 35% CAGR Surge in 2024-30 Outlook

Market Overview: InsurTech Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on InsurTech Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

InsurTech Market Insights 2024-30

The InsurTech Market is estimated to grow at a CAGR of around 35% during the forecast period 2024-30.

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Driving Innovation: Exploring the InsurTech Market and its Key Drivers

Global 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.

Top Players in the InsurTech Market:

Trov Inc., Oscar Insurance, Policy Bazaar, Quantemplate, Clover Health Insurance, Tractable, Anorak Technologies, Majesco, Cytora Ltd., Zhongan Insurance, DXC Technology Company, Damco Group, OutSystems, Shift Technology, Wipro Limited and others

InsurTech Industry Recent Development:

In August 2023, DXC Technology Company, disclosed a new multi-year arrangement to provide end-to-end support for a component of AT&T’s IT infrastructure operations. AT&T’s midrange IT infrastructure, comprising enterprise compute, storage, backup, and recovery environments, will be managed by DXC. In addition, DXC will oversee the maintenance and design of the hardware in these settings, as well as the databases, storage, and systems.

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Segmentation Analysis of InsurTech Market

InsurTech Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

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

The Health & Medical Insurance segment has acquired a substantial market share in recent years & is anticipated to continue in the same trend during the forecast period.

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A Comprehensive Geographical Analysis:

By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

North America dominated the market with the largest share in recent years and is anticipated to prevail in the same trend during the forecast period.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Being one of the most efficient market research companies in India, our specialized team of experienced & efficient market research professionals is capable of grasping every minute and valuable information & data of the market to offer our clients with satisfactory details. Our company has served the biggest market research firms in India at leading positions and is proficient in managing all types of market research projects.

About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.