AI in Insurance Market 2021 Sales Revenue, Grow Pricing, Industry Growth Analysis, COVID – 19 Outbreak, Global Segments and Business Trends
Research Reports
Jan 07, 2021
AI in Insurance Market Overview:
The penetration of AI in insurance processes, especially in developed economies, is estimated to bolster the in the insurance market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. An impressive CAGR is forecasted for the global market in the forecast period.
The requirement of staying competitive in the AI in Insurance Market is forecasted to spur the AI in the insurance market share in the future. The escalating quantity and pace of data generation are anticipated to benefit AI in the insurance market in the approaching period.
Major Key Players:
The outstanding contenders in the AI in insurance market are PolicyPal (Singapore), Insurmi (US), Planck Re (US), Microsoft Corporation (US), IBM Corporation (US), Wipro Limited (India), BIMA (UK), Quantemplate (US), Cape Analytics LLC (US), Zurich Insurance Group (Switzerland), Amazon Web Services Inc. (US),Lemonade (US), Trov (Japan), ZhongAn (China), Acko General Insurance (India), Shift Technology (France), Slice (US), Insurify (US), Avaamo Inc (US), and Tractable (UK) are some of the other players in the market.
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Segmental Analysis:
The segmental review of the AI in insurance market has been carried out on the basis of application, technology, deployment, component, and sector.
- Based on the technology, the AI in the insurance market has been segmented into natural language processing (NLP), machine vision, machine learning, robotic automation, and deep learning.
- On the basis of component, the AI in the insurance market has been segmented into software, hardware, and services.
- Based on the deployments, the AI in the insurance market has been segmented into on-premise and on-cloud. T
- he application-based segmentation of the AI in the insurance market includes personalized recommendation, risk management, and compliance, claims processing, chat bots, and others.
- By the sector, the AI in the insurance market has been segmented into health insurance, life insurance, title insurance, auto insurance, and others.
Detailed Regional Analysis:
The regional evaluation of the AI in the insurance market includes regions such as Europe, the Middle East, South America, Asia-Pacific, North America, and Africa. The regional market in North America presently leads the global market.
The US is credited for the biggest market share due to an extremely skilled workforce in enterprises and research & development ability, intended at developing AI technologies for insurance process quality. The European region comes second in the global market due to the growing adoption of digital technologies to automate business processes is inspiring the market growth in the European region.
The Asia-Pacific regional market is expected to be the fastest-growing region in the forecast period. The AI in insurance market in the Middle Eastern & African and South American regions is also anticipated to develop at a considerable rate throughout the forecast period.
Competitive Analysis:
The stress on enhancing the production potential and upgradation of the workforce are the top priorities to reinvigorate the development potential of the market in the coming period. The competitors present in the market are recalibrating their market share to open up new areas of development in the market. The establishment of robust distribution channels is estimated to define the development of the market in the future. The investment in robotic elements in the supply chain is estimated to be seen in the future to reduce the impact of the human capital on the long term market expansion. The state of the market is extremely indecisive due to the effect of the macro factors operating in the global economy. The road to the resurgence of the market is estimated to be extensive and arduous due to the degree of setbacks it has suffered. The prospects for growth in the market have to be carefully sought out and examined to ensure that they will ensure the favorable development of the market in the coming period.
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Continued…
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List of Tables
Table1 Global AI In Insurance Market, By Country, 2019–2025
Table2 North America: AI In Insurance Market, By Country, 2019–2025
Table3 Europe: AI In Insurance Market. By Country, 2019–2025
Table4 Asia-Pacific: AI In Insurance Market By Country, 2019–2025
Table5 North America: AI In Insurance Market, By Country
Continued…
List of Figures
Figure 1 Global Ai In Insurance Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of The Global Ai In Insurance Market
Figure 4 Value Chain of Global Ai In Insurance Market
Figure 5 Share of The Ai In Insurance Market In 2018, By Country (In %)
Continued…
About Market Research Future
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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