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Insurance Analytics - Market Analysis, Trends, and Forecasts

  • ID: 4805968
  • Report
  • February 2020
  • Region: Global
  • 147 pages
  • Global Industry Analysts, Inc
1 of 3

FEATURED COMPANIES

  • APPLIED SYSTEMS INC.
  • BIRST
  • BOARD INTERNATIONAL
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • MORE
Insurance Analytics market worldwide is projected to grow by US$8.3 Billion, driven by a compounded growth of 12.6%. Claims Management, one of the segments analyzed and sized in this study, displays the potential to grow at over 12.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$4.9 Billion by the year 2025, Claims Management will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 13.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$333.1 Million to the region's size and clout in the next 5 to 6 years. Over US$398.8 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Claims Management will reach a market size of US$432.9 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 12.5% over the next couple of years and add approximately US$1.5 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others,
  • Applied Systems Inc.
  • Birst, Inc.
  • BOARD International
  • Bridgei2i Analytics Solutions
  • Guidewire Software, Inc.
  • Hexaware Technologies Ltd.
  • IBM Corporation
  • LexisNexis Group Inc.
  • Microsoft Corporation
  • MicroStrategy, Inc.
  • OpenText Corporation
  • Oracle Corporation
  • Palantir Technologies
  • Pegasystems, Inc.
  • Prads Inc.
  • Qlik Technologies, Inc.
  • Salesforce.com, Inc.
  • SAP SE
  • SAS Institute, Inc.
  • Tableau Software, Inc.
  • TIBCO Software, Inc.
  • Verisk Analytics, Inc.
  • Vertafore, Inc.
Note: Product cover images may vary from those shown
2 of 3

FEATURED COMPANIES

  • APPLIED SYSTEMS INC.
  • BIRST
  • BOARD INTERNATIONAL
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • MORE

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Increasing Demand for Digitalization, Advanced Analytics, Automation and AI in Insurance Sector Drives Growth for Insurance Analytics Market

On-Demand Insurance Goes Mainstream

Competition

Leading Insurance Software Vendors in the Global Insurance Analytics Market

Global Insurance Market for the Year 2019: Percentage Share Breakdown of Value Sales by Leading Vendors

Global Competitor Market Shares

Insurance Analytics Competitor Market Share Scenario Worldwide (in %): 2019 & 2025

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Rapid Shift from Report-Driven Strategy to Data-Driven Decision Making in the Insurance Sector Propels Growth for Insurance Analytics

Global Internet Data Generated Per Minute by Various Apps for the Year 2018

Fast Adoption of Advanced Insurance Analytics Techniques: An Opportunity Indicator

Global Big Data Market: Revenues in US$ Billion by Segment for the Years 2019 and 2025

Increasing Demand for Innovative Insurance Analytics Tools and Services Lead to Growth

Growth in Adoption of AI and IoT in Insurance Sector Augurs Well for Insurance Analytics Market

Global IoT Connected Devices Market: Breakdown of Installed Base in Billion for the Years from 2015, 2018, 2021, and 2024

Global AI Market: Revenues in US$ Billion for the Years 2015, 2018, 2021, 2024

Consumer IoT Offers Significant Growth Opportunities for Insurance Analytics Market

Global IoT Market: Spending in US$ Billion by Segment for the Year 2019

IoT Faces Data Management, Security and Ownership Challenges in Insurance Analytics Market

Product Overview

Insurance Analytics: An Introduction

Insurance Analytics: Business Applications

Process Optimization

Risk Management

Customer Management and Personalization

Claims Management

Insurance Analytics by Type

On-Demand Insurance

On-Premise Insurance

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Insurance Analytics Global Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025

TABLE 2: Insurance Analytics Market Share Shift across Key Geographies Worldwide: 2019 VS 2025

TABLE 3: Claims Management (Business Application) World Market by Region/Country in US$ Million: 2018 to 2025

TABLE 4: Claims Management (Business Application) Market Share Breakdown of Worldwide Sales by Region/Country: 2019 VS 2025

TABLE 5: Risk Management (Business Application) Potential Growth Markets Worldwide in US$ Million: 2018 to 2025

TABLE 6: Risk Management (Business Application) Market Sales Breakdown by Region/Country in Percentage: 2019 VS 2025

TABLE 7: Customer Management and Personalization (Business Application) Geographic Market Spread Worldwide in US$ Million: 2018 to 2025

TABLE 8: Customer Management and Personalization (Business Application) Market Share Distribution in Percentage by Region/Country: 2019 VS 2025

TABLE 9: Process Optimization (Business Application) World Market Estimates and Forecasts by Region/Country in US$ Million: 2018 to 2025

TABLE 10: Process Optimization (Business Application) Market Share Breakdown by Region/Country: 2019 VS 2025

TABLE 11: On-premises (Deployment) World Market by Region/Country in US$ Million: 2018 to 2025

TABLE 12: On-premises (Deployment) Market Share Distribution in Percentage by Region/Country: 2019 VS 2025

TABLE 13: On-demand (Deployment) World Market Estimates and Forecasts in US$ Million by Region/Country: 2018 to 2025

TABLE 14: On-demand (Deployment) Market Percentage Share Distribution by Region/Country: 2019 VS 2025

TABLE 15: Insurance Companies (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2018-2025

TABLE 16: Insurance Companies (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2019 VS 2025

TABLE 17: Government Agencies (End-Use) Worldwide Sales in US$ Million by Region/Country: 2018-2025

TABLE 18: Government Agencies (End-Use) Market Share Shift across Key Geographies: 2019 VS 2025

TABLE 19: Third-party Administrators, Brokers, and Consultancies (End-Use) Global Market Estimates & Forecasts in US$ Million by Region/Country: 2018-2025

TABLE 20: Third-party Administrators, Brokers, and Consultancies (End-Use) Market Share Breakdown by Region/Country: 2019 VS 2025

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Insurance Analytics Market Share (in %) by Company: 2019 & 2025

Market Analytics

TABLE 21: United States Insurance Analytics Market Estimates and Projections in US$ Million by Business Application: 2018 to 2025

TABLE 22: United States Insurance Analytics Market Share Breakdown by Business Application: 2019 VS 2025

TABLE 23: Insurance Analytics Market in US$ Million in the United States by Deployment: 2018-2025

TABLE 24: United States Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 25: United States Insurance Analytics Latent Demand Forecasts in US$ Million by End-Use: 2018 to 2025

TABLE 26: Insurance Analytics Market Share Breakdown in the United States by End-Use: 2019 VS 2025

CANADA

TABLE 27: Canadian Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2018 to 2025

TABLE 28: Insurance Analytics Market in Canada: Percentage Share Breakdown of Sales by Business Application for 2019 and 2025

TABLE 29: Insurance Analytics Market Analysis in Canada in US$ Million by Deployment: 2018-2025

TABLE 30: Canadian Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 31: Canadian Insurance Analytics Market Quantitative Demand Analysis in US$ Million by End-Use: 2018 to 2025

TABLE 32: Canadian Insurance Analytics Market Share Analysis by End-Use: 2019 VS 2025

JAPAN

TABLE 33: Japanese Market for Insurance Analytics: Annual Sales Estimates and Projections in US$ Million by Business Application for the Period 2018-2025

TABLE 34: Japanese Insurance Analytics Market Share Analysis by Business Application: 2019 VS 2025

TABLE 35: Japanese Medium & Long-Term Outlook for Insurance Analytics Market in US$ Million by Deployment: 2018-2025

TABLE 36: Japanese Insurance Analytics Market Percentage Share Distribution by Deployment: 2019 VS 2025

TABLE 37: Japanese Demand Estimates and Forecasts for Insurance Analytics in US$ Million by End-Use: 2018 to 2025

TABLE 38: Insurance Analytics Market Share Shift in Japan by End-Use: 2019 VS 2025

CHINA

TABLE 39: Chinese Insurance Analytics Market Growth Prospects in US$ Million by Business Application for the Period 2018-2025

TABLE 40: Chinese Insurance Analytics Market by Business Application: Percentage Breakdown of Sales for 2019 and 2025

TABLE 41: Insurance Analytics Market Estimates and Forecasts in China in US$ Million by Deployment: 2018-2025

TABLE 42: Insurance Analytics Market in China: Percentage Share Analysis by Deployment for 2019 and 2025

TABLE 43: Chinese Demand for Insurance Analytics in US$ Million by End-Use: 2018 to 2025

TABLE 44: Chinese Insurance Analytics Market Share Breakdown by End-Use: 2019 VS 2025

EUROPE

Market Facts & Figures

European Insurance Analytics Market: Competitor Market Share Scenario (in %) for 2019 & 2025

Market Analytics

TABLE 45: European Insurance Analytics Market Demand Scenario in US$ Million by Region/Country: 2018-2025

TABLE 46: European Insurance Analytics Market Share Shift by Region/Country: 2019 VS 2025

TABLE 47: European Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2018-2025

TABLE 48: European Insurance Analytics Market Share Breakdown by Business Application: 2019 VS 2025

TABLE 49: European Insurance Analytics Market Assessment in US$ Million by Deployment: 2018-2025

TABLE 50: Insurance Analytics Market in Europe: Percentage Breakdown of Sales by Deployment for 2019 and 2025

TABLE 51: European Insurance Analytics Addressable Market Opportunity in US$ Million by End-Use: 2018-2025

TABLE 52: European Insurance Analytics Market Share Analysis by End-Use: 2019 VS 2025

FRANCE

TABLE 53: Insurance Analytics Market in France by Business Application: Estimates and Projections in US$ Million for the Period 2018-2025

TABLE 54: French Insurance Analytics Market Share Analysis by Business Application: 2019 VS 2025

TABLE 55: French Insurance Analytics Market Estimates and Projections in US$ Million by Deployment: 2018-2025

TABLE 56: French Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 57: Insurance Analytics Quantitative Demand Analysis in France in US$ Million by End-Use: 2018-2025

TABLE 58: French Insurance Analytics Market Share Analysis: A 7-Year Perspective by End-Use for 2019 and 2025

GERMANY

TABLE 59: Insurance Analytics Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Business Application for the Period 2018-2025

TABLE 60: German Insurance Analytics Market Share Breakdown by Business Application: 2019 VS 2025

TABLE 61: German Insurance Analytics Latent Demand Forecasts in US$ Million by Deployment: 2018-2025

TABLE 62: German Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 63: Insurance Analytics Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by End-Use for the Period 2018-2025

TABLE 64: Insurance Analytics Market Share Distribution in Germany by End-Use: 2019 VS 2025

ITALY

TABLE 65: Italian Insurance Analytics Market Growth Prospects in US$ Million by Business Application for the Period 2018-2025

TABLE 66: Italian Insurance Analytics Market by Business Application: Percentage Breakdown of Sales for 2019 and 2025

TABLE 67: Insurance Analytics Market Estimates and Forecasts in Italy in US$ Million by Deployment: 2018-2025

TABLE 68: Insurance Analytics Market in Italy: Percentage Share Analysis by Deployment for 2019 and 2025

TABLE 69: Italian Demand for Insurance Analytics in US$ Million by End-Use: 2018 to 2025

TABLE 70: Italian Insurance Analytics Market Share Breakdown by End-Use: 2019 VS 2025

UNITED KINGDOM

TABLE 71: United Kingdom Market for Insurance Analytics: Annual Sales Estimates and Projections in US$ Million by Business Application for the Period 2018-2025

TABLE 72: United Kingdom Insurance Analytics Market Share Analysis by Business Application: 2019 VS 2025

TABLE 73: United Kingdom Medium & Long-Term Outlook for Insurance Analytics Market in US$ Million by Deployment: 2018-2025

TABLE 74: United Kingdom Insurance Analytics Market Percentage Share Distribution by Deployment: 2019 VS 2025

TABLE 75: United Kingdom Demand Estimates and Forecasts for Insurance Analytics in US$ Million by End-Use: 2018 to 2025

TABLE 76: Insurance Analytics Market Share Shift in the United Kingdom by End-Use: 2019 VS 2025

REST OF EUROPE

TABLE 77: Rest of Europe Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2018-2025

TABLE 78: Rest of Europe Insurance Analytics Market Share Breakdown by Business Application: 2019 VS 2025

TABLE 79: Rest of Europe Insurance Analytics Market Assessment in US$ Million by Deployment: 2018-2025

TABLE 80: Insurance Analytics Market in Rest of Europe: Percentage Breakdown of Sales by Deployment for 2019 and 2025

TABLE 81: Rest of Europe Insurance Analytics Addressable Market Opportunity in US$ Million by End-Use: 2018-2025

TABLE 82: Rest of Europe Insurance Analytics Market Share Analysis by End-Use: 2019 VS 2025

ASIA-PACIFIC

TABLE 83: Insurance Analytics Market in Asia-Pacific by Business Application: Estimates and Projections in US$ Million for the Period 2018-2025

TABLE 84: Asia-Pacific Insurance Analytics Market Share Analysis by Business Application: 2019 VS 2025

TABLE 85: Asia-Pacific Insurance Analytics Market Estimates and Projections in US$ Million by Deployment: 2018-2025

TABLE 86: Asia-Pacific Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 87: Insurance Analytics Quantitative Demand Analysis in Asia-Pacific in US$ Million by End-Use: 2018-2025

TABLE 88: Asia-Pacific Insurance Analytics Market Share Analysis: A 7-Year Perspective by End-Use for 2019 and 2025

REST OF WORLD

TABLE 89: Rest of World Insurance Analytics Market Estimates and Forecasts in US$ Million by Business Application: 2018 to 2025

TABLE 90: Insurance Analytics Market in Rest of World: Percentage Share Breakdown of Sales by Business Application for 2019 and 2025

TABLE 91: Insurance Analytics Market Analysis in Rest of World in US$ Million by Deployment: 2018-2025

TABLE 92: Rest of World Insurance Analytics Market Share Breakdown by Deployment: 2019 VS 2025

TABLE 93: Rest of World Insurance Analytics Market Quantitative Demand Analysis in US$ Million by End-Use: 2018 to 2025

TABLE 94: Rest of World Insurance Analytics Market Share Analysis by End-Use: 2019 VS 2025

IV. COMPETITION

APPLIED SYSTEMS INC.

BOARD INTERNATIONAL

BRIDGEI2I ANALYTICS SOLUTIONS

BIRST

GUIDEWIRE SOFTWARE

HEXAWARE TECHNOLOGIES

IBM CORPORATION

LEXISNEXIS GROUP

MICROSTRATEGY

MICROSOFT CORPORATION

OPENTEXT CORPORATION

ORACLE CORPORATION

PALANTIR TECHNOLOGIES

PEGASYSTEMS

PRADS INC.

QLIK TECHNOLOGIES, INC.

SAP SE

SAS INSTITUTE

SALESFORCE.COM

TIBCO SOFTWARE

TABLEAU SOFTWARE

VERISK ANALYTICS

VERTAFORE

V. CURATED RESEARCH

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  • APPLIED SYSTEMS INC.
  • BOARD INTERNATIONAL
  • BRIDGEI2I ANALYTICS SOLUTIONS
  • BIRST
  • GUIDEWIRE SOFTWARE
  • HEXAWARE TECHNOLOGIES
  • IBM CORPORATION
  • LEXISNEXIS GROUP
  • MICROSTRATEGY
  • MICROSOFT CORPORATION
  • OPENTEXT CORPORATION
  • ORACLE CORP
Note: Product cover images may vary from those shown
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