Insurance Analytics Market 2021-2027

Global Insurance Analytics Market Size, Share & Trends Analysis Report by Application (Claims Management, Risk Management, Customer Management, and Personalization, Process Optimization, and Others), By Deployment (On-premise and Cloud), By End-User (Insurance Companies, Government Agencies, and Third-party Administrators, Brokers, & Consultancies), and Forecast, 2020-2027

The global insurance analytics market is projected to grow at a CAGR of around 12% during the forecast period. The market is set to display impressive growth during the forecast period with some key trends emerging in the insurance industry such as the rising adoption of advanced analytics and data-driven decision-making techniques. Another factor responsible for the increasing adoption of IoT insurance and the growing acceptance of insurance analytics among small and medium-sized enterprises assured to offer many opportunities for the insurance analytics market players during the forecast period. 

The global insurance analytics market is segmented based on application, deployment, and end-users.  Based on the application, the market is segmented into claims management, risk management, customer management and personalization, process optimization, and others. Based on the deployment, the market is classified into on-premise and cloud. Based on End-Users Insurance Companies, Government Agencies, and Third-party Administrators, Brokers, & Consultancies. 

The global Insurance Analytics market is segmented on the basis of region into North America (the US and Canada), Europe (Germany, Spain, Italy, France, the UK, and the Rest of Europe), Asia-Pacific (India, China, Japan, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East and Africa, and Latin America). The North American region is estimated to command the largest share of the global insurance analytics market in 2019, followed by Europe. However, the Asia-Pacific region is expected to witness rapid growth during the forecast period. 

Further, Hexaware Technologies, LexisNexis Risk Solutions, OpenText, PEGASYSTEMS INC., Sapiens International, Tableau Software, LLC, and Verisk Analytics, Inc are some of the prominent players operating in the global insurance analytics market. New product launches & developments, partnerships, agreements, and acquisitions are some of the growth strategies adopted by the players in order to sustain in the highly competitive market.

Research Methodology

The market study of the global insurance analytics market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. The team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.

Secondary Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research papers, and news blogs
• Company websites and their product catalog

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Insurance Analytics Market Research and Analysis by Applications
2. Global Insurance Analytics Market Research and Analysis by Deployment
3. Global Insurance Analytics Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the global Insurance Analytics Market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global Insurance Analytics Market.
• Insights about market determinants that are stimulating the global insurance analytics market.
• Detailed and extensive market segments with regional distribution of forecast revenues.
• Extensive profiles and recent developments of the market players.