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Europe Insurtech Market Size, Share & Industry Trends Analysis Report By Component, By End-use, By Technology, By Type, By Country and Growth Forecast, 2021-2027

  • ID: 5590438
  • Report
  • March 2022
  • Region: Europe
  • 120 Pages
  • Marqual IT Solutions Pvt. Ltd (KBV Research)

FEATURED COMPANIES

  • Damco Group
  • DXC Technology Company
  • Majesco
  • Oscar Health, Inc.
  • OutSystems
  • Quantemplate, Inc.
The Europe Insurtech Market is expected to witness market growth of 47.9% CAGR during the forecast period (2021 2027).

Insurtech refers to the use of new technology to improve the insurance sector by lowering costs for consumers and insurance firms while improving customer experience. Additionally, customers may study, compare products, and buy insurance online without having to visit a local agent due to the use of Insurtech. Furthermore, insurtech companies have simplified the process of purchasing all sorts of insurance by providing quicker and more convenient solutions.

A number of insurtech firms are forming agreements with insurance firms to provide blockchain-based solutions. For example, Amodo, an insurtech firm, formed a relationship with Galileo Platforms Limited, a technology firm, in December 2020. The companies is expected to leverage blockchain technologies to enable insurance companies to deliver new insurance products and alter their client experience as a result of their relationship. Cryptocurrency-based payments are becoming more widely accepted by insurance providers. For example, Metromile, an auto insurance business, stated in December 2021 that subscribers is expected to be able to pay premiums and claim payouts using bitcoin. This initiative should assist the organization to improve its market position.

The insurance business in the United Kingdom is undergoing significant transformation. The general insurance industry in the United Kingdom is intensely competitive, but it is plagued by low profitability, which is exacerbated by the prevalence of online distribution channels. In addition, insurers acknowledge that emerging technologies are transforming their consumers' everyday lives. They also acknowledge that this transition is having an impact on their own industry, which is experiencing an ecosystem disruption brought on by both new entrants and established competitors. As a result, insurers are under increasing pressure to innovate and redefine themselves before the disruption has a negative impact on their bottom line.

FinTech businesses are revolutionizing the banking industry, and now the insurance industry is embracing the digital revolution. For millennials and other customers who have become accustomed to managing their entire financial lives through their mobile devices, insurance is just another aspect of their finances that can be managed through an app on their phone. Real-time interaction and online access to services handled across their mobile and personal devices are now expected.

The Germany market dominated the Europe Insurtech Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $2,768.4 million by 2027. The UK market is estimated to witness a CAGR of 46.7% during (2021 - 2027). Additionally, The France market is expected to exhibit a CAGR of 49% during (2021 - 2027).

Based on Component, the market is segmented into Solution and Services (Managed Services, Consulting, and Support & Maintenance). Based on End-use, the market is segmented into BFSI, Automotive, Healthcare, Retail & eCommerce, Government & Defense, Transportation, Manufacturing, and Others. Based on Technology, the market is segmented into Cloud Computing, IoT & Machine Learning, Blockchain, Robo Advisory, and Others. Based on Type, the market is segmented into Health, Specialty, Travel, Auto, Home, and Business & Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, DXC Technology Company, Oscar Health, Inc., Majesco, Insurance Technology Services, OutSystems, Shift Technology, Quantemplate, Inc., and Damco Group.

Scope of the Study


Market Segments Covered in the Report:


By Component

  • Solution
  • Services
  • Managed Services
  • Consulting
  • Support & Maintenance


By End-use

  • BFSI
  • Automotive
  • Healthcare
  • Retail & eCommerce
  • Government & Defense
  • Transportation
  • Manufacturing
  • Others

By Technology

  • Cloud Computing
  • IoT & Machine Learning
  • Blockchain
  • Robo Advisory
  • Others

By Type

  • Health
  • Specialty
  • Travel
  • Auto
  • Home
  • Business & Others

By Country

  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe

Key Market Players


List of Companies Profiled in the Report:

  • Wipro Limited
  • DXC Technology Company
  • Oscar Health, Inc.
  • Majesco
  • Insurance Technology Services
  • OutSystems
  • Shift Technology
  • Quantemplate, Inc.
  • Damco Group

Unique Offerings from the publisher

  • Exhaustive coverage
  • The highest number of market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Damco Group
  • DXC Technology Company
  • Majesco
  • Oscar Health, Inc.
  • OutSystems
  • Quantemplate, Inc.

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Insurtech Market, by Component
1.4.2 Europe Insurtech Market, by End-use
1.4.3 Europe Insurtech Market, by Technology
1.4.4 Europe Insurtech Market, by Type
1.4.5 Europe Insurtech Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Publisher Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Sep – 2022, Mar) Leading Players
Chapter 4. Europe Insurtech Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Services Market by Country
4.3 Europe Insurtech Market by Services Type
4.3.1 Europe Managed Services Market by Country
4.3.2 Europe Consulting Market by Country
4.3.3 Europe Support & Maintenance Market by Country
Chapter 5. Europe Insurtech Market by End-use
5.1 Europe BFSI Market by Country
5.2 Europe Automotive Market by Country
5.3 Europe Healthcare Market by Country
5.4 Europe Retail & eCommerce Market by Country
5.5 Europe Government & Defense Market by Country
5.6 Europe Transportation Market by Country
5.7 Europe Manufacturing Market by Country
5.8 Europe Others Market by Country
Chapter 6. Europe Insurtech Market by Technology
6.1 Europe Cloud Computing Market by Country
6.2 Europe IoT & Machine Learning Market by Country
6.3 Europe Blockchain Market by Country
6.4 Europe Robo Advisory Market by Country
6.5 Europe Others Market by Country
Chapter 7. Europe Insurtech Market by Type
7.1 Europe Health Market by Country
7.2 Europe Specialty Market by Country
7.3 Europe Travel Market by Country
7.4 Europe Auto Market by Country
7.5 Europe Home Market by Country
7.6 Europe Business & Others Market by Country
Chapter 8. Europe Insurtech Market by Country
8.1 Germany Insurtech Market
8.1.1 Germany Insurtech Market by Component
8.1.1.1 Germany Insurtech Market by Services Type
8.1.2 Germany Insurtech Market by End-use
8.1.3 Germany Insurtech Market by Technology
8.1.4 Germany Insurtech Market by Type
8.2 UK Insurtech Market
8.2.1 UK Insurtech Market by Component
8.2.1.1 UK Insurtech Market by Services Type
8.2.2 UK Insurtech Market by End-use
8.2.3 UK Insurtech Market by Technology
8.2.4 UK Insurtech Market by Type
8.3 France Insurtech Market
8.3.1 France Insurtech Market by Component
8.3.1.1 France Insurtech Market by Services Type
8.3.2 France Insurtech Market by End-use
8.3.3 France Insurtech Market by Technology
8.3.4 France Insurtech Market by Type
8.4 Russia Insurtech Market
8.4.1 Russia Insurtech Market by Component
8.4.1.1 Russia Insurtech Market by Services Type
8.4.2 Russia Insurtech Market by End-use
8.4.3 Russia Insurtech Market by Technology
8.4.4 Russia Insurtech Market by Type
8.5 Spain Insurtech Market
8.5.1 Spain Insurtech Market by Component
8.5.1.1 Spain Insurtech Market by Services Type
8.5.2 Spain Insurtech Market by End-use
8.5.3 Spain Insurtech Market by Technology
8.5.4 Spain Insurtech Market by Type
8.6 Italy Insurtech Market
8.6.1 Italy Insurtech Market by Component
8.6.1.1 Italy Insurtech Market by Services Type
8.6.2 Italy Insurtech Market by End-use
8.6.3 Italy Insurtech Market by Technology
8.6.4 Italy Insurtech Market by Type
8.7 Rest of Europe Insurtech Market
8.7.1 Rest of Europe Insurtech Market by Component
8.7.1.1 Rest of Europe Insurtech Market by Services Type
8.7.2 Rest of Europe Insurtech Market by End-use
8.7.3 Rest of Europe Insurtech Market by Technology
8.7.4 Rest of Europe Insurtech Market by Type
Chapter 9. Company Profiles
9.1 Wipro Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.2 DXC Technology Company
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.3 Oscar Health, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Recent strategies and developments:
9.3.3.1 Partnerships, Collaborations, and Agreements:
9.4 Majesco
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Partnerships, Collaborations, and Agreements:
9.4.2.2 Product Launches and Product Expansions:
9.4.2.3 Acquisition and Mergers:
9.5 Insurance Technology Services (ITS)
9.5.1 Company Overview
9.6 OutSystems
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Partnerships, Collaborations, and Agreements:
9.6.2.2 Geographical Expansions:
9.7 Shift Technology
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.8 Quantemplate, Inc.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 Damco Group
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:
Note: Product cover images may vary from those shown
  • Wipro Limited
  • DXC Technology Company
  • Oscar Health, Inc.
  • Majesco
  • Insurance Technology Services
  • OutSystems
  • Shift Technology
  • Quantemplate, Inc.
  • Damco Group
Note: Product cover images may vary from those shown

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