Insurance Analytics Market Overview

The total global market for the “Insurance Analytics Market”size was valued at US$ 11.71 Bn. in 2022 and the total revenue is expected to grow at 15.4 % through 2023 to 2029, reaching nearly US$ 31.92 Bn. The report analyzed by Maximize Market Research, on the Insurance Analytics market, covers an extensive regional analysis and competitive landscape.

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Insurance Analytics Market Report Scope and Research Methodology

The report covers insights into the major drivers, challenges, and major restraints of the Insurance Analytics Market. The Insurance Analytics Market report includes current trends and market highlights, assisting clients in exploring lucrative opportunities in the market.  During the forecast period, the report covers market size with estimations and growth rates. To understand market penetration, competitive structure, pricing, and demand analysis, regional market analysis is carried out at the local, regional, and global levels.

Dynamics of the Global Insurance Analytics Market:

Technology and infrastructure are made available by insurance analytics to process and analyse data and develop decision-making skills. As the market gets more competitive, businesses are being pressured to update their antiquated business models, simplify operations, and enhance procedures. Furthermore, it is anticipated that the need for analytics solutions would grow as digital infrastructure develops and evidence of fraud in the insurance sector surface. Worldwide changes in financial legislation and policies are forcing insurance companies to use analytics to manage their operations.

 

Insurance Analytics Market Segmentation

by Component

Tools
Services

by Application

Claims Management
Risk Management
Customer Management and Personalization
Process Optimization
Others

The worldwide insurance analytics market is divided into several segments based on the kind of application, including Claims Management, Risk Management, Customer Management and Personalization, Process Optimisation, and Others. In 2021, the segment with the biggest market share was risk management. Institutional investors can get an automated result for improved decision-making by using insurance analytics for risk management. Additionally, it reveals a hidden trend in the data and offers perceptions into impending dangers, enabling insurers to take preventative measures against risk. The demand for the risk management market will be fueled by these factors. In order to predict possible market risks and put countermeasures in place to reduce losses, insurers must appropriately use their data to advance industry development. The growing need for data leveraging is anticipated to propel the market even further.

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Insurance Analytics Market Key Players

1. SAPiens International
2. Palantir
3. Lexisnexis
4. Tibco Software
5. Birst Applied Systems
6. Board International
7. Mitchell International
8. Bridgei2i
9. Qlik Prads Inc.
10.Vertafore
11.Microsoft
12.SAP
13.Oracle
14.Salesforce
15.SAS Institute
16.Opentext
17.Tableau Software
18.Verisk Analytics
19.Pegasystems
20.Guidewire
21.Hexaware
22.Microstrategy

Insurance Analytics Market Regional Insights

The report includes a thorough analysis of all the factors, market size, growth rate, and import and export in regions. The Regional Analysis used in the report to understand the Insurance Analytics market status in various countries. The Insurance Analytics market is broadly segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

The table of content for the Insurance Analytics Market includes the:

Part 01: Executive Summary

Part 02: Scope of the Insurance Analytics Market Report

Part 03: Global Insurance Analytics Market Landscape

Part 04: Global Insurance Analytics Market Sizing

Part 05: Global Insurance Analytics Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2022)
  • Past Pricing and price curve by region (2018 to 2022)
  • Market Size, Share, Size & Forecast by different segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by segment with their sub-segments and Region
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of Business by Region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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