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Insurtech Market To Register Growth At A CAGR of 43% By 2025 Due To Rising Need of Digitalization For Enhancing Transactions And Functionality of Insurance Claims | Million Insights

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Insurtech Market To Register Growth At A CAGR of 43% By 2025 Due To Rising Need of Digitalization For Enhancing Transactions And Functionality of Insurance Claims | Million Insights

February 23
06:40 2021
Insurtech Market To Register Growth At A CAGR of 43% By 2025 Due To Rising Need of Digitalization For Enhancing Transactions And Functionality of Insurance Claims | Million Insights

Million Insights – World’s Fastest Growing Market Research Database
According to new report available with Million Insights, the global InsurTech Industry report offers the most up-to-date data on current market scenario, trends and future outlook. This study provides numerous opportunities for market players to invest for research and development in the market.

The global Insurtech Market size is anticipated to value USD 16.8 billion until 2025. It is also expected to register a CAGR of 43.0% over the forecasted years, 2019 to 2025. The rising usage of advanced technologies like AI (Artificial Intelligence) and ML (Machine Learning) across many insurance companies for targeting customers and maintaining their records is projected to drive market growth.

The cloud computing technology segment is projected to witness significant growth due to rising consumer demand for hybrid and customized services related to insurance. While the blockchain technological segment is anticipated to register 44.9% CAGR from 2019 to 2025 due to the need for enhancing operational speed and transparency in the process of insurance claims. 

To download the sample PDF of “Insurtech Market Report” please click here: https://www.millioninsights.com/industry-reports/global-insurtech-market/request-sample

U.S. insurtech market size

The BFSI end-use segment dominated the global market in 2018 on account of the increasing deployment of several digital platforms across banking sectors and financial institutions. While the healthcare segment is projected to register the highest CAGR owing to rising concerns regarding health prevailing among the millennial population.

In 2018, North America dominated the global market due to the increasing number of service providers across this region. While the Asia Pacific is anticipated to register substantial growth over the forecasted years owing to the rising number of insurance companies across this region coupled with their attractive offerings for customer engagement across countries like China and India.

The Insurtech market includes key players such as Oscar Insurance, DXC Technology Company, Majesco, Damco Group, and Quantemplate. They are also engaged in product development and innovation. Also, they are implementing strategies like acquisitions and mergers to widen their global reach.

To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/industry-reports/global-insurtech-market

Europe insurtech market

Further key findings from the report suggest:

• The segment of managed services accounted for largest share across the global market in 2018.

• The blockchain technological segment is anticipated to register 44.9% CAGR over the forecasted years.

• In 2018, North America dominated the global market.

• The key players in this market are Oscar Insurance, DXC Technology Company, Majesco, Damco Group and Quantemplate.

Million Insights has segmented the global insurtech market based on type, service, technology, end use and region:

Insurtech Type Outlook (Revenue, USD Million, 2014 – 2025)
    • Auto
    • Business
    • Health
    • Home
    • Specialty
    • Travel
    • Others

Insurtech Service Outlook (Revenue, USD Million, 2014 – 2025)
    • Consulting
    • Support & Maintenance
    • Managed Services

Insurtech Technology Outlook (Revenue, USD Million, 2014 – 2025)
    • Blockchain
    • Cloud Computing
    • IoT
    • Machine Learning
    • Robo Advisory
    • Others

Insurtech End-use Outlook (Revenue, USD Million, 2014 – 2025)
    • Automotive
    • BFSI
    • Government
    • Healthcare
    • Manufacturing
    • Retail
    • Transportation
    • Others

Insurtech Regional Outlook (Revenue, USD Million, 2014 – 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa

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About Million Insights

Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

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