Insurance Analytics Market to 2027, Future Outlook, COVID-19 Impact Analysis, Forecast 2021-2027

 

The global insurance analytics market is projected to grow at a CAGR of around 12% during the forecast period. The market growth is characterized by the presence of key players operating in the market.

In March 2021, Oracle Insurance Policy Administration (OIPA) collaborated with ClearView Wealth Ltd. In this collaboration, ClearView selected OIPA to support its digital transformation journey. This collaboration is a part of broader technology investment by the company to modernize its systems & processes. ClearView will use these technologies to decrease their operation cost, fulfill their basic requirements and enhance the digital experience for both employees and customers.

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In January 2021, IBM collaborated with Thai Reinsurance Public Company Limited (Thai Re). In this collaboration, Thai Re introduced Insurer Network, a reinsurance smart contract production network utilizing IBM blockchain technology on IBM Cloud.

MicroStrategy partnered with Kyvos Insights in January 2021, a cloud and big data analytics company. In this, MicroStrategy built and introduced the latest Kyvos gateway connector with its new version MicroStrategy 2021. This connector is the next step in Kyvos and MicroStrategy’s partnership to assist companies to make the most out of their data and get quick business insights.

Microsoft also teamed up with Reliance General Insurance (RGI), a subsidiary of Reliance Capital. Under this collaboration, RGI boosted its vehicle claim process by releasing Rapid incorporated with image analytics powered by Microsoft Azure Cognitive Services and Azure Machine Learning capabilities. This end-to-end solution would help to offer a quick and effortless customer experience at the time of making vehicle claims.

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Market Coverage

·        The market number available for – 2020-2027

·        Base year- 2020

·        Forecast period- 2021-2027

·        Segment Covered-

o             By Application

o             By Deployment

o             By End-User

·        Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

·        Competitive Landscape- Hexaware Technologies, LexisNexis Risk Solutions, OpenText, Sapiens International, and Verisk Analytics, Inc.

Key Questions Addressed by the Report

·        What is the market growth rate?

·        Which segment and region dominate the market in the base year?

·        Which segment and region will project the fastest growth in the market?

·        How has COVID-19 impacted the market?

o             Deviation from the pre-COVID-19 forecast

o             Most affected region and segment

·        Who is the leader in the market?

·        How players are addressing challenges to sustain growth?

·        Where is the investment opportunity?

Global Insurance Analytics Market – Segmentation

By Application

·        Claims Management

·        Risk Management

·        Customer Management and Personalization

·        Process Optimization

·        Others

 By Deployment

·        On-premise

·        Cloud

By End-User

·        Insurance Companies

·        Government Agencies

·        Third-party Administrators, Brokers, & Consultancies

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Insurance Analytics Market– Segment by Region

North America          

·        United States

·        Canada

Europe

·        Germany

·        United Kingdom

·        France

·        Spain

·        Italy

·        Rest of Europe

Asia-Pacific   

·        China

·        Japan

·        India

·        Rest of Asia-Pacific

Rest of the World

·        Middle East & Africa

·        Latin America

Company Profiles

·        Applied Systems, Inc.

·        Aptitive

·        Board International SA

·        BRIDGEi2i

·        CyberCube Analytics Inc.

·        Damco Group

·        Hexaware Technologies Ltd.

·        IBM Corp.

·        InsuredMine Inc.

·        LexisNexis Risk Solutions Group

·        Luminant Analytics GmbH

·        OpenText Corp.

·        Pentation AnalyticsPvt Ltd.

·        Qlik International AB

·        RiskVille Ltd.

·        SAP SE

·        Sapiens International Corp.

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3.      Over 100+ paid data sources mined for investigation.

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