The Business Research Company’s Insurtech Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Insurtech Global Market Report 2023 evaluates insurtech market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global insurtech market is expected to grow from $29,745.4 million in 2026 at a CAGR of 29.8%, and to $144,636.3 million in 2031 at a CAGR of 37.2%.
The increase in insurance claims is expected to drive the growth of the insurtech market going forward. Insurtech is used to more effectively process claims, evaluate risk, process contracts or underwrite policies. The rise in the number of hospitalization cases during the Covid-19 pandemic has led to the increase in insurance claims. For example, in February 2022, according to The Print, an India-based online newspaper, in the first quarter of financial year 2021-22, 4,97,909 life insurance claims were settled, which increased to 9,56,846 in the second quarter. Additionally, according to a study by Digit Insurance, an India-based insurance company, health insurance claims surged over 3.5 times in 2021. Therefore, the increase in insurance claims is expected to drive the growth of the insurtech market during the forecast period.
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The insurtech market segments in the report are:
1) By Product: Health Insurance; Life Insurance; Travel Insurance; Car Insurance; Business Insurance; Home Insurance; Other Products
2) By Technology: Blockchain; Cloud Computing; IoT (Internet of Things); Artificial Intelligence; Big Data and Business Analytics; Other Technologies
3) By Offering: Solutions; Services
4) By Deployment: On-Premises; Cloud
5) By Application: Automotive Industry; Banking And Financial Services; Government Sector; Healthcare Industry; Manufacturing Industry; Retail Industry; Transportation; Other Applications
The table of contents in TBRC’s insurtech market report includes:
1.Executive Summary
2.Table of Contents
3.List of Figures
4.List of Tables
5.Report Structure
6.Introduction and Market Characteristics
7.Major Market Trends
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- Global Insurtech Market Opportunities And Strategies
22.Insurtech Market, Conclusions And Recommendations
23.Appendix
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