Insurtech Market Size, Share, Trends, Forecast and Analysis of Key players 2026

The global insurtech market exhibited strong growth during 2015-2020 and expected to grew at a CAGR of around 15% during the next five years.
 
NEW YORK - Jan. 19, 2022 - PRLog -- The global insurtech market exhibited strong growth during 2015-2020 and expected to grew at a CAGR of around 15% during the next five years.

Insurtech, a technologically innovative solution, is extensively deployed to optimize insurance companies' performance. It is utilized for performing advanced data analytics, consumer insights, minimizing costs, and improving the overall customer experience. Insurtech widely employs artificial intelligence (AI), cloud computing, and the internet of things (IoT), for predicting consumer requirements.

Insurtech Market Trends:

The rapid digitalization and significant expansion in the banking, financial servicing, and insurance (BFSI) sectors are primarily driving the marketgrowth. The market is also being driven by the introduction of advanced technological solutions for enhancing the client communications and the implementation of automated processes efficiently. In addition to this, the rising demand for the availability of customized insurance policies on various smartphone applications and online platforms is contributing to the market growth. Other factors, such as the widespread adoption of insurtech solutions for streamlining claim processing proceedings are creating a positive outlook for the market further across the globe.

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Global Insurtech Market 2021-2026 Analysis and Segmentation:

The report has segmented the market on the based on region, type, service and technology.

Breakup by Type:
  • Auto
  • Business
  • Health
  • Home
  • Specialty
  • Travel
  • Others

Breakup by Service:
  • Consulting
  • Support and Maintenance
  • Managed Services

Breakup by Technology:
  • Blockchain
  • Cloud Computing
  • IoT
  • Machine Learning
  • Robo Advisory
  • Others

Breakup by Region:
  • North America:(United States, Canada
  • Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia,Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia,Others)
  • Latin America;(Brazil,Mexico, Others)
  • Middle East and Africa

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