Insurance Analytics Market size was valued at US$ 8.80 Bn. in 2020 and the total revenue is expected to grow at 15.4 % through 2021 to 2027, reaching nearly US$ 23.98 Bn.
Insurance Analytics Market Definition:
MMR, market research and consulting organization, has released a new study titled “Insurance Analytics market – outlook to 2027”. Industries’ constant focus on reducing the operational cost and increased attention on core business, and the need to improve scalability are expected to shape the Insurance Analytics market to grow at a CAGR of %.
According to an Analyst at MMR, the Insurance Analytics market will experience significant growth during the forecast period due to potential opportunities lying in the market. The market drivers are:
COVID-19 Impact:
Our team is working on the COVID 19 impact on various industry verticals and provide authenticate data to the client this data helps us understand the market situation. To understand the influence and factors of the COVID 19 on the Insurance Analytics market with our expert monitoring which explains all the impacting factors and COVID impact on each key player are explained in the report.
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Insurance Analytics Market Segmentation:
The global insurance analytics market is divided into five sub-segments based on application: claims management, risk management, customer management and personalization, process optimization, and others. In 2020, the Risk Management sector had the highest market share, at xx percent. Institutional investors can utilise insurance analytics for risk management to get a pre-programmed answer that will help them make better choices. Additionally, it reveals a hidden pattern in the data and offers information on impending dangers, enabling insurers to take risk-aversion procedures. These elements will increase interest in the risk management market. Insurance companies must effectively utilise their data to forecast possible market hazards, put remedies in place to reduce losses, and ultimately foster sector development. The market is anticipated to be further fueled by the increase in demand for data leveraging.
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Insurance Analytics Market Key Players:
• SAPiens International • Palantir • Lexisnexis • Tibco Software • Birst Applied Systems • Board International • Mitchell International • Bridgei2i • Qlik Prads Inc. • Vertafore • Microsoft • SAP • Oracle • Salesforce • SAS Institute • Opentext • Tableau Software • Verisk Analytics • Pegasystems • Guidewire • Hexaware • Microstrategy
The report provides a detailed analysis and forecast of the industry covering the following key features:
Industry outlook includes current and future market drivers, restraints, trends, challenges, emerging technologies, and recent developments.
Key industry developments and key insights
Significant marketing factors such as driver, restraints, opportunity, and challenges
Number of significant companies and their revenue and net income
Other market trends
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