Global InsurTech Market Research Report Forecast to 2021-2026- MarkNtel Advisors

Global InsurTech Market Analysis, 2021

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Document Outline Table of Content Study Background, Market Segmentation, Scope of Work

Research Process & Methodology Research Approach, Research Methodology

Sample Illustration Global InsurTech Market Analysis, 2021

Commercials

Company Profile About the company

Contact Details

02

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62

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Market Segmentation

Global InsurTech Market

By Type •

Block chain

•

Cloud Computing

•

Internet of Things (IoT)

•

Machine Learning (ML)

•

Artificial Intelligence (AI)

•

Drones

By Application

By Company

• Life and Accident Insurance

•

Trov Inc.

• Health and Medical Insurance

•

Oscar Insurance

• P&C Insurance

•

Policy Bazaar

• Commercial Insurance

•

Quantemplate

• Insurance Administration and Risk

•

Clover Health

Consulting • Annuities

By Deployment

Insurance •

Tractable

•

Anorak Technologies

•

Majesco

By Region • North America • The US

• Others • Middle East & Africa

• Canada

• GCC Countries

• Mexico

• South Africa

• South America

• Asia Pacific

• Brazil

• China

• Others

• India

• Europe

• Japan

•

On-premise

•

Cytora Ltd.

• Germany

• South Korea

•

Cloud

•

Zhongan Insurance

• The UK

• Others

• France • Italy • Spain

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3

Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(1/12)

Table of Content 1.

Introduction 1.1. Product Definition 1.2. Research Process 1.3. Market Segmentation 1.4. Assumptions

2.

Preface

3.

Executive Summary

4.

Impact of COVID-19 on Global InsurTech Market

5.

Global InsurTech Market Outlook, 2016-2026F 5.1. Market Size & Analysis 5.1.1. By Revenues 5.2. Market Share & Analysis 5.2.1. By Type 5.2.1.1.

Block chain

5.2.1.2.

Cloud Computing

5.2.1.3.

Internet of Things (IoT)

5.2.1.4.

Machine Learning (ML)

5.2.1.5.

Artificial Intelligence (AI)

5.2.1.6.

Drones

5.2.2. By Deployment Mode

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(2/12)

Table of Content 5.2.2.1.

On-Premise

5.2.2.2.

Cloud

5.2.3. By Application 5.2.3.1.

Life and Accident Insurance

5.2.3.2.

Health and Medical Insurance

5.2.3.3.

P&C Insurance

5.2.3.4.

Commercial Insurance

5.2.3.5.

Insurance Administration and Risk Consulting

5.2.3.6.

Annuities

5.2.4. By Region 5.2.4.1.

North America

5.2.4.2.

South America

5.2.4.3.

Europe

5.2.4.4.

Middle East & Africa

5.2.4.5.

Asia-Pacific

5.2.5. By Company

6.

5.2.5.1.

Competition Characteristics

5.2.5.2.

Market Share & Analysis

5.2.5.3.

Competitive Matrix

North America InsurTech Market Outlook, 2016-2026F

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(3/12)

Table of Content 6.1. Market Size & Analysis 6.1.1. By Revenues 6.2. Market Share & Analysis 6.2.1. By Type 6.2.2. By Deployment Mode 6.2.3. By Application 6.2.4. By Country 6.2.4.1.

The US

6.2.4.2.

Canada

6.2.4.3.

Mexico

6.3. The US InsurTech Market Outlook, 2016-2026F 6.3.1. Market Size & Analysis 6.3.1.1.

By Revenues

6.3.2. Market Share & Analysis 6.3.2.1.

By Type

6.3.2.2.

By Deployment Mode

6.3.2.3.

By Application

6.4. Canada InsurTech Market Outlook, 2016-2026F 6.4.1. Market Size & Analysis 6.4.1.1.

By Revenues

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(4/12)

Table of Content 6.4.2. Market Share & Analysis 6.4.2.1.

By Type

6.4.2.2.

By Deployment Mode

6.4.2.3.

By Application

6.5. Mexico InsurTech Market Outlook, 2016-2026F 6.5.1. Market Size & Analysis 6.5.1.1.

By Revenues

6.5.2. Market Share & Analysis

7.

6.5.2.1.

By Type

6.5.2.2.

By Deployment Mode

6.5.2.3.

By Application

South America InsurTech Market Outlook, 2016-2026F 7.1. Market Size & Analysis 7.1.1. By Revenues 7.2. Market Share & Analysis 7.2.1. By Type 7.2.2. By Deployment Mode 7.2.3. By Application 7.2.4. By Country 7.2.4.1.

Brazil

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(5/12)

Table of Content 7.2.4.2.

Others

7.3. Brazil InsurTech Market Outlook, 2016-2026F 7.3.1. Market Size & Analysis 7.3.1.1.

By Revenues

7.3.2. Market Share & Analysis

8.

7.3.2.1.

By Type

7.3.2.2.

By Deployment Mode

7.3.2.3.

By Application

Europe InsurTech Market Outlook, 2016-2026F 8.1. Market Size & Analysis 8.1.1. By Revenues 8.2. Market Share & Analysis 8.2.1. By Type 8.2.2. By Deployment Mode 8.2.3. By Application 8.2.4. By Country 8.2.4.1.

Germany

8.2.4.2.

The UK

8.2.4.3.

France

8.2.4.4.

Italy

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(6/12)

Table of Content 8.2.4.5.

Spain

8.2.4.6.

Others

8.3. Germany InsurTech Market Outlook, 2016-2026F 8.3.1. Market Size & Analysis 8.3.1.1.

By Revenues

8.3.2. Market Share & Analysis 8.3.2.1.

By Type

8.3.2.2.

By Deployment Mode

8.3.2.3.

By Application

8.4. The UK InsurTech Market Outlook, 2016-2026F 8.4.1. Market Size & Analysis 8.4.1.1.

By Revenues

8.4.2. Market Share & Analysis 8.4.2.1.

By Type

8.4.2.2.

By Deployment Mode

8.4.2.3.

By Application

8.5. France InsurTech Market Outlook, 2016-2026F 8.5.1. Market Size & Analysis 8.5.1.1.

By Revenues

8.5.2. Market Share & Analysis

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(7/12)

Table of Content 8.5.2.1.

By Type

8.5.2.2.

By Deployment Mode

8.5.2.3.

By Application

8.6. Italy InsurTech Market Outlook, 2016-2026F 8.6.1. Market Size & Analysis 8.6.1.1.

By Revenues

8.6.2. Market Share & Analysis 8.6.2.1.

By Type

8.6.2.2.

By Deployment Mode

8.6.2.3.

By Application

8.7. Spain InsurTech Market Outlook, 2016-2026F 8.7.1. Market Size & Analysis 8.7.1.1.

By Revenues

8.7.2. Market Share & Analysis

9.

8.7.2.1.

By Type

8.7.2.2.

By Deployment Mode

8.7.2.3.

By Application

Middle East & Africa InsurTech Market Outlook, 2016-2026F 9.1. Market Size & Analysis 9.1.1. By Revenues

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(8/12)

Table of Content 9.2. Market Share & Analysis 9.2.1. By Type 9.2.2. By Deployment Mode 9.2.3. By Application 9.2.4. By Country 9.2.4.1.

GCC Countries

9.2.4.2.

South Africa

9.2.4.3.

Others

9.3. GCC InsurTech Market Outlook, 2016-2026F 9.3.1. Market Size & Analysis 9.3.1.1.

By Revenues

9.3.2. Market Share & Analysis 9.3.2.1.

By Type

9.3.2.2.

By Deployment Mode

9.3.2.3.

By Application

9.4. South Africa InsurTech Market Outlook, 2016-2026F 9.4.1. Market Size & Analysis 9.4.1.1.

By Revenues

9.4.2. Market Share & Analysis 9.4.2.1.

By Type

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(9/12)

Table of Content 9.4.2.2.

By Deployment Mode

9.4.2.3.

By Application

10. Asia-Pacific InsurTech Market Outlook, 2016-2026F 10.1.Market Size & Analysis 10.1.1. By Revenues 10.2.Market Share & Analysis 10.2.1. By Type 10.2.2. By Deployment Mode 10.2.3. By Application 10.2.4. By Country 10.2.4.1.

China

10.2.4.2.

India

10.2.4.3.

Japan

10.2.4.4.

South Korea

10.2.4.5.

Others

10.3. China InsurTech Market Outlook, 2016-2026F 10.3.1. Market Size & Analysis 10.3.1.1.

By Revenues

10.3.2. Market Share & Analysis 10.3.2.1.

By Type

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(10/12)

Table of Content 10.3.2.2.

By Deployment Mode

10.3.2.3.

By Application

10.4. India InsurTech Market Outlook, 2016-2026F 10.4.1. Market Size & Analysis 10.4.1.1.

By Revenues

10.4.2. Market Share & Analysis 10.4.2.1.

By Type

10.4.2.2.

By Deployment Mode

10.4.2.3.

By Application

10.5. Japan InsurTech Market Outlook, 2016-2026F 10.5.1. Market Size & Analysis 10.5.1.1.

By Revenues

10.5.2. Market Share & Analysis 10.5.2.1.

By Type

10.5.2.2.

By Deployment Mode

10.5.2.3.

By Application

10.6. South Korea InsurTech Market Outlook, 2016-2026F 10.6.1. Market Size & Analysis 10.6.1.1.

By Revenues

10.6.2. Market Share & Analysis

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(11/12)

Table of Content 10.6.2.1.

By Type

10.6.2.2.

By Deployment Mode

10.6.2.3.

By Application

11. Global InsurTech Market Dynamics 11.1.Growth Drivers 11.2.Challenges 11.3.Impact Analysis 12. Global InsurTech Market Policies, Regulations, Product Standards 13. Global InsurTech Market Trends & Insights 14. Global InsurTech Market Hotspot & Opportunities 15. Global InsurTech Market Key Strategic Imperatives for Success & Growth 16. Competition Outlook 16.1. Competition Matrix 16.1.1. Product/ Solution Portfolio 16.1.2. Target Markets 16.1.3. Target End Users 16.1.4. Research & Development 16.1.5. Strategic Alliances 16.1.6. Strategic Initiatives 16.2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)

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Study Background – Project Outline

Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

(12/12)

Table of Content 16.2.1. Trov, Inc. 16.2.2. Oscar Insurance 16.2.3. Policy Bazaar 16.2.4. Quantemplate 16.2.5. Clover Health Insurance 16.2.6. Tractable 16.2.7. Anorak Technologies 16.2.8. Majesco 16.2.9. Cytora Ltd. 16.2.10. Zhongan Insurance 17. Disclaimer

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Document Outline Table of Content Study Background, Market Segmentation, Scope of Work

Research Process & Methodology Research Approach, Research Methodology

Sample Illustration Global InsurTech Market Analysis, 2021

Commercials

Company Profile About the company

Contact Details

02

16

27

62

64

66

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Global InsurTech Market Start-Up Ecosystem

Global InsurTech Market Start-Up Ecosystem

(2/3)

Figure XX: Global InsurTech Market Number of Start-ups Launched/Registered, 2016-2021

2016

2017

2018

2019

2020

2021

2019

2020

2021

Figure XX: Global InsurTech Market Investment Trend By Investors, 2016-2021

2016

2017

2018 Tim Ventures

XX

XX.

XX,

XX..

Source: MarkNtel Advisors

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Global InsurTech Market Outlook, 2016-2026F

Global InsurTech Market, By Revenues

(1/1)

Figure XX: Global InsurTech Market Revenues (USD Million), 2016-2026F

CAGR: XX%

CAGR: XX% COVID-19 Impact

2016

2017

2018

2019

2020

2021F

2022F

2023F

2024F

2025F

2026F

Source: MarkNtel Advisors

Market Summary • The shift of insurance companies on improving communication with their clients and capabilities to implement automation processes has fuelled the InsurTech market globally. They are focusing on technological innovations particularly designed to improve the efficiency of the existing insurance industry model. These solutions have helped businesses to attain different approaches by broadening their offerings, such as offering social insurance and ultra-customized policies.

• For instance – in 2021, the German challenger bank launched its first insurance product, named N26 Insurance. It would allow its users to purchase coverage, manage plans and initiate claims for a range of insurance products all within the N26 app.

• The number of deals made had risen continuously during the past few years, owing to the increased preference for technological advancements, such as artificial intelligence, machine learning, and block chain technology in the insurance sector.

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Global InsurTech Market, By Type

(1/3)

Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Type, 2020 & 2026F Revenue Share (Percentage)

Revenues (USD Million), 2020-2026F

Block chain

CAGR- XX%

Cloud Computing

2020

Internet of Things (IoT) Machine Learning (ML)

2026

Artificial Intelligence (AI) Drones

2020 Block chain Machine Learning (ML)

2026F Cloud Computing Artificial Intelligence (AI)

Internet of Things (IoT) Drones Source: MarkNtel Advisors

Market at a Glance • Insurtech is the usage of technology innovations particularly designed to make the existing insurance model more efficient. By using technologies such as AI and data analytics, insurtech solutions allow products to be priced more competitively.

• Numerous insurtech companies are focusing on using deep learning competent artificial intelligence (AI) to efficiently handle the tasks of agents and find the accurate

mix of policies to complete an individual’s coverage. The increasing use of applications to pull dissimilar policies into one platform for monitoring and management is expected to fuel the market growth over the forecast period.

• XX

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Global InsurTech Market, By Deployment Mode

(1/3)

Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Deployment Mode, 2020 & 2026F Revenue Share (Percentage)

Revenues (USD Million), 2020-2026F

CAGR- XX% On-Premise

2020

2026 Cloud

2020

2026F On-Premise

Cloud Source: MarkNtel Advisors

Market Brief • The widespread acceptance of bring your own device (BYOD) policies coupled with the humongous amount of data insurance companies collect are expected to drive the cloud deployment growth globally. Insurance companies are adopting cloud computing solutions owing to various benefits it offers, such as rapid deployment, costeffective, and highly scalable, among others.

• For instance – in 2021, INSTANDA, the cloud-native insurance solutions provider, announced that London Underwriters implemented INSTANDA's technology to create a new InsurTech, called Bunch Insurance.

• XX • XX

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Global InsurTech Market, By Application

(1/3)

Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Application, 2020 & 2026F Revenue Share (Percentage)

Revenues (USD Million), 2020-2026F

Life and Accident Insurance

CAGR- XX%

Health and Medical Insurance P&C Insurance

2020

Commercial Insurance Insurance Administration and Risk Consulting Annuities

2026 2020 Life and Accident Insurance P&C Insurance Insurance Administration and Risk Consulting

2026F Health and Medical Insurance Commercial Insurance Annuities Source: MarkNtel Advisors

Market Overview • The increasing demand for digital platforms, which connect exchanges, brokers, providers, and carriers in health insurance, is expected to fuel the demand for the health and medical segment. Numerous health insurance companies are adopting InsurTech solutions to streamline claims processing procedures. These solutions use new streams of information from the internet-enabled devices to price premiums according to observed behavior. Indeed, the COVID-19 has also boomed the health

insurance market, which is paving way for health and medical segment in InsurTech market globally.

• On the other hand, several home insurance companies are seeking to create innovative products for commercial and residential real estate professionals.

• XX • XX

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Global InsurTech Market, By Company

(2/5)

Figure XX: Global InsurTech Market, By Company, By Revenues, 2021

Trov Inc. (USD XX Million)

Quantemplate (USD XX Million)

 XX

 XX

XX

 XX

 XX

XX

 XX

 XX

 XX

XX

Oscar Insurance (USD XX Million)

XX

USD XX Billion

 XX

Majesco (USD XX Million)  XX

 XX

 XX

 XX

 XX XX XX

Policy Bazaar (USD XX Million)

Tractable (USD XX Million)

 XX

 XX

 XX

 XX

 XX

 XX Source: MarkNtel Advisors

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North America InsurTech Market Outlook, 2016-2026F

North America InsurTech Market, By Revenues

(1/1)

Figure XX: North America InsurTech Market Revenues (USD Million), 2016-2026F

CAGR: XX%

CAGR: XX% COVID-19 Impact

2016

2017

2018

2019

2020

2021F

2022F

2023F

2024F

2025F

2026F

Source: MarkNtel Advisors

Synopsis • The growth in InsurTech market in the North American region can be ascribed to the increased spending of customers in the area of insurance-related products.

Moreover, these solutions offer customizable and flexible insurance plans for property and health.

• Being home to numerous leading tech companies, North America region has an emerging trend of InsurTech startups, which are advocated and funded by the big tech

and insurance companies.

• Many new startups in Canada, like FLUTTRBOX, EasyInsure, Zensurance, etc. have been acquired by big companies such as Solera Canada, Totten Insurance, and Travelers respectively in the year 2018.

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The U.S. InsurTech Market Outlook, 2016-2026F

The U.S. InsurTech Market, By Revenues

(1/1)

Figure XX: The U.S. InsurTech Market Revenues (USD Million), 2016-2026F

CAGR: XX%

CAGR: XX% COVID-19 Impact

2016

2017

2018

2019

2020

2021F

2022F

2023F

2024F

2025F

2026F

Source: MarkNtel Advisors

Market Outline • The rapid digital literacy would encourage more and more people to buy their policies and make claims online, which is expected to drive the demand for InsurTech in the country. Moreover, the sheer size of insurance data in the US along with the growing start ups such as Lemonade, Oscar Health, Hippo, Next Insurance, Bright Health, are expected to establish demand for InsurTech in the U.S.

• As of 2019, the top 3 cities in the U.S. have been California, New York, and Massachusetts, where there are multitudinous new insurtech start ups.

• Other than this, extensive use of advanced technologies in the U.S., such as blockchain, machine learning, artificial intelligence, etc. are enabling insurance companies to cut down operational costs and drive operational efficiencies. This technology could be used to drive growth and integrate varied insurtech platforms.

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28

Document Outline Table of Content Study Background, Market Segmentation, Scope of Work

Research Process & Methodology Research Approach, Research Methodology

Sample Illustration Global InsurTech Market Analysis, 2021

Commercials

Company Profile About the company

Contact Details

02

16

27

62

64

66

© 2021. All Rights Reserved | MarkNtel Advisors

29

Contact Us

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sales@marknteladvisors.com

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