What is Insurance Analytics Software Market Scope?
Insurance analytics software analyzes insurance-related data. Insurance companies use these solutions to reduce fraudulent activity, drive customer interactions, price their products and automate product recommendations. Insurance agencies leverage these solutions to inform strategic decision-making, enable the self-service of policies, identify potential opportunities for cost savings, and price premiums. Besides, insurance analytics software carries out deep data analysis on customer and operational data, allowing organizations to become more efficient and effective. Insurance analytics solutions connect to various data sources within an insurance agency. These solutions also typically integrate with financial services CRM software.
Insurance Analytics Software Market Dynamics:
Attributes | Details |
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Growth Drivers | - Rapid Adoption of Data-Driven Decision-Making
- The Complexity of Risk Is Rising Due To Climate Change, Terrorism and Cybercrime
- Lack of Integration with Legacy Systems
- The Rapidly Growing Insurance Sector
- Regulatory Pressure is Also Fueling the Demand
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Influencing Trends | - The Growing Popularity of Cloud-Based Solutions
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Restraints | - Data quality and security issues
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Gaps & Opportunities | - Increasing Adoption of IoT Insurance
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The Insurance Analytics Software market study is being classified, by Application and major geographies with country level break-up.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Insurance Analytics Software market throughout the predicted period.
Tableau (Salesforce) (United States), RapidMiner, Inc. (United States), SAS (Germany), Majesco (United States), MFX (United States), Applied (United States), Zwave (United States), Earnix Ltd. (Israel), InsuredMine, Inc. (United States) and Quantemplate (United Kingdom) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Insurance Analytics Software market by Type, Application and Region.
On the basis of geography, the market of Insurance Analytics Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 25 Sept 2019, Salesforce releases data analytics software to the insurance industry. The platform now integrates several technologies and AI capabilities to provide insurance companies with what the firm calls a “360-degree view” of its customers.
Key Target Audience
Insurance Analytics Software Providers, Insurance Companies, Regulatory & Government Bodies, Potential Technology Investors, Upstream and Downstream Vendors, End Users and Others
Insurance Analytics Software Market Study: Important Years
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Insurance Analytics Software Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Insurance Analytics Software industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.