Insurance Analytics - Market Scope
Insurance analytics 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 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.
The Insurance Analytics - market study is segmented by Type (Descriptive Analytics, Diagnostic Analytics, Predictive Analytics and Prescriptive Analytics), by Application (Claim management, Risk management, Process optimization, Customer management and personalization and Others) and major geographies with country level break-up.
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 that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Insurance Analytics - market by Type, Application and Region.
On the basis of geography, the market of Insurance Analytics - 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.
- The Growing Popularity of Cloud-Based Solutions
- 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
- Increasing Adoption of IoT Insurance
- Data quality and security issues
Key Target AudienceInsurance Analytics Providers, Insurance Companies, Regulatory & Government Bodies, Potential Technology Investors, Upstream and Downstream Vendors, End Users and Others
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Insurance Analytics - Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.