Insurtech is a combination of “insurance” and “technology”. Insurtech is a technology that lies behind the creation, distribution and administration of insurance business. It is used to make the current insurance model more efficient. It is useful for collecting and analyzing customer data to provide a better service. Big data, artificial intelligence and internet of things (IoT) are the current focus of the insurtech. Insurtech develops and offer the right products at the right time to the insurer.This growth is primarily driven by Empowers Customers to Take Control of Their Insurance, Quickly Summarize and Present the Most Relevant Product and Rising Internet Based Business Ecosystem.
Globally, a noticeable market trend is evident Digitization of Processes and Personalization of Premiums. Major Players, such as Friendsurance (Germany), Oscar (United States), ZhongAn (China), Shift Technology (France), Quantemplate (United Kingdom), Allay (United Kingdom), Analyze Re (Canada), GetInsured (United States), Bayzat (United Arab Emirates) and Trov (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
On 30th January 2019, the digital insurance platform Friendsurance now offers its digital bancassurance solutions under the brand name Friendsurance Business. To serve this purpose, the company has launched a new targeted web presence.
- Empowers Customers to Take Control of Their Insurance
- Quickly Summarize and Present the Most Relevant Product
- Rising Internet Based Business Ecosystem
- Digitization of Processes and Personalization of Premiums
- Insurance Industry Suffers From Image Problem
- Lack of Awareness about the Service
Massive Market Size
Regulations Will Be Barriers for Startups of Insuretech
AdvanceMarketAnalytics follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization of the Report:
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.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase