InsurTech Market by Value Chain Positioning and Geography - Forecast and Analysis 2020-2024
- Published: Oct 2020
- Pages: 120
- SKU: IRTNTR45277
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The InsurTech market size has the potential to grow USD 21.72 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 36%.
This InsurTech market report provides a detailed analysis of the market by value chain positioning (marketing and distribution, IT support, policy administration and management, claim management, and others) and geography (North America, Europe, APAC, MEA, and South America).
InsurTech Market Share
Browse TOC and LoE with selected illustrations and example pages of InsurTech Market
Who are the Major InsurTech Market Vendors?
The InsurTech market analysis report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Alan SA
- Clover Health
- Cytora Ltd.
- Haven Life Insurance Agency LLC
- Oscar Insurance Corp.
- Quantemplate Technologies Inc.
- Shift Technology
- simplesurance GmbH
- Trov Insurance Solutions LLC
- ZhongAn Online P&C Insurance Co. Ltd.
The InsurTech market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.
The market players also significantly leverage external market drivers such as the advantages of digital technologies to achieve growth opportunities. However, factors such high cost of investment will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Download a free sample of the InsurTech market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies,
This report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
What are the Key InsurTech Market Drivers and Trends?
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Which are the Key Markets for InsurTech?
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Europe was the largest InsurTech market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the presence of financial services sector and key vendors will significantly drive InsurTech market growth in this region over the forecast period.
46% of the market’s growth will originate from Europe during the forecast period. The UK and France are the key markets for InsurTech in Europe. Market growth in this region will be slower than the growth of the market in APAC.
What are the Major Value Chain Positioning Segments in the InsurTech Market?
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The increasing use of smartphones and the ease-of-access of the Internet through smartphones have bolstered digital marketing and digital distribution of insurance policies through advanced technologies.
An in-depth scenario-based approach was followed in this InsurTech market research report to identify the direct and indirect impact of COVID-19 on market growth. Buy the full market research report to gain actionable insights on the influence of COVID-19 on InsurTech market segments.
Key Highlights of the InsurTech Market Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive InsurTech market growth during the next five years
- Precise estimation of the InsurTech market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the InsurTech industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of InsurTech market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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