Published by news degree
Posted on July 30, 2021
10 min readLast updated: January 21, 2026
The global Insurance Analytics Market is forecast to reach USD 16.69 Billion by 2026, according to a new report by Reports and Data. Big data analytics can be beneficial in acquiring the necessary data in a short amount of time. This enables the companies to know the needs and preferences of their customers. Insurance firms can also provide personalized plans depending on their customer’s needs. Using analytical tools, customers can access all the insurance policies in a single, centric dashboard.
One of the most significant issues that insurance companies face is fraud. With big data analytics, a large amount of data can be checked in a short time. It includes various big data solutions, such as social network analysis and telematics. Moreover, a large amount of data is needed and received for subrogation cases. The data can come from the medical records, police records, and even the notes regarding them. Big data analytics allows its users to keep track of the cases that are being investigated.
Key participants include
Microsoft, IBM, SAP SE, Oracle, SAS Institute, Salesforce, Verisk Analytics, OpenText, Pegasystems, Tableau Software, Guidewire, Hexaware, Sapiens International, MicroStrategy, Palantir, LexisNexis, Applied Systems, TIBCO Software, BOARD International, Birst, QlikTech, Mitchell International, PrADS Inc., Vertafore, and BRIDGEi2i, among others.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/2315
Further key findings from the report suggest
Among the applications, risk management accounted for the largest market share of ~21% in the year 2018. The segment is driven by the growing consumer awareness & expectations, and heavy investments by the companies on risk compliance initiatives. The adoption of big data analysis results in better relationships with the policy holders and clients, which will further contribute to the market.
The customer management and personalization application is forecasted to witness the highest growth rate of 13.4% during the forecast period. Customer management and personalization in the insurance industry is mainly driven by the growing technological advancements in the industry. Digitalization and InsurTech are the major factors that govern the growth. Technologies like connected devices support continuous tracking and interaction with customers. Moreover, customer management and personalization encompasses the strategies, methods, and tools to evaluate the customer behaviour and interactions to create positive customer relationships.
North America held the largest market share of ~29% in the year 2018. The region is leading in the application of big data, analytics, automation, IoT and artificial intelligence. The emerging industries of predictive, prescriptive analysis, digitalization, and heavy capital investments are propelling the growth of the regional market. However, security breaches and low skilled workforce may confine the growth in the coming years.
Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/2315
For this report, Reports and Data have segmented into the global Insurance Analytics market on the basis of resin type, composite phases, industry vertical, and region:
Application Outlook (Revenue, USD Billion; 2016-2026)
Claim Management
Fraud Analysis
Risk Management
Process Optimization
Subrogation Analysis
Customer Management And Personalization
Others
Deployment Outlook (Revenue, USD Billion; 2016-2026)
Cloud Deployment
On-Premises Deployment
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
Small and Medium Sized Organizations
Large Organizations
End User Outlook (Revenue, USD Billion; 2016-2026)
Insurance Providers
IT and Telecommunication
Government Agencies
Consultants And Advisory Firms
Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/2315
Have a Look at Related Reports:
Wi-Fi Analytics Market Size, Share & Analysis By Component (Solutions And Services), By Application (Footfall Analytics, Customer Experience Management, Customer Behavior Analytics, Customer Engagement, Customer Loyalty Management), By Deployment (Cloud And On-Premises), By Location (Indoor And Outdoor), By Region, Forecast To 2027
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Industrial Analytics Market By Component, By Analytics Type (Predictive, Prescriptive, Descriptive, and Diagnostic Analytics), By Organization Size, By Deployment Mode, By Industry Vertical (Retail and Consumer Goods, Manufacturing, Energy and Utilities, Transportation & Logistics, Telecommunications & IT, and Others), Forecast To 2027
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
The post Insurance Analytics Market Competitive Landscape, Growth Factors, Revenue Analysis, 2019–2026 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
The global Insurance Analytics Market is forecast to reach USD 16.69 Billion by 2026, according to a new report by Reports and Data. Big data analytics can be beneficial in acquiring the necessary data in a short amount of time. This enables the companies to know the needs and preferences of their customers. Insurance firms can also provide personalized plans depending on their customer’s needs. Using analytical tools, customers can access all the insurance policies in a single, centric dashboard.
One of the most significant issues that insurance companies face is fraud. With big data analytics, a large amount of data can be checked in a short time. It includes various big data solutions, such as social network analysis and telematics. Moreover, a large amount of data is needed and received for subrogation cases. The data can come from the medical records, police records, and even the notes regarding them. Big data analytics allows its users to keep track of the cases that are being investigated.
Key participants include
Microsoft, IBM, SAP SE, Oracle, SAS Institute, Salesforce, Verisk Analytics, OpenText, Pegasystems, Tableau Software, Guidewire, Hexaware, Sapiens International, MicroStrategy, Palantir, LexisNexis, Applied Systems, TIBCO Software, BOARD International, Birst, QlikTech, Mitchell International, PrADS Inc., Vertafore, and BRIDGEi2i, among others.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/2315
Further key findings from the report suggest
Among the applications, risk management accounted for the largest market share of ~21% in the year 2018. The segment is driven by the growing consumer awareness & expectations, and heavy investments by the companies on risk compliance initiatives. The adoption of big data analysis results in better relationships with the policy holders and clients, which will further contribute to the market.
The customer management and personalization application is forecasted to witness the highest growth rate of 13.4% during the forecast period. Customer management and personalization in the insurance industry is mainly driven by the growing technological advancements in the industry. Digitalization and InsurTech are the major factors that govern the growth. Technologies like connected devices support continuous tracking and interaction with customers. Moreover, customer management and personalization encompasses the strategies, methods, and tools to evaluate the customer behaviour and interactions to create positive customer relationships.
North America held the largest market share of ~29% in the year 2018. The region is leading in the application of big data, analytics, automation, IoT and artificial intelligence. The emerging industries of predictive, prescriptive analysis, digitalization, and heavy capital investments are propelling the growth of the regional market. However, security breaches and low skilled workforce may confine the growth in the coming years.
Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/2315
For this report, Reports and Data have segmented into the global Insurance Analytics market on the basis of resin type, composite phases, industry vertical, and region:
Application Outlook (Revenue, USD Billion; 2016-2026)
Claim Management
Fraud Analysis
Risk Management
Process Optimization
Subrogation Analysis
Customer Management And Personalization
Others
Deployment Outlook (Revenue, USD Billion; 2016-2026)
Cloud Deployment
On-Premises Deployment
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
Small and Medium Sized Organizations
Large Organizations
End User Outlook (Revenue, USD Billion; 2016-2026)
Insurance Providers
IT and Telecommunication
Government Agencies
Consultants And Advisory Firms
Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/2315
Have a Look at Related Reports:
Wi-Fi Analytics Market Size, Share & Analysis By Component (Solutions And Services), By Application (Footfall Analytics, Customer Experience Management, Customer Behavior Analytics, Customer Engagement, Customer Loyalty Management), By Deployment (Cloud And On-Premises), By Location (Indoor And Outdoor), By Region, Forecast To 2027
Artificial Intelligence in Sports Market Size, Share & Trends Analysis Report By Technology (Cognitive Computing, Computer Vision, Data Analytics, Decisions as a Service, Machine Learning, Natural Language Processing), By Application (Game Planning, Game Tactics, Performance Improvement, Injury Prevention, Sports Recruitment), By Deployment (DaaS, Decision Support, Software), By Region, Competitive Strategies and Segment Forecasts for 2016-2026
Industrial Analytics Market By Component, By Analytics Type (Predictive, Prescriptive, Descriptive, and Diagnostic Analytics), By Organization Size, By Deployment Mode, By Industry Vertical (Retail and Consumer Goods, Manufacturing, Energy and Utilities, Transportation & Logistics, Telecommunications & IT, and Others), Forecast To 2027
Augmented Analytics Market Analysis, By Software, By Services (Training and Consulting, System Integration, Technical Support), By Business Function (Marketing, Finance, IT, Operations), By Deployment Type, By End User, and By Region, Forecasts to 2026
Retail Analytics Market Size, Share And Industry Analysis By Component (Software, Services), By Business Functions (Customer Management, Strategy and Planning, Marketing and Merchandizing, In-store Operation, Supply Chain Management), By Organization Size (Small and Medium enterprises, Large Enterprises) By Deployment Mode (On-Premises, Cloud), By End Users (Online, Offline) And Region, Segment Forecasts To 2026
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
The post Insurance Analytics Market Competitive Landscape, Growth Factors, Revenue Analysis, 2019–2026 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
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