InsurTech Market - UK and France to be the Fastest Growing Regions in Europe
NEW YORK, Aug. 10, 2022 /PRNewswire/ -- The InsurTech MARKET was a fragmented industry that was in a phase of growth in 2020. By 2025, the market structure would continue to be fragmented. Its lifecycle stage would continue to be in the growth phase. InsurTech refers to insurance technology, where technological innovations are used for improving the efficiency and savings of the conventional insurance industry model. Many venture capital firms are investing in InsurTech start-ups. InsurTech firms are leveraging the power of software to promote different insurance products and other portfolio management tasks. These start-ups offer platforms or technologies for insurance companies and can disrupt the less technologically savvy corporations. InsurTech platforms help insurance companies in facilitating their operational efficiency. They can lower the cost of insurance products using InsurTech platforms.
According to the recent market study by Technavio –
Browse Summary of this InsurTech MARKET Research Report to Learn More
Europe's potential as a global InsurTech hub –
UK and France are the key markets for InsurTech in Europe. Market growth in this region will be faster than the growth of the market in the North American and MEA regions. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
Benefits of InsurTech to improve business efficiency –
The increase in the number of connected devices in financial industries has led to massive amounts of data generation. Insurance companies have realized that they can use the data to optimize costs, deliver better services, and boost revenues. In the traditional insurance systems, high costs were involved due to the physical distribution of the data. With the customers becoming more digitized, the demand for better and easier access to insurance technology services is increasing. The use of InsurTech, which includes risk-averting models and predictive mechanisms, helps businesses with a substantial amount of data to enhance their productivity. To implement these technologies in the insurance framework, there is a high need for establishing a seamless connection for efficient communication among systems, machines, and people. Thus, InsurTech has become a strategic priority for several insurance organizations.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the InsurTech industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Overview of Adjacent InsurTech Market Research Reports available with Technavio –
Browse Summary of the InsurTech MARKET IN UK Research Report by Deployment and Value Chain Positioning - Forecast and Analysis 2022-2026: The market value is set to grow by USD 4.20 billion, progressing at a CAGR of 43.74% from 2021 to 2026, as per the latest report by Technavio. Furthermore, this report extensively covers InsurTech market in the UK segmentation by deployment (on-premises and cloud) and value chain positioning (marketing and distribution, IT support, policy administration and management, claim management, and others).
Browse for Technavio "INFORMATION TECHNOLOGY MARKET" Research Reports
Table of Contents
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Value chain positioning
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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