“niche Insurance Markets In Europe: Opportunities And Offerings” – New York, April 21, 2023 // — Technavio tracked the insurance technology market in Europe, which is expected to grow by $14,523.99 million between 2022 and 2027. According to the latest report, the market will advance at a CAGR of around 34.58% during the forecast period. This report helps business leaders with the latest analysis that includes research on the current market situation, latest trends and drivers that can impact market growth as well as the overall market environment. Download the latest sample report!
Increased collaboration between investors and insurance technology providers has been identified as a key trend in the market. The market is witnessing increased collaboration between investors and insurance technology companies. These players are focused on developing innovative and customizable insurance products and personalized services to meet the evolving needs of consumers. In addition, the trend of buying insurance through apps has also increased the cooperation of investors with insurance technology companies. For example, in December 2020, Simssurance GmbH, an insurance technology company based in Berlin, received an $18 million loan from Allianz X. The investment will boost market growth over the forecast period.
“niche Insurance Markets In Europe: Opportunities And Offerings”
The market is fragmented and the level of fragmentation will increase during the forecast period. Akur8, Alan SA, Anorak Technologies Ltd., Charles Tailor Ltd., Descartes Underwriting SAS, Digital Fineprint Ltd., F2Ks Group Ltd., FRISS, Getsafe Digital GmbH, INZMO Europe GmbH, Majesco, Povzechni Zaklad Ubezpieczen Spolka Akcinus Group GmbH, Kover SA, Kuantemplate Technologies Inc., Shift Technology, simplesurance GmbH, Vefok Insurance AG, Xempus AG and Duck Creek Technologies Inc. are some of the main players in the market.
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While increasing adoption of cloud solutions will open up significant growth opportunities, changing skill requirements will drive the growth of market players. To make the most of this opportunity, traders should focus on growth prospects in the high-growth segment while maintaining their positions in the slow-growth segment.
The market is driven by the increasing adoption of cloud computing solutions. Cloud-based solutions give organizations the flexibility to scale up or down according to their needs. Cloud-based solutions also provide rapid deployment and low upfront costs. It also enables organizations to access information and services remotely through a web browser without installing or managing application software. Many of these benefits are increasing the adoption of listening among end users, which is driving market growth.
Market growth in the solutions segment will be significant during the forecast period. The growth of the segment is driven by the digital transformation of insurance, as well as the increasing demand for customer-oriented solutions. In addition, the development of new products to meet the changing needs of customers and improve transparency is driving the growth of the segment.
Technavio provides a detailed market overview by researching, synthesizing and aggregating data from multiple sources. Our overview of the insurance technology market in Europe covers the following areas:
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Changing skill requirements will drive market growth. Technological innovations have enabled vendors to provide customer-centric applications in the market. Incorporating data analytics has enabled insurance companies to gain insights, detect fraud and predict claim patterns. Also, blockchain technology and cloud insurance solutions have become more efficient and secure. However, the market faces a shortage of qualified experts to implement digital technologies. This makes it difficult for insurance companies to adopt technology, which has a negative impact on market growth.
We provide a detailed analysis of around 25 vendors operating in the insurance technology market in Europe, including some of the key vendors. Supporting competitive and comparative information, our Europe Insurance Technology market research report is designed to provide market entry support, client and M&A insights, as well as market strategy support.
The insurance software market is expected to grow at a CAGR of 7.22% during the period 2022-2027. The market size is expected to increase by $6,453.98 million. The market is segmented by application (on-premises and cloud), type (life insurance, accident and health insurance, property and casualty insurance, etc.) and geography (North America, APAC, Europe, Middle East and Africa and South America ).
The insurance technology market is expected to grow at a CAGR of 44.05% during the period 2022-2027. The market size is expected to increase by $6,1756.27 million. The market is segmented by application (on-premises and cloud), management (marketing and distribution, IT support, policy management and governance, claims management, etc.) and geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America).
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Akur8, Alan SA, Anorak Technologies Ltd., Charles Tailor Ltd., Descartes Underwriting SAS, Digital Fineprint Ltd., F2Ks Group Ltd., FRISS, Getsafe Digital GmbH, INZMO Europe GmbH, Majesco, Povzechni Zaklad Ubezpieczen Spolka Akcinus Group GmbH, Kover SA, Kuantemplate Technologies Inc., Shift Technology, simplesurance GmbH, Vefok Insurance AG, Xempus AG and Duck Creek Technologies Inc.
Analysis of the parent market, drivers and barriers to market growth, analysis of fast and slow growing segments, analysis of the impact of COVID-19 and subsequent recovery and consumer changes, and analysis of market conditions during the forecast period.
If our report does not contain the information you are looking for, you can contact our analysts and get a customized section.
Technavio is a leading global technology research and consulting company. Their research and analysis focuses on emerging market trends and provides insights that will help companies identify marketing opportunities and develop effective strategies to optimize their market position. With more than 500 dedicated analysts, Technavio’s report library contains more than 17,000 reports covering 800 technologies, in 50 countries. Their client base includes companies of all sizes, including over 100 Fortune 500 companies. This growing customer base is based on Technavio’s comprehensive leadership, extensive research and hands-on market insight to identify existing and potential market opportunities and assess your competitiveness in a changing environment. market conditions.
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Specialty insurance refers to coverage for special items and situations that are not usually covered by standard insurance policies. This includes the management of specific maritime risks, including transport, cargo and maritime liability. It also covers the risks faced by film productions, music tours and theater productions. It is highly customizable and can be provided by an insurer with specific expertise in a particular area. Provides protection against financial losses due to the cancellation or interruption of special events such as concerts, weddings and conferences. It protects professionals in certain fields such as medicine, law and
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