FinTech in the insurance market is booming worldwide | Root Insurance, Clearcover, Corvus Insurance, Zipari
“FinTech in insurance”
FinTech in Insurance Comprehensive study by type (property and casualty, life insurance, health insurance, others), technology (IOT, blockchain, machine learning, others), industry vertical (oil and gas, manufacturing, logistics, others), deployment (on -Cloud, on-premise) Players and Region – Global Market Outlook to 2026
Advance Market Analytics published a new research publication on”Global FinTech in Insurance Market Insights, to 2027” with 232 pages and enriched with self-explanatory tables and diagrams in a presentable format. In the study, you will find new developing trends, drivers, constraints, opportunities generated by targeting market related stakeholders. The growth of FinTech in insurance the market was mainly driven by the increasing R&D expenditure worldwide.
Important actors profiled in the study are:
Zipari (US), MetroMile (US), Corvus Insurance (US), Kin Insurance (US), Policygenius (US), Clearcover (US), Circulo HealthArtivatic (US), Oscar Health (US). ), Bright Health (US), Clover Health (US), ZhongAn (China), Root Insurance (US), American Well (US), Gusto (US)
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The scope of the report on FinTech in insurance
FinTech in Insurance is a financial technology that transforms the offer of financial services, creates new opportunities and presents new challenges for both the insurance industry and financial supervision. Fintech innovations refer to the diversity of new technologies and innovative business models for the potential to transform the insurance business. Global FinTech in insurance market was valued at 16651 million in 2020 and is expected to reach a market value of ~64,443.30 by 2026, registering a CAGR of ~25.33% over the forecast period 2021-2026 (hereafter referred to as the forecast period).
Geographically, North America is leading the adoption of fintech in insurance due to increasing demand in various sectors such as oil and gas, aviation, manufacturing for insurance products and business areas, with concentrations in the P&C business, and therefore the market for fintech in insurance is triggering the growth in the market during the forecast period
In April 2021, N26 enters the insurance area with the launch of the new product. The goal of launching a new product to enable customers to purchase coverage, manage plans and initiate claims through a digital banking experience.
In May 2021, the Choice group launched a fintech aggregator platform to address low insurance penetration
Global FinTech in Insurance market segments and market data breakdown are provided below:
By Type (Property & Casualty, Life Insurance, Health Insurance, Others), Technology (IOT, Blockchain, Machine Learning, Others), Industry Vertical (Oil & Gas, Manufacturing, Logistics, Others), Deployment (Cloud, On-Premise)
Market opportunities:
- Fintech in insurance has met the demand of the digital-native generation, helping insurers appeal to a younger clientele
Market drivers:
- Customers need fast, practical and personal service. Fintech in insurance can help to offer such a service
Market trend:
- Increasing demand for blockchain technology for faster claim processing and payment
- Fintech in insurance companies minimizes inefficiencies by using artificial intelligence (AI) to automate much of this process.
What can be explored with the FinTech in Insurance Market Study?
- Gain market understanding
- Identify growth opportunities
- Analyze and measure the global FinTech in insurance Market by identifying investments across different industry verticals
- Understand the trends that will lead to future changes FinTech in insurance
- Understand the competitive scenarios
– Track the right markets
– Identify the correct verticals
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East and Africa
Breakdown at country level: USA, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel , United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
If you have any questions regarding the Global FinTech in Insurance Market Report, ask our [email protected]
Strategic points covered in the table of contents of Global FinTech in the insurance market:
Chapter 1: Introduction, market driving force product Study objectives and research Scope FinTech in insurance market
Chapter 2: Exclusive Summary – Basic Information About FinTech in insurance Market.
Chapter 3: Show the market dynamics – drivers, trends and challenges and opportunities for FinTech in insurance
Chapter 4: Presentation of FinTech in insurance Market Factor Analysis, Porter’s Five Forces, Supply/Value Chain, PESTEL Analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: View by type, end user and region/country 2016-2021
Chapter 6: Evaluation of the leading manufacturers of FinTech in insurance market consisting of competitive landscape, peer group analysis, BCG matrix and company profile
Chapter 7: To evaluate the market by segments, by country and by manufacturers/company with revenue share and sales by key countries in these various regions (2022-2027)
Chapters 8 and 9: Display of appendices, methodology and data source
Finally, FinTech in insurance The market is a valuable source of guidance for individuals and businesses.
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Thank you for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.
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