Global InsurTech Market Research Report: Forecast (2021-2026) - MarkNtel Advisors

Global InsurTech Market
Analysis, 2021
marknteladvisors.com

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© 2021. All Rights Reserved | MarkNtel Advisors 2
Table of Content
Study Background, Market Segmentation, Scope of Work
Research Process & Methodology
Research Approach, Research Methodology
Sample Illustration
Global InsurTech Market Analysis, 2021
Commercials
Company Profile
About the company
Contact Details
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Document Outline

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© 2021. All Rights Reserved | MarkNtel Advisors
Market Segmentation
Global InsurTech Market
By Type
• Block chain
• Cloud Computing
• Internet of Things (IoT)
• Machine Learning (ML)
• Artificial Intelligence (AI)
• Drones
By Region
• North America
• The US
• Canada
• Mexico
• South America
• Brazil
• Others
• Europe
• Germany
• The UK
• France
• Italy
• Spain
• Others
• Middle East & Africa
• GCC Countries
• South Africa
• Asia Pacific
• China
• India
• Japan
• South Korea
• Others
By Application
• Life and Accident Insurance
• Health and Medical Insurance
• P&C Insurance
• Commercial Insurance
• Insurance Administration and Risk
Consulting
• Annuities
By Company
• Trov Inc.
• Oscar Insurance
• Policy Bazaar
• Quantemplate
• Clover Health
Insurance
• Tractable
• Anorak Technologies
• Majesco
• Cytora Ltd.
• Zhongan Insurance
By Deployment
• On-premise
• Cloud

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Study Background – Project Outline (1/12)
Table of Content
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Market Segmentation
1.4. Assumptions
2. Preface
3. Executive Summary
4. Impact of COVID-19 on Global InsurTech Market
5. Global InsurTech Market Outlook, 2016-2026F
5.1. Market Size & Analysis
5.1.1. By Revenues
5.2. Market Share & Analysis
5.2.1. By Type
5.2.1.1. Block chain
5.2.1.2. Cloud Computing
5.2.1.3. Internet of Things (IoT)
5.2.1.4. Machine Learning (ML)
5.2.1.5. Artificial Intelligence (AI)
5.2.1.6. Drones
5.2.2. By Deployment Mode
Historical Year: 2016 | Base Year: 2020 | Forecast Year: 2026

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Study Background – Project Outline
Table of Content
5.2.2.1. On-Premise
5.2.2.2. Cloud
5.2.3. By Application
5.2.3.1. Life and Accident Insurance
5.2.3.2. Health and Medical Insurance
5.2.3.3. P&C Insurance
5.2.3.4. Commercial Insurance
5.2.3.5. Insurance Administration and Risk Consulting
5.2.3.6. Annuities
5.2.4. By Region
5.2.4.1. North America
5.2.4.2. South America
5.2.4.3. Europe
5.2.4.4. Middle East & Africa
5.2.4.5. Asia-Pacific
5.2.5. By Company
5.2.5.1. Competition Characteristics
5.2.5.2. Market Share & Analysis
5.2.5.3. Competitive Matrix
6. North America InsurTech Market Outlook, 2016-2026F
(2/12)

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Table of Content
6.1.1. By Revenues
6.2.1. By Type
6.2.4. By Country
6.2.4.1. The US
6.2.4.2. Canada
6.2.4.3. Mexico
6.3. The US InsurTech Market Outlook, 2016-2026F
6.3.1. Market Size & Analysis
6.3.1.1. By Revenues
6.3.2. Market Share & Analysis
6.3.2.1. By Type
6.3.2.2. By Deployment Mode
6.3.2.3. By Application
6.4. Canada InsurTech Market Outlook, 2016-2026F
(3/12)

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Table of Content
6.4.2.1. By Type
6.5. Mexico InsurTech Market Outlook, 2016-2026F
6.5.2.1. By Type
7. South America InsurTech Market Outlook, 2016-2026F
7.1.1. By Revenues
7.2.1. By Type
7.2.4. By Country
7.2.4.1. Brazil
(4/12)

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Table of Content
7.2.4.2. Others
7.3. Brazil InsurTech Market Outlook, 2016-2026F
7.3.2.1. By Type
8. Europe InsurTech Market Outlook, 2016-2026F
8.1.1. By Revenues
8.2.1. By Type
8.2.4. By Country
8.2.4.1. Germany
8.2.4.2. The UK
8.2.4.3. France
8.2.4.4. Italy
(5/12)

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Table of Content
8.2.4.5. Spain
8.2.4.6. Others
8.3. Germany InsurTech Market Outlook, 2016-2026F
8.3.2.1. By Type
8.4. The UK InsurTech Market Outlook, 2016-2026F
8.4.2.1. By Type
8.5. France InsurTech Market Outlook, 2016-2026F
(6/12)

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Table of Content
8.5.2.1. By Type
8.6. Italy InsurTech Market Outlook, 2016-2026F
8.6.2.1. By Type
8.7. Spain InsurTech Market Outlook, 2016-2026F
8.7.2.1. By Type
9. Middle East & Africa InsurTech Market Outlook, 2016-2026F
9.1.1. By Revenues
(7/12)

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Table of Content
9.2.1. By Type
9.2.4. By Country
9.2.4.1. GCC Countries
9.2.4.2. South Africa
9.2.4.3. Others
9.3. GCC InsurTech Market Outlook, 2016-2026F
9.3.2.1. By Type
9.4. South Africa InsurTech Market Outlook, 2016-2026F
9.4.2.1. By Type
(8/12)

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Table of Content
10. Asia-Pacific InsurTech Market Outlook, 2016-2026F
10.1.Market Size & Analysis
10.1.1. By Revenues
10.2.Market Share & Analysis
10.2.1. By Type
10.2.4. By Country
10.2.4.1. China
10.2.4.2. India
10.2.4.3. Japan
10.2.4.4. South Korea
10.2.4.5. Others
10.3. China InsurTech Market Outlook, 2016-2026F
10.3.2.1. By Type
(9/12)

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Table of Content
10.4. India InsurTech Market Outlook, 2016-2026F
10.4.2.1. By Type
10.5. Japan InsurTech Market Outlook, 2016-2026F
10.5.2.1. By Type
10.6. South Korea InsurTech Market Outlook, 2016-2026F
(10/12)

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Table of Content
10.6.2.1. By Type
11. Global InsurTech Market Dynamics
11.1.Growth Drivers
11.2.Challenges
11.3.Impact Analysis
12. Global InsurTech Market Policies, Regulations, Product Standards
13. Global InsurTech Market Trends & Insights
14. Global InsurTech Market Hotspot & Opportunities
15. Global InsurTech Market Key Strategic Imperatives for Success & Growth
16. Competition Outlook
16.1. Competition Matrix
16.1.1. Product/ Solution Portfolio
16.1.2. Target Markets
16.1.3. Target End Users
16.1.4. Research & Development
16.1.5. Strategic Alliances
16.1.6. Strategic Initiatives
16.2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
(11/12)

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Table of Content
16.2.1. Trov, Inc.
16.2.2. Oscar Insurance
16.2.3. Policy Bazaar
16.2.4. Quantemplate
16.2.5. Clover Health Insurance
16.2.6. Tractable
16.2.7. Anorak Technologies
16.2.8. Majesco
16.2.9. Cytora Ltd.
16.2.10. Zhongan Insurance
17. Disclaimer
(12/12)

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Table of Content
Sample Illustration
Commercials
Company Profile
About the company
Contact Details
27
62
64
66
Document Outline
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Global InsurTech Market Start-Up Ecosystem

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Global InsurTech Market Start-Up Ecosystem (2/3)
Source: MarkNtel Advisors
Figure XX: Global InsurTech Market Number of Start-ups Launched/Registered, 2016-2021
2016 2017 2018 2019 2020 2021
Figure XX: Global InsurTech Market Investment Trend By Investors, 2016-2021
2016 2017 2018 2019 2020 2021
Tim Ventures XX XX. XX, XX..

Global InsurTech Market Outlook, 2016-2026F

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2016 2017 2018 2019 2020 2021F 2022F 2023F 2024F 2025F 2026F
CAGR: XX%
COVID-19 Impact
CAGR: XX%
(1/1)
Figure XX: Global InsurTech Market Revenues (USD Million), 2016-2026F
Market Summary
• The shift of insurance companies on improving communication with their clients and capabilities to implement automation processes has fuelled the InsurTech market
globally. They are focusing on technological innovations particularly designed to improve the efficiency of the existing insurance industry model. These solutions have
helped businesses to attain different approaches by broadening their offerings, such as offering social insurance and ultra-customized policies.
• For instance – in 2021, the German challenger bank launched its first insurance product, named N26 Insurance. It would allow its users to purchase coverage, manage
plans and initiate claims for a range of insurance products all within the N26 app.
• The number of deals made had risen continuously during the past few years, owing to the increased preference for technological advancements, such as artificial
intelligence, machine learning, and block chain technology in the insurance sector.
Global InsurTech Market, By Revenues

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(1/3)
Global InsurTech Market, By Type
Market at a Glance
• Insurtech is the usage of technology innovations particularly designed to make the existing insurance model more efficient. By using technologies such as AI and data
analytics, insurtech solutions allow products to be priced more competitively.
• Numerous insurtech companies are focusing on using deep learning competent artificial intelligence (AI) to efficiently handle the tasks of agents and find the accurate
mix of policies to complete an individual’s coverage. The increasing use of applications to pull dissimilar policies into one platform for monitoring and management is
expected to fuel the market growth over the forecast period.
• XX
Block chain
Cloud Computing
Internet of
Things (IoT)
Machine
Learning (ML)
Artificial
Intelligence (AI)
Drones
2020 2026
2020 2026F
Block chain Cloud Computing Internet of Things (IoT)
Machine Learning (ML) Artificial Intelligence (AI) Drones
Revenue Share (Percentage) Revenues (USD Million), 2020-2026F
Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Type, 2020 & 2026F
CAGR- XX%

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(1/3)
Global InsurTech Market, By Deployment Mode
Market Brief
• The widespread acceptance of bring your own device (BYOD) policies coupled with the humongous amount of data insurance companies collect are expected to drive
the cloud deployment growth globally. Insurance companies are adopting cloud computing solutions owing to various benefits it offers, such as rapid deployment, cost-
effective, and highly scalable, among others.
• For instance – in 2021, INSTANDA, the cloud-native insurance solutions provider, announced that London Underwriters implemented INSTANDA's technology to create
a new InsurTech, called Bunch Insurance.
• XX
• XX
On-Premise
Cloud
2020 2026
2020 2026F
On-Premise Cloud
Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Deployment Mode, 2020 & 2026F
CAGR- XX%

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(1/3)
Global InsurTech Market, By Application
Market Overview
• The increasing demand for digital platforms, which connect exchanges, brokers, providers, and carriers in health insurance, is expected to fuel the demand for the
health and medical segment. Numerous health insurance companies are adopting InsurTech solutions to streamline claims processing procedures. These solutions use
new streams of information from the internet-enabled devices to price premiums according to observed behavior. Indeed, the COVID-19 has also boomed the health
insurance market, which is paving way for health and medical segment in InsurTech market globally.
• On the other hand, several home insurance companies are seeking to create innovative products for commercial and residential real estate professionals.
• XX
• XX
Life and Accident
Insurance
Health and Medical
Insurance
P&C Insurance
Commercial
Insurance
Insurance
Administration and
Risk Consulting
Annuities
2020 2026
2020 2026F
Life and Accident Insurance Health and Medical Insurance
P&C Insurance Commercial Insurance
Insurance Administration and Risk Consulting Annuities
Figure XX: Global InsurTech Market By Revenue (USD Million), By Revenue Share (Percentage), By Application, 2020 & 2026F
CAGR- XX%

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XX
XX XX
XX
XX
XX
Quantemplate (USD XX Million)
 XX
 XX
 XX
 XX
Majesco (USD XX Million)
 XX
 XX
 XX
Tractable (USD XX Million)
 XX
 XX
 XX
Trov Inc. (USD XX Million)
 XX
 XX
 XX
Oscar Insurance (USD XX Million)
 XX
 XX
 XX
Policy Bazaar (USD XX Million)
 XX
 XX
 XX
USD XX Billion
Figure XX: Global InsurTech Market, By Company, By Revenues, 2021
Global InsurTech Market, By Company (2/5)

North America InsurTech Market Outlook, 2016-2026F

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2016 2017 2018 2019 2020 2021F 2022F 2023F 2024F 2025F 2026F
CAGR: XX%
COVID-19 Impact
CAGR: XX%
(1/1)
Figure XX: North America InsurTech Market Revenues (USD Million), 2016-2026F
Synopsis
• The growth in InsurTech market in the North American region can be ascribed to the increased spending of customers in the area of insurance-related products.
Moreover, these solutions offer customizable and flexible insurance plans for property and health.
• Being home to numerous leading tech companies, North America region has an emerging trend of InsurTech startups, which are advocated and funded by the big tech
and insurance companies.
• Many new startups in Canada, like FLUTTRBOX, EasyInsure, Zensurance, etc. have been acquired by big companies such as Solera Canada, Totten Insurance, and
Travelers respectively in the year 2018.
North America InsurTech Market, By Revenues

The U.S. InsurTech Market Outlook, 2016-2026F

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2016 2017 2018 2019 2020 2021F 2022F 2023F 2024F 2025F 2026F
CAGR: XX%
COVID-19 Impact
CAGR: XX%
(1/1)
Figure XX: The U.S. InsurTech Market Revenues (USD Million), 2016-2026F
Market Outline
• The rapid digital literacy would encourage more and more people to buy their policies and make claims online, which is expected to drive the demand for InsurTech in
the country. Moreover, the sheer size of insurance data in the US along with the growing start ups such as Lemonade, Oscar Health, Hippo, Next Insurance, Bright
Health, are expected to establish demand for InsurTech in the U.S.
• As of 2019, the top 3 cities in the U.S. have been California, New York, and Massachusetts, where there are multitudinous new insurtech start ups.
• Other than this, extensive use of advanced technologies in the U.S., such as blockchain, machine learning, artificial intelligence, etc. are enabling insurance companies to
cut down operational costs and drive operational efficiencies. This technology could be used to drive growth and integrate varied insurtech platforms.
The U.S. InsurTech Market, By Revenues

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Table of Content
Sample Illustration
Commercials
Company Profile
About the company
Contact Details
27
62
64
66
Document Outline
16
02

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