Digital Insurance Platform Market by Deployment Mode (Cloud and On-premises), by Component (Services, and Solution), by Application (Automotive, Transportation), by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2018 to 2025

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Digital Insurance Platform Market: Summary

The Global Digital Insurance Platform Market is estimated to reach USD 198.4 Billion by 2025 at a CAGR of 14.3%, states forencis research (FSR).

The digital insurance is a model provide information of insurance policies which solves multiple critical issues and operational problems. Digital Insurance Platform was planned and experience to advance the challenges of emerging and disruptive technologies. Its helps the consumers to access information of insurance with the use to this technology. However, it can help insurers in scaling their various operations costs and services by provide information. Furthermore, it speeds up sales, services and increases the overall efficiency of the business model.

 

Digital Insurance Platform Market: Drivers & Restraints

Market Drivers:

  • Growing Demand for Machine Learning Service

Increasing demand for machine learning service boosts customer service and keeps track of internal costs and profits. These services would lead to the rising demand for customer lifetime value (CLV) prediction. However, it creates personalized insurance experiences and improves Return on Investment (ROI) of the companies. As insurance companies are mostly working with data which increases the digital transformation platform and implements machine learning solutions.

Hence, the growing demand for machine learning services is expected to surge the digital insurance platform market during the forecast period.

  • Rising Adoption for Cloud Computing Technology

A digital insurance platform is built to move carriers and understand the demand closer to its customers’ requirements. These technologies are delivered on a business platform-as-a-service basis. Moreover, it increases operational efficiency and increases the customer self-service.

Therefore, the rising adoption for cloud computing technology is expected to drive the digital insurance platform market during the forecast period.

Market Challenges:

  • Risk of Cyberattack

Since long, cyber risks have been anticipated among the top ten business risks, across many industries, globally. Cyber risk and cyberattack could put insurers in a precarious situation. However, cyber insurance is used to protect the data and protect businesses globally. It can also cover data destruction, identify recovery and malware software.

Hence, the risk of cyberattacks are anticipated to hinder the growth of the Digital Insurance Platform.

Digital Insurance Platform Market: Key Segments

  • Based on Deployment Mode: Cloud, and On-premises
  • Based on Component: Services, and Solution
  • On Based of Application: Automotive, Transportation, Travel, Consumer Electronics, Home and Buildings, and Others
  • Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis. 

Digital Insurance Platform Market: Report Scope

the report on the digital insurance platform market covers a deep dive analysis of historic, recent and current market trends. furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018-2025

Base Year for Market Calculation

2019

Forecasted Period

2020-2025 (2020 estimated year, forecasted up to 2025)

Measured Units

Value (USD Million)

Segments Included

Deployment mode, Component, Application, and Region

Regional Coverage

Asia-Pacific, North America, Europe, Middle East & Africa, and South America

 

Key Companies Covered

  • IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Microsoft Corporation
  • Accenture
  • SAP SE
  • Tata Consultancy Services Limited
  • Cognizant
  • Oracle
  • Infosys Limited
  • DXC Technology Company
  • Other Key Companies 

Digital Insurance Platform Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

 

Digital Insurance Platform Market, by Deployment Mode

  • Cloud
  • On-premises

Digital Insurance Platform Market, by Component

  • Services
    • Customer Centricity
      • Onboarding and Training
      • Compensation Planning
      • Omnichannel Customer Service
    • Product Agility
      • Billing and Payments
      • Product and Policy Lifecycle
    • Business Networks
      • Supplier Management
      • Operational Procurement
    • Profit and Risk Control
      • Financials Assets Management
      • Profitability
    • Solution
      • Maintenance
      • Support

Digital Insurance Platform Market, by Application

  • Automotive
  • Transportation
  • Consumer Electronics
  • Home and Buildings
  • Others

Digital Insurance Platform Market, by Region

  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • Rest of Asia-Pacific
  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions answered by the report

  • What are the major developments impacting the global market and its growth?
  • What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
  • What are the evolving types of the global market?
  • What are the evolving applications of global market?
  • What are the major characteristics that will affect the global market growth during the study period?
  • Who are the key global players operating in the market?
  • How are the major players leveraging in the existing global market conditions?

Report Audience

  • Digital Insurance Platform Market Providers
  • Digital Insurance Platform Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Digital Insurance Platform Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SUBMARINE POWER CABLES MARKET STUDY

1      INTRODUCTION

1.1       Research Objectives

1.2       Market Definition

1.3       Research Scope

1.4       Regional Coverage

1.5       Research Timeline

1.6       Assumptions

1.7       Limitations

2      RESEARCH DESIGN & SCOPE

2.1       Introduction

2.2       Primary Research

                                  2.2.1    Key Industry Expert Insight

2.3       Secondary Research

                                  2.3.1    Vital Data from Secondary Sources

2.4       Market Size Estimation

2.5       Data Validation & Triangulation

3      EXECUTIVE SUMMARY

4      MARKET DYNAMICS

4.1       Introduction

4.2       Drivers

                                 4.2.1.    Growing Demand for Machine Learning Service

                                 4.2.2.    Rising Adoption for Cloud Computing Technology

4.3       Opportunities

                                 4.3.1.    Increasing in adoption for IoT technologies

                                 4.3.2.    Adoption for Artificial Intelligence

4.4       Challenges

                                  4.4.1    Lack of Customer Touchpoints and Engagement

                                  4.4.2    Risk of Cyberattack

5      INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS

5.1       Introduction

                                 5.1.1.    Power of Buyers

                                 5.1.2.    Power of Suppliers

                                 5.1.3.    Intensity of Competition

                                 5.1.4.    Challenges of Substitutes

                                 5.1.5.    Challenges of New Entrants

5.2       Macro-Economic Indicators 

6      DIGITAL INSURANCE PLATFORM MARKET BY DEPLOYMENT MODE, Market Size in USD Million (2018—2025)

6.1       Introduction

6.2       Cloud

6.3       On-premises

7      DIGITAL INSURANCE PLATFORM MARKET BY COMPONENT, Market Size in USD Million (2018—2025)

7.1       Introduction

7.2       Services

                                  7.2.1    Customer Centricity

7.2.1.1   Onboarding and Training

7.2.1.2   Compensation Planning

7.2.1.3   Omni channel Customer Service

                                  7.2.2    Product Agility

7.2.2.1   Billing and Payments

7.2.2.2   Product and Policy Lifecycle

                                  7.2.3    Business Networks

7.2.3.1   Supplier Management

7.2.3.2   Operational Procurement

                                  7.2.4    Profit and Risk Control

7.2.4.1   Financials Assets Management

7.2.4.2   Profitability

7.3       Solution

                                  7.3.1    Maintenance

                                  7.3.2    Support

8      DIGITAL INSURANCE PLATFORM MARKET BY APPLICATION, Market Size in USD Million (2018—2025)

8.1       Introduction

8.2       Automotive

8.3       Transportation

8.4       Consumer Electronics

8.5       Home and Buildings

8.6       Others 

9      DIGITAL INSURANCE PLATFORM MARKET BY REGION, Market Size in USD Million (2018—2025)

9.1       North America

                                 8.1.1.    US

                                 8.1.2.    Canada

                                 8.1.3.    Mexico

9.2       Europe

                                 8.2.1.    Germany

                                 8.2.2.    France

                                 8.2.3.    Italy

                                 8.2.4.    UK

                                 8.2.5.    Spain

                                 8.2.6.    The Netherlands

                                 8.2.7.    Rest of Europe

9.3       Asia-Pacific

                                 8.3.1.    China

                                 8.3.2.    Japan

                                 8.3.3.    India

                                 8.3.4.    South Korea

                                 8.3.5.    Taiwan

                                 8.3.6.    Rest of Asia-Pacific

9.4       Middle East & Africa

                                 8.4.1.    Saudi Arabia

                                 8.4.2.    UAE

                                 8.4.3.    Rest of Middle East & Africa

9.5       South America

                                 8.5.1.    Brazil

                                 8.5.2.    Argentina

                                 8.5.3.    Rest of South America

10   COMPETITIVE LANDSCAPE

10.1     Introduction

10.2     Market Ranking/Share Analysis of Key Companies

10.3     Company Benchmarking

11   COMPANY PROFILES

11.1     IBM Corporation

                                11.1.1    Company Overview

                                11.1.2    Financial Overview

                                11.1.3    Products/Solutions/Services Offered

                                11.1.4    Key Developments

                                11.1.5    SWOT Analysis

11.2     Microsoft Corporation

11.3     Accenture

11.4     SAP SE

11.5     Tata Consultancy Services Limited

11.6     Cognizant

11.7     Oracle

11.8     Infosys Limited

11.9     DXC Technology Company

11.10  Other Key Companies 

12   APPENDIX

12.1     Key Industry Expert Insights

12.2     Primary Discussion Guide

 

12.3     Customization Options

Note1: Tentative table of contents, may get updated during the course of research.

Note2: Company financial information is subject to availability in public domain

 

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY

 

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Research Design

Forencis Research follows robust and deep dive research methodologies to deliver accurate – current, estimated and forecasted market data. Our extensive primary and secondary research help in deriving reliable qualitative and quantitative data to provide verified market insights. Our research team tracks historic trends, existing and recent market dynamics, growth prospects, competitor landscape, and the entire value chain dynamics to attain reliable industry facts to reach accurate market estimates. Primary research is conducted through thorough interviews and detailed surveys with the Key Industry Experts and related participants across the value chain. Secondary research entails acquiring data through paid and reliable databases such as annual reports, SEC filings, research publications, association publications, investor presentations, white papers and other sources. All the above-obtained information is further processed and collated with our existing database prior to its presentation in our publications.

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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Report Code

ICT 035

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Key Questions Answered by the Report

  • Major factors impacting the market and its growth
  • Evolving Types of the various products in the Market
  • Evolving Application of the various products in the Market
  • Growing countries in the Global Market
  • Effects of the developments in the market on the industry and on the market players
  • Key market developments undertaken by the leading players

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