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The Digital Insurance Platform is a business model that allows insurance sector players to connect to multiple critical challenges in building high value ecosystems through a single unified framework. The platform helps insurers to move from traditional business processes to digital to high value insurance ecosystems. It allows insurers to scale up and down their operations with built-in end-to-end functionality. Digital insurance platforms allow insurance providers to provide central core schemes with productivity and to differentiate between customer experience and ease of composition.
The aim of the report is to estimate the size of the market for Digital Insurance Platform and the future growth potential of the market for Digital Insurance Platform across various segments, such as base service type, Deployment and industry vertical industry. The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated.
The primary duty of providers of digital insurance platforms is to ensure that digital insurance technologies are correctly implemented and incorporated in accordance with the unique needs of customers. The digital insurance network provider's services are divided into consulting, implementation, support and maintenance management and technical services. Managed services are primarily used by businesses as managed service providers take control of digital insurance channels, while companies can rely on their core business skills. In addition, Digital Insurance as a Service (DIaaS) provides businesses integrating major insurance, technology and service applications into business processes in a single way to provide consumers with effective and efficient insurance solutions. DIaaS provides omni-channel digital customer engagement channels, accounting and claims management systems, application and technology services, and cyber security.
In addition, Things Internet Adopting Products (IoT) is growing, by rising assurers' attention to customer-centered strategies and insurers' awareness of digitizing networks. The growth will increase digital insurance platforms. A key factor that will limit the growth of the digital platform industry is that digital insurance platforms are difficult to integrate with legacy structures.
North America is estimated to have the largest market share in 2018, with the APAC projected to increase to the highest CAGR during the forecast period. In view of the untapped opportunities and increased commercial investment in various vertical industries in the country, APAC is expected to be a cash-spinner market for providers of digital insurance platforms during the forecast period. The exploration of the APAC market by partners with local companies, channel partners and technology partners is expected to be a priority for multiple companies.
Key Segments of the Global Digital Insurance Platform Market
Component Overview, 2018-2028 (USD Million)
Important Companies in Global Digital Insurance Platform market
Reasons for the study
What does the report include?
Who should buy this report?
The Digital Insurance Platform is a business model that allows insurance sector players to connect to multiple critical challenges in building high value ecosystems through a single unified framework. The platform helps insurers to move from traditional business processes to digital to high value insurance ecosystems. It allows insurers to scale up and down their operations with built-in end-to-end functionality. Digital insurance platforms allow insurance providers to provide central core schemes with productivity and to differentiate between customer experience and ease of composition.
The aim of the report is to estimate the size of the market for Digital Insurance Platform and the future growth potential of the market for Digital Insurance Platform across various segments, such as base service type, Deployment and industry vertical industry. The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated.
The primary duty of providers of digital insurance platforms is to ensure that digital insurance technologies are correctly implemented and incorporated in accordance with the unique needs of customers. The digital insurance network provider's services are divided into consulting, implementation, support and maintenance management and technical services. Managed services are primarily used by businesses as managed service providers take control of digital insurance channels, while companies can rely on their core business skills. In addition, Digital Insurance as a Service (DIaaS) provides businesses integrating major insurance, technology and service applications into business processes in a single way to provide consumers with effective and efficient insurance solutions. DIaaS provides omni-channel digital customer engagement channels, accounting and claims management systems, application and technology services, and cyber security.
In addition, Things Internet Adopting Products (IoT) is growing, by rising assurers' attention to customer-centered strategies and insurers' awareness of digitizing networks. The growth will increase digital insurance platforms. A key factor that will limit the growth of the digital platform industry is that digital insurance platforms are difficult to integrate with legacy structures.
North America is estimated to have the largest market share in 2018, with the APAC projected to increase to the highest CAGR during the forecast period. In view of the untapped opportunities and increased commercial investment in various vertical industries in the country, APAC is expected to be a cash-spinner market for providers of digital insurance platforms during the forecast period. The exploration of the APAC market by partners with local companies, channel partners and technology partners is expected to be a priority for multiple companies.
Key Segments of the Global Digital Insurance Platform Market
Component Overview, 2018-2028 (USD Million)
Important Companies in Global Digital Insurance Platform market
Reasons for the study
What does the report include?
Who should buy this report?
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.5 PEST Analysis
4.6. Regulatory Landscape
4.7 COVID-19 Impact Analysis
Chapter 5 Digital Insurance Platform Market by Component
5.1 Introduction
5.2 Solution
5.3 Services
Chapter 6 Digital Insurance Platform Market by Deployment
6.1 Introduction
6.2 Cloud
6.3 On-premise
Chapter 7 Digital Insurance Platform Market by Industry Vertical
7.1 Introduction
7.2 Automotive and Transportation
7.3 Home and Commercial Buildings
7.4 Life and Health
7.5 Business and Enterprise
7.6 Consumer Electronics and Industrial Machines
7.7 Travel
Chapter 8 Competitive Landscape
8.1 Overview
8.2 Strategic Analysis
8.2.1 Mergers & Acquisitions
8.2.2 New Product Launch
8.2.3 Investments
8.2.4 Expansion
8.2.5 Customer Targeting
Chapter 9 Company Profiles
(Overview, Products and Services Portfolio, Recent Initiatives, Company Financials, SWOT)
9.1 CodeEast Digital Systems Ltd.
9.2 Mindtree Ltd.
9.3 DXC Technology Company
9.4 Inzura Ltd.
9.5 Knowarth
9.6 Lemonade Insurance Company
9.7 EIS Group Software Ltd.
9.8 Majesco
9.9 Cogitate Technology Solutions, LLC.
9.10 StoneRiver