Digital Innovation in Insurance Market by Insurance Type (Health Insurance, Motor Insurance, Home insurance, Travel Insurance, Commercial Insurance, and Others) and Technology (Cloud Computing, Internet of Things (IoT), Advanced Analytics, Telematics, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2027
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May 2020 |
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Insurance companies have shifted to adoption of transformative digital technologies to help support current income and revenue opportunities. Digital platforms enable personalization and strengthen connections with customers by providing new offerings and services. Digital platform allows access to deeper insights from data analytics, and applies it to new business models to reduce risk and fraud, and improve segmentation and reduce fraud.
Need to overhaul traditional business models, cost reduction, increased efficiency, and rise in profit margin drive the global digital innovation in insurance market. However, insurance companies are yet to fully capitalize upon the transformative power of digital technology, and many are still in the process to develop digital strategies that align with their business objectives. Use of digital channels to create new products and services presents a major opportunity for market development market.
The global digital innovation in insurance market is segmented on the basis of insurance type, technology, and region. Insurance types covered in this study include health insurance, motor insurance, home insurance, travel insurance, commercial insurance, and others (personal accident insurance, marine (cargo) insurance, and rural). Based on technology, the market is divided into cloud computing, Internet of Things (IoT), advanced analytics, telematics, and others (digital platforms, GPS, mobile phones, drones, blockchain, smart contracts, and artificial intelligence). Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in this market are AXA, Zurich, China Life Insurance Company Ltd., Berkshire Hathaway Inc., Prudential Financial, Inc., UnitedHealth Group, Munich Re Group, ASSICURAZIONI GENERALI S.P.A., JAPAN POST HOLDINGS Co., Ltd., and Allianz.
Key Benefits
- The study provides an in-depth analysis of the global digital innovation in insurance market and current & future trends to elucidate the imminent investment pockets.
- Information about the key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porters Five Forces analysis illustrates the potency of buyers & suppliers operating in the industry.
- The quantitative analysis of the global market from 2017 to 2023 is provided to determine the market potential.
Digital Innovation In Insurance Market Key Segments:
By Insurance Type
- Health Insurance
- Motor Insurance
- Home insurance
- Travel Insurance
- Commercial Insurance
- Others (Personal Accident Insurance, Marine (Cargo) Insurance, and Rural)
By Technology
- Cloud Computing
- Internet of Things (IoT)
- Advanced Analytics
- Telematics
- Others (Digital Platforms, GPS, Mobile Phones, Drones, Blockchain, Smart Contracts, and Artificial Intelligence)
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players Profiled In The Report
- AXA
- Zurich
- China Life Insurance Company Ltd.
- Berkshire Hathaway Inc.
- Prudential Financial, Inc.
- UnitedHealth Group
- Munich Re Group
- ASSICURAZIONI GENERALI S.P.A.
- JAPAN POST HOLDINGS Co., Ltd.
- Allianz
CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. MARKET SHARE ANALYSIS, 2016
3.4. PORTER’S FIVE FORCES ANALYSIS
3.4.1. MARKET DYNAMICS
3.4.2. Drivers
3.4.3. Restraints
3.4.4. Opportunities
CHAPTER 4 DIGITAL INNOVATION IN INSURANCE MARKET, BY INSURANCE TYPE
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. HEALTH INSURANCE
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.3. MOTOR INSURANCE
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4. HOME INSURANCE
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast
4.5. TRAVEL INSURANCE
4.5.1. Key market trends
4.5.2. Growth factors and opportunities
4.5.3. Market size and forecast
4.6. COMMERCIAL INSURANCE
4.6.1. Key market trends
4.6.2. Growth factors and opportunities
4.6.3. Market size and forecast
4.7. OTHERS (PERSONAL ACCIDENT INSURANCE, MARINE (CARGO) INSURANCE, RURAL)
4.7.1. Key market trends
4.7.2. Growth factors and opportunities
4.7.3. Market size and forecast
CHAPTER 5 DIGITAL INNOVATION IN INSURANCE MARKET, BY TECHNOLOGY
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. CLOUD COMPUTING
5.2.1. Key market trends
5.2.2. Growth factors and opportunities
5.2.3. Market size and forecast
5.3. INTERNET OF THINGS (IOT)
5.3.1. Key market trends
5.3.2. Growth factors and opportunities
5.3.3. Market size and forecast
5.4. ADVANCED ANALYTICS
5.4.1. Key market trends
5.4.2. Growth factors and opportunities
5.4.3. Market size and forecast
5.5. TELEMATICS
5.5.1. Key market trends
5.5.2. Growth factors and opportunities
5.5.3. Market size and forecast
5.6. OTHERS (DIGITAL PLATFORMS, GPS, MOBILE PHONES, DRONES, BLOCKCHAIN, SMART CONTRACTS, ARTIFICIAL INTELLIGENCE)
5.6.1. Key market trends
5.6.2. Growth factors and opportunities
5.6.3. Market size and forecast
CHAPTER 6 DIGITAL INNOVATION IN INSURANCE MARKET, BY GEOGRAPHY
6.1. OVERVIEW
6.2. NORTH AMERICA
6.2.1. Key market trends
6.2.2. Key growth factors and opportunities
6.2.3. Market size and forecast
6.2.3.1. U.S. market size and forecast
6.2.3.2. Canada market size and forecast
6.2.3.3. Mexico market size and forecast
6.2.4. North America Digital Innovation in Insurance Market by Insurance Type
6.2.5. North America Digital Innovation in Insurance Market by Technology
6.3. EUROPE
6.3.1. Key market trends
6.3.2. Key growth factors and opportunities
6.3.3. Market size and forecast
6.3.3.1. Germany market size and forecast
6.3.3.2. France market size and forecast
6.3.3.3. UK market size and forecast
6.3.3.4. Italy market size and forecast
6.3.3.5. Spain market size and forecast
6.3.3.6. Rest of Europe market size and forecast
6.3.4. Europe Digital Innovation in Insurance Market by Insurance Type
6.3.5. Europe Digital Innovation in Insurance Market by Technology
6.4. ASIA-PACIFIC
6.4.1. Key market trends
6.4.2. Key growth factors and opportunities
6.4.3. Market size and forecast
6.4.3.1. Japan market size and forecast
6.4.3.2. China market size and forecast
6.4.3.3. Australia market size and forecast
6.4.3.4. India market size and forecast
6.4.3.5. South Korea market size and forecast
6.4.3.6. Taiwan market size and forecast
6.4.3.7. Rest of Asia-Pacific market size and forecast
6.4.4. Asia-Pacific Digital Innovation in Insurance Market by Insurance Type
6.4.5. Asia-Pacific Digital Innovation in Insurance Market by Technology
6.5. LAMEA
6.5.1. Key market trends
6.5.2. Key growth factors and opportunities
6.5.3. Market size and forecast
6.5.3.1. Brazil market size and forecast
6.5.3.2. Turkey market size and forecast
6.5.3.3. Saudi Arabia market size and forecast
6.5.3.4. South Africa market size and forecast
6.5.3.5. Rest of LAMEA market size and forecast
6.5.4. LAMEA Digital Innovation in Insurance Market by Insurance Type
6.5.5. LAMEA Digital Innovation in Insurance Market by Technology
CHAPTER 7 COMPANY PROFILES
7.1. AXA
7.1.1. Operating business segments
7.1.2. Business performance
7.1.3. Key strategic moves and developments
7.2. ZURICH
7.2.1. Operating business segments
7.2.2. Business performance
7.2.3. Key strategic moves and developments
7.3. CHINA LIFE INSURANCE COMPANY LTD.
7.3.1. Operating business segments
7.3.2. Business performance
7.3.3. Key strategic moves and developments
7.4. BERKSHIRE HATHAWAY INC.
7.4.1. Operating business segments
7.4.2. Business performance
7.4.3. Key strategic moves and developments
7.5. PRUDENTIAL FINANCIAL, INC.
7.5.1. Operating business segments
7.5.2. Business performance
7.5.3. Key strategic moves and developments
7.6. UNITEDHEALTH GROUP
7.6.1. Operating business segments
7.6.2. Business performance
7.6.3. Key strategic moves and developments
7.7. MUNICH RE GROUP
7.7.1. Operating business segments
7.7.2. Business performance
7.7.3. Key strategic moves and developments
7.8. ASSICURAZIONI GENERALI S.P.A.
7.8.1. Operating business segments
7.8.2. Business performance
7.8.3. Key strategic moves and developments
7.9. JAPAN POST HOLDINGS CO., LTD.
7.9.1. Operating business segments
7.9.2. Business performance
7.9.3. Key strategic moves and developments
7.10. ALLIANZ
7.10.1. Operating business segments
7.10.2. Business performance
7.10.3. Key strategic moves and developments
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