Global Big Data in the Insurance Market- Future Growth, Industry Verticals, and Forecast to 2030

ResearchMoz.us present a comprehensive research report namely “Big Data in the Insurance Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts” ” which reveals an extensive analysis of global industry by delivering the detailed information about Forthcoming Trends, Customer’s Expectations, Technological Improvements, Competitive Dynamics and Working Capital in the Market. This is an in-depth study of the market enlightening key forecast to 2030.

The global Big Data in the Insurance Market is valued at xx million US$ in 2019 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025. SNS Telecom & IT estimates that Big Data investments in the insurance industry will account for more than $2.4 Billion in 2018 alone.

Geographical Breakdown based on the growth rate, macroeconomic parameters, consumer buying patterns, and Market demand and supply scenarios. The report provides an in-depth insight into the global Big Data in the Insurance Market covering all important parameters that cover Market Challenge, Driver, Trends & Forecast.

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In-Depth Qualitative Analyses Include Identification and Investigation of the Following Aspects: Big Data in the Insurance Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces.

This Report Covers Leading Companies Associated in Big Data in the Insurance Market:

• AVORA
• AWS (Amazon Web Services)
• AXA
• Axiomatics
• Ayasdi
• BackOffice Associates
• Basho Technologies
• BCG (Boston Consulting Group)
• Bedrock Data
• BetterWorks
• Big Panda
• BigML
• Birst
• Bitam
• Blue Medora
• BlueData Software
• Cigna
• Cisco Systems
• Civis Analytics

more……

Based on type/product, this report shows the business volume, income (Million USD), product value, piece of the pie and development pace of each kind, basically split into-

• Hardware
• Software
• Professional Services

On the premise of the end users/applications, this report centers around the status and standpoint for significant applications/end users, deals volume, piece of the overall industry and development pace of Big Data in the Insurance Market showcase for every application, including-

• Auto Insurance
• Property & Casualty Insurance
• Life Insurance
• Health Insurance
• Multi-Line Insurance
• Other Forms of Insurance
• Reinsurance
• Insurance Broking

Big Data in the Insurance Market Regional Analysis Includes:

⇛ Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
⇛ Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
⇛ North America (the United States, Mexico, and Canada.)
⇛ South America (Brazil etc.)
⇛ The Middle East and Africa (GCC Countries and Egypt.)

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Key Findings

The report has the following key findings:

• In 2018, Big Data vendors will pocket more than $2.4 Billion from hardware, software and professional services revenues in the insurance industry. These investments are further expected to grow at a CAGR of approximately 14% over the next three years, eventually accounting for nearly $3.6 Billion by the end of 2021.
• Through the use of Big Data technologies, insurers and other stakeholders are beginning to exploit their data assets in a number of innovative ways ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
• The growing adoption of Big Data technologies has brought about an array of benefits for insurers and other stakeholders. Based on feedback from insurers worldwide, these include but are not limited to an increase in access to insurance services by more than 30%, a reduction in policy administration workload by up to 50%, prediction of large loss claims with an accuracy of nearly 80%, cost savings in claims processing and management by 40-70%, accelerated processing of non-emergency insurance claims by a staggering 90%; and improvements in fraud detection rates by as much as 60%.
• In addition, Big Data technologies are playing a pivotal role in facilitating the adoption of on-demand insurance models – particularly in auto, life and health insurance, as well as the insurance of new and underinsured risks such as cyber crime.

The Big Data in the Insurance Market report answers important questions which include:⟴ What shape is the Big Data in the Insurance Market expected to take in terms of volume and value during the study period?
⟴ What are some of the prevailing market dynamics in the Big Data in the Insurance Market?
⟴ What are the competition developments and trends in the Big Data in the Insurance Market?
⟴ What are some of the underlying macro-economic and industry factors impacting the growth of the Big Data in the Insurance Market?
⟴ What are the important key challenges, opportunities and improvement factors for the Big Data in the Insurance Market players?
⟴ What are the important market positioning and key strategies of key manufacturers as per the Big Data in the Insurance Market taxonomy?

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