Insurtech Market Outlook

The insurtech market size is projected to be valued at US$ 20,667.5 million in 2023 and is expected to rise to US$ 210,664.3 million by 2033. The sales of insurtech are projected to expand at a significant CAGR of 26.1% during the forecast period.

The demand for insurtech solutions is rising as it makes better predictions of consumer demands, increases purchasing quantities, and enhances decision-making and insurance planning through the use of machine learning, artificial intelligence, and cloud computing.

The sales of insurtech solutions are growing due to the support of various robust technologies like AI, machine learning, blockchain, and cloud computing that offer real-time surveillance and monitoring of insured activity for many businesses.

Attributes Details
Insurtech Market Estimated Size (2023) US$ 20,667.5 million
Insurtech Market CAGR (2023 to 2033) 26.1%
Insurtech Market Forecasted Size (2033) US$ 210,664.3 million

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2018 to 2022 Insurtech Market Outlook in Comparison to 2023 to 2033 Growth Forecast

Over the past years, the Insurtech industry has witnessed a steady rise in sales, driven by the factors such as:

  • Advancements in technology.
  • Changing consumer preferences.
  • The need for digital solutions in the insurance sector.

Companies have been leveraging technologies such as artificial intelligence, big data analytics, machine learning, and blockchain to streamline insurance processes, enhance customer experience, and offer innovative insurance products.

As per the Insurtech industry research by Future Market Insights, historically, from 2018 to 2022, the market value of the Insurtech industry increased at around 24.0% CAGR.

Looking ahead, the future outlook for the Insurtech market remains positive. There is an increasing demand for personalized and on-demand insurance solutions that cater to the evolving needs of customers. Insurtech companies are well-positioned to deliver customized policies, automated claims processing, and real-time risk assessment, thereby offering great convenience and efficiency.

The growing adoption of digital platforms and mobile applications is reshaping the insurance landscape. Insurtech firms are capitalizing on these platforms to provide seamless user experiences, facilitate policy management, and enable easy access to insurance services.

The increasing focus on insurtech collaborations and partnerships with traditional insurance companies is expected to drive market expansion. These collaborations allow insurers to tap into the innovative technologies and capabilities of insurtech startups while providing insurtech companies with access to established distribution channels and customer bases.

What are the Key Dynamics Governing the Growth of the Insurtech Market?

The sales of insurtech solutions are growing due to shifting business models. Companies are utilizing innovative digital solutions to scale their businesses and build product lines depending on niche client demand. It is estimated to propel the demand for insurtech solutions and aid in insurtech market growth.

Different insurance sector norms and laws, as well as privacy and security concerns, are some of the factors that limit insurtech market expansion. Furthermore, the rising demand for insurtech solutions in growing nations, particularly emerging economies such as Australia, China, India, Singapore, and South Korea, provides considerable prospects for the sales of insurtech solutions to expand the overall insurtech market.

The use of technologies like cloud computing, artificial intelligence, and blockchain to help with loss prediction and prevention, risk monitoring, and claim processing is becoming a prominent factor. It is predicted to give attractive opportunities for the insurtech market to grow.

Insurance is one of the most conservative sectors, but insurtech companies are causing havoc in the insurtech market globally. According to Accenture, a consulting and professional services firm, roughly 86 percent of insurers plan to innovate and enhance existing business models. It is to meet the rising demand for insurtech solutions and maintain a competitive position by 2033.

Insurance companies all over the world are turning to innovative digital solutions to scale their operations as business models change and provide a tailored consumer experience, and boost the sales of insurtech solutions. As a result, the increasing digitalization of existing insurance business models is propelling the demand for insurtech solutions.

Various laws establish varied norms and regulations across countries, with financial centers taking a united approach to regulation. This becomes a critical issue for insurtech companies to develop insurtech solutions across several regulations such as MiFID II, GDPR, and others, which causes inter-regulation conflict. As a result, this factor stifles the insurtech market's growth.

For example:

In the United States of America, the National Association of Insurance Commissioners (NAIC) oversees and regulates the insurance business, whereas, in Europe, MiFID II requirements apply to insurance companies under its jurisdiction. This is one of the primary factors impacting the sales of insurtech solutions and insurtech market expansion.

Sudip Saha
Sudip Saha

Principal Consultant

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Comparative View of the Adjacent Market

Insurtech Market:

Attributes Insurtech Market
How can Manufacturers/Service Providers Scale their Businesses in the Market?
  • Expand Product Profiles.
  • Branding and Marketing
  • Expand on untapped economies.
  • Focus on sustainability
CAGR (2023 to 2033) 26.1%
Market Value (2033) US$ 210,664.3 million
Growth Factor The use of technologies like cloud computing, AI, and blockchain to help with loss prediction and prevention, risk monitoring, and claim processing
Opportunity As several insurers embrace new business models, developing economies offer significant opportunities for Insurtech solution providers to grow their offerings.
Key Trends Innovative digital solutions are being used by businesses to grow their operations and establish product lines based on particular client demands.

Artificial Intelligence (AI) in Insurance Market:

Attributes Artificial Intelligence (AI) in Insurance Market
How can Manufacturers/Service Providers Scale their Businesses in the Market?
  • Aftersales services.
  • Mergers and Collaborations.
  • Geographical Expansions
CAGR (2023 to 2033) 24.5%
Market Value (2033) US$ 8.94 billion
Growth Factor The increasing need for personalized insurance services had a direct impact on the use of artificial intelligence (AI) in the insurance market.
Opportunity Growing investments in advanced technologies like AI and IoT are also helping to propel artificial intelligence (AI) in the insurance market forward.
Key Trends Rising demand to automate operational processes and the expanding amount and speed of data collection brought on by the adoption of IoT.

IoT Insurance Market:

Attributes IoT Insurance Market
How can Manufacturers/Service Providers Scale their Businesses in the Market?
  • Reusability
  • Cost-effectiveness
  • Focus on sustainability
CAGR (2023 to 2033) 63%%
Market Value (2033) US$ 449.63 billion
Growth Factor Growing demand for cloud platforms and other value-added services in the insurance business, as well as increased usage of Internet of Things (IoT) goods in established and emerging economies.
Opportunity Insurers may use IoT-enabled devices to collect intelligent data to track health, detect irregularities, and decrease risks for policyholders.
Key Trends In-built sensors and global positioning systems are assisting insurers in tracking, locating, analyzing vehicles, and monitoring driving patterns during th

According to a survey performed by EIS Group, a software business, 59% of insurance companies want to boost their digital infrastructure expenditure. As a result of this, the global insurtech market is predicted to rise.

Blockchain technology's advantages, such as cost savings, speedy payments, and fraud avoidance, are increasing demand for insurtech solutions among insurance businesses all over the world. Insurers employ blockchain technology for Know Your Customer (KYC), Anti-Money Laundering (AML) procedures, claim administration, and peer-to-peer models.

Many insurtech companies are focusing on employing deep learning-capable artificial intelligence (AI) to assist agents in completing jobs quickly and finding the right mix of policies to complete a person's coverage. This, in turn, is projected to boost the sales of insurtech solutions.

On-demand insurance is gaining popularity among consumers since it allows them to obtain insurance coverage on their cell phones at their leisure. Innovative technologies such as the Internet of Things, artificial intelligence, big data, and predictive maintenance are significantly used by businesses in the on-demand insurance industry.

Category-wise Insights of Insurtech

What is the Segmentation Outlook for the Insurtech Market?

With a CAGR of 25.8%, the Solution Segment is Anticipated to Dominate the Global Insurtech Market during the Forecast Period.

Several insurance businesses are notably adopting these insurtech solutions to create a technology-based service platform for their consumers. These technologies offer a variety of advantages, including simplified claim processing, lower policy rates, less fraud activity, and lower underwriting expenses, among others.

Which Segment is Likely to Lead the Insurtech Market by Technology?

During the forecast period, the cloud computing category is predicted to dominate the insurtech market with a CAGR of 25.2%. With its resourcefulness, ease of deployment, and flexibility, cloud computing has revolutionized the insurance market.

The sales of insurtech solutions are projected to be fueled by widespread acceptance of Bring Your Own Device (BYOD) rules, as well as the growing amount of data that insurance companies collect. Moreover, benefits such as rapid deployment, cost-effectiveness, and scalability are driving insurance businesses to use cloud computing technologies. Over the projected period, the blockchain segment in insurtech market is expected to rise at a significant pace.

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Regional Analysis of the Insurtech Market

The United States Holds a Prominent Position in the Insurtech Market, Capturing a Significant Share of 16.6% in its Growth and Development.

The United States insurance industry has been quick to embrace technology-driven innovations, leading to the emergence of numerous Insurtech startups and attracting substantial investments in the sector. Moreover, the United States insurance industry has witnessed an increasing emphasis on data analytics and artificial intelligence.

Insurtech firms harness these technologies to analyze vast amounts of data, assess risk profiles accurately, and offer tailored insurance solutions. Furthermore, the United States regulatory environment has been relatively supportive of innovation in the insurance sector, fostering a favorable ecosystem for Insurtech companies to thrive.

Countries in Europe have been at the Forefront of Embracing Technological Advancements in Insurance, Leading to the Emergence of Digital Insurance Solutions and Platforms.

Europe is a prominent player in the global market with an influential market share of 21.2% in 2022. Insurtech companies in Europe are leveraging technologies such as artificial intelligence, data analytics, and automation to offer enhanced customer experiences, streamline operations, and develop innovative insurance products.

The European Union has also taken steps to support the growth of Insurtech. Initiatives such as the EU's Digital Single Market strategy and regulatory sandboxes facilitate experimentation and provide a conducive environment for Insurtech startups. It is to develop and deploy their innovations.

Insurtech companies in Europe are leveraging data analytics and telematics to assess risks accurately, improve underwriting processes, and offer dynamic pricing models. By harnessing advanced technologies, they can provide real-time insights, optimize claims handling, and offer value-added services to customers.

India is Emerging as a Promising Player in the Insurtech Market, Showcasing Significant Growth of 28.7% between 2023 and 2033.

In India, Insurtech startups are leveraging technology to disrupt traditional insurance models and address the evolving needs of customers. The rise of smartphone usage and internet connectivity has enabled Insurtech companies to reach a wide customer base and offer digital insurance solutions.

The government of India has also played a proactive role in supporting the growth of Insurtech. Initiatives such as the Digital India campaign and regulatory sandboxes have created a conducive environment for startups to experiment and innovate. Furthermore, the Insurance Regulatory and Development Authority of India (IRDAI) has introduced progressive regulations to foster Insurtech innovation while ensuring consumer protection.

How is the Competition in the Insurtech Market?

By providing digital brokerage and insurance marketplaces, insurtech companies are attempting to bridge the gap between customers and insurance providers. Further, insurers have been forced to implement digital technologies that focus on the client interface due to the oversaturation of the insurance market and fierce rivalry among insurers.

Insurtech software is developed to assist insurers in developing partnerships and streamlining claim processes to increase client acquisition.

Recent Developments in the Insurtech Market

  • Amodo, formed a relationship with Galileo Platforms Limited, a technology firm, in December 2020. The companies might leverage blockchain technologies to enable insurance companies to deliver new insurance products and alter their client experience as a result of their relationship.
  • Amazon Web Services Inc. announced in November 2021 that it has been chosen as a preferred public cloud provider by American International Group, Inc., an insurance company. The American International Group hopes to improve customer service through this effort.
  • Metromile, an auto insurance business, stated in December 2021 that subscribers might be able to pay premiums and claim payouts using Bitcoin. This initiative should assist the organization to improve its market position.
  • Universal Fire & Liability Insurance Company, which specializes in providing traditional property and casualty insurance to small enterprises, began accepting cryptocurrencies for premium payments in June 2021.

Scope of the Report

Attributes Details
Growth Rate CAGR of 26.1% from 2023 to 2033
Base Year of Estimation 2023
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in US$ billion and Volume in Units and F-CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis
Key Segments Covered Component, Offerings, Deployment Mode, Technology, Vertical, By Region
Regions Covered North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania
Key Countries Profiled The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia
Key Companies Profiled Damco Group; DXC Technology Company; Majesco; Oscar Insurance; OutSystems
Customization & Pricing Available upon Request

Key Segments Covered in the Insurtech Market Report

By Offering:

  • Solution
  • Service

By Deployment Model:

  • On-premise
  • Cloud

By Technology:

  • Artificial Intelligence
  • Cloud Computing
  • Blockchain
  • Big Data & Business Analytics
  • IoT
  • Others

By End User:

  • Life & Health Insurance
  • Property and Casualty (P&C) Insurance
  • Auto Insurance
  • Buildings Insurance
  • Commercial Buildings Insurance
  • Home Insurance
  • Dwelling Coverage
  • Contents Coverage
  • Marine Insurance
  • Liability Insurance
  • Others

By Application:

  • Product Development & Underwriting
  • Sales & Marketing
  • Policy Admin Collection & Disbursement
  • Claims Management

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan (APEJ)
  • Japan
  • The Middle East & Africa (MEA)

Frequently Asked Questions

What is the size of the Insurtech industry?

The estimated size of the market is US$ 20,667.5 million in 2023.

Where is the Insurtech Market heading?

The Insurtech market is anticipated to secure a valuation of US$ 2,10,664.3 million by 2033.

Which Segment is Likely to Lead the Insurtech Market by Technology?

The cloud computing category is predicted to lead the market by technology.

What is the Competitive Market Strategy for Key Players?

The market players attempt to bridge the gap between consumers and insurance providers by providing digital brokerage and insurance marketplaces.

What was the United States’s contribution to the Insurtech Market?

The United States market held a prominent global share of 16.6% in 2022.

Table of Content
1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Regions

        3.6.2. By Key Countries

    3.7. Regional Parent Market Outlook

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Offering

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Offering, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Offering, 2023 to 2033

        5.3.1. Solution

        5.3.2. Service

    5.4. Y-o-Y Growth Trend Analysis By Offering, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Offering, 2023 to 2033

6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Model

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Deployment Model, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Model, 2023 to 2033

        6.3.1. On-premise

        6.3.2. Cloud

    6.4. Y-o-Y Growth Trend Analysis By Deployment Model, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Deployment Model, 2023 to 2033

7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) Analysis by Technology, 2018 to 2022

    7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast by Technology, 2023 to 2033

        7.3.1. Artificial Intelligence

        7.3.2. Cloud Computing

        7.3.3. Blockchain

        7.3.4. Big Data & Business Analytics

        7.3.5. IoT

        7.3.6. Others

    7.4. Y-o-Y Growth Trend Analysis by Technology, 2018 to 2022

    7.5. Absolute $ Opportunity Analysis by Technology, 2023 to 2033

8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User

    8.1. Introduction / Key Findings

    8.2. Historical Market Size Value (US$ Million) Analysis By End User, 2018 to 2022

    8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End User, 2023 to 2033

        8.3.1. Life & Health Insurance

        8.3.2. Property and Casualty (P&C) Insurance

            8.3.2.1. Auto Insurance

            8.3.2.2. Commercial Buildings Insurance

            8.3.2.3. Dwelling Coverage

            8.3.2.4. Contents Coverage

        8.3.3. Marine Insurance

        8.3.4. Liability Insurance

        8.3.5. Others

    8.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022

    8.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033

9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application

    9.1. Introduction / Key Findings

    9.2. Historical Market Size Value (US$ Million) Analysis By Application, 2018 to 2022

    9.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Application, 2023 to 2033

        9.3.1. Product Development & Underwriting

        9.3.2. Sales & Marketing

        9.3.3. Policy Admin Collection & Disbursement

        9.3.4. Claims Management

    9.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    9.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region

    10.1. Introduction

    10.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022

    10.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033

        10.3.1. North America

        10.3.2. Latin America

        10.3.3. Europe

        10.3.4. South Asia

        10.3.5. East Asia

        10.3.6. Oceania

        10.3.7. MEA

    10.4. Market Attractiveness Analysis By Region

11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Country

            11.2.1.1. The USA

            11.2.1.2. Canada

        11.2.2. By Offering

        11.2.3. By Deployment Model

        11.2.4. By Technology

        11.2.5. By End User

        11.2.6. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Offering

        11.3.3. By Deployment Model

        11.3.4. By Technology

        11.3.5. By End User

        11.3.6. By Application

    11.4. Key Takeaways

12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Country

            12.2.1.1. Brazil

            12.2.1.2. Mexico

            12.2.1.3. Rest of Latin America

        12.2.2. By Offering

        12.2.3. By Deployment Model

        12.2.4. By Technology

        12.2.5. By End User

        12.2.6. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Offering

        12.3.3. By Deployment Model

        12.3.4. By Technology

        12.3.5. By End User

        12.3.6. By Application

    12.4. Key Takeaways

13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        13.2.1. By Country

            13.2.1.1. Germany

            13.2.1.2. United Kingdom

            13.2.1.3. France

            13.2.1.4. Spain

            13.2.1.5. Italy

            13.2.1.6. Rest of Europe

        13.2.2. By Offering

        13.2.3. By Deployment Model

        13.2.4. By Technology

        13.2.5. By End User

        13.2.6. By Application

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Offering

        13.3.3. By Deployment Model

        13.3.4. By Technology

        13.3.5. By End User

        13.3.6. By Application

    13.4. Key Takeaways

14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        14.2.1. By Country

            14.2.1.1. India

            14.2.1.2. Malaysia

            14.2.1.3. Singapore

            14.2.1.4. Thailand

            14.2.1.5. Rest of South Asia

        14.2.2. By Offering

        14.2.3. By Deployment Model

        14.2.4. By Technology

        14.2.5. By End User

        14.2.6. By Application

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Offering

        14.3.3. By Deployment Model

        14.3.4. By Technology

        14.3.5. By End User

        14.3.6. By Application

    14.4. Key Takeaways

15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        15.2.1. By Country

            15.2.1.1. China

            15.2.1.2. Japan

            15.2.1.3. South Korea

        15.2.2. By Offering

        15.2.3. By Deployment Model

        15.2.4. By Technology

        15.2.5. By End User

        15.2.6. By Application

    15.3. Market Attractiveness Analysis

        15.3.1. By Country

        15.3.2. By Offering

        15.3.3. By Deployment Model

        15.3.4. By Technology

        15.3.5. By End User

        15.3.6. By Application

    15.4. Key Takeaways

16. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    16.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    16.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        16.2.1. By Country

            16.2.1.1. Australia

            16.2.1.2. New Zealand

        16.2.2. By Offering

        16.2.3. By Deployment Model

        16.2.4. By Technology

        16.2.5. By End User

        16.2.6. By Application

    16.3. Market Attractiveness Analysis

        16.3.1. By Country

        16.3.2. By Offering

        16.3.3. By Deployment Model

        16.3.4. By Technology

        16.3.5. By End User

        16.3.6. By Application

    16.4. Key Takeaways

17. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country

    17.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022

    17.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033

        17.2.1. By Country

            17.2.1.1. GCC Countries

            17.2.1.2. South Africa

            17.2.1.3. Israel

            17.2.1.4. Rest of MEA

        17.2.2. By Offering

        17.2.3. By Deployment Model

        17.2.4. By Technology

        17.2.5. By End User

        17.2.6. By Application

    17.3. Market Attractiveness Analysis

        17.3.1. By Country

        17.3.2. By Offering

        17.3.3. By Deployment Model

        17.3.4. By Technology

        17.3.5. By End User

        17.3.6. By Application

    17.4. Key Takeaways

18. Key Countries Market Analysis

    18.1. USA

        18.1.1. Pricing Analysis

        18.1.2. Market Share Analysis, 2022

            18.1.2.1. By Offering

            18.1.2.2. By Deployment Model

            18.1.2.3. By Technology

            18.1.2.4. By End User

            18.1.2.5. By Application

    18.2. Canada

        18.2.1. Pricing Analysis

        18.2.2. Market Share Analysis, 2022

            18.2.2.1. By Offering

            18.2.2.2. By Deployment Model

            18.2.2.3. By Technology

            18.2.2.4. By End User

            18.2.2.5. By Application

    18.3. Brazil

        18.3.1. Pricing Analysis

        18.3.2. Market Share Analysis, 2022

            18.3.2.1. By Offering

            18.3.2.2. By Deployment Model

            18.3.2.3. By Technology

            18.3.2.4. By End User

            18.3.2.5. By Application

    18.4. Mexico

        18.4.1. Pricing Analysis

        18.4.2. Market Share Analysis, 2022

            18.4.2.1. By Offering

            18.4.2.2. By Deployment Model

            18.4.2.3. By Technology

            18.4.2.4. By End User

            18.4.2.5. By Application

    18.5. Germany

        18.5.1. Pricing Analysis

        18.5.2. Market Share Analysis, 2022

            18.5.2.1. By Offering

            18.5.2.2. By Deployment Model

            18.5.2.3. By Technology

            18.5.2.4. By End User

            18.5.2.5. By Application

    18.6. United Kingdom

        18.6.1. Pricing Analysis

        18.6.2. Market Share Analysis, 2022

            18.6.2.1. By Offering

            18.6.2.2. By Deployment Model

            18.6.2.3. By Technology

            18.6.2.4. By End User

            18.6.2.5. By Application

    18.7. France

        18.7.1. Pricing Analysis

        18.7.2. Market Share Analysis, 2022

            18.7.2.1. By Offering

            18.7.2.2. By Deployment Model

            18.7.2.3. By Technology

            18.7.2.4. By End User

            18.7.2.5. By Application

    18.8. Spain

        18.8.1. Pricing Analysis

        18.8.2. Market Share Analysis, 2022

            18.8.2.1. By Offering

            18.8.2.2. By Deployment Model

            18.8.2.3. By Technology

            18.8.2.4. By End User

            18.8.2.5. By Application

    18.9. Italy

        18.9.1. Pricing Analysis

        18.9.2. Market Share Analysis, 2022

            18.9.2.1. By Offering

            18.9.2.2. By Deployment Model

            18.9.2.3. By Technology

            18.9.2.4. By End User

            18.9.2.5. By Application

    18.10. India

        18.10.1. Pricing Analysis

        18.10.2. Market Share Analysis, 2022

            18.10.2.1. By Offering

            18.10.2.2. By Deployment Model

            18.10.2.3. By Technology

            18.10.2.4. By End User

            18.10.2.5. By Application

    18.11. Malaysia

        18.11.1. Pricing Analysis

        18.11.2. Market Share Analysis, 2022

            18.11.2.1. By Offering

            18.11.2.2. By Deployment Model

            18.11.2.3. By Technology

            18.11.2.4. By End User

            18.11.2.5. By Application

    18.12. Singapore

        18.12.1. Pricing Analysis

        18.12.2. Market Share Analysis, 2022

            18.12.2.1. By Offering

            18.12.2.2. By Deployment Model

            18.12.2.3. By Technology

            18.12.2.4. By End User

            18.12.2.5. By Application

    18.13. Thailand

        18.13.1. Pricing Analysis

        18.13.2. Market Share Analysis, 2022

            18.13.2.1. By Offering

            18.13.2.2. By Deployment Model

            18.13.2.3. By Technology

            18.13.2.4. By End User

            18.13.2.5. By Application

    18.14. China

        18.14.1. Pricing Analysis

        18.14.2. Market Share Analysis, 2022

            18.14.2.1. By Offering

            18.14.2.2. By Deployment Model

            18.14.2.3. By Technology

            18.14.2.4. By End User

            18.14.2.5. By Application

    18.15. Japan

        18.15.1. Pricing Analysis

        18.15.2. Market Share Analysis, 2022

            18.15.2.1. By Offering

            18.15.2.2. By Deployment Model

            18.15.2.3. By Technology

            18.15.2.4. By End User

            18.15.2.5. By Application

    18.16. South Korea

        18.16.1. Pricing Analysis

        18.16.2. Market Share Analysis, 2022

            18.16.2.1. By Offering

            18.16.2.2. By Deployment Model

            18.16.2.3. By Technology

            18.16.2.4. By End User

            18.16.2.5. By Application

    18.17. Australia

        18.17.1. Pricing Analysis

        18.17.2. Market Share Analysis, 2022

            18.17.2.1. By Offering

            18.17.2.2. By Deployment Model

            18.17.2.3. By Technology

            18.17.2.4. By End User

            18.17.2.5. By Application

    18.18. New Zealand

        18.18.1. Pricing Analysis

        18.18.2. Market Share Analysis, 2022

            18.18.2.1. By Offering

            18.18.2.2. By Deployment Model

            18.18.2.3. By Technology

            18.18.2.4. By End User

            18.18.2.5. By Application

    18.19. GCC Countries

        18.19.1. Pricing Analysis

        18.19.2. Market Share Analysis, 2022

            18.19.2.1. By Offering

            18.19.2.2. By Deployment Model

            18.19.2.3. By Technology

            18.19.2.4. By End User

            18.19.2.5. By Application

    18.20. South Africa

        18.20.1. Pricing Analysis

        18.20.2. Market Share Analysis, 2022

            18.20.2.1. By Offering

            18.20.2.2. By Deployment Model

            18.20.2.3. By Technology

            18.20.2.4. By End User

            18.20.2.5. By Application

    18.21. Israel

        18.21.1. Pricing Analysis

        18.21.2. Market Share Analysis, 2022

            18.21.2.1. By Offering

            18.21.2.2. By Deployment Model

            18.21.2.3. By Technology

            18.21.2.4. By End User

            18.21.2.5. By Application

19. Market Structure Analysis

    19.1. Competition Dashboard

    19.2. Competition Benchmarking

    19.3. Market Share Analysis of Top Players

        19.3.1. By Regional

        19.3.2. By Offering

        19.3.3. By Deployment Model

        19.3.4. By Technology

        19.3.5. By End User

        19.3.6. By Application

20. Competition Analysis

    20.1. Competition Deep Dive

        20.1.1. Damco Group

            20.1.1.1. Overview

            20.1.1.2. Product Portfolio

            20.1.1.3. Profitability by Market Segments

            20.1.1.4. Sales Footprint

            20.1.1.5. Strategy Overview

                20.1.1.5.1. Marketing Strategy

        20.1.2. DXC Technology Company

            20.1.2.1. Overview

            20.1.2.2. Product Portfolio

            20.1.2.3. Profitability by Market Segments

            20.1.2.4. Sales Footprint

            20.1.2.5. Strategy Overview

                20.1.2.5.1. Marketing Strategy

        20.1.3. Majesco

            20.1.3.1. Overview

            20.1.3.2. Product Portfolio

            20.1.3.3. Profitability by Market Segments

            20.1.3.4. Sales Footprint

            20.1.3.5. Strategy Overview

                20.1.3.5.1. Marketing Strategy

        20.1.4. Oscar Insurance

            20.1.4.1. Overview

            20.1.4.2. Product Portfolio

            20.1.4.3. Profitability by Market Segments

            20.1.4.4. Sales Footprint

            20.1.4.5. Strategy Overview

                20.1.4.5.1. Marketing Strategy

        20.1.5. OutSystems

            20.1.5.1. Overview

            20.1.5.2. Product Portfolio

            20.1.5.3. Profitability by Market Segments

            20.1.5.4. Sales Footprint

            20.1.5.5. Strategy Overview

                20.1.5.5.1. Marketing Strategy

        20.1.6. Quantemplate

            20.1.6.1. Overview

            20.1.6.2. Product Portfolio

            20.1.6.3. Profitability by Market Segments

            20.1.6.4. Sales Footprint

            20.1.6.5. Strategy Overview

                20.1.6.5.1. Marketing Strategy

        20.1.7. Shift Technology

            20.1.7.1. Overview

            20.1.7.2. Product Portfolio

            20.1.7.3. Profitability by Market Segments

            20.1.7.4. Sales Footprint

            20.1.7.5. Strategy Overview

                20.1.7.5.1. Marketing Strategy

        20.1.8. Trov Insurance Solutions, LLC

            20.1.8.1. Overview

            20.1.8.2. Product Portfolio

            20.1.8.3. Profitability by Market Segments

            20.1.8.4. Sales Footprint

            20.1.8.5. Strategy Overview

                20.1.8.5.1. Marketing Strategy

        20.1.9. Wipro Limited

            20.1.9.1. Overview

            20.1.9.2. Product Portfolio

            20.1.9.3. Profitability by Market Segments

            20.1.9.4. Sales Footprint

            20.1.9.5. Strategy Overview

                20.1.9.5.1. Marketing Strategy

        20.1.10. Zhongan Insurance

            20.1.10.1. Overview

            20.1.10.2. Product Portfolio

            20.1.10.3. Profitability by Market Segments

            20.1.10.4. Sales Footprint

            20.1.10.5. Strategy Overview

                20.1.10.5.1. Marketing Strategy

21. Assumptions & Acronyms Used

22. Research Methodology
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