Global Digital Insurance Platform Market - Ashland, KY

Wednesday, 26 February 2020
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City: Ashland, Kentucky
Offer type: Offer
Price: $4,100


Contact name pallavi
Phone 09607365656

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Global Digital Insurance Platform Market was valued US$ 89.06 Bn in 2018 and is estimated to reach US$ XX Bn by 2026 at a CAGR of XX %.

Global digital insurance platform market is segmented into the component, deployment type, organization size, application, and region. In terms of component, the digital insurance platform market is classified into tools and services. Based on deployment type, the digital insurance platform market is categorized into cloud and on-premises.

On the basis of organization size, the digital insurance platform market is segregated into large enterprise and SMEs. On the basis of application, the digital insurance platform market is classified into automotive and transportation, healthcare & life science, construction, consumer electronics, enterprise, industrial machines, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The digital insurance platform enables stakeholders of the insurance industry to join through alone centralized framework for resolving multiple issues in the emerging high-value ecosystems. The platform acts as a support system for insurers to change from the traditional business developments toward the digital mode of connection, making the insurance ecosystem more customer-centric. It usually helps insurers in upgrading their operations with a built-in end on functionalities.

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Gen Z is gradually intensifying the shift of various industries towards digital transformation. This is one of the main factors to have helped fuel the rise of the Digital Insurance Platform Market. The life insurance market has long being serviced primarily by only the independent agents offering manifold lines, lagging basic training and inexperienced as well making it another major driver for the growth of the market. However, it is the security related to the digitization that is posing as a major restraint for the market growth.

The automotive and transportation segment has been a major market for digital insurance platforms in terms of application areas. Technologies like artificial intelligence and telematics have help insurance companies to streamline the business operations along with deploying newer channels of insurance distribution. The digital insurance platform allows customers to search anywhere online for quotation, compare insurance policies, and get a suitable coverage in no time. The rise in the number of accidents has been another crucial factor to boost the digital insurance platform in automotive and transportation application segment.
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