Digital Insurance Market 2024-2028
The digital insurance market is forecasted to grow by USD 67226.8 mn during 2023-2028, accelerating at a CAGR of 12.8% during the forecast period. The report on the digital insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increase in number of insurance policies, increased adoption of micro-insurance among low-income individuals and small businesses, and rise in demand for improved client experience.
Technavio's digital insurance market is segmented as below:
- By Distribution Channel
- Direct sales
- Brokers/agents
- Affiliated partners
- By End-user
- Individuals
- Businesses
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the emergence of LCNC development in digital insurance sector as one of the prime reasons driving the digital insurance market growth during the next few years. Also, increase in strategic partnerships and alliances in digital insurance sector and rise in adoption of iot and telematics in digital insurance sector will lead to sizable demand in the market.
The report on the digital insurance market covers the following areas:
- Digital insurance market sizing
- Digital insurance market forecast
- Digital insurance market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading digital insurance market vendors that include ACKO General Insurance Ltd, Allianz SE, AXA Group, DeadHappy Ltd., Ethos Technologies Inc, Getsafe Digital GmbH, Go Digit General Insurance Ltd., Haven Life Insurance Agency LLC, Hippo Enterprises Inc, ICICI Prudential Life Insurance Co. Ltd, Insured Nomads Corp, Kin Insurance Technology Hub LLC, Ladder Insurance Services, LLC, Lemonade Inc., Life Insurance Corp. of India, New York Life Insurance Co, NEXT Insurance, OPES insurance, Oscar Insurance Corp., RELX Plc, Root inc, Sure inc, The Allstate Corp., Turtlemint Insurance Broking Services Pvt Ltd, Vitality Health Limited, wefox Insurance AG, Westland Insurance, Willis Towers Watson Public Ltd. Co., and Yu Life ltd. Also, the digital insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.