Digital Insurance Platform Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Digital Insurance Platform Market is expected to register a CAGR of over 12.5% during the forecast period (2021-2026). The global insurance industry has been witnessing a significant shift towards the adoption of digital technologies. With COVID-19 impacting every facet of personal life and business, digitization has become a new source for the world to adjust to the new normal. This is especially apparent in insurance, where insurers can tap on digital channels for distribution and create awareness.
Key HighlightsThe digital insurance platform market comprises several global and regional players, vying for attention in a fairly-contested market space. Although the market studied poses moderately high entry barriers for new players, several new entrants have been able to gain traction in the market. The market is also witnessing increased competition among the players. The players focus on engaging themselves in several partnerships, mergers, acquisitions, and product innovations to gain a competitive advantage.
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