How big is the Insurance Analytics Market?

The Insurance Analytics Market size is expected to reach USD 11.47 billion in 2024 and grow at a CAGR of 15.90% to reach USD 27.07 billion by 2029. Read More

What is the current Insurance Analytics Market size?

In 2024, the Insurance Analytics Market size is expected to reach USD 11.47 billion. Read More

Who are the key players in Insurance Analytics Market?

IBM Corporation, LexisNexis Risk Solutions, Hexaware Technologies Limited, Guidewire Software Inc. and Applied Systems Inc. are the major companies operating in the Insurance Analytics Market. Read More

Which is the fastest growing region in Insurance Analytics Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Insurance Analytics Market?

In 2024, the North America accounts for the largest market share in Insurance Analytics Market. Read More

What years does this Insurance Analytics Market cover, and what was the market size in 2023?

In 2023, the Insurance Analytics Market size was estimated at USD 9.65 billion. The report covers the Insurance Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Insurance Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Insurance Analytics Market - Trends, Analysis & Growth

Insurance Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Insurance Analytics Companies and the Market is Segmented by Component (Tools and Services), Business Applications (Claims Management, Risk Management, Process Optimization, Customer Management, and Personalization), Deployment Mode (On-Premises and Cloud), End-User (Insurance Companies, Government Agencies, and Third-Party Administrators, Brokers, and Consultancies), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

Insurance Analytics Industry Overview

Insurance Companies can use data analytics to learn more about client behavior and deliver customized solutions per user needs. These Analytics providers sign contracts with various companies to help them with Information Technology Software and services. As businesses shift to digital technologies, they have a wider scope of expansion. The insurance analytics market needs to be more cohesive. Players tend to invest in innovating their product offerings to cater to the insurance industry's changing demands.

August 2023 - IBM and FGH Parent, L.P. (with its subsidiaries, “Fortitude Re”) announced business has entered into a USD 450 million deal to change Fortitude Re’s life insurance policy servicing operations with the implementation of AI technology and other automation tools developed to deliver a best-in-class customer experience for policyholders and insurers.
February 2023 - LexisNexis Risk Solutions has launched LexisNexis Total Property Understanding, a new comprehensive property intelligence solution to help enable U.S. home insurance underwriters to narrow in on properties needing additional evaluation based on risk, capture complete interior, exterior, and aerial data from those properties through a consumer self-guided survey tool, and access AI-enabled insights to fast-track decision making.