India Digital Insurance Platform Market is
expected to reach USD 165.02 Billion by 2024 at a CAGR of over 13% during
2019-2024. The major factors contributing to the growth of the market are increasingly
adoption of newer technologies such as Artificial Intelligence to modernize the
business operations, growing adoption of Internet of Things products and
growing awareness among underwriters about the channel digitalization. Digital
insurance platform allows customers to explore and compare insurance policies
and helps in getting the best policy in no time. Based on services type, the
market has been categorised into managed and professional services. In 2018,
the managed services dominated the market since the managed service providers takes
care of the entire digital insurance platform whereas the companies can focus
on their core business and the segment is anticipated to maintain its dominance
over the next five years as well. Based on organization size, the market has
been categorised into small & medium enterprises and large enterprises. In
2017, the large enterprise segment dominated the market owing to affordability
and high economies of scale. Moreover, in large enterprises, massive among of data
is created every year that requires to be well managed to fulfil the government
regulations. Additionally, the need of a strong omnichannel distribution
channel and the preparation of fast and far reaching services to clients are
driving the digital insurance platform market.
Years considered
for this report:
Historical
Year : 2014 - 2017
Base Year :
2018
Estimated :
2019
Forecast :
2020 - 2024
Objective of the Study:
- To define, classify and forecast the India Digital Insurance
Platform market based on component, services, end-user, insurance
application, deployment, organization size, region and company.
- To analyse and forecast the India Digital Insurance Platform market
size.
- To scrutinize the detailed market segmentation and forecast the
market size, in terms of value, based on end use sectors and regions,
namely, North, South, East and West.
- To identify the supporting factors and challenges for the India Digital
Insurance Platform market.
- To strategically profile leading players operating in the India Digital
Insurance Platform market.
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Some of the leading players in the India
Digital Insurance Platform Market are IBM,
Infosys, EIS Group, Microsoft, Oracle, Accenture, Mindtree, SAP, Cognizant, TCS
etc.
To perform the study, TechSci Research conducted
primary as well as exhaustive secondary research. Initially, TechSci Research
prepared an exhaustive list of Digital Insurance Platform companies and service
providers operating in India. Subsequently, TechSci Research conducted primary
research surveys, which include primary calls, email responses, etc., with the
identified companies. While interviewing, the respondents were also asked about
their major competitors. TechSci Research analysed product offerings, services and
regional presence of all major Digital Insurance Platform companies across India.
TechSci Research calculated the market size for India Digital
Insurance Platform market using a bottom-up technique, wherein sales value data
of different accounting companies was recorded as well as forecast for the
future years. TechSci Research sourced these values from industry experts and
company representatives, and externally validated through analysing historical
sales data of Digital Insurance Platform companies to arrive at the overall
market size.
Key Target
Audience:
- Digital Insurance Platform Companies
- IT companies
- System integrators
- End users of Digital Insurance
Platform such as Third-Party Administrators and Brokers, Insurance
Companies and Aggregators etc.
- Research & development
organizations and consulting firms
- Associations, organizations,
forums and alliances related to payment ecosystem and payment security
- Government bodies such as
regulating authorities and policy makers
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders, end users, etc.,
besides allowing them in strategizing investments and capitalizing on market
opportunities.
Report Scope:
In this report, India Digital Insurance Platform Market has
been segmented into following categories, in addition to the industry trends
which have also been detailed below:
- Market, By Component:
- Market, By Services:
- Market, By End User:
- Third-Party Administrators and
Brokers
- Insurance Companies
- Aggregators
- Market, By Insurance Application:
- Home and Commercial Buildings
- Life and Health
- Business and Enterprise
- Automotive and Transportation
- Travel
- Consumer Electronics and Industrial
Machines
- Market, By Deployment Type:
- Market, By Organization Size:
- Small & Medium-Sized
Enterprises
- Large Enterprises
- Market, by Region:
- North
Region
- South
Region
- West
Region
- East Region
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in Digital Insurance Platform Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according the company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
In case you don’t find what
you are looking for, please get in touch with our custom research team at [email protected]