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保険アナリティクス市場レポート：コンポーネント別、展開モード別、企業規模別、用途別、エンドユーザー別、地域別、2024-2032

Insurance Analytics Market Report by Component, Deployment Mode, Enterprise Size, Application, End User, and Region 2024-2032
出版日: | 発行: IMARC | ページ情報: 英文 149 Pages | 納期: 2～3営業日

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価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=155.86円
保険アナリティクス市場レポート：コンポーネント別、展開モード別、企業規模別、用途別、エンドユーザー別、地域別、2024-2032
出版日: 2024年03月02日
発行: IMARC
ページ情報: 英文 149 Pages
納期: 2～3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界の保険アナリティクス市場規模は2023年に126億米ドルに達しました。今後、IMARC Groupは、2024年から2032年にかけて9.7%の成長率（CAGR）を示し、2032年までに297億米ドルに達すると予測しています。規制遵守の必要性の高まり、保険分野における消費者保護、財務安定性、データの完全性を確保するための新たな規制の導入、自動化に対する需要の高まりなどが、市場成長を促す主な要因となっています。

保険アナリティクスとは、保険業界において十分な情報に基づいた意思決定を行うために、データ分析ツールや統計モデルを利用することを指します。このアプローチにより、保険会社は顧客行動、リスク評価、保険金支払い管理など、事業のさまざまな側面について貴重な洞察を得ることができます。大量のデータを分析することで、保険会社は従来の方法では明らかにならなかったパターンや動向を特定することができます。これにより、保険会社はよりパーソナライズされたサービスを提供し、正確な保険料を設定し、迅速かつ信頼性の高い保険金請求を行うことができます。最終的な目標は、効率性の向上、コスト削減、顧客満足度の向上です。競争の激しい市場において、保険アナリティクスは、企業がデータ主導で意思決定を行えるようにすることで、極めて重要な優位性を提供します。

規制遵守の必要性の高まりが、世界市場を大きく牽引しています。政府機関や国際機関は、保険分野における消費者保護、財務の安定性、データの完全性を確保するため、継続的に新たな規制を改定・導入しています。このため保険会社は、リスクを管理しコンプライアンスを効率的に確保するために、高度なアナリティクス・ソリューションを導入する必要に迫られています。このことは、市場にプラスの影響を与えています。これとともに、さまざまな情報源から生成されるデータ量の急激な増加が、保険アナリティクス市場を牽引する重要な要因となっています。この動向は、大規模なデータセットを効率的に処理・分析できるアナリティクス・ツールに対する大きな需要を生み出しています。さらに、マーケティングキャンペーンや顧客維持率の向上、さらには市場シフトの予測に保険アナリティクスが広く採用されていることも、市場を大きく支えています。さらに、保険業界における自動化需要の高まりが、高度なアナリティクス・ソリューションのニーズを後押ししています。

保険アナリティクス市場の動向と促進要因：

データ主導の意思決定の重要性の高まり

ビジネス戦略におけるデータの重要性の高まりは、保険アナリティクスの重要な市場促進要因となっています。データ主導の洞察に基づいて意思決定を行う保険会社は、従来の手法だけに頼っている保険会社よりも重要な優位性を獲得しています。アナリティクスにより、保険会社は膨大な量のデータを解析し、顧客の行動、嗜好、リスクプロファイルをより深く理解することができます。これにより、よりパーソナライズされた保険、正確な保険料率、迅速な保険金請求処理が可能になります。高度なアナリティクス・アルゴリズムは将来の動向を予測することができるため、保険会社は今後の課題に対応するため、あるいは新たなビジネスチャンスを活かすために、積極的に戦略を適応させることができます。詐欺の可能性を特定するにも、どの保険契約が最も収益性が高いかを判断するにも、データ分析は十分な情報に基づいた意思決定に必要な実用的な洞察を提供します。データ主導の価値を認識する企業が増えるにつれ、保険アナリティクス・ソリューションへの需要が業界をさらに牽引しています。

技術の進歩とイノベーション

技術的進歩の高まりも、保険アナリティクス市場を促進するもう1つの主な要因です。人工知能（AI）、機械学習、ビッグデータなどの革新は、保険業界におけるアナリティクスの適用方法に革命をもたらしました。例えば、AIアルゴリズムは従来の方法よりもはるかに迅速かつ正確にリスクを評価したり、不正行為を検出したりすることができます。機械学習モデルは新しいデータに自動的に適応できるため、消費者行動や市場動向の予測に高い効果を発揮します。これとは別に、クラウド・コンピューティングはアナリティクスをより身近なものにし、小規模な保険会社でも大規模なITインフラを必要とせずに高度なアナリティクス・ツールを活用できるようにしました。さらに、これらのテクノロジーを統合することで、アナリティクスの質が向上し、拡張性と費用対効果が高まります。テクノロジーが進歩を続ける中、保険会社はこの分野の成長に貢献しています。

パーソナライズされたサービスへの消費者の期待

今日の消費者は、独自のニーズや嗜好に合わせたサービスを期待しています。この動向により、保険業界は画一的なアプローチからより個別化されたモデルへの進化を余儀なくされています。保険アナリティクスは、この変革において極めて重要な役割を果たしています。ソーシャルメディアや購買履歴、さらにはウェアラブル端末など、さまざまなソースからのデータを活用することで、保険会社は顧客を360度見渡すことができます。こうしたきめ細かな洞察により、保険会社は高度にパーソナライズされた保険やサービスを提供し、顧客満足度とロイヤルティを向上させることができます。例えば、アナリティクスによって、特定の層がどのような種類の保険を購入する可能性が高いか、あるいはライフスタイルの変化がリスク・プロファイルにどのような影響を与えるかを特定することができます。これにより、消費者は恩恵を受け、保険会社は商品提供やマーケティング戦略を最適化することができます。パーソナライズされたサービスに対する消費者の需要が高まり続ける中、保険会社は市場の成長をさらに促進しています。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査目的
  • 利害関係者
  • データソース
    • 一次情報
    • 二次情報
  • 市場推定
    • ボトムアップアプローチ
    • トップダウンアプローチ
  • 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

  • 概要
  • 主な業界動向

第5章 世界の保険アナリティクス市場

  • 市場概要
  • 市場実績
  • COVID-19の影響
  • 市場予測

第6章 市場内訳：コンポーネント別

  • ソリューション
    • 市場動向
    • 市場予測
  • サービス
    • 市場動向
    • 市場予測

第7章 市場内訳：展開モード別

  • オンプレミス
    • 市場動向
    • 市場予測
  • クラウドベース
    • 市場動向
    • 市場予測

第8章 市場内訳：企業規模別

  • 中小企業
    • 市場動向
    • 市場予測
  • 大企業
    • 市場動向
    • 市場予測

第9章 市場内訳：用途別

  • クレーム管理
    • 市場動向
    • 市場予測
  • リスク管理
    • 市場動向
    • 市場予測
  • 顧客管理
    • 市場動向
    • 市場予測
  • 営業・マーケティング
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測

第10章 市場内訳：エンドユーザー別

  • 保険会社
    • 市場動向
    • 市場予測
  • 政府機関
    • 市場動向
    • 市場予測
  • 第三者管理者、ブローカー、コンサルタント会社
    • 市場動向
    • 市場予測

第11章 市場内訳：地域別

  • 北米
    • 米国
      • 市場動向
      • 市場予測
    • カナダ
      • 市場動向
      • 市場予測
  • アジア太平洋
    • 中国
      • 市場動向
      • 市場予測
    • 日本
      • 市場動向
      • 市場予測
    • インド
      • 市場動向
      • 市場予測
    • 韓国
      • 市場動向
      • 市場予測
    • オーストラリア
      • 市場動向
      • 市場予測
    • インドネシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 欧州
    • ドイツ
      • 市場動向
      • 市場予測
    • フランス
      • 市場動向
      • 市場予測
    • 英国
      • 市場動向
      • 市場予測
    • イタリア
      • 市場動向
      • 市場予測
    • スペイン
      • 市場動向
      • 市場予測
    • ロシア
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • ラテンアメリカ
    • ブラジル
      • 市場動向
      • 市場予測
    • メキシコ
      • 市場動向
      • 市場予測
    • その他
      • 市場動向
      • 市場予測
  • 中東・アフリカ地域
    • 市場動向
    • 市場内訳：国別
    • 市場予測

第12章 SWOT分析

  • 概要
  • 強み
  • 弱み
  • 機会
  • 脅威

第13章 バリューチェーン分析

第14章 ポーターのファイブフォース分析

  • 概要
  • 買い手の交渉力
  • 供給企業の交渉力
  • 競合の程度
  • 新規参入業者の脅威
  • 代替品の脅威

第15章 価格分析

第16章 競合情勢

  • 市場構造
  • 主要企業
  • 主要企業のプロファイル
    • Applied Systems Inc.
    • Hexaware Technologies Limited
    • International Business Machines Corporation
    • LexisNexis Risk Solutions（RELX PLC）
    • Microsoft Corporation
    • MicroStrategy Incorporated
    • Open Text Corporation
    • Oracle Corporation
    • Pegasystems Inc.
    • Salesforce.com inc.
    • SAP SE
    • Sapiens International Corporation
図表

List of Figures

  • Figure 1: Global: Insurance Analytics Market: Major Drivers and Challenges
  • Figure 2: Global: Insurance Analytics Market: Sales Value (in Billion US$), 2018-2023
  • Figure 3: Global: Insurance Analytics Market Forecast: Sales Value (in Billion US$), 2024-2032
  • Figure 4: Global: Insurance Analytics Market: Breakup by Component (in %), 2023
  • Figure 5: Global: Insurance Analytics Market: Breakup by Deployment Mode (in %), 2023
  • Figure 6: Global: Insurance Analytics Market: Breakup by Enterprise Size (in %), 2023
  • Figure 7: Global: Insurance Analytics Market: Breakup by Application (in %), 2023
  • Figure 8: Global: Insurance Analytics Market: Breakup by End User (in %), 2023
  • Figure 9: Global: Insurance Analytics Market: Breakup by Region (in %), 2023
  • Figure 10: Global: Insurance Analytics (Solution) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Insurance Analytics (Solution) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Insurance Analytics (Service) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Insurance Analytics (Service) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Insurance Analytics (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Insurance Analytics (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Insurance Analytics (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Insurance Analytics (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Insurance Analytics (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Insurance Analytics (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Insurance Analytics (Large Enterprises) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Insurance Analytics (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Insurance Analytics (Claims Management) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Insurance Analytics (Claims Management) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: Global: Insurance Analytics (Risk Management) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: Global: Insurance Analytics (Risk Management) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: Global: Insurance Analytics (Customer Management) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: Global: Insurance Analytics (Customer Management) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: Global: Insurance Analytics (Sales and Marketing) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: Global: Insurance Analytics (Sales and Marketing) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Global: Insurance Analytics (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Global: Insurance Analytics (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: Global: Insurance Analytics (Insurance Companies) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: Global: Insurance Analytics (Insurance Companies) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: Global: Insurance Analytics (Government Agencies) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: Global: Insurance Analytics (Government Agencies) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: Global: Insurance Analytics (Third-party Administrators, Brokers and Consultancies) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: Global: Insurance Analytics (Third-party Administrators, Brokers and Consultancies) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: North America: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: North America: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: United States: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 41: United States: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 42: Canada: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 43: Canada: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 44: Asia-Pacific: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 45: Asia-Pacific: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 46: China: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 47: China: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 48: Japan: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 49: Japan: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 50: India: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 51: India: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 52: South Korea: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 53: South Korea: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 54: Australia: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 55: Australia: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 56: Indonesia: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 57: Indonesia: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 58: Others: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 59: Others: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 60: Europe: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 61: Europe: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 62: Germany: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 63: Germany: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 64: France: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 65: France: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 66: United Kingdom: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 67: United Kingdom: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 68: Italy: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 69: Italy: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 70: Spain: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 71: Spain: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 72: Russia: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 73: Russia: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 74: Others: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 75: Others: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 76: Latin America: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 77: Latin America: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 78: Brazil: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 79: Brazil: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 80: Mexico: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 81: Mexico: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 82: Others: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 83: Others: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 84: Middle East and Africa: Insurance Analytics Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 85: Middle East and Africa: Insurance Analytics Market: Breakup by Country (in %), 2023
  • Figure 86: Middle East and Africa: Insurance Analytics Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 87: Global: Insurance Analytics Industry: SWOT Analysis
  • Figure 88: Global: Insurance Analytics Industry: Value Chain Analysis
  • Figure 89: Global: Insurance Analytics Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Insurance Analytics Market: Key Industry Highlights, 2023 and 2032
  • Table 2: Global: Insurance Analytics Market Forecast: Breakup by Component (in Million US$), 2024-2032
  • Table 3: Global: Insurance Analytics Market Forecast: Breakup by Deployment Mode (in Million US$), 2024-2032
  • Table 4: Global: Insurance Analytics Market Forecast: Breakup by Enterprise Size (in Million US$), 2024-2032
  • Table 5: Global: Insurance Analytics Market Forecast: Breakup by Application (in Million US$), 2024-2032
  • Table 6: Global: Insurance Analytics Market Forecast: Breakup by End User (in Million US$), 2024-2032
  • Table 7: Global: Insurance Analytics Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 8: Global: Insurance Analytics Market: Competitive Structure
  • Table 9: Global: Insurance Analytics Market: Key Players
目次
Product Code: SR112024A4859

The global insurance analytics market size reached US$ 12.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.7 Billion by 2032, exhibiting a growth rate (CAGR) of 9.7% during 2024-2032. The growing need for regulatory compliance, the introduction of new regulations to ensure consumer protection, financial stability, and data integrity in the insurance sector and the growing demand for automation are among the key factors driving the market growth.

Insurance analytics refers to the practice of using data analysis tools and statistical models to make informed decisions in the insurance industry. This approach helps insurance companies gain valuable insights into various aspects of their business, including customer behavior, risk assessment, and claims management. By analyzing large sets of data, insurers can identify patterns and trends that may not be apparent through traditional methods. This enables them to offer more personalized services, set accurate premiums, and make quicker and more reliable claims decisions. The ultimate goal is to improve efficiency, reduce costs, and enhance customer satisfaction. In a competitive market, insurance analytics provides a crucial edge by empowering companies to make data-driven decisions.

The growing need for regulatory compliance majorly drives the global market. Government bodies and international organizations are continually revising and introducing new regulations to ensure consumer protection, financial stability, and data integrity in the insurance sector. This is compelling insurance companies to adopt advanced analytics solutions to manage risk and ensure compliance efficiently. Thus, this is positively influencing the market. Along with this, the exponential growth in the volume of data generated by various sources is a key factor driving the insurance analytics market. This trend is creating a significant demand for analytics tools capable of processing and analyzing large data sets efficiently. In addition, the widespread adoption of insurance analytics for marketing campaigns, improving customer retention, and even predicting market shifts is significantly supporting the market. Moreover, the growing demand for automation in the insurance industry is thus driving the need for advanced analytics solutions.

Insurance Analytics Market Trends/Drivers:

Growing importance of data-driven decision making

The increasing relevance of data in business strategy has become a significant market driver for insurance analytics. Insurance companies that make decisions based on data-driven insights gain a crucial edge over those relying solely on traditional methods. With analytics, insurers can crunch vast amounts of data to better understand customer behavior, preferences, and risk profiles. This enables them to offer more personalized policies, accurate premium rates, and quicker claims processing. Advanced analytics algorithms can predict future trends, allowing insurers to proactively adapt their strategies to meet upcoming challenges or capitalize on emerging opportunities. Whether it is identifying potential fraud schemes or determining which policies are most profitable, data analytics provides the actionable insights needed for making informed decisions. As more companies recognize the value of being data-driven, the demand for insurance analytics solutions is further driving the industry.

Technological advancements and innovations

The rise in technological advancements is another key driver fueling the insurance analytics market. Innovations, such as artificial intelligence (AI), machine learning, and big data have revolutionized the way analytics can be applied within the insurance industry. For instance, AI algorithms can assess risk or detect fraudulent activity much quicker and more accurately than traditional methods. Machine learning models can automatically adapt to new data, making them highly effective at predicting consumer behavior and market trends. Apart from this, cloud computing has also made analytics more accessible, enabling even smaller insurance companies to take advantage of sophisticated analytics tools without the need for extensive IT infrastructure. Moreover, the integration of these technologies improves the quality of analytics and makes it more scalable and cost-effective. As technology continues to advance, insurance companies are contributing to the sector's growth.

Consumer expectations for personalized services

Today's consumers expect services that are tailored to their unique needs and preferences. This trend is forcing the insurance industry to evolve from a one-size-fits-all approach to a more individualized model. Insurance analytics plays a pivotal role in this transformation. By leveraging data from various sources such as social media, purchase histories, and even wearable devices, insurance companies can gain a 360-degree view of their customers. Such granular insights allow insurers to offer highly personalized policies and services, improving customer satisfaction and loyalty. For example, analytics can identify what types of policies a particular demographic is most likely to purchase or how lifestyle changes affect risk profiles. This benefits consumers and enables insurance providers to optimize their product offerings and marketing strategies. As consumer demand for personalized services continues to rise, insurance companies are further driving market growth.

Insurance Analytics Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on component, deployment mode, enterprise size, application and end user.

Breakup by Component:

Solution

Service

Solution accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the component. This includes solution and service. According to the report, solution represented the largest segment.

The demand for various solution components in the insurance analytics industry is being driven by multiple factors that enhance operational efficiency and business intelligence. Components such as data warehousing, predictive modeling, and dashboarding tools are becoming increasingly vital. Along with this, regulatory compliance continues to be a significant driver, as these components help in generating automated reports and real-time monitoring to ensure adherence to legal norms. With the rise in data volume, effective data management and storage solutions are indispensable, driving the market for data warehousing components. Predictive modeling tools are gaining traction due to their ability to forecast market trends and customer behavior, enabling insurers to make data-driven strategic decisions. Moreover, dashboarding tools are becoming popular for their user-friendly interfaces that offer valuable insights at a glance, thereby aiding in quick decision-making. The growing focus on customer personalization and the urgent need for cybersecurity measures are also fueling the demand for specialized analytics solutions in the insurance industry.

Breakup by Deployment Mode:

On-premises

Cloud-based

Cloud-based holds the largest share in the industry

A detailed breakup and analysis of the market based on the deployment mode has also been provided in the report. This includes on-premises and cloud-based. According to the report, cloud-based accounted for the largest market share.

The adoption of cloud-based deployment modes in the insurance analytics industry is gaining momentum, driven by several key factors. Cloud-based solutions offer unparalleled scalability and flexibility, allowing insurance companies to easily adjust their analytics capabilities in line with fluctuating business needs. This is especially valuable for small to medium-sized enterprises (SMEs) that may not have the infrastructure for on-premises solutions but still want to harness the power of analytics. Cost-efficiency is another significant driver; cloud-based services often operate on a subscription model that eliminates the need for substantial upfront investment in hardware and software. Moreover, cloud solutions facilitate easier data integration from multiple sources and quicker implementation of updates or new features. As insurers increasingly recognize the importance of real-time data analysis for everything from compliance monitoring to customer engagement, the speed and accessibility offered by cloud-based deployment become critical. This shift towards more agile, cost-effective solutions is significantly driving the market for cloud-based insurance analytics.

Breakup by Enterprise Size:

Small and Medium-sized Enterprises

Large Enterprises

Large enterprises accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the enterprise size. This includes small and medium-sized enterprises, and large enterprises. According to the report, large enterprises represented the largest segment.

Large enterprises in the insurance sector are major contributors to the growing demand for advanced analytics solutions. One of the primary market drivers for this segment is the complexity and volume of data these organizations handle. Large insurance firms have diverse portfolios, multiple customer segments, and operate across different geographies, generating enormous amounts of structured and unstructured data. Analytics help them synthesize this data into actionable insights for strategic decision-making. Another driver is the growing need for real-time analytics to enhance customer experiences and streamline operations. Large enterprises often have the resources to invest in sophisticated analytics platforms that offer real-time insights, thus providing them with a competitive advantage. Furthermore, these companies face stringent regulatory compliance requirements that necessitate robust analytics capabilities for risk assessment and reporting. The economies of scale also allow large enterprises to invest in cutting-edge technologies, thereby driving innovation and growth in the insurance analytics market.

Breakup by Application:

Claims Management

Risk Management

Customer Management

Sales and Marketing

Others

Risk management holds the largest share in the industry

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes claims management, risk management, customer management, sales and marketing, and others. According to the report, risk management accounted for the largest market share.

Risk management stands as one of the most critical applications driving the insurance analytics market. With increasing complexities in the insurance landscape, characterized by volatile markets and evolving customer behaviors, accurate risk assessment has become indispensable for long-term sustainability. Analytics tools are pivotal in analyzing diverse data points to identify trends, anomalies, and potential risks that could impact an insurer's portfolio. Machine learning algorithms, for example, can process large datasets to predict the likelihood of events like claims or defaults, enabling proactive risk mitigation strategies. Moreover, in a regulatory environment that is becoming increasingly stringent, risk management analytics help in complying with capital adequacy and solvency norms by providing real-time insights into the risk profile of assets and liabilities. As insurers strive for more nuanced and predictive models for risk identification and assessment, the demand for analytics in risk management is expected to grow, further driving the market.

Breakup by End User:

Insurance Companies

Government Agencies

Third-party Administrators, Brokers and Consultancies

Insurance companies account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the end user. This includes insurance companies, government agencies, and third-party administrators, brokers, and consultancies. According to the report, insurance companies represented the largest segment.

Insurance companies themselves are a significant end-user segment driving the growth of the global industry. The dynamics of the insurance market are evolving rapidly due to technological advancements, regulatory changes, and shifting consumer behaviors. To remain competitive, insurance companies are increasingly relying on analytics to gain insights that inform strategic planning, product development, and customer engagement. Analytics enable insurers to build more accurate risk models, tailor products to specific customer segments, and optimize pricing strategies. The technology also plays a crucial role in claims management, fraud detection, and regulatory compliance, reducing costs and streamlining operations. Moreover, the advent of big data and machine learning offers opportunities for real-time analytics, enabling insurance companies to make faster and more informed decisions. These capabilities improve profitability and enhance customer satisfaction and loyalty, which are critical for business success in a competitive market.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance,, accounting for the largest insurance analytics market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

North America is a significant market for insurance analytics, driven by a combination of technological innovation, regulatory environment, and consumer expectations. The region is home to a mature insurance industry with companies that are early adopters of emerging technologies, such as artificial intelligence, big data, and machine learning. This technological edge stimulates the demand for analytics solutions designed to optimize various aspects of the insurance business. Regulatory compliance is another important driver; stringent laws and regulations around data governance and consumer protection necessitate advanced analytics for real-time monitoring and reporting.

Additionally, the consumer base in North America is increasingly digitally-savvy and expects personalized, efficient services. This encourages insurance companies to leverage analytics for customer segmentation, tailored product offerings, and targeted marketing strategies. The convergence of these factors makes North America a fertile ground for the growth and adoption of insurance analytics, significantly driving the market in this region.

Competitive Landscape:

The key players are continually upgrading their analytics platforms to incorporate the latest technologies such as artificial intelligence, machine learning, and big data processing capabilities. These updates offer more accurate and faster data analysis. Along with this, various firms are forming partnerships with insurance companies, technology providers, and even academic institutions to share expertise and resources. Such collaborations often result in the development of specialized analytics tools tailored to specific industry needs. With rising consumer expectations for personalized services, companies are focusing on developing analytics tools that can analyze customer behavior, preferences, and risk profiles to offer customized insurance products. In addition, regulatory compliance is a big challenge for the insurance industry. Analytics companies are developing features that can automatically monitor compliance metrics and generate reports, thereby reducing the risk of non-compliance for their clients. As data security is a primary concern, especially given the sensitive nature of information in insurance, companies are investing in robust security protocols to ensure data integrity and confidentiality.

The market research report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Applied Systems Inc.

Hexaware Technologies Limited

International Business Machines Corporation

LexisNexis Risk Solutions (RELX PLC)

Microsoft Corporation

MicroStrategy Incorporated

Open Text Corporation

Oracle Corporation

Pegasystems Inc.

Salesforce.com inc.

SAP SE

Sapiens International Corporation

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Recent Developments:

In August 2023, International Business Machines Corporation consented to pay an unknown sum to private equity company Francisco Partners in exchange for selling its weather business. The Weather Company's consumer-focused properties, such Weather.com and Storm Radar, as well as its business solutions for sectors like media and aviation, are included in the deal.

In May 2023, LexisNexis Risk Solutions (RELX PLC) announced the acquisition of Human API, a top supplier of a proprietary consumer-driven data platform.

In October 2022, Applied Systems Inc. introduced a digital payments solution in the North American market that works with its management systems for insurance companies, Applied Epic and EZLynx.

Key Questions Answered in This Report

  • 1. What was the size of the global insurance analytics market in 2023?
  • 2. What is the expected growth rate of the global insurance analytics market during 2024-2032?
  • 3. What are the key factors driving the global insurance analytics market?
  • 4. What has been the impact of COVID-19 on the global insurance analytics market?
  • 5. What is the breakup of the global insurance analytics market based on the component?
  • 6. What is the breakup of the global insurance analytics market based on the deployment mode?
  • 7. What is the breakup of the global insurance analytics market based on the enterprise size?
  • 8. What is the breakup of the global insurance analytics market based on the application?
  • 9. What is the breakup of the global insurance analytics market based on the end user?
  • 10. What are the key regions in the global insurance analytics market?
  • 11. Who are the key players/companies in the global insurance analytics market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Insurance Analytics Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Component

  • 6.1 Solution
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Service
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast

7 Market Breakup by Deployment Mode

  • 7.1 On-premises
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Cloud-based
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by Enterprise Size

  • 8.1 Small and Medium-sized Enterprises
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Large Enterprises
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Application

  • 9.1 Claims Management
    • 9.1.1 Market Trends
    • 9.1.2 Market Forecast
  • 9.2 Risk Management
    • 9.2.1 Market Trends
    • 9.2.2 Market Forecast
  • 9.3 Customer Management
    • 9.3.1 Market Trends
    • 9.3.2 Market Forecast
  • 9.4 Sales and Marketing
    • 9.4.1 Market Trends
    • 9.4.2 Market Forecast
  • 9.5 Others
    • 9.5.1 Market Trends
    • 9.5.2 Market Forecast

10 Market Breakup by End User

  • 10.1 Insurance Companies
    • 10.1.1 Market Trends
    • 10.1.2 Market Forecast
  • 10.2 Government Agencies
    • 10.2.1 Market Trends
    • 10.2.2 Market Forecast
  • 10.3 Third-party Administrators, Brokers and Consultancies
    • 10.3.1 Market Trends
    • 10.3.2 Market Forecast

11 Market Breakup by Region

  • 11.1 North America
    • 11.1.1 United States
      • 11.1.1.1 Market Trends
      • 11.1.1.2 Market Forecast
    • 11.1.2 Canada
      • 11.1.2.1 Market Trends
      • 11.1.2.2 Market Forecast
  • 11.2 Asia-Pacific
    • 11.2.1 China
      • 11.2.1.1 Market Trends
      • 11.2.1.2 Market Forecast
    • 11.2.2 Japan
      • 11.2.2.1 Market Trends
      • 11.2.2.2 Market Forecast
    • 11.2.3 India
      • 11.2.3.1 Market Trends
      • 11.2.3.2 Market Forecast
    • 11.2.4 South Korea
      • 11.2.4.1 Market Trends
      • 11.2.4.2 Market Forecast
    • 11.2.5 Australia
      • 11.2.5.1 Market Trends
      • 11.2.5.2 Market Forecast
    • 11.2.6 Indonesia
      • 11.2.6.1 Market Trends
      • 11.2.6.2 Market Forecast
    • 11.2.7 Others
      • 11.2.7.1 Market Trends
      • 11.2.7.2 Market Forecast
  • 11.3 Europe
    • 11.3.1 Germany
      • 11.3.1.1 Market Trends
      • 11.3.1.2 Market Forecast
    • 11.3.2 France
      • 11.3.2.1 Market Trends
      • 11.3.2.2 Market Forecast
    • 11.3.3 United Kingdom
      • 11.3.3.1 Market Trends
      • 11.3.3.2 Market Forecast
    • 11.3.4 Italy
      • 11.3.4.1 Market Trends
      • 11.3.4.2 Market Forecast
    • 11.3.5 Spain
      • 11.3.5.1 Market Trends
      • 11.3.5.2 Market Forecast
    • 11.3.6 Russia
      • 11.3.6.1 Market Trends
      • 11.3.6.2 Market Forecast
    • 11.3.7 Others
      • 11.3.7.1 Market Trends
      • 11.3.7.2 Market Forecast
  • 11.4 Latin America
    • 11.4.1 Brazil
      • 11.4.1.1 Market Trends
      • 11.4.1.2 Market Forecast
    • 11.4.2 Mexico
      • 11.4.2.1 Market Trends
      • 11.4.2.2 Market Forecast
    • 11.4.3 Others
      • 11.4.3.1 Market Trends
      • 11.4.3.2 Market Forecast
  • 11.5 Middle East and Africa
    • 11.5.1 Market Trends
    • 11.5.2 Market Breakup by Country
    • 11.5.3 Market Forecast

12 SWOT Analysis

  • 12.1 Overview
  • 12.2 Strengths
  • 12.3 Weaknesses
  • 12.4 Opportunities
  • 12.5 Threats

13 Value Chain Analysis

14 Porters Five Forces Analysis

  • 14.1 Overview
  • 14.2 Bargaining Power of Buyers
  • 14.3 Bargaining Power of Suppliers
  • 14.4 Degree of Competition
  • 14.5 Threat of New Entrants
  • 14.6 Threat of Substitutes

15 Price Analysis

16 Competitive Landscape

  • 16.1 Market Structure
  • 16.2 Key Players
  • 16.3 Profiles of Key Players
    • 16.3.1 Applied Systems Inc.
      • 16.3.1.1 Company Overview
      • 16.3.1.2 Product Portfolio
    • 16.3.2 Hexaware Technologies Limited
      • 16.3.2.1 Company Overview
      • 16.3.2.2 Product Portfolio
    • 16.3.3 International Business Machines Corporation
      • 16.3.3.1 Company Overview
      • 16.3.3.2 Product Portfolio
      • 16.3.3.3 Financials
      • 16.3.3.4 SWOT Analysis
    • 16.3.4 LexisNexis Risk Solutions (RELX PLC)
      • 16.3.4.1 Company Overview
      • 16.3.4.2 Product Portfolio
    • 16.3.5 Microsoft Corporation
      • 16.3.5.1 Company Overview
      • 16.3.5.2 Product Portfolio
      • 16.3.5.3 Financials
      • 16.3.5.4 SWOT Analysis
    • 16.3.6 MicroStrategy Incorporated
      • 16.3.6.1 Company Overview
      • 16.3.6.2 Product Portfolio
      • 16.3.6.3 Financials
      • 16.3.6.4 SWOT Analysis
    • 16.3.7 Open Text Corporation
      • 16.3.7.1 Company Overview
      • 16.3.7.2 Product Portfolio
      • 16.3.7.3 Financials
      • 16.3.7.4 SWOT Analysis
    • 16.3.8 Oracle Corporation
      • 16.3.8.1 Company Overview
      • 16.3.8.2 Product Portfolio
      • 16.3.8.3 Financials
      • 16.3.8.4 SWOT Analysis
    • 16.3.9 Pegasystems Inc.
      • 16.3.9.1 Company Overview
      • 16.3.9.2 Product Portfolio
      • 16.3.9.3 Financials
      • 16.3.9.4 SWOT Analysis
    • 16.3.10 Salesforce.com inc.
      • 16.3.10.1 Company Overview
      • 16.3.10.2 Product Portfolio
      • 16.3.10.3 Financials
      • 16.3.10.4 SWOT Analysis
    • 16.3.11 SAP SE
      • 16.3.11.1 Company Overview
      • 16.3.11.2 Product Portfolio
      • 16.3.11.3 Financials
      • 16.3.11.4 SWOT Analysis
    • 16.3.12 Sapiens International Corporation
      • 16.3.12.1 Company Overview
      • 16.3.12.2 Product Portfolio