Insurance Analytics Market

1. Insurance Analytics Market - Introduction  Insurance analytics market is a software platform that allows insurance companies to collect, analyze, and identify important insights from huge insurance databases to handle business risk and improve business in different insurance sectors.  Insurance companies are adopting digital technologies and insurance analytics to improve the generation of leads, reduce fraudulent cases, improve customer satisfaction, prediction, and manage risk factors for improving business processes.  Fraudulent cases regarding claim processing is one of the biggest challenges to the insurance industry. By using data analysis tools, an insurance company can identify the trend repeated for the claims process that helps to reduce fraudulent cases.  Insurance companies are investing in analytics technologies to understand customer behavior, market patterns, and improve the business decision process. Insurance analytics allows companies to use advanced technologies such as Big Data and artificial intelligence (AI) which helps to enhance insurance-related services and competitive market strategies by analyzing huge data.  Insurance analytics is majorly adopted by companies and brokers to efficiently track insurance payments, liquidity, and other financial operations, and monitor various operational expenses related to marketing, sales, customer support, and operations. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=82255 Key Drivers of the Insurance Analytics Market  Increasing demand for data analysis and predictive modelling solutions among insurance companies to improve business processes in various insurance operations is expected to drive the growth of the market. Increasing awareness about insurance analytics and digitalization among insurance companies and agencies to improve insurance services is also expected to boost the growth of the market.  Increasing adoption of insurance analytics with advanced technologies such as predictive analysis and Big Data is expected to generate revenue opportunities for solution providers during the forecast period. Lack of skilled professionals and increasing security threat (cyber-attacks) expected to hinder the growth of the insurance analytics market  Increasing adoption of advanced data technologies in insurance sectors also creates multiple ways for cyber-attacks on a company’s confidential information related to banking, payment transactions, and policy details, which may restrain the growth of the market.  Lack of skilled professionals among insurance companies and agencies to manage the different databases by using analytics solutions and business operations based on various technology platforms is also expected to hamper the growth of the market. Impact of COVID-19 on the Global Insurance Analytics Market  Insurance companies are expanding their geographical presence to capture more market share in Asia Pacific and Middle East & Africa due to the increasing impact of COVID-19 on

2. business growth. Insurance companies and leading agencies are adopting new business strategies in claim processing and analyzing insurance records for services which creates revenue opportunities during lockdown conditions.  Demand for insurance analytics is increasing during COVID-19 and is also set to increase during the forecast period due to increasing awareness about the benefits of insurance analytics among insurance companies with the increasing impact of COVID-19. Key Players Operating in the Global Insurance Analytics Market  Oracle Corporation Oracle Corporation is a U.S.-based information technology company. The company provides applications, platforms, and IT infrastructure products and services. It has three business segments: Cloud and Licensing, Hardware, and Services. The company offers Oracle Insurance Analytics solutions for insurance and healthcare sectors.  Salesforce.com, Inc. Salesforce.com, Inc. is a global provider of customer relationship management services to different industries. The company provides a technological platform for businesses to build and run business applications. Salesforce.com, Inc. offers a solution that helps users to manage their customer records, sales, and other enterprise operational data. Other key players operating in the global insurance analytics market include IBM Corporation, Microsoft Corporation, OpenText Corporation, Vertafore, Inc., MicroStrategy Incorporated, Hexaware Technologies Limited, and Pegasystems Inc. Global Insurance Analytics Market: Research Scope Global Insurance Analytics Market, by Component  Software/Tools  Services oProfessional oManaged Global Insurance Analytics Market, by Deployment  Cloud Based  On-premises Global Insurance Analytics Market, by Application  Claims Management  Customer Management and Personalization  Risk Management  Process Optimization  Others

3. Global Insurance Analytics Market, by End-user  Insurance Companies  Government Agencies  Agencies/Brokers Alternative Keywords  Insurance Technology Solutions  Insurance Big Data Analytics Purchase our Premium Research Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=82255&ltype=S This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions. Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:  Customer Experience Maps  Insights and Tools based on data-driven research  Actionable Results to meet all the business priorities  Strategic Frameworks to boost the growth journey About Us TMR has a track record to provide ace market research solutions that has earned us the trust of our clients for their business intelligence needs. Serving 13 industry verticals with a database of over 1,000 reports and 1 million + data points, our expanse to provide market research solutions is exceptional. We deep dive for a thorough understanding of the subject, gather precise information, and then analyze it to present solutions that are par excellence. Contact: 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com