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Insurance Analytics Market is expected to show significant growth by 2026

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Insurance Analytics Market is expected to show significant growth by 2026

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  1. Insurance Analytics Market – Global Industry Forecast & Analysis over 2020- 2026 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. Insurance Analytics Market Scenario: • On the basis of components, the insurance analytics market is segmented into solution & service. Service component is further segmented into consulting, system integration, and maintenance. Insurance analytics is helping consulting agencies in a comprehensive manner by providing crucial business insights. For instance, with the help of analytics, insurance agents can identify if there is a gap in coverage of one of the clients. Using that information, agents call the clients for cross-selling and upselling, leading to more sales. • On the basis of deployment model, the insurance analytics market is segmented into on-premise and cloud. On-premise model requires significant amount of investment on IT infrastructure, posing excessive strain on the financial resources of the organization. Cloud model is a subscription-based service, which enables organizations to utilize the power of data analytics while being cost-effective. • On the basis of organization size, insurance analytics is segmented into large enterprises and Small & Medium Enterprises (SMEs). SMEs are able to utilize & incorporate insurance analytics in their businesses due to the reduction in overall cost. Large enterprises are using insurance analytics in order to extract insights from the huge chunk of data being generated. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Continue:- • On the basis of application, the insurance analytics market is segmented into claim management, risk management, process optimization, customer management, and personalization. Insurance analytics helps insurance companies in determining the risk factor associated with the insurance cover, which decides the final insurance premium. For instance, an insurance company would look into the historical data of a client and if a client has history of over-speeding, he/she will be subjected to more premium to avail the insurance cover. • On the basis of end use, insurance analytics is segmented into insurance companies, government agencies, and third-party administrators. Insurance companies are extensively dependent on internal data analytics and also analyze the data from third-party data sources. Data is obtained from social media platforms or smart phones etc., which has become a major source for behavioral insights for insurance companies. Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/4674 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Regional Analysis: • North America dominated the overall insurance analytics market in 2019 and is expected to continue its dominance over the forecast period. This is attributed to the presence of major players in the field of analytics and the emergence of prescriptive/predictive analytics in the region. Asia Pacific is also expected to see a major growth over the forecast period owing to technological advancements in the region in countries including China, India & Japan. For instance, the India telecommunication sector has seen a huge uplift due to the introduction of 4G/5G technologies at a reasonable price, which has increased the digital imprint. • Competitive Analysis: • Major companies in the market are Hexaware Technologies, Microsoft Corporation, LexisNexis Risk Solutions, OpenText, MicroStrategy Inc., Oracle Corporation, Tableau Software, PEGASYSTEMS Inc., Sapiens International, Verisk Analytics Inc., Lemonade Inc., Metromile Inc., and Liberty Mutual. Request for a Customization of this research report https://www.gminsights.com/roc/4674 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. Latest Research Report on Insurance Analytics Market @ https://www.gminsights.com/industry-analysis/insurance-analytics-market Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/4674 Request for customization: https://www.gminsights.com/roc/4674 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com www.gminsights.com

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