Insurance Software Market Research and Forecast Report 2023-2028

1. Global Insurance Software Market Research and Forecast Report 2023-2028 Author: Elena Anderson, Marketing Manager | Copyright © IMARC Service Pvt Ltd. All Rights Reserved IMARC Group © 2019 IMARC All Rights Reserved

2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

3. Report Description and Highlights Report Description Global Insurance Software Market Research Report: The latest report by IMARC, titled “Insurance Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” the global insurance software market size reached US$ 3.5 Billion in 2022. Insurance software refers to a set of digital tools, applications, and platforms that are designed to automate and streamline various processes related to insurance. It is used by insurance companies, agents, brokers, and other stakeholders to manage their operations, policy administration, claims processing, underwriting, and risk management activities. The software typically includes modules for customer relationship management, policy management, claims management, and billing and payments. It also incorporates analytics, artificial intelligence (AI), and machine learning (ML) capabilities to increase efficiency and improve decision-making, risk assessment, fraud detection, and customer engagement. Besides this, it helps organize, monitor, regulate, and coordinate various business processes, such as human resources (HR), lead management, marketing, and sales. Request market/requestsample Free Sample Report: https://www.imarcgroup.com/insurance-software-

4. Report Description and Highlights Report Description Global Insurance Software Market Trends: The rising need for digitalization and automation in the insurance sector to streamline business processes, enhance operational efficiency, reduce costs, and simplify customer interactions is primarily driving the market growth. Besides this, the escalating demand for mobile apps in insurance businesses to create customized software for their agents and representatives, enabling database access and global positioning system (GPS) tracking, is creating a positive outlook for the market. Moreover, the widespread product utilization for collecting information about various claims, such as outstanding claim reserves, event codes, payment components, and relevant dates of claim activities, is acting as another significant growth-inducing factor. In line with this, the rising use of insurance software to assess and calculate insurance risk parameters, such as unit and amount insured, system risk, and reinsurance surrender, is presenting remunerative growth opportunities for the market. Additionally, the escalating deployment of insurance software solutions that offer enhanced security features, such as data encryption, authentication, and authorization, to counter the increasing threat of cyber-attacks is impelling the market growth. Furthermore, extensive investments in research and development (R&D) activities to offer novel product variants integrated with artificial intelligence (AI) technology and advanced analytics that enhance insurance processes and provide more reliable claims processing and policy management solutions are contributing to the market growth. Looking forward, the market value is projected to reach US$ 5.1 Billion by 2028, expanding at a CAGR of 6.1% during 2023-2028. Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).

5. Report Description and Highlights Report Description Market Summary: Type Insights: • Life Insurance • Accident and Health Insurance • Property and Casualty Insurance • Others Deployment Mode Insights: • Cloud-based • On-premises End User Insights: • Brokers • Agencies • Insurance Companies Regional Insights: • North America • United States

6. Report Description and Highlights Report Description • 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

7. Report Description and Highlights Report Description Competitive Landscape with Key Players: • • • • • • • • • • • • • Accenture Plc Acturis Ltd. Axxis Systems SA Buckhill Ltd. EIS Software Limited Guidewire Software Inc. Mitchell International Inc. Oracle Corporation Salesforce Inc. SAP SE Sapiens International Corporation Solartis Technology Services Pvt Ltd. Vertafore Inc (Roper Technologies Inc.) View Full Report with TOC & List of Figure: https://www.imarcgroup.com/insurance-software- market

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9. We are the trusted business partners to the world's leading corporates, governments, and institutions Partial List of Clients A partial List of our Clients

10. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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