The global Insurance Analytics Market is forecast to reach USD 16.69 Billion by 2026, according to a new report by Reports and Data. Big data analytics can be beneficial in acquiring the necessary data in a short amount of time. This enables the companies to know the needs and preferences of their customers. Insurance firms can also provide personalized plans depending on their customer’s needs. Using analytical tools, customers can access all the insurance policies in a single, centric dashboard.
One of the most significant issues that insurance companies face is fraud. With big data analytics, a large amount of data can be checked in a short time. It includes various big data solutions, such as social network analysis and telematics. Moreover, a large amount of data is needed and received for subrogation cases. The data can come from the medical records, police records, and even the notes regarding them. Big data analytics allows its users to keep track of the cases that are being investigated.
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Top companies operating in the market and profiled in the report include:
Key participants include Microsoft, IBM, SAP SE, Oracle, SAS Institute, Salesforce, Verisk Analytics, OpenText, Pegasystems, Tableau Software, Guidewire, Hexaware, Sapiens International, MicroStrategy, Palantir, LexisNexis, Applied Systems, TIBCO Software, BOARD International, Birst, QlikTech, Mitchell International, PrADS Inc., Vertafore, and BRIDGEi2i, among others.
Competitive Outlook:
The report focuses on current and emerging trends in the ICT industry. Top companies in the market are focusing on RD activities to bring newer and better technologies for enhanced consumer experience.
This report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, and recent developments in both historic and present contexts.
The report segments the Insurance Analytics market on the basis of product types, technology, applications, end-use industries, and regions among others. The report offers insights into key factors influencing the revenue growth of the segment, thereby providing offering lucrative investment opportunities for investors, and clients.
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Application Outlook (Revenue, USD Billion; 2016-2026)
- Claim Management
- Fraud Analysis
- Risk Management
- Process Optimization
- Subrogation Analysis
- Customer Management And Personalization
- Others
Deployment Outlook (Revenue, USD Billion; 2016-2026)
- Cloud Deployment
- On-Premises Deployment
Organization Size Outlook (Revenue, USD Billion; 2016-2026)
- Small and Medium Sized Organizations
- Large Organizations
End User Outlook (Revenue, USD Billion; 2016-2026)
- Insurance Providers
- IT and Telecommunication
- Government Agencies
- Consultants And Advisory Firms
- Others
Regional Analysis covers:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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