Report forecast the insurance technology market in
Europe to grow at a CAGR of 3.74% during 2014-2019.
Over the years, many insurance firms across Europe
have become increasingly dependent on technology and Internet to run their
business and drive revenue growth and this trend is expected to intensify
further.
The insurance sector in European countries is likely
to experience significant growth during the forecast period. However, it is
dependent on the recovery from recent recessions and economic crises. This
scenario varies from one country to another depending on the macroeconomic
factors. Slow economic growth has pressurized insurers by challenging their
investment strategy, existing business models and processes, product mixture,
and operating structures. The existing business models have resulted in very
low investment income and product margins. In order to receive greater
investment benefits, investors are required to simplify their operations at
reduced cost. Improving economic conditions in European countries are likely to
increase motor and home sales, and will aid in stimulating business formation.
Increased digitalization in European countries is
expected to fuel the insurance market during the forecast period. It will help
insurance companies reach customers in an efficient manner. Many larger
insurance organizations are planning to invest in digital marketing to develop
its business. In addition, advances in data analytics will benefit insurance
companies in gaining meaningful insights. Insurers are likely to create a
platform for receiving and storing these insights, which aids insurers in exploring
opportunities. Benefits gained through analytics insights for insurers includes
effective product design and pricing, agency management, reporting, and
improved customer-targeting processes.
This report covers the overview of the insurance
technology market in Europe. The report also includes the PEST analysis of the
insurance market in Europe, insurance brokerage market in Europe, and the
adoption of third platform technologies such as Cloud, Big Data, and others by
the insurance firms.
Insurance Technology Market in Europe 2015-2019, has
been prepared based on an in-depth market analysis with inputs from industry
experts. The report covers the market landscape and its growth prospects in the
coming years. The report also includes profile of key vendors operating in this
market.
According to the report, many insurance firms are
spending significant amounts of time and money on IT risk management systems to
identify, manage, optimize, and mitigate risks. Asset classes, customer
segments, functional departments, and products are top priorities for insurance
organizations. Failure to manage risks such as cyber-attacks and security
threats can damage organizations.
Key players in the Insurance Technology Market in
Europe: Accenture, Agile Financial Technologies, E&Y, HP, IBM, Mphasis,
Oracle and Sopra Steria
Other Prominent Vendors in the market are: Amazon Web
Service, BSB, Capgemini, Cognizant Technology Solutions, CSC, FICO, Genpact,
Google, Informatica, Netapp, Polaris, Rackspace Hosting, Salesforce, SAP,
Symantec, TCS, T-Systems, Verizon Communications, VMware and Wipro
Market Driver
- Rationalization of Transaction Process
- For a full, detailed list, view our report
Market
Challenge
- Reluctance to Change Legacy Systems
- For a full, detailed list, view our report
Market Trend
- Emergence of BaaS in Insurance Billing Operation
- For a full, detailed list, view our report
Key Questions
Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 106 pages “Insurance Technology Market in Europe 2015-2019” report
covers Executive Summary, List of Abbreviations, Scope of the Report, Market
Research Methodology, Introduction, Market Landscape, Adoption of Third
Platform Technologies, Insurance Brokerage Market in Europe, Key Leading
Countries, Buying Criteria, Market Growth Drivers, Drivers and their Impact,
Market Challenges, Impact of Drivers and Challenges, Market Trends, Trends and
their Impact, Vendor Landscape, Key Vendor Analysis.
For
further information on this report, please visit-
http://mrr.cm/4FE
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