Tag Archive | Insurtech

How Artificial Intelligence Benefits Regtech Innovation

How Artificial Intelligence Benefits Regtech Innovation

According to the latest market study by Juniper Research, insurers will spend $634 million on Robotic Process Automation (RPA) solutions by 2024, rising from $184 million in 2019 — that’s a 245 percent increase over the next 5 years.

via Digital Lifescapes

Blockchain Technology Revenue will Reach $10 Billion

Blockchain Technology Revenue will Reach $10 Billion

Despite a strong growth outlook from a revenue perspective, the blockchain market beyond financial and insurance applications is struggling to evolve, due in large part to the lack of a middleware class of blockchain offerings, which can help tie-in Blockchain-as-a-Service (BaaS) with applications from startups.

via Digital Lifescapes

Artificial Intelligence will Transform the Insurance Sector

Artificial Intelligence will Transform the Insurance Sector

According to the latest worldwide market study by Juniper Research, the value of artificial intelligence (AI) underwritten insurance premiums will exceed $20 billion by 2024 — that’s up from an estimated $1.3 billion in 2019.

via Digital Lifescapes

Exploring Insurer and AI InsurTech Partnerships

Exploring Insurer and AI InsurTech Partnerships

Total InsurTech funding reached $2.3 billion in 2017, a 36 percent increase from the $1.7 billion recorded in 2016. In 2016, AI and IoT accounted for almost half of the total investment in InsurTech startups globally.

via Everest Group

Insurance Industry Technology Investment Gains Momentum

The Evolution of Smart City Technology Use Cases

Almost $6 billion has been invested globally in insurance technology startups (Insurtech) in the last five years, particularly in digital customer engagement, mobile insurance management and analytics. In Australia, a new Insurtech industry association was launched this month, dedicated to the advancement of insurance innovation and startups.

Source: Gartner

Insurtech Platform Revenue to Reach $235 Billion in 2021

fintech insurtech market research

Fintech platform revenues derived from supporting the insurance industry (Insurtech) will reach almost $235 billion globally by 2021, that’s up by 34 percent y-o-y from an estimated $175 billion this year, according to Juniper Research.

Source: Digital Lifescapes

Global InsurTech Market is Driven by EMEA Region

global insurtech market research

The global InsurTech market is expected to post an impressive growth in terms of CAGR of more than 10% during the forecast period 2016-2020. EMEA occupied the maximum share of over 72% in the global insurtech market during 2015.

Source: Technavio