According to Grand View Research, “The global insurtech market size was valued at USD 5.45 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 52.7% from 2023 to 2030.” Take a look at how the InsurTech transition market is expected to grow segment-wise in the U.S. As is...
According to the Market Research Report published by Fortune Business Insights in April 2023 for the base year 2022, “The global big data analytics market size was valued at $271.83 billion in 2022”. Of this, the Banking and Financial Services and Insurance (BFSI) industry holds 23%, one of the biggest chunk. The report further adds,...
The insurance market is exponentially growing due to changes in customer sensibilities. With this, insurance companies need an overhaul of workflows to reduce the turnaround time period and improve service delivery. In addition, having backlogs (the prime reason behind process-related delays) indicates that your company is unable to meet customer demands, affecting your company’s reputation in the...
In recent years, with revolutionary, modern technologies, insurance policy administration has remarkably evolved, producing flexible solutions. Consequently, insurers gained advantages such as innovation, improved customer experience, and reduced efforts, supporting them to offer new insurance products, better through agencies. The overall improvements have drastically influenced the sale and purchase of insurance in the market. Modern...
