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Market Research Report

Insurtech: Impact Assessments, Insurer Readiness & Market Forecasts 2019-2024

Published by Juniper Research Ltd Product code 562758
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Insurtech: Impact Assessments, Insurer Readiness & Market Forecasts 2019-2024
Published: August 13, 2019 Content info:
Description

Overview

Our new ‘Insurtech’ research offers valuable insights into the evolving insurtech market; presenting stakeholders with an extensive suite of market forecasts, accompanied by trend analysis.

The research provides a comprehensive overview of how new technologies are being used in the insurance space, including the growth of telematics and the increasing value of AI for underwriting and claims management. It also analyses the extent to which the top insurers in the world have begun to adapt their business models by leveraging insurtech. The research assesses the impact that insurtech is having on the main areas of insurance and examines technology providers' business models which are enabling digital transformation in the insurance space.

The research covers:

  • Car Insurance/Telematics
  • Home Insurance
  • Life Insurance
  • Health Insurance
  • Trade Credit Insurance
  • Travel Insurance
  • Insurance Broking

The research also provides business model analysis of:

  • On-Demand Insurance
  • Peer-to-Peer Insurance
  • Insurance Support Services

The research includes:

  • Market Trends & Opportunities (PDF)
  • 5-Year Market Sizing & Forecast Spreadsheet (PDF & Excel)

Key Features

  • Market Dynamics: Provides an extensive evaluation of the insurtech ecosystem, covering the following elements:
    • Analysis of each segment of insurance; how it is being, and will be, disrupted by the introduction of insurtech. Assessment of the impact of insurtech on car insurance/telematics, home insurance, life insurance and health insurance
    • Evaluation of insurtech prospects across key global regions; examining economic trends, the current insurance market, regulatory landscape and key factors likely to drive future growth.
    • Discussion of each technology that will be used in insurtech and its prospects for future traction.
    • Identification of key trends and constraints for insurtech growth.
  • Insurer Readiness Index: Index positioning for the top 20 insurers in the world by gross premiums written, on their insurtech investments and digital transformation efforts. This is a crucial resource for established insurers and new insurtech vendors.
  • Benchmark Industry Forecasts: Given across insurance segments for the number of insurtech-based premiums, policies underwritten with AI and claims assessment using AI systems. This covers the following segments:
    • Car Insurance/Telematics
    • Home Insurance
    • Life Insurance
    • Health Insurance
  • Juniper Leaderboard: 21 leading insurtech vendors compared, scored and positioned on the Juniper Leaderboard, including:
    • Blink Innovation
    • Clara Analytics
    • Digital Fineprint
    • Duck Creek Technologies
    • FINEOS
    • FRISS
    • Guidewire
    • Hi Marley
    • Octo Telematics
    • Omni:us
    • Quantemplate
    • Roost
    • Shift Technology
    • Slice Labs
    • Snapsheet
    • SPIXII
    • The Floow
    • TomTom Telematics
    • Tractable
    • wefox
    • Zendrive

Key Questions

  • 1. What is the size of the insurtech market globally and what will it be worth over the next 5 years?
  • 2. What impact is insurtech having on the way insurance is underwritten?
  • 3. How is insurtech disrupting individual insurance sectors?
  • 4. What are the key drivers and constraints for the adoption of insurtech by insurers?
  • 5. What is the global and regional landscape outlook for the insurance industry and how will this affect the adoption of insurtech?

Companies Referenced

  • Case Studied: Hokodo, Shuidihuzhu (Waterdrop), Trov, yulife.
  • Included in Insurtech Readiness Index: Aetna, Allianz SE, Anthem, Assicurazioni Generali SpA, AXA SA, Berkshire Hathaway , Centene Corporation, China Life Insurance, Dai-ichi Life Holdings, Humana, Kaiser Permanente, Life Insurance Corporation of India, Munich Reinsurance, Nippon Life Insurance Company, People's Insurance Company of China, Ping An Insurance, Prudential, State Farm Group, Tokio Marine Holdings, UnitedHealth Group.
  • Included in Juniper Leaderboard: Blink Innovation, Clara Analytics, Digital Fineprint, Duck Creek Technologies, FINEOS, FRISS, Guidewire, Hi Marley, Octo Telematics, omni:us, Quantemplate, Roost, Shift Technology, Slice Labs, Snapsheet, SPIXII, The Floow, TomTom Telematics, Tractable, wefox, Zendrive.
  • Mentioned: Accenture, Acko, Ageas, AIG, Alaska National Insurance, Amazon, AmTrust, Anthem, Aon, Apax Partners, Apple, Armed Forces Insurance, Atradius, Aviva, Babylon Health, Baidu, Baloise, Bankers Insurance, Blue Cross, Bridgestone, BUPA, Centauri Insurance, CIRC (China Insurance Regulatory Commission), CNA Financial Corporation, Cogito, Cognizant, Compare the Market, Covéa, Coverfo, Coverly, Coverys, CPPGroup, Credable, Credit Agricole Pacifica, Curo Health Services, DataCede, Direct Line, DropIn, DXC Technology, ETInsure, Evry, Expression Insurance, Farmers Protective Mutual Insurance Company, Focum, Fosun Group, Friendsurance, FSA (Financial Services Agency of the Japanese Government), General Insurance Association of Singapore, Groupe PSA, HDI, HiRoad, Hiscox, Hopper, IBM, Inshur, Institutes RiskBlock Alliance, InsureFirst, Insurtech UK, Intact Insurance, John Hancock, Keylane, Kindred Healthcare, Legal & General, Lemonade, Liberty Mutual, MACIF, Mansutti SpA, Merchants Insurance, MetLife, Metromile, MS&AD Insurance Group, NAIC (National Association for Insurance Commissioners), Nationale-Nederlanden, Nauto, Neos Smart Home Insurance, Norfolk and Dedham, OECD, ONE Insurance, OneAmerica, Outline Systems, Patisserie Valerie, Paytm, PingJia Technology, Plug and Play China, PURE, QBE North America, Qualitas, Relayr, Rhion Digital, RxAdvance, SchemeServe, Sears, Selective, Signal Iduna, Simplesurance, Sompo Holdings, Spirica, StoneCo, Studio Franchini, Suncorp, Swiss Re, Tapoly, Teambrella, The Co-operators, Ticker, Tictrac, Tieto, Trexis Insurance, TRISTAR, UnipolSai, United Electronics, United Fire Group, United Imaging Healthcare, UniteUs, USAA, Utica National Insurance, Via Verde, WeChat, Wego, West Bend Mutual, Willis Towers Watson, Woop, World Bank, Zego, Zhong An, Zurich.

Data & Interactive Forecast

Juniper Research's ‘Insurtech’ forecast suite includes:

  • Country level data splits for:
    • US
    • Canada
    • Brazil
    • Mexico
    • France
    • Germany
    • UK
    • China
    • Plus 8 key global regions
  • Data splits by insurance segment:
    • Global Insurance Market
    • Car Insurance
    • Home Insurance
    • Life Insurance
    • Health Insurance
  • Interactive Scenario tool allowing the user the ability to manipulate Juniper Research's data for 12 different metrics.
    • Access to the full set of forecast data of 133 tables and over 15,960 datapoints.

Juniper Research's highly granular interactive Excels enable clients to manipulate Juniper Research's forecast data and charts to test their own assumptions and compare markets side by side in customised charts and tables. IFxls greatly increase clients' ability to both understand a particular market and to integrate their own views into the model.

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