PUBLISHER: KBV Research | PRODUCT CODE: 1335666
PUBLISHER: KBV Research | PRODUCT CODE: 1335666
Europe Insurance Chatbot Market Size, Share & Industry Trends Analysis Report By Type, By User Interface (Text-based Interface and Voice-based Interface), By Country and Growth Forecast, 2023 - 2030
The Europe Insurance Chatbot Market would witness market growth of 24.4% CAGR during the forecast period (2023-2030).
The market is expanding due to an increasing need for automated services and the expanding use of NLP and AI technology. Many customers use self-service options like chatbots to handle their insurance needs. Customers can utilize chatbots to perform basic tasks like submitting a claim or checking the status of their insurance policy as well as obtain answers to their questions swiftly and efficiently. Moreover, the insurance industry is progressively implementing technology like natural language processing (NLP) and artificial intelligence (AI).
It makes sense that these technologies would advance to include the usage of chatbots to automate various insurance-related tasks. The adoption of NLP technology has also increased as machine learning (ML) and artificial intelligence (AI) technologies have increased in the insurance sector. Contrarily, the market is anticipated to expand in the next years due to technical developments in the industry, such as artificial intelligence (AI) development.
In the UK, it is projected that over the coming years, demand for weddings and private event management services will rise in tandem with rising consumer disposable income. A boost in revenue from services connected to event planning for corporate occasions is also anticipated because of rising company confidence. Insurance firms expect their earnings to increase due to the expanding event management industry, which heavily relies on insurance services to secure countless items from theft or damage. As a result of the insurance firms' adoption of new technologies to support customer service and optimize operational procedures, the market is expected to expand steadily in the coming years.
The Germany market dominated the Europe Insurance Chatbot Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $174.6 million by 2030. The UK market is experiencing a CAGR of 23.3% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 25.3% during (2023 - 2030).
Based on Type, the market is segmented into Customer Service Chatbots, Sales Chatbots, Claims Processing Chatbots, Underwriting Chatbots and Others. Based on User Interface, the market is segmented into Text-based Interface and Voice-based Interface. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Oracle Corporation, Nuance Communications, Inc. (Microsoft Corporation), Verint Systems, Inc., LivePerson, Inc., Inbenta Technologies, Inc., AlphaChat, Botsify and 200 Labs, Inc. (Chatfuel).
Scope of the Study
Market Segments covered in the Report:
By Type
- Customer Service Chatbots
- Sales Chatbots
- Claims Processing Chatbots
- Underwriting Chatbots
- Others
By User Interface
- Text-based Interface
- Voice-based Interface
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Companies Profiled
- IBM Corporation
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Oracle Corporation
- Nuance Communications, Inc. (Microsoft Corporation)
- Verint Systems, Inc.
- LivePerson, Inc.
- Inbenta Technologies, Inc.
- AlphaChat
- Botsify
- 200 Labs, Inc. (Chatfuel)
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Europe Insurance Chatbot Market, by Type
- 1.4.2 Europe Insurance Chatbot Market, by User Interface
- 1.4.3 Europe Insurance Chatbot Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlight
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.3 Porter's Five Force Analysis
Chapter 4. Strategies Deployed in Insurance Chatbot Market
Chapter 5. Europe Insurance Chatbot Market by Type
- 5.1 Europe Customer Service Chatbots Market by Country
- 5.2 Europe Sales Chatbots Market by Country
- 5.3 Europe Claims Processing Chatbots Market by Country
- 5.4 Europe Underwriting Chatbots Market by Country
- 5.5 Europe Others Market by Country
Chapter 6. Europe Insurance Chatbot Market by User Interface
- 6.1 Europe Text-based Interface Market by Country
- 6.2 Europe Voice-based Interface Market by Country
Chapter 7. Europe Insurance Chatbot Market by Country
- 7.1 Germany Insurance Chatbot Market
- 7.1.1 Germany Insurance Chatbot Market by Type
- 7.1.2 Germany Insurance Chatbot Market by User Interface
- 7.2 UK Insurance Chatbot Market
- 7.2.1 UK Insurance Chatbot Market by Type
- 7.2.2 UK Insurance Chatbot Market by User Interface
- 7.3 France Insurance Chatbot Market
- 7.3.1 France Insurance Chatbot Market by Type
- 7.3.2 France Insurance Chatbot Market by User Interface
- 7.4 Russia Insurance Chatbot Market
- 7.4.1 Russia Insurance Chatbot Market by Type
- 7.4.2 Russia Insurance Chatbot Market by User Interface
- 7.5 Spain Insurance Chatbot Market
- 7.5.1 Spain Insurance Chatbot Market by Type
- 7.5.2 Spain Insurance Chatbot Market by User Interface
- 7.6 Italy Insurance Chatbot Market
- 7.6.1 Italy Insurance Chatbot Market by Type
- 7.6.2 Italy Insurance Chatbot Market by User Interface
- 7.7 Rest of Europe Insurance Chatbot Market
- 7.7.1 Rest of Europe Insurance Chatbot Market by Type
- 7.7.2 Rest of Europe Insurance Chatbot Market by User Interface
Chapter 8. Company Profiles
- 8.1 IBM Corporation
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Regional & Segmental Analysis
- 8.1.4 Research & Development Expenses
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.5.2 Product Launches and Product Expansions:
- 8.1.6 SWOT Analysis
- 8.2 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental Analysis
- 8.2.4 Recent Strategies and Developments:
- 8.2.4.1 Product Launches and Product Expansions:
- 8.2.5 SWOT Analysis
- 8.3 Oracle Corporation
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.6 SWOT Analysis
- 8.4 Nuance Communications, Inc. (Microsoft Corporation)
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expenses
- 8.4.5 Recent Strategies and Developments:
- 8.4.5.1 Product Launches and Product Expansions:
- 8.4.6 SWOT Analysis
- 8.5 Verint Systems, Inc.
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Regional Analysis
- 8.5.4 Research and Development Expense
- 8.5.5 SWOT Analysis
- 8.6 LivePerson, Inc.
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Regional & Segmental Analysis
- 8.6.4 SWOT Analysis
- 8.7 Inbenta Technologies, Inc.
- 8.7.1 Company Overview
- 8.7.2 SWOT Analysis
- 8.8 AlphaChat
- 8.8.1 Company Overview
- 8.9 Botsify
- 8.9.1 Company Overview
- 8.9.2 SWOT Analysis
- 8.10. 200 Labs, Inc. (Chatfuel)
- 8.10.1 Company Overview
LIST OF TABLES
- TABLE 1 Europe Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 2 Europe Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 3 Europe Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 4 Europe Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 5 Europe Customer Service Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 6 Europe Customer Service Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 7 Europe Sales Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 8 Europe Sales Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 9 Europe Claims Processing Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 10 Europe Claims Processing Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 11 Europe Underwriting Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 12 Europe Underwriting Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 13 Europe Others Market by Country, 2019 - 2022, USD Million
- TABLE 14 Europe Others Market by Country, 2023 - 2030, USD Million
- TABLE 15 Europe Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 16 Europe Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 17 Europe Text-based Interface Market by Country, 2019 - 2022, USD Million
- TABLE 18 Europe Text-based Interface Market by Country, 2023 - 2030, USD Million
- TABLE 19 Europe Voice-based Interface Market by Country, 2019 - 2022, USD Million
- TABLE 20 Europe Voice-based Interface Market by Country, 2023 - 2030, USD Million
- TABLE 21 Europe Insurance Chatbot Market by Country, 2019 - 2022, USD Million
- TABLE 22 Europe Insurance Chatbot Market by Country, 2023 - 2030, USD Million
- TABLE 23 Germany Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 24 Germany Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 25 Germany Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 26 Germany Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 27 Germany Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 28 Germany Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 29 UK Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 30 UK Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 31 UK Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 32 UK Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 33 UK Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 34 UK Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 35 France Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 36 France Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 37 France Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 38 France Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 39 France Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 40 France Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 41 Russia Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 42 Russia Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 43 Russia Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 44 Russia Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 45 Russia Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 46 Russia Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 47 Spain Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 48 Spain Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 49 Spain Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 50 Spain Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 51 Spain Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 52 Spain Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 53 Italy Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 54 Italy Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 55 Italy Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 56 Italy Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 57 Italy Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 58 Italy Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 59 Rest of Europe Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 60 Rest of Europe Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 61 Rest of Europe Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 62 Rest of Europe Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 63 Rest of Europe Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 64 Rest of Europe Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 65 Key information - IBM Corporation
- TABLE 66 Key Information - Amazon Web Services, Inc.
- TABLE 67 Key Information - Oracle Corporation
- TABLE 68 Key Information - Nuance Communications, Inc.
- TABLE 69 Key information -Verint Systems, Inc.
- TABLE 70 Key information - LivePerson, Inc.
- TABLE 71 Key Information - Inbenta Technologies, Inc.
- TABLE 72 Key Information - AlphaChat
- TABLE 73 Key Information - Botsify
- TABLE 74 Key Information - 200 Labs, Inc.
List of Figures
- FIG 1 Methodology for the research
- FIG 2 Europe Insurance Chatbot Market, 2019 - 2030, USD Million
- FIG 3 Key Factors Impacting the Market
- FIG 4 Porter's Five Force Analysis: Insurance Chatbot Market
- FIG 5 Europe Insurance Chatbot Market share by Type, 2022
- FIG 6 Europe Insurance Chatbot Market share by Type, 2030
- FIG 7 Europe Insurance Chatbot Market by Type, 2019 - 2030, USD Million
- FIG 8 Europe Insurance Chatbot Market share by User Interface, 2022
- FIG 9 Europe Insurance Chatbot Market share by User Interface, 2030
- FIG 10 Europe Insurance Chatbot Market by User Interface, 2019 - 2030, USD Million
- FIG 11 Europe Insurance Chatbot Market share by Country, 2022
- FIG 12 Europe Insurance Chatbot Market share by Country, 2030
- FIG 13 Europe Insurance Chatbot Market by Country, 2019 - 2030, USD Million
- FIG 14 Recent strategies and developments: IBM Corporation
- FIG 15 Swot Analysis: IBM Corporation
- FIG 16 SWOT analysis: Amazon.com, Inc.
- FIG 17 SWOT analysis: Oracle Corporation
- FIG 18 SWOT Analysis: Nuance Communications, Inc.
- FIG 19 SWOT Analysis: Verint Systems, Inc.
- FIG 20 SWOT Analysis: LivePerson, Inc.
- FIG 21 SWOT Analysis: INBENTA TECHNOLOGIES, INC.
- FIG 22 SWOT Analysis: Botsify
