PUBLISHER: KBV Research | PRODUCT CODE: 1335668
PUBLISHER: KBV Research | PRODUCT CODE: 1335668
LAMEA 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 Latin America, Middle East and Africa Insurance Chatbot Market would witness market growth of 28.3% CAGR during the forecast period (2023-2030).
Consumers and companies can communicate with their carriers more efficiently and smoothly due to chatbots. There are chances for customers to ask fast questions and receive prompt responses, whether they are looking for new insurance or a better price, enrolling to comprehend their benefits, enquiring about their policy, or making a claim. A better workforce, more effective operations with reduced operating costs, and higher customer satisfaction are all benefits that insurance companies can experience. Chatbots can speed up insurance interactions, allowing insurance businesses to improve and streamline procedures throughout the insurance industry. This benefit has led to a significant increase in the use of insurance chatbots and has sped up the market's growth.
Chatbots can significantly reduce operating expenses when they respond to routine requests and consumer concerns quickly. Following implementing a virtual assistant (VA), businesses report a considerable decrease in emails, phone calls, and one-on-one chats. This is crucial for the insurance sector since carriers are under increasing pressure to cut costs wherever they can in a precarious economic environment. A chatbot can help smaller businesses avoid the time and expense of hiring and onboarding new staff when they aren't quite ready to expand.
With the introduction of required health insurance in Abu Dhabi and, recently, in Dubai and Sharjah, along with a shift towards private healthcare, the number of people in the UAE with health insurance increased considerably because of the government's policies requiring it in all seven of its Emirates. The penetration of health insurance has greatly increased as a result. In addition, the government is greatly expanding the use of health insurance in the area. For instance, the governments of Abu Dhabi & Dubai provide health insurance to all inhabitants.
Similarly, every employee in Ajman's government is provided with health insurance. Furthermore, Abu Dhabi and Dubai demand that firms provide health insurance to their employees. The cost of healthcare services per person has also gone up as a result of the country's economic diversification and ongoing immigration. Other factors, including the prevalence of lifestyle diseases and the high medical care cost, favor the sector.
The Brazil market dominated the LAMEA Insurance Chatbot Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $46.8 million by 2030. The Argentina market is exhibiting a CAGR of 29% during (2023 - 2030). Additionally, The UAE market would experience a CAGR of 28% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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 LAMEA Insurance Chatbot Market, by Type
- 1.4.2 LAMEA Insurance Chatbot Market, by User Interface
- 1.4.3 LAMEA 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. LAMEA Insurance Chatbot Market by Type
- 5.1 LAMEA Customer Service Chatbots Market by Country
- 5.2 LAMEA Sales Chatbots Market by Country
- 5.3 LAMEA Claims Processing Chatbots Market by Country
- 5.4 LAMEA Underwriting Chatbots Market by Country
- 5.5 LAMEA Others Market by Country
Chapter 6. LAMEA Insurance Chatbot Market by User Interface
- 6.1 LAMEA Text-based Interface Market by Country
- 6.2 LAMEA Voice-based Interface Market by Country
Chapter 7. LAMEA Insurance Chatbot Market by Country
- 7.1 Brazil Insurance Chatbot Market
- 7.1.1 Brazil Insurance Chatbot Market by Type
- 7.1.2 Brazil Insurance Chatbot Market by User Interface
- 7.2 Argentina Insurance Chatbot Market
- 7.2.1 Argentina Insurance Chatbot Market by Type
- 7.2.2 Argentina Insurance Chatbot Market by User Interface
- 7.3 UAE Insurance Chatbot Market
- 7.3.1 UAE Insurance Chatbot Market by Type
- 7.3.2 UAE Insurance Chatbot Market by User Interface
- 7.4 Saudi Arabia Insurance Chatbot Market
- 7.4.1 Saudi Arabia Insurance Chatbot Market by Type
- 7.4.2 Saudi Arabia Insurance Chatbot Market by User Interface
- 7.5 South Africa Insurance Chatbot Market
- 7.5.1 South Africa Insurance Chatbot Market by Type
- 7.5.2 South Africa Insurance Chatbot Market by User Interface
- 7.6 Nigeria Insurance Chatbot Market
- 7.6.1 Nigeria Insurance Chatbot Market by Type
- 7.6.2 Nigeria Insurance Chatbot Market by User Interface
- 7.7 Rest of LAMEA Insurance Chatbot Market
- 7.7.1 Rest of LAMEA Insurance Chatbot Market by Type
- 7.7.2 Rest of LAMEA 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 LAMEA Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 2 LAMEA Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 3 LAMEA Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 4 LAMEA Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 5 LAMEA Customer Service Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 6 LAMEA Customer Service Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 7 LAMEA Sales Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 8 LAMEA Sales Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 9 LAMEA Claims Processing Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 10 LAMEA Claims Processing Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 11 LAMEA Underwriting Chatbots Market by Country, 2019 - 2022, USD Million
- TABLE 12 LAMEA Underwriting Chatbots Market by Country, 2023 - 2030, USD Million
- TABLE 13 LAMEA Others Market by Country, 2019 - 2022, USD Million
- TABLE 14 LAMEA Others Market by Country, 2023 - 2030, USD Million
- TABLE 15 LAMEA Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 16 LAMEA Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 17 LAMEA Text-based Interface Market by Country, 2019 - 2022, USD Million
- TABLE 18 LAMEA Text-based Interface Market by Country, 2023 - 2030, USD Million
- TABLE 19 LAMEA Voice-based Interface Market by Country, 2019 - 2022, USD Million
- TABLE 20 LAMEA Voice-based Interface Market by Country, 2023 - 2030, USD Million
- TABLE 21 LAMEA Insurance Chatbot Market by Country, 2019 - 2022, USD Million
- TABLE 22 LAMEA Insurance Chatbot Market by Country, 2023 - 2030, USD Million
- TABLE 23 Brazil Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 24 Brazil Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 25 Brazil Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 26 Brazil Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 27 Brazil Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 28 Brazil Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 29 Argentina Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 30 Argentina Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 31 Argentina Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 32 Argentina Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 33 Argentina Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 34 Argentina Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 35 UAE Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 36 UAE Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 37 UAE Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 38 UAE Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 39 UAE Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 40 UAE Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 41 Saudi Arabia Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 42 Saudi Arabia Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 43 Saudi Arabia Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 44 Saudi Arabia Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 45 Saudi Arabia Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 46 Saudi Arabia Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 47 South Africa Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 48 South Africa Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 49 South Africa Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 50 South Africa Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 51 South Africa Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 52 South Africa Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 53 Nigeria Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 54 Nigeria Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 55 Nigeria Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 56 Nigeria Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 57 Nigeria Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 58 Nigeria Insurance Chatbot Market by User Interface, 2023 - 2030, USD Million
- TABLE 59 Rest of LAMEA Insurance Chatbot Market, 2019 - 2022, USD Million
- TABLE 60 Rest of LAMEA Insurance Chatbot Market, 2023 - 2030, USD Million
- TABLE 61 Rest of LAMEA Insurance Chatbot Market by Type, 2019 - 2022, USD Million
- TABLE 62 Rest of LAMEA Insurance Chatbot Market by Type, 2023 - 2030, USD Million
- TABLE 63 Rest of LAMEA Insurance Chatbot Market by User Interface, 2019 - 2022, USD Million
- TABLE 64 Rest of LAMEA 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 LAMEA 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 LAMEA Insurance Chatbot Market share by Type, 2022
- FIG 6 LAMEA Insurance Chatbot Market share by Type, 2030
- FIG 7 LAMEA Insurance Chatbot Market by Type, 2019 - 2030, USD Million
- FIG 8 LAMEA Insurance Chatbot Market share by User Interface, 2022
- FIG 9 LAMEA Insurance Chatbot Market share by User Interface, 2030
- FIG 10 LAMEA Insurance Chatbot Market by User Interface, 2019 - 2030, USD Million
- FIG 11 LAMEA Insurance Chatbot Market share by Country, 2022
- FIG 12 LAMEA Insurance Chatbot Market share by Country, 2030
- FIG 13 LAMEA 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
