The North America Insurance Analytics Market would witness market growth of 15.4% CAGR during the forecast period (2021-2027). The combination of third-party data with the insurance companies to reduce the risks is also increasing the gravity. The customers are made aware of the importance of insurance in their lives during this period. For instance, health coverage helps in drug & treatment plans for ill people, employment insurance assists all the people who are affected by the economic disruption and business insurance covers the support of the businesses that are unable to run.
It is important for companies to continue investing and allowing access for customers and also confirm that the underwriters are fully aware of the future risks. Certain emergency situations like the COVID-19 pandemic emphasize the need for insurers to effortlessly embedded actionable insights, reliable data sources, and access control actions to assist in monitoring the uncertain landscape. By utilizing the data & investing in digitization & analytics, insurers can easily monitor these kinds of challenging situations and drive the industry forward.
By adopting the analytics solutions, companies are aiming to enhance customer experience and also provide solution on the basis of expert knowledge about customer behaviour & requirement. The insurer can modify and redevelop some latest strategies & products that can boost the sales in the market by utilizing the customers’ behaviour data. Using this software, insurers can empower distributors or agents with equipment to detect different business opportunities & serve their current customers. Analytics solutions also enable the organization to reduce total customer handling time, cost, and fraud cases, which will fuel the market growth. The huge cost attached to the insurance is a major concern for insurers around the world. Though, the analytics solution assists the insurers in managing the risks by forecasting the cost of insurance related to the coverage. Additionally, analytics also enable companies to reduce losses by identifying and minimizing fraudulent cases.
The US market dominated the North America Insurance Analytics Services Market by Country 2020, and would continue to be a dominant market till 2027. The Canada market is experiencing a CAGR of 20.2% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 19.2% during (2021 - 2027).
Based on Component, the market is segmented into Tools and Services. Based on Application, the market is segmented into Risk Management, Customer Management & Personalization, Claim Management, Process Optimization, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Insurance Companies, Government Agencies and Third-party Administrators, Brokers, & Consultancies. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Insurance Analytics Market is Estimated to Reach USD 25.1 Billion by 2027 at a CAGR of 16.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Salesforce.com, Inc., Oracle Corporation, Microsoft Corporation, SAP SE, OpenText Corporation, Pegasystems, Inc., MicroStrategy, Inc., SAS Institute, Inc., and Roper Technologies, Inc. (Vertafore, Inc.)
Scope of the Study
Market Segments Covered in the Report:
By Component
By Application
- Risk Management
- Customer Management & Personalization
- Claim Management
- Process Optimization
- Others
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
By End User
- Insurance Companies
- Government Agencies
- Third-party Administrators, Brokers, & Consultancies
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Salesforce.com, Inc.
- Oracle Corporation
- Microsoft Corporation
- SAP SE
- OpenText Corporation
- Pegasystems, Inc.
- MicroStrategy, Inc.
- SAS Institute, Inc.
- Roper Technologies, Inc. (Vertafore, Inc.)
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Insurance Analytics Market, by Component
1.4.2 North America Insurance Analytics Market, by Application
1.4.3 North America Insurance Analytics Market, by Deployment Type
1.4.4 North America Insurance Analytics Market, by Enterprise Size
1.4.5 North America Insurance Analytics Market, by End User
1.4.6 North America Insurance Analytics Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2019, Jan – 2021, Mar) Leading Players
Chapter 4. North America Insurance Analytics Market by Component
4.1 North America Insurance Analytics Tools Market by Country
4.2 North America Insurance Analytics Services Market by Country
Chapter 5. North America Insurance Analytics Market by Application
5.1 North America Insurance Analytics Risk Management Market by Country
5.2 North America Insurance Analytics Customer Management & Personalization Market by Country
5.3 North America Insurance Analytics Claim Management Market by Country
5.4 North America Insurance Analytics Process Optimization Market by Country
5.5 North America Other Application Insurance Analytics Market by Country
Chapter 6. North America Insurance Analytics Market by Deployment Type
6.1 North America On-premise Insurance Analytics Market by Country
6.2 North America Cloud Insurance Analytics Market by Country
Chapter 7. North America Insurance Analytics Market by Enterprise Size
7.1 North America Large Enterprises Insurance Analytics Market by Country
7.2 North America Small & Medium Enterprises Insurance Analytics Market by Country
Chapter 8. North America Insurance Analytics Market by End User
8.1 North America Insurance Companies Insurance Analytics Market by Country
8.2 North America Government Agencies Insurance Analytics Market by Country
8.3 North America Third-party Administrators, Brokers, & Consultancies Insurance Analytics Market by Country
Chapter 9. North America Insurance Analytics Market by Country
9.1 US Insurance Analytics Market
9.1.1 US Insurance Analytics Market by Component
9.1.2 US Insurance Analytics Market by Application
9.1.3 US Insurance Analytics Market by Deployment Type
9.1.4 US Insurance Analytics Market by Enterprise Size
9.1.5 US Insurance Analytics Market by End User
9.2 Canada Insurance Analytics Market
9.2.1 Canada Insurance Analytics Market by Component
9.2.2 Canada Insurance Analytics Market by Application
9.2.3 Canada Insurance Analytics Market by Deployment Type
9.2.4 Canada Insurance Analytics Market by Enterprise Size
9.2.5 Canada Insurance Analytics Market by End User
9.3 Mexico Insurance Analytics Market
9.3.1 Mexico Insurance Analytics Market by Component
9.3.2 Mexico Insurance Analytics Market by Application
9.3.3 Mexico Insurance Analytics Market by Deployment Type
9.3.4 Mexico Insurance Analytics Market by Enterprise Size
9.3.5 Mexico Insurance Analytics Market by End User
9.4 Rest of North America Insurance Analytics Market
9.4.1 Rest of North America Insurance Analytics Market by Component
9.4.2 Rest of North America Insurance Analytics Market by Application
9.4.3 Rest of North America Insurance Analytics Market by Deployment Type
9.4.4 Rest of North America Insurance Analytics Market by Enterprise Size
9.4.5 Rest of North America Insurance Analytics Market by End User
Chapter 10. Company Profiles
10.1 IBM Corporation
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Regional & Segmental Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.6 SWOT Analysis
10.2 Salesforce.com, Inc.
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Regional Analysis
10.2.4 Research & Development Expense
10.2.5 Recent strategies and developments:
10.2.5.1 Partnerships, Collaborations, and Agreements:
10.2.5.2 Product Launches and Product Expansions:
10.2.5.3 Acquisition and Mergers:
10.2.6 SWOT Analysis
10.3 Oracle Corporation
10.3.1 Company Overview
10.3.2 Financial Analysis
10.3.3 Segmental and Regional Analysis
10.3.4 Research & Development Expense
10.3.5 Recent strategies and developments:
10.3.5.1 Partnerships, Collaborations, and Agreements:
10.3.6 SWOT Analysis
10.4 Microsoft Corporation
10.4.1 Company Overview
10.4.2 Financial Analysis
10.4.3 Segmental and Regional Analysis
10.4.4 Research & Development Expenses
10.4.5 Recent strategies and developments:
10.4.5.1 Partnerships, Collaborations, and Agreements:
10.4.6 SWOT Analysis
10.5 SAP SE
10.5.1 Company Overview
10.5.2 Financial Analysis
10.5.3 Segmental and Regional Analysis
10.5.4 Research & Development Expense
10.5.5 Recent strategies and developments:
10.5.5.1 Acquisition and Mergers:
10.5.6 SWOT Analysis
10.6 OpenText Corporation
10.6.1 Company Overview
10.6.2 Financial Analysis
10.6.3 Regional Analysis
10.6.4 Research & Development Expense
10.6.5 Recent strategies and developments:
10.6.5.1 Product Launches and Product Expansions:
10.6.5.2 Acquisition and Mergers:
10.6.6 SWOT Analysis
10.7 Pegasystems, Inc.
10.7.1 Company Overview
10.7.2 Financial Analysis
10.7.3 Regional Analysis
10.7.4 Research & Development Expense
10.7.5 Recent strategies and developments:
10.7.5.1 Partnerships, Collaborations, and Agreements:
10.7.5.2 Product Launches and Product Expansions:
10.7.5.3 Acquisition and Mergers:
10.7.6 SWOT Analysis
10.8 MicroStrategy, Inc.
10.8.1 Company Overview
10.8.2 Financial Analysis
10.8.3 Regional Analysis
10.8.4 Research & Development Expenses
10.8.5 Recent strategies and developments:
10.8.5.1 Partnerships, Collaborations, and Agreements:
10.8.6 SWOT Analysis
10.9 SAS Institute, Inc.
10.9.1 Company Overview
10.9.2 Recent strategies and developments:
10.9.2.1 Partnerships, Collaborations, and Agreements:
10.9.2.2 Acquisition and Mergers:
10.10. Roper Technologies, Inc. (Vertafore, Inc.)
10.10.1 Company Overview
10.10.2 Financial Analysis
10.10.3 Segmental and Regional Analysis
10.10.4 Research & Development Expense
10.10.5 Recent strategies and developments:
10.10.5.1 Partnerships, Collaborations, and Agreements:
10.10.5.2 Product Launches and Product Expansions:
10.10.5.3 Acquisition and Mergers:
TABLE 1 North America Insurance Analytics Market, 2017 - 2020, USD Million
TABLE 2 North America Insurance Analytics Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Insurance Analytics Market
TABLE 4 Product Launches And Product Expansions– Insurance Analytics Market
TABLE 5 Acquisition and Mergers– Insurance Analytics Market
TABLE 6 North America Insurance Analytics Market by Component, 2017 - 2020, USD Million
TABLE 7 North America Insurance Analytics Market by Component, 2021 - 2027, USD Million
TABLE 8 North America Insurance Analytics Tools Market by Country, 2017 - 2020, USD Million
TABLE 9 North America Insurance Analytics Tools Market by Country, 2021 - 2027, USD Million
TABLE 10 North America Insurance Analytics Services Market by Country, 2017 - 2020, USD Million
TABLE 11 North America Insurance Analytics Services Market by Country, 2021 - 2027, USD Million
TABLE 12 North America Insurance Analytics Market by Application, 2017 - 2020, USD Million
TABLE 13 North America Insurance Analytics Market by Application, 2021 - 2027, USD Million
TABLE 14 North America Insurance Analytics Risk Management Market by Country, 2017 - 2020, USD Million
TABLE 15 North America Insurance Analytics Risk Management Market by Country, 2021 - 2027, USD Million
TABLE 16 North America Insurance Analytics Customer Management & Personalization Market by Country, 2017 - 2020, USD Million
TABLE 17 North America Insurance Analytics Customer Management & Personalization Market by Country, 2021 - 2027, USD Million
TABLE 18 North America Insurance Analytics Claim Management Market by Country, 2017 - 2020, USD Million
TABLE 19 North America Insurance Analytics Claim Management Market by Country, 2021 - 2027, USD Million
TABLE 20 North America Insurance Analytics Process Optimization Market by Country, 2017 - 2020, USD Million
TABLE 21 North America Insurance Analytics Process Optimization Market by Country, 2021 - 2027, USD Million
TABLE 22 North America Other Application Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 23 North America Other Application Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 24 North America Insurance Analytics Market by Deployment Type, 2017 - 2020, USD Million
TABLE 25 North America Insurance Analytics Market by Deployment Type, 2021 - 2027, USD Million
TABLE 26 North America On-premise Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 27 North America On-premise Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 28 North America Cloud Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 29 North America Cloud Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 30 North America Insurance Analytics Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 31 North America Insurance Analytics Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 32 North America Large Enterprises Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 33 North America Large Enterprises Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 34 North America Small & Medium Enterprises Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 35 North America Small & Medium Enterprises Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 36 North America Insurance Analytics Market by End User, 2017 - 2020, USD Million
TABLE 37 North America Insurance Analytics Market by End User, 2021 - 2027, USD Million
TABLE 38 North America Insurance Companies Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 39 North America Insurance Companies Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 40 North America Government Agencies Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 41 North America Government Agencies Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 42 North America Third-party Administrators, Brokers, & Consultancies Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 43 North America Third-party Administrators, Brokers, & Consultancies Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 44 North America Insurance Analytics Market by Country, 2017 - 2020, USD Million
TABLE 45 North America Insurance Analytics Market by Country, 2021 - 2027, USD Million
TABLE 46 US Insurance Analytics Market, 2017 - 2020, USD Million
TABLE 47 US Insurance Analytics Market, 2021 - 2027, USD Million
TABLE 48 US Insurance Analytics Market by Component, 2017 - 2020, USD Million
TABLE 49 US Insurance Analytics Market by Component, 2021 - 2027, USD Million
TABLE 50 US Insurance Analytics Market by Application, 2017 - 2020, USD Million
TABLE 51 US Insurance Analytics Market by Application, 2021 - 2027, USD Million
TABLE 52 US Insurance Analytics Market by Deployment Type, 2017 - 2020, USD Million
TABLE 53 US Insurance Analytics Market by Deployment Type, 2021 - 2027, USD Million
TABLE 54 US Insurance Analytics Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 55 US Insurance Analytics Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 56 US Insurance Analytics Market by End User, 2017 - 2020, USD Million
TABLE 57 US Insurance Analytics Market by End User, 2021 - 2027, USD Million
TABLE 58 Canada Insurance Analytics Market, 2017 - 2020, USD Million
TABLE 59 Canada Insurance Analytics Market, 2021 - 2027, USD Million
TABLE 60 Canada Insurance Analytics Market by Component, 2017 - 2020, USD Million
TABLE 61 Canada Insurance Analytics Market by Component, 2021 - 2027, USD Million
TABLE 62 Canada Insurance Analytics Market by Application, 2017 - 2020, USD Million
TABLE 63 Canada Insurance Analytics Market by Application, 2021 - 2027, USD Million
TABLE 64 Canada Insurance Analytics Market by Deployment Type, 2017 - 2020, USD Million
TABLE 65 Canada Insurance Analytics Market by Deployment Type, 2021 - 2027, USD Million
TABLE 66 Canada Insurance Analytics Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 67 Canada Insurance Analytics Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 68 Canada Insurance Analytics Market by End User, 2017 - 2020, USD Million
TABLE 69 Canada Insurance Analytics Market by End User, 2021 - 2027, USD Million
TABLE 70 Mexico Insurance Analytics Market, 2017 - 2020, USD Million
TABLE 71 Mexico Insurance Analytics Market, 2021 - 2027, USD Million
TABLE 72 Mexico Insurance Analytics Market by Component, 2017 - 2020, USD Million
TABLE 73 Mexico Insurance Analytics Market by Component, 2021 - 2027, USD Million
TABLE 74 Mexico Insurance Analytics Market by Application, 2017 - 2020, USD Million
TABLE 75 Mexico Insurance Analytics Market by Application, 2021 - 2027, USD Million
TABLE 76 Mexico Insurance Analytics Market by Deployment Type, 2017 - 2020, USD Million
TABLE 77 Mexico Insurance Analytics Market by Deployment Type, 2021 - 2027, USD Million
TABLE 78 Mexico Insurance Analytics Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 79 Mexico Insurance Analytics Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 80 Mexico Insurance Analytics Market by End User, 2017 - 2020, USD Million
TABLE 81 Mexico Insurance Analytics Market by End User, 2021 - 2027, USD Million
TABLE 82 Rest of North America Insurance Analytics Market, 2017 - 2020, USD Million
TABLE 83 Rest of North America Insurance Analytics Market, 2021 - 2027, USD Million
TABLE 84 Rest of North America Insurance Analytics Market by Component, 2017 - 2020, USD Million
TABLE 85 Rest of North America Insurance Analytics Market by Component, 2021 - 2027, USD Million
TABLE 86 Rest of North America Insurance Analytics Market by Application, 2017 - 2020, USD Million
TABLE 87 Rest of North America Insurance Analytics Market by Application, 2021 - 2027, USD Million
TABLE 88 Rest of North America Insurance Analytics Market by Deployment Type, 2017 - 2020, USD Million
TABLE 89 Rest of North America Insurance Analytics Market by Deployment Type, 2021 - 2027, USD Million
TABLE 90 Rest of North America Insurance Analytics Market by Enterprise Size, 2017 - 2020, USD Million
TABLE 91 Rest of North America Insurance Analytics Market by Enterprise Size, 2021 - 2027, USD Million
TABLE 92 Rest of North America Insurance Analytics Market by End User, 2017 - 2020, USD Million
TABLE 93 Rest of North America Insurance Analytics Market by End User, 2021 - 2027, USD Million
TABLE 94 Key information – IBM Corporation
TABLE 95 Key Information –Salesforce.com, Inc.
TABLE 96 Key Information – Oracle Corporation
TABLE 97 key information – Microsoft Corporation
TABLE 98 Key Information – SAP SE
TABLE 99 Key Information – OpenText Corporation
TABLE 100 Key Information – Pegasystems, Inc.
TABLE 101 Key Information – MicroStrategy, Inc.
TABLE 102 Key information – SAS Institute, Inc.
TABLE 103 key information – Roper Technologies, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2016-2020)
FIG 4 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2019, Jan – 2021, Mar) Leading Players
FIG 5 Recent strategies and developments: IBM Corporation
FIG 6 Swot analysis: IBM Corporation
FIG 7 Recent strategies and developments: Salesforce.com, Inc.
FIG 8 SWOT Analysis: Salesforce.com Inc.
FIG 9 SWOT analysis: Oracle Corporation
FIG 10 SWOT Analysis: Microsoft Corporation
FIG 11 SWOT Analysis: SAP SE
FIG 12 Recent strategies and developments: OpenText Corporation
FIG 13 Swot analysis: OpenText Corporation
FIG 14 Recent strategies and developments: Pegasystems, Inc.
FIG 15 SWOT Analysis: Pegasystems, Inc.
FIG 16 Swot analysis: microstrategy, Inc.
FIG 17 Recent strategies and developments: SAS Institute, Inc.
FIG 18 Recent strategies and developments: Roper Technologies, Inc.