close

Enter

Log in using OpenID

Internet of Things in Insurance Market Size

embed
Internet of Things in Insurance Market Size, Share, Trends, Growth, Export Value, Shipment
Internet of Things in Insurance Market Size,
Share, Trends, Growth, Export Value, Shipment
The Internet of Things is a network of devices, sensors, and services
which are used to connect, exchange information and communicate.
The Internet of Things is becoming popular in the insurance industry.
The insurance providers have adopted Internet of Things based
solutions in their core business solutions to improve its operational
efficiency. The Internet of Things technology is matured in the property
and casualty (P&C) insurances type. The Internet of Things technology
permits insurance companies for faster and quicker operations and to
take important data-driven decisions. Furthermore, there is no need to
for paperwork. It allows customers can to submit claims via mobile
apps. Connected devices such as biometrics and environmental sensors
help for calculation of risk and adjust policies
The driving factors for the Internet of Things in insurance market is
enhanced performance of insurance industry. The Internet of Things in
insurance helps to assess risk more accurately and to improve loss
controls. Moreover, it simplifies the contract process and offers quick
access to the process and smooth management. Additionally, in
healthcare end user, it provides free fitness trackers to control their
activities. However, extensive data is generated in the Internet of
Things in insurance, and it is very difficult for storage and
processing. The global Internet of Things in insurance can create
significant opportunities for providing better and more frequent
customer interactions such as through wearable devices
The global Internet of Things in insurance market can be categorized
based on insurance type, component, end user and region. In terms of
insurance type, the Internet of Things in insurance market can be
bifurcated into life and non-life. The non-life segment can be further
divided prosperity and causality (P&C), personal line, commercial,
cybersecurity, home and others (fire, travel, etc.). Based on component,
the Internet of Things in insurance market can be categorized into
software and services. The software component can be fragmented
into cloud and on-premise. The service component can be segmented
into consulting & auditing and installation & integration. The Internet
of Things in insurance market can be divided based on end users into
automotive, financials, IT and telecom, government, manufacturing,
retail, construction, consumer electronics and others (education,
transportation etc.).The automobile end user has the significant impact
on Internet of Things in insurance market. This is due to increasing
adoption of IoT-enabled devices in in-built sensors, global positioning
systems (GPS), and other detectors would increase the need for new
Internet of Things technology in the insurance industry to collect data
such as speed, braking etc.
Brochure With Latest Advancements and Application @
https://www.transparencymarketresearch.com/sample/sample.php?
flag=B&rep_id=54321
In terms of region, the global Internet of Things in insurance market can
be split into North America, South America, Europe, Asia Pacific, and
Middle East & Africa. North America is anticipated to dominate the
global Internet of Things in insurance market during the forecast period
due to the increase in the need for effective data backup software
solution in the region. The market in Europe is gaining traction due to
development in insurance industry. The Internet of Things in insurance
market in Asia Pacific is anticipated to expand at a substantial pace
during the forecast period due government support for IT infrastructure
and growth in foreign investment. In Asia Pacific region, Indian Internet
of Things in insurance market is estimated to grow at a significant rate
owing to improvement in economic indicators and growing disposable
income. In Middle East & Africa region, Saudi Arabia is estimated to
account for the high market share in 2018 owing to the strong
economy, high political stability, young population, and national
policies that emphasize economic diversification.
The key companies in the global Internet of Things in insurance market
offers usage-based insurance (UBI) applications and pay-as-you-go
business models. The companies operating in the global Internet of
Things in insurance market include Accenture PLC, Cisco Systems Inc.,
International Business Machines Corporation, Microsoft Corporation,
Oracle Corporation, SAP SE, Verisk Analytics, Inc., Zonoff Inc., Cognizant
Technology Solutions Corp., Lemonade Inc., Google LLC, LexisNexis
Group, Verisk Analytics, Inc. and Zonoff Inc.
Download Report TOC for in-depth analysis @
https://www.transparencymarketresearch.com/sample/sample.php?
flag=T&rep_id=54321
Author
Mayurideore
Mayurideore107   documents Email
Document
Category
Business and Leadership
Views
9
File Size
319 KB
Tags
size
1/--pages
Report inappropriate content