Global Artificial Intelligence (AI) in Insurance Market – Industry Trends and Forecast to 2030

Intelligence artificielle (IA) dans l'analyse et la taille du marché de l'assurance

L'intelligence artificielle (IA) a apporté un changement innovant dans la façon dont le secteur des assurances fonctionne au cours des dernières années. L'assurance était généralement associée à des réunions chronophages, au dépôt de demandes d'indemnisation compliquées, à une multitude de formalités administratives et à des mois d'attente pour une décision. L'intelligence artificielle (IA) dans le domaine des assurances a apporté une automatisation qui a continuellement rétabli la confiance des assureurs. De plus, l'automatisation des assurances, comme l'intelligence artificielle (IA), contribue à réduire les risques et la fraude, encourageant la croissance des entreprises et automatisant de nombreux processus commerciaux pour réduire les coûts globaux.

Data Bridge Market Research analyse que l'intelligence artificielle (IA) sur le marché de l'assurance était évaluée à 3,64 milliards USD en 2022 et devrait atteindre la valeur de 35,77 milliards USD d'ici 2030, à un TCAC de 33,06 % au cours de la période de prévision. En plus des informations sur le marché telles que la valeur marchande, le taux de croissance, les segments de marché, la couverture géographique, les acteurs du marché et le scénario du marché, le rapport de marché élaboré par l'équipe de Data Bridge Market Research comprend une analyse approfondie des experts, une analyse des importations/exportations, une analyse des prix, une analyse de la consommation de production et une analyse des pilonnages.

Intelligence artificielle (IA) dans le domaine et la segmentation du marché de l'assurance

Définition du marché

L’intelligence artificielle (IA) va révolutionner le secteur de l’assurance. Les technologies d’intelligence artificielle (IA) telles que la vision artificielle, le traitement du langage naturel (TLN), l’apprentissage automatique et l’apprentissage profond, ainsi que l’automatisation robotique, ont le potentiel de réinventer le cycle de vie global de l’assurance, de l’approvisionnement des clients au traitement des sinistres.

L'intelligence artificielle (IA) sur le marché de l'assurance

Conducteurs

• Utilisation croissante de l'intelligence artificielle (IA) dans les chatbots

L'intelligence artificielle (IA) dans le secteur des assurances a apporté un changement révolutionnaire au niveau du service client. Les chatbots sont le moyen le plus simple et le plus facile de démarrer le processus et de diffuser les informations au processus aligné suivant sans aucune intervention humaine. Cela rend le processus rapide, fluide et sans erreur. Les chatbots basés sur l'IA peuvent vendre des produits incitatifs et croisés en fonction de l'historique et du profil du client.

• Gestion et enquête sur les réclamations d'assurance

La régulation de toutes les procédures d'autorisation, d'approbation, de suivi des paiements, de saisie des données, de création des réclamations et de suivi du recouvrement par l'intelligence artificielle (IA) peut être associée à d'autres applications pour réorganiser le processus de détection des fraudes, économisant ainsi des coûts et du temps. L'intelligence artificielle dans les réclamations d'assurance peut réduire les coûts de traitement de 50 à 65 %, les prix de règlement des réclamations de 20 à 30 % et le temps de traitement de 50 à 90 % tout en améliorant l'expérience du service client.

Opportunités

• De nombreux avantages liés à l’intelligence artificielle (IA)

Artificial intelligence (AI) will increase critical insurance operations such as risk assessment, claims processing, asset management, and prevention. For instance, the image processing function of artificial intelligence (AI) in Insurance may be used to estimate property damage. This same machine may be utilized to make an educated choice on smart system expenditures. Thus, As a result of all these factors, the demand for the artificial intelligence (AI) increase, which will be expected to create immense market growth opportunities.

Restraints

• Issues  associated with artificial intelligence (AI) in insurance

Lack of technical knowledge coupled with increasing concern regarding cybersecurity and data privacy will likely act as major market restraints factor for the market's growth in the above mentioned projected time period. High risks related to security breaches and data leaks will become the biggest challenge for the market growth.

This artificial intelligence (AI) in insurance market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence (AI) in insurance market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Global Artificial intelligence (AI) in Insurance Market

The Covid-19 pandemic had a positive impact on the global artificial intelligence (AI) in insurance market, due to imposition of the global lockdown, as a result of this, numerous public, government and other artificial intelligence (AI) insurance organizations adopted work from home culture for their employees. Furthermore, with swift digital transformation, numerous governments introduced stringent regulations such as California Consumer Privacy Act (CCPA) and General Data Protection Regulation (GDPR) to protect end users' data. Therefore, governments in numerous nations have taken strict actions toward the personal information of policyholder, policy limit and coverage damages of COVID-19 regulations, and natural language processing technology. This is helping insurance companies scan their internal policies and claims documents to check their compliance with several regulatory policies. Furthermore, insurance companies are increasing services and product offerings to make them extensively available all over the globe. As a result, there is an increase in number of cloud-based client interaction, remote connection, software-as-a-service (SaaS) and fraud detection solutions during the pandemic. The trend is going to continue post-pandemic as well.

Global Artificial Intelligence (AI) in Insurance Market Scope

The artificial intelligence (AI) in insurance market is segmented on the basis of component, technology, deployment model, enterprises size, application and sector. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Hardware
• Software
• Services

Technology

• Machine Learning and Deep Learning
• Natural Language Processing (NLP)
• Machine Vision
• Robotic Automation

Deployment Model

• 0n-Premises
• Cloud

Enterprises Size

• Large Enterprises
• SMEs Enterprises

 Application

• Claims Management
• Risk Management and Compliance
• Chatbots
• Others

Sector

• Life Insurance
• Health Insurance
• Title Insurance
• Auto Insurance
• Others

Artificial Intelligence (AI) in Insurance Market Regional Analysis/Insights

The artificial intelligence (AI) in insurance market is analyzed and market size insights and trends are provided by country, component, technology, deployment model, enterprises size, application and sector as referenced above.

The countries covered in the artificial intelligence (AI) in insurance market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the artificial intelligence (AI) in insurance market in terms of revenue and market share due to the increasing adoption of new technologies to numerous AI solution providers in the region. 

Asia-Pacific will continue to project the highest compound annual growth rate during the forecast period of 2023-2030 due to the increasing government initiatives supporting digitalization. Moreover, growing investments on advanced technologies such as IoT and AI are raising the demand for AI across the insurance sector which will likely to enhance market growth within this region.

The country section of the report also provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.    

Competitive Landscape and Artificial Intelligence (AI) in Insurance Market Share Analysis

The artificial intelligence (AI) in insurance market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to artificial intelligence (AI) in insurance market.

Some of the major players operating in the artificial intelligence (AI) in insurance market are:

• Microsoft (U.S.)
• Infosys Limited (India)
• Tractable Ltd (U.S.)
• Insurify, Inc. (U.S.)
• Slice Insurance Technologies Inc., (U.S.)
• Google (U.S.)
• Oracle (U.S.)
• Amazon Web Services Inc. (U.S.)
• IBM (U.S.)
• Avaamo (U.S.)
• Cape Analytics (U.S.)
• Wipro (India)
• Acko General Insurance (India)
• Shift Technology (France)
• Quantemplate (U.K.)
• Zurich (Switzerland)
• Lemonade Insurance Agency, LLC  (U.S.)

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