ResearchMoz presents professional and in-depth study of "Big Data in the Insurance Industry: 2018 - 2030 - Opportunities, Challenges, Strategies & Forecasts".
“Big Data” originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Get Free PDF for more Professional and Technical insights @ https://www.researchmoz.us/enquiry.php?type=S&repid=1867484
Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The insurance industry is no exception to this trend, where Big Data has found a host of applications ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
SNS Telecom & IT estimates that Big Data investments in the insurance industry will account for more than $2.4 Billion in 2018 alone. Led by a plethora of business opportunities for insurers, reinsurers, insurance brokers, InsurTech specialists and other stakeholders, these investments are further expected to grow at a CAGR of approximately 14% over the next three years.
The “Big Data in the Insurance Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an in-depth assessment of Big Data in the insurance industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2018 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 8 application areas, 9 use cases, 6 regions and 35 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
Topics Covered
The report covers the following topics:
Big Data ecosystem
Market drivers and barriers
Enabling technologies, standardization and regulatory initiatives
Big Data analytics and implementation models
Business case, application areas and use cases in the insurance industry
20 case studies of Big Data investments by insurers, reinsurers, InsurTech specialists and other stakeholders in the insurance industry
Future roadmap and value chain
Profiles and strategies of over 270 leading and emerging Big Data ecosystem players
Strategic recommendations for Big Data vendors and insurance industry stakeholders
Market analysis and forecasts from 2018 till 2030
Forecast Segmentation
Market forecasts are provided for each of the following submarkets and their subcategories:
Hardware, Software & Professional Services
Hardware
Software
Professional Services
Horizontal Submarkets
Storage & Compute Infrastructure
Networking Infrastructure
Hadoop & Infrastructure Software
SQL
NoSQL
Analytic Platforms & Applications
Cloud Platforms
Professional Services
Application Areas
Auto Insurance
Property & Casualty Insurance
Life Insurance
Health Insurance
Multi-Line Insurance
Other Forms of Insurance
Reinsurance
Insurance Broking
Use Cases
Personalized & Targeted Marketing
Customer Service & Experience
Product Innovation & Development
Risk Awareness & Control
Policy Administration, Pricing & Underwriting
Claims Processing & Management
Fraud Detection & Prevention
Usage & Analytics-Based Insurance
Other Use Cases
Regional Markets
Asia Pacific
Eastern Europe
Latin & Central America
Middle East & Africa
North America
Western Europe
Country Markets
Argentina, Australia, Brazil, Canada, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Pakistan, Philippines, Poland, Qatar, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, UAE, UK, USA
Key Questions Answered
The report provides answers to the following key questions:
How big is the Big Data opportunity in the insurance industry?
How is the market evolving by segment and region?
What will the market size be in 2021, and at what rate will it grow?
What trends, challenges and barriers are influencing its growth?
Who are the key Big Data software, hardware and services vendors, and what are their strategies?
How much are insurers, reinsurers, InsurTech specialists and other stakeholders investing in Big Data?
What opportunities exist for Big Data analytics in the insurance industry?
Which countries, application areas and use cases will see the highest percentage of Big Data investments in the insurance industry?
Key Findings
The report has the following key findings:
In 2018, Big Data vendors will pocket more than $2.4 Billion from hardware, software and professional services revenues in the insurance industry. These investments are further expected to grow at a CAGR of approximately 14% over the next three years, eventually accounting for nearly $3.6 Billion by the end of 2021.
Through the use of Big Data technologies, insurers and other stakeholders are beginning to exploit their data assets in a number of innovative ways ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
The growing adoption of Big Data technologies has brought about an array of benefits for insurers and other stakeholders. Based on feedback from insurers worldwide, these include but are not limited to an increase in access to insurance services by more than 30%, a reduction in policy administration workload by up to 50%, prediction of large loss claims with an accuracy of nearly 80%, cost savings in claims processing and management by 40-70%, accelerated processing of non-emergency insurance claims by a staggering 90%; and improvements in fraud detection rates by as much as 60%.
In addition, Big Data technologies are playing a pivotal role in facilitating the adoption of on-demand insurance models – particularly in auto, life and health insurance, as well as the insurance of new and underinsured risks such as cyber crime.
List of Companies Mentioned
1010data
Absolutdata
Accenture
Actian Corporation
Adaptive Insights
Adobe Systems
Advizor Solutions
Aegon
AeroSpike
Aetna
AFS Technologies
Alation
Algorithmia
Allianz Group
Allstate Corporation
Alluxio
Alphabet
ALTEN
Alteryx
AMD (Advanced Micro Devices)
Anaconda
Apixio
Arcadia Data
Arimo
Arity
ARM
ASF (Apache Software Foundation)
Atidot
AtScale
Attivio
Attunity
Automated Insights
AVORA
AWS (Amazon Web Services)
AXA
Axiomatics
Ayasdi
BackOffice Associates
Basho Technologies
BCG (Boston Consulting Group)
Bedrock Data
BetterWorks
Big Panda
BigML
Birst
Bitam
Blue Medora
BlueData Software
BlueTalon
BMC Software
Make An Enquiry @ https://www.researchmoz.us/enquiry.php?type=E&repid=1867484
BOARD International
Booz Allen Hamilton
Boxever
CACI International
Cambridge Semantics
Cape Analytics
Capgemini
Cazena
Centrifuge Systems
CenturyLink
Chartio
China Life Insurance Company
Cigna
Cisco Systems
Civis Analytics
ClearStory Data
Cloudability
Continue...
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow me on : https://marketinfo247.wordpress.com/
“Big Data” originally emerged as a term to describe datasets whose size is beyond the ability of traditional databases to capture, store, manage and analyze. However, the scope of the term has significantly expanded over the years. Big Data not only refers to the data itself but also a set of technologies that capture, store, manage and analyze large and variable collections of data, to solve complex problems.
Get Free PDF for more Professional and Technical insights @ https://www.researchmoz.us/enquiry.php?type=S&repid=1867484
Amid the proliferation of real-time and historical data from sources such as connected devices, web, social media, sensors, log files and transactional applications, Big Data is rapidly gaining traction from a diverse range of vertical sectors. The insurance industry is no exception to this trend, where Big Data has found a host of applications ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
SNS Telecom & IT estimates that Big Data investments in the insurance industry will account for more than $2.4 Billion in 2018 alone. Led by a plethora of business opportunities for insurers, reinsurers, insurance brokers, InsurTech specialists and other stakeholders, these investments are further expected to grow at a CAGR of approximately 14% over the next three years.
The “Big Data in the Insurance Industry: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents an in-depth assessment of Big Data in the insurance industry including key market drivers, challenges, investment potential, application areas, use cases, future roadmap, value chain, case studies, vendor profiles and strategies. The report also presents market size forecasts for Big Data hardware, software and professional services investments from 2018 through to 2030. The forecasts are segmented for 8 horizontal submarkets, 8 application areas, 9 use cases, 6 regions and 35 countries.
The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.
Topics Covered
The report covers the following topics:
Big Data ecosystem
Market drivers and barriers
Enabling technologies, standardization and regulatory initiatives
Big Data analytics and implementation models
Business case, application areas and use cases in the insurance industry
20 case studies of Big Data investments by insurers, reinsurers, InsurTech specialists and other stakeholders in the insurance industry
Future roadmap and value chain
Profiles and strategies of over 270 leading and emerging Big Data ecosystem players
Strategic recommendations for Big Data vendors and insurance industry stakeholders
Market analysis and forecasts from 2018 till 2030
Forecast Segmentation
Market forecasts are provided for each of the following submarkets and their subcategories:
Hardware, Software & Professional Services
Hardware
Software
Professional Services
Horizontal Submarkets
Storage & Compute Infrastructure
Networking Infrastructure
Hadoop & Infrastructure Software
SQL
NoSQL
Analytic Platforms & Applications
Cloud Platforms
Professional Services
Application Areas
Auto Insurance
Property & Casualty Insurance
Life Insurance
Health Insurance
Multi-Line Insurance
Other Forms of Insurance
Reinsurance
Insurance Broking
Use Cases
Personalized & Targeted Marketing
Customer Service & Experience
Product Innovation & Development
Risk Awareness & Control
Policy Administration, Pricing & Underwriting
Claims Processing & Management
Fraud Detection & Prevention
Usage & Analytics-Based Insurance
Other Use Cases
Regional Markets
Asia Pacific
Eastern Europe
Latin & Central America
Middle East & Africa
North America
Western Europe
Country Markets
Argentina, Australia, Brazil, Canada, China, Czech Republic, Denmark, Finland, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, Norway, Pakistan, Philippines, Poland, Qatar, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Taiwan, Thailand, UAE, UK, USA
Key Questions Answered
The report provides answers to the following key questions:
How big is the Big Data opportunity in the insurance industry?
How is the market evolving by segment and region?
What will the market size be in 2021, and at what rate will it grow?
What trends, challenges and barriers are influencing its growth?
Who are the key Big Data software, hardware and services vendors, and what are their strategies?
How much are insurers, reinsurers, InsurTech specialists and other stakeholders investing in Big Data?
What opportunities exist for Big Data analytics in the insurance industry?
Which countries, application areas and use cases will see the highest percentage of Big Data investments in the insurance industry?
Key Findings
The report has the following key findings:
In 2018, Big Data vendors will pocket more than $2.4 Billion from hardware, software and professional services revenues in the insurance industry. These investments are further expected to grow at a CAGR of approximately 14% over the next three years, eventually accounting for nearly $3.6 Billion by the end of 2021.
Through the use of Big Data technologies, insurers and other stakeholders are beginning to exploit their data assets in a number of innovative ways ranging from targeted marketing and personalized products to usage-based insurance, efficient claims processing, proactive fraud detection and beyond.
The growing adoption of Big Data technologies has brought about an array of benefits for insurers and other stakeholders. Based on feedback from insurers worldwide, these include but are not limited to an increase in access to insurance services by more than 30%, a reduction in policy administration workload by up to 50%, prediction of large loss claims with an accuracy of nearly 80%, cost savings in claims processing and management by 40-70%, accelerated processing of non-emergency insurance claims by a staggering 90%; and improvements in fraud detection rates by as much as 60%.
In addition, Big Data technologies are playing a pivotal role in facilitating the adoption of on-demand insurance models – particularly in auto, life and health insurance, as well as the insurance of new and underinsured risks such as cyber crime.
List of Companies Mentioned
1010data
Absolutdata
Accenture
Actian Corporation
Adaptive Insights
Adobe Systems
Advizor Solutions
Aegon
AeroSpike
Aetna
AFS Technologies
Alation
Algorithmia
Allianz Group
Allstate Corporation
Alluxio
Alphabet
ALTEN
Alteryx
AMD (Advanced Micro Devices)
Anaconda
Apixio
Arcadia Data
Arimo
Arity
ARM
ASF (Apache Software Foundation)
Atidot
AtScale
Attivio
Attunity
Automated Insights
AVORA
AWS (Amazon Web Services)
AXA
Axiomatics
Ayasdi
BackOffice Associates
Basho Technologies
BCG (Boston Consulting Group)
Bedrock Data
BetterWorks
Big Panda
BigML
Birst
Bitam
Blue Medora
BlueData Software
BlueTalon
BMC Software
Make An Enquiry @ https://www.researchmoz.us/enquiry.php?type=E&repid=1867484
BOARD International
Booz Allen Hamilton
Boxever
CACI International
Cambridge Semantics
Cape Analytics
Capgemini
Cazena
Centrifuge Systems
CenturyLink
Chartio
China Life Insurance Company
Cigna
Cisco Systems
Civis Analytics
ClearStory Data
Cloudability
Continue...
For More Information Kindly Contact:
ResearchMoz
Mr. Nachiket Ghumare,
90 State Street, Albany NY, United States - 12207
Tel: +1-518-621-2074
USA-Canada Toll Free: 866-997-4948
Email: sales@researchmoz.us
Follow us on LinkedIn @ http://bit.ly/1TBmnVG
Follow me on : https://marketinfo247.wordpress.com/
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