Property and casualty (P/C) insurers are separate financial entities, but there are just a few key distinctions when it comes to the influence of technology on the sector. P/C insurance is distinguished by three distinct characteristics: the nature of the product, the nature of the distribution channels, and the nature of the market. The product's characteristics are as follows: The product is complicated in and of itself. An insurance policy, unlike a television, vehicle, or book, is an intangible commodity that symbolises a promise to pay. This has significant consequences for how it is offered, because policyholders find it difficult to evaluate goods and providers, and they have less product expertise (asymmetric information) than insurers and brokers. Property and casualty insurance software provides solutions for managing contact information, processes, and marketing efforts for property and casualty insurance companies.
The P and C Insurance Software market study is segmented and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global P and C Insurance Software market throughout the predicted period.
Jenesis Software (United States), VRC Insurance Systems (United States), Insurance Systems (Canada), Tigerlab (Malaysia), Owsy LLC (United States), Adaptik Corporation (United States), InsureCert Systems Inc. (Canada), Zywave (United States), Guidewire Software (United States) and Quick Silver Systems (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are OneShield inc. (United Kingdom), WaterStreet Company (United States), Gryphon Networks (United States), Silvervine Inc. (United States), Agency Software, Inc. (United States) and ELEMENT Insurance AG (Germany).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global P and C Insurance Software market by Type, Application and Region.
On the basis of geography, the market of P and C Insurance Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 7th February, 2018 - Sapiens Acquired Adaptik (North America Based P&C Solution Provider). Sapiens Will Be Able to Provide an Upgraded Platform to North American Property and Casualty (P&C) Carriers as A Result of The Acquisition, Which Will Boost Sapiens' Competitive Position and Market Share.
On 1st November, 2019 - Guidewire Announced 2019.2 Release of P&C Insurance Industry Platform to Enhance Experiences for Policyholders, Agents, and Insurer Staff. This latest Version Adds to Insurers' Ability To, Leverage Data in Innovative Ways, Innovate Quickly, And Simplify IT Processes.
P & C Insurance Software Providers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
Key Highlights of Report
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