Industry Background:
The Non-Life Insurance Platforms Market is made up of products that support the idea of a digital business technology platform by combining basic systems and important technologies that are focused on customers, partners, data, or objects. Non-life insurance is defined as a type of insurance that compensates the insured for losses sustained as a result of a specific financial event. Non-life insurance is also known as general insurance, property insurance, and casualty insurance. It can be defined as any type of insurance that isn't life insurance. A non-life insurance policy covers people, legal responsibilities, and property.This growth is primarily driven by The growing Insurance industry across the Globe and The Rising Number of Digital Solutions.
Globally, a noticeable market trend is evident The High Demand for cloud Based Solutions
. The Internet Software & Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Tia Technology (Denmark), SAP (Germany), Duck Creek (United States), Adacta Group (Slovenia), Keylane (Netherlands), Fadata (Munich), Guidewire (United States), Prima Solutions (United States), Sequel Business Solutions (England) and MSG systems (Germany) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 13th April 2021, SAP SE and investment company Dediq GmbH has announced that they have agreed to enter into a partnership in the area of financial services. To better serve the rapidly changing banking and insurance industry, the two companies will jointly expand SAP’s financial services portfolio with a significant investment in new solutions.
On 12th February 2020, Verisk, a leading data analytics provider, and Duck Creek Technologies, a leading provider of core system solutions for the property/casualty insurance industry, announced today additional Verisk underwriting solutions, available on Duck Creek’s Content Exchange, that will enable insurer customers to easily access robust data on applicants’ previous coverage and loss history.
Market Drivers
- The growing Insurance industry across the Globe
- The Rising Number of Digital Solutions
Market Trend
- The High Demand for cloud Based Solutions
- Rise in adoption of insurance services in developing countries and by companies in order to enhance their productivity
Restraints
- The Technological Complexities in the Solutions
Opportunities
Technological Advancement and Innovation in the Insurance Solutions in the Developing Countries and High Demand from the Developing Countries
Challenges
Lack of awareness and skilled workforce to utilize insurance software
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Non-Life-Insurance Platforms Study Sheds Light on
The Non-Life-Insurance Platforms Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Non-Life-Insurance Platforms industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Non-Life-Insurance Platforms industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.