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(IT-NEWSWIRE.COM, September 17, 2015 ) Over the years, many insurance firms across Europe have become increasingly dependent on technology and Internet to run their business and drive revenue growth and this trend is expected to intensify further.
The insurance sector in European countries is likely to experience significant growth during the forecast period. However, it is dependent on the recovery from recent recessions and economic crises. This scenario varies from one country to another depending on the macroeconomic factors. Slow economic growth has pressurized insurers by challenging their investment strategy, existing business models and processes, product mixture, and operating structures. The existing business models have resulted in very low investment income and product margins. In order to receive greater investment benefits, investors are required to simplify their operations at reduced cost. Improving economic conditions in European countries are likely to increase motor and home sales, and will aid in stimulating business formation.
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Increased digitalization in European countries is expected to fuel the insurance market during the forecast period. It will help insurance companies reach customers in an efficient manner. Many larger insurance organizations are planning to invest in digital marketing to develop its business. In addition, advances in data analytics will benefit insurance companies in gaining meaningful insights. Insurers are likely to create a platform for receiving and storing these insights, which aids insurers in exploring opportunities. Benefits gained through analytics insights for insurers includes effective product design and pricing, agency management, reporting, and improved customer-targeting processes.
Market analysts forecast the insurance technology market in Europe to grow at a CAGR of 3.74% during 2014-2019.
Covered in this Report This report covers the overview of the insurance technology market in Europe. The report also includes the PEST analysis of the insurance market in Europe, insurance brokerage market in Europe, and the adoption of third platform technologies such as Cloud, Big Data, and others by the insurance firms.
New report, Insurance Technology Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes profile of key vendors operating in this market.
Key Vendors Accenture Agile Financial Technologies E&Y HP IBM Mphasis Oracle Steria
Other Prominent Vendors Amazon Web Service BSB Capgemini Cognizant Technology Solutions CSC FICO Genpact Google Informatica Netapp Polaris Rackspace Hosting Salesforce SAP Symantec TCS T-Systems Verizon Communications VMware Wipro
Market Driver Rationalization of Transaction Process For a full, detailed list, view our report
Market Challenge Reluctance to Change Legacy Systems For a full, detailed list, view our report
Market Trend Emergence of BaaS in Insurance Billing Operation For a full, detailed list, view our report
Key Questions Answered in this Report What will the market size be in 2019 and what will the growth rate be? What are the key market trends? What is driving this market? What are the challenges to market growth? Who are the key vendors in this market space? What are the market opportunities and threats faced by the key vendors? What are the strengths and weaknesses of the key vendors?
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Table Of Content
01. Executive Summary 02. List of Abbreviations 03. Scope of the Report 03.1 Market Overview 03.2 Product and Services Offerings 04. Market Research Methodology 04.1 Market Research Process 04.2 Research Methodology 05. Introduction 06. Market Landscape 06.1 Market overview 06.2 Customer Preference to Purchase Insurance Products in Europe 06.3 Distribution Channel for Insurance Products in Europe 06.4 Market Size and Forecast 06.5 PEST Analysis for Insurance Industry in Europe 06.5.1 Political 06.5.2 Economic 06.5.3 Social 06.5.4 Technological 06.6 Five forces analysis 07. Adoption of Third Platform Technologies 07.1 Cloud Computing 07.1.1 Overview 07.1.2 Cloud Computing in Insurance Technology Market in Europe 07.2 Big data and Analytics 07.2.1 Overview 07.2.2 Big Data in Insurance Technology Market in Europe 07.3 Social Media 07.3.1 Social Media in Insurance Technology Market in Europe 07.4 Mobility 07.4.1 Overview 07.4.2 Mobility in Insurance Technology Market in Europe 08. Insurance Brokerage Market in Europe 08.1.1 France 08.1.2 Germany 08.1.3 Italy 08.1.4 UK 08.2 Insurance Brokerage Value Chain Analysis
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