AI in Auto Insurance Market to Grow at a CAGR of 20.5% Through 2027 – Ant Financial Services Group, CCC Information Services, Claim Genius, Clearcover, GEICO, ICICI Lombard, Microsoft, Nauto and Solaria Labs
Worldwide AI in Auto Insurance Market Analysis to 2027 is a specialized and in-depth study of the AI in Auto Insurance Industry with a focus on the global market trend. The report aims to provide an overview of global AI in Auto Insurance Market with detailed market segmentation by product/application and geography. The global AI in Auto Insurance Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the AI in Auto Insurance players and offers key trends and opportunities in the market.
AI in Auto Insurance market was valued at US$ 1.0 Bn in 2018 and is expected to reach US$ 5.5 Bn by 2027 with a CAGR growth rate of 20.5% in the forecast period from 2019 to 2027.
Get PDF Sample Copy of this Report @ https://www.theinsightpartners.com/sample/TIPRE00006900
Artificial intelligence is transforming the face of every industry worldwide owing to its revolutionary capabilities that could substantially affect the performance of a business. In the past few years, banking, financial services, and insurance (BFSI) sector has been one of the largest adopter of artificial intelligence technology. The volume of data generated through various endpoints and mobile devices in the insurance sector is growing at a significant rate. This data presents a massive opportunity for insurance companies to gain insights about their customers and various business aspects.
Automotive insurance contributes a substantial share in the global insurance industry and it is going through an evolving & challenging phase owing to the integration of advanced technologies in various business processes. Some of the major use cases of artificial intelligence in the insurance industry include chatbots, voicebots, claim assessment, risk assessment, fraud prevention, and policy pricing among many others.
Top Leading Market Players:
- Ant Financial Services Group
- CCC Information Services Inc.
- Claim Genius
- Clearcover, Inc.
- GEICO Corporation
- ICICI Lombard
- Microsoft Corporation
- Nauto
- Progressive Casualty Insurance Company
- Solaria Labs
In the past few years, the integration of artificial intelligence and its applications such as machine learning and deep learning have been growing tremendously in various industry verticals. AI is being utilized extensively in the BFSI sector for applications such as chatbots, voicebots, claim assessment, risk assessment, and fraud prevention among many others. With increasing use cases of AI and the evolving insurance market landscape, the growth of AI in auto insurance industry is anticipated to grow at a substantial rate during the forecast period of 2019 to 2027. The growth potential of AI in the auto insurance industry is driving the entry of a large number of startups with innovative solutions in this industry.
The AI in auto insurance market by offerings is segmented by usage-based insurance, on-demand insurance, and peer-to-peer insurance. The AI stimulates savings for the community of parties including brokers and policyholders and insurance carriers, plugging into existing transformations inside the insurance industry. Cuvva, Trov, and Metromile are some of the companies which are responsible to tackle the complete insurance buying process. The usage-based insurance segment led the AI in auto insurance market, by offerings in 2018.
The global AI in auto insurance market has been segmented on the basis of application into claims assessment, policy pricing, and chatbots. High penetration of internet capabilities has resulted in the development of advanced technologies to save both the time and cost of the parties. The claims assessment led the AI in auto insurance market by application in 2018.
Make an Enquiry of report for Discount @ https://www.theinsightpartners.com/discount/TIPRE00006900
Reasons to Buy the Report :
- Learn about the driving factors, affecting the market growth.
- Imbibe the advancements and progress in the market during the forecast period.
- Understand where the market opportunities lies.
- Compare and evaluate various options affecting the market.
- Pick up on the leading market players within the market.
- Envision the restrictions and restrains that are likely to hamper the market.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
Contact Us:
The Insight partners,
Phone: +1-646-491-9876
Email: [email protected]
