The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Cloud computing adoption is projected to drive the growth of the digital insurance platform market in the future.

The global digital insurance platform market is expected to grow $109.86 billion in 2022 to $124.43 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The digital insurance platform market size is expected to reach $202.66 billion in 2027 at a CAGR of 13%.

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Global Digital Insurance Platform Market Segments Include:

• By Deployment: Cloud, On-Premise
• By Professional Service: Consulting, Implementation, Support And Maintenance
• By Organization Size: Large Enterprises, Small And Medium Enterprises
• By Application: Automotive And Transportation, Home And Commercial Buildings, Life And Health, Business And Enterprise, Consumer Electronics, Industrial Machines, Travel
• By End-User: Insurance Companies, Third-Party Administrators And Brokers, Aggregators
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global digital insurance platform market in 2021.

Major Market Players in the digital insurance platform market include International Business Machines Corporation, Microsoft Corp., Infosys Ltd., Pegasystems Inc., Oracle Corp., Accenture Inc., Tata Consultancy Services Limited.

Technological developments are a prominent trend in the digital insurance platform market. To maintain their market position, major players in the digital insurance platform industry are embracing new technology. For example, in August 2021, Mosaic Insurance, a Canada-based insurance company that provides a digital operating model, and DXC Technology Company, a US-based IT service company, jointly launched an innovative new insurance technology platform that accelerates the sale, underwriting, and servicing of specialty insurance. The new platform is powered by DXC technology services such as DXC Assure for commercial and speciality, business process outsourcing, apps, analytics and engineering, cloud, and security. The publication of the model represents a significant improvement in the global insurance market, as it incorporates best practises in insurance processing.

The Digital Insurance Platform Global Market Report 2023  provides a digital insurance platform market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The digital insurance platform market forecast analyzes digital insurance platform market size, digital insurance platform market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A digital insurance platform is an insurance company that leverages technology to provide consumers with effective and personalised insurance solutions by reducing internal operations. It provides a more efficient and personalised experience for consumers, increases productivity, reduces costs, and increases customer pleasure, all of which help insurers achieve a competitive advantage.

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