Insurtech Growth Consulting Services
Insurtechs utilize technology to innovate & transform insurance markets. A majority of the life and health insurtechs do not provide life or health insurance policies themselves; instead, they offer technology solutions that drive growth and efficiency.
Hardware, software and analytics are utilized by insurance carriers, other insurtechs and brokers to support underwriting, advertising, distribution, pricing and claims processing endeavors.
A number of Insurtech companies improve operations. As an example, our client Snapsheet, brings virtual appraisal technology and claim management software to clients around the world.
In a survey by Bain, they found 386 tech providers offering 927 solutions along the insurance value chain. Most of these firms offer marketing and distribution platforms and simplified customer interfaces (60%), and some sell hardware/software for streamlining claims processing (40%). Additionally, about 20% of surveyed companies provide analytics for product development and pricing.
SaaS + Tech Shows
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The global insurtech market size is predicted to garner a revenue of $57,934.0 million in the 2021–2028 timeframe, growing from $7,841.0 million in 2020, at a healthy CAGR of 29.1%.