AI in Insurance Market : Increase in investment by insurance companies in AI and machine learning

EIN Presswire

AI in Insurance Market : Increase in investment by insurance companies in AI and machine learning

PORTLAND , OR, USA, UNITED STATES, November 1, 2022 /EINPresswire.com/ -- AI in Insurance Market by Offering (Hardware, Software, Service), by Deployment Model (On-premise, Cloud), by Technology (Machine Learning, Natural Language Processing, Computer Vision, Others), by Enterprise Size (Large Enterprises, SMEs), by End-user (Life and Health Insurance, Property and Casualty Insurance), by Application (Fraud Detection and Credit Analysis, Customer Profiling and Segmentation, Product and Policy Design, Underwriting and Claims Assessment): Global Opportunity Analysis and Industry Forecast, 2021-2031. According to a new report published by Allied Market Research, titled, “AI in Insurance Market,” The ai in insurance market was valued at $2.74 billion in 2021, and is estimated to reach $45.74 billion by 2031, growing at a CAGR of 32.56% from 2022 to 2031.

Top Impacting Factors

Increase in investment by insurance companies in AI and machine learning
Rise in preference for personalized insurance services

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The report covers a detailed analysis of the impact of the Covid-19 pandemic on the market. The prolonged lockdown across the world and stringent restrictions on international trade have a significant impact on the global ai in insurance market. The Covid-19 pandemic resulted in a disrupted supply chain and value. Moreover, the pandemic increased the prices of raw materials and created a shortage of skilled workforce. The report provides consumer preferences, trends, and budget impact on the market owing to the Covid-19 pandemic.

AI in Insurance Market Report Highlights

Offering

Hardware
Software
Service
Deployment Model

On-premise
Cloud
Technology

Machine Learning
Natural Language Processing
Computer Vision
Others
Enterprise Size

Large Enterprises
SMEs
Application

Fraud Detection and Credit Analysis
Customer Profiling and Segmentation
Product and Policy Design
Underwriting and Claims Assessment
End User

Life and Health Insurance
Property and Casualty Insurance
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https://www.slideshare.net/abolip1/ai-in-insurance-market-to-reach-4574-billion-globally-by-2031-at-325-cagr-allied-market-research

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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