Authored By: Sarah
24 Sep 2023

Insurance Technology Market In Europe Growth Analysis | Akur8, Alan SA, and Anorak Technologies Ltd. are among significant contributors

Competitive Benchmarking and Forecasts for Market Players 2023-2027

The need for insurance due to natural hazards, government regulations on mandatory insurance coverage, and the increasing adoption of cloud-based solutions are changing the market dynamics of the Europe Insurance Technology Market. It is estimated to exhibit growth at a CAGR of 34.58% between 2022 and 2027. The size of the market is forecasted to increase by USD 14,523.99 million.

Market segmentation can be classified by type (solution and service), technology (cloud computing, IoT, big data and business analytics, blockchain, and others), and geography (UK, France, Germany, Italy, Rest of Europe).

Technavio's research report projects market's growth trajectory is traced through a detailed analysis of the prevalent market forces, trends, and drivers to provide growth projections and insights for the core companies in the market landscape.

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Europe Insurance Technology Market Analysis at a Glance

Core companies of the Europe Insurance Technology Market: When it comes to the core companies in the market landscape companies are implementing strategic alliances and service launches, to enhance their market presence across the region. Some of the prominent names in the market landscape are Charles Taylor Ltd., Descartes Underwriting SAS, Digital Fineprint Ltd., F2X Group Ltd., FRISS, Getsafe Digital GmbH, INZMO Europe GmbH, Majesco, Powszechny Zaklad Ubezpieczen Spolka Akcyjna Group, Qidenus Group GmbH, Qover SA, Quantemplate Technologies Inc. etc which comes with wide variety of offerings.

Companies like Akur8 offer insurance technology solutions such as the Risk module, Demand module, and Rate module. Our report includes qualitative and quantitative analyses of market leaders with a wider understanding of the business ecosystem. 

Technavio's research report provides insights into the top market players and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors market players must distinguish their product and service offerings through a clear and unique value proposition. Download our sample report for more insights.

Europe Insurance Technology Market: Highlights of the Market

  • The Insurance technology market in Europe is segmented by Type (Solution and Service) and Technology (Cloud computing, IoT, Big data and business analytics, Blockchain, and Others).
  • Europe led the market with 100% of the market growth set to originate from this region during the forecast period.
  • The increasing need for insurance across European countries due to rising natural hazards is one of the primary factors driving the growth of the insurance technology market in Europe. The report provides a detailed study of this and all the other drivers that will boost market growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals. 
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