Global Automotive Usage-Based Insurance Market | Use of Smartphone-enabled Programs to Boost the Market Growth

The global automotive usage-based insurance market size is poised to grow by 37.25 million units during 2020-2024, progressing at a CAGR of almost 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Automotive Usage-Based Insurance Market 2020-2024 (Graphic: Business Wire)

The growth in smartphone-enabled programs and their usage will be a significant factor driving the growth of the automotive usage-based insurance market. Automotive OEMs are increasingly collaborating with smartphone and tablet manufacturers to provide in-vehicle products and services.

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Insurance Technology (InsurTech) Key Market to Set New Growth

Insurance Technology (InsurTech) Key Market

The ‘ Insurance Technology (InsurTech) Key market’ research report added by Report Ocean, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides market overview, Insurance Technology (InsurTech) Key market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Insurance Technology (InsurTech) Key market size forecast, market data & Graphs and Statistics, Tables, Bar & Pie Charts, and many more for business intelligence.

Global Insurance Technology (InsurTech) Key Market valued approximately USD XX million in 2017 is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2025.In-depth information by Market Size, competitive landscape is provided i.e. Revenue (Million USD) by Players (2014-2019), Revenue Market Share (%) by Players (2014-2019)

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Economist evaluated Swiss unemployment insurance data — ScienceDaily

Everyone has to call in sick at work at some point. With caseworkers at the employment office, however, a sudden absence has direct economic consequences for a third party: The people they support are unemployed on average five percent longer if a meeting is canceled, which corresponds to a period of twelve days. This may sound rather trivial, but it can entail considerable costs for both the welfare state and the individual concerned.

Amelie Schiprowski, economist of the Cluster of Excellence ECONtribute at the Universities of Cologne and Bonn (Germany), evaluated Swiss unemployment insurance data from 2010 to 2012 and investigated how much the personal interaction with caseworkers matters for unemployed individuals. She found out: The duration of unemployment depends to a large extent on how reliable and committed the support provided by the employment office is.

Regular support important for reintegration

Caseworkers at the employment office help to reintegrate

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Universal Sompo General Insurance Company Limited Onboards Dr. (Ms.) Puneet Kaur Kohli as Chief Technology Officer

MUMBAI, India, Oct. 8, 2020 /PRNewswire/ — Dr. (MS.) Puneet Kaur Kohli has been appointed as Chief Technology Officer of Universal Sompo General Insurance Company Limited w.e.f. 5th October 2020. She brings over 23 years of extensive experience in Information Technology across esteemed organisations.

Prior to joining Universal Sompo, Dr. (Ms.) Puneet Kaur Kohli had worked with Manappuram Finance Limited as Group Chief Information and Technology Officer. In her career of 24 years, Dr. Kaur has worked in various leadership roles and was associated with Bajaj Cap, Motricity, Bharti Airtel. She has worked internationally in countries including USA, UK, Canada, Dubai and across APAC.

Dr. Kaur is a qualified Research Doctorate-Excellence Management. She has done her MBA in Information Systems from FMS Delhi & B.Tech from Delhi College of Engineering.

Dr. Kaur won the business transformation leaders award from TechCircle for 2020, NBFC Tech 100 award for

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How is Technology Changing the Insurance Industry?

Technology is increasingly changing the way insurers operate.

FREMONT, CA: The insurance industry is modernizing itself by equipping its arsenal with a large array of innovations. Technology has been transforming almost every dimension in the world, and insurance is certainly not an exception. The expectations of insurance customers are evolving continuously. In addition to this, the requirements of the high tech infrastructure and the operational ecosystem are also shifting in accordance with the modern days and demands. This is where new and advanced conceptualizations and features of technology gain an increased amount of importance.

The new technological integrations with the paradigm of insurance is enabling the industry to move its business culture and operational strategies towards a customer-centric ground. This further would help the insurance industry in achieving a better and bigger value of operational excellence. Technologies such as AI and IoT are providing insurance companies with automation features. Processes

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Digital Insurance Platform Market to Have A Promising Future Ahead!

The MarketWatch News Department was not involved in the creation of this content.

Sep 29, 2020 (AmericaNewsHour) —
Global Digital Insurance Platform Market was valued at USD 84.2 Billion in the year 2017. Global Digital Insurance Platform Market is further estimated to grow at a CAGR of 14.3% from 2019 to reach USD 243.8 Billion by the year 2025. North America region holds the highest Market share in 2017 and Asia-Pacific is considered as the fastest growing Market in the forecasted period. At a country level, the U.S is projected to grow strongly in the coming years.

Major market players in Digital Insurance Platform Market are SAP Inc., International Business Machines Corporation (IBM), Accenture, Microsoft Corp., Cognizant, Oracle Corp., Tata Consultancy Services Ltd, DXC Technology Company, Pegasystems Inc., Infosys Ltd, and brief overview of 9 companies is also provided in the report. Rising research and development expenses cater to changing

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Tokio Marine Indonesia Implements Shift Technology To Fight Auto Insurance Fraud

Shift’s Force Fraud Detection Solution to Support Insurer’s Overall Fraud Fighting Initiatives

PARIS and BOSTON, Sept. 29, 2020 /PRNewswire/ — Shift Technology, a provider of AI-native fraud detection and claims automation solutions for the global insurance industry, today announced that PT Asuransi Tokio Marine Indonesia (“Tokio Marine Indonesia”) has deployed Shift Technology’s Force fraud detection solution. As a result, the technology will become a crucial element in the insurance carrier’s overarching fraud prevention strategy.   

Shift Technology (PRNewsfoto/Shift Technology)
Shift Technology (PRNewsfoto/Shift Technology)

Tokio Marine Indonesia is one of the largest general insurers in the country. Guided by its core mission “To be a Good Company” and driven by values that put customer satisfaction as a main priority, the insurer was seeking a solution that could serve a dual purpose and not only spot suspicious claims, but also help give claims professionals more confidence in rapidly processing legitimate claims. Utilising this technology benefits the

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Lemonade Is An Interesting Technology Play In The Insurance Industry (NYSE:LMND)

Lemonade (LMND) is a pioneer of the rapidly growing insurtech industry. The company is leveraging technology to improve efficiencies and reduce bureaucracy in insurance. Lemonade, which is built upon an entirely digital substrate, is looking to upend the traditional insurance industry with the use of bots and machine learning.

Changing the Insurance Paradigm

Technology is having an increasingly large influence on the insurance industry. Lemonade is capitalizing on this trend and attempting to completely upending the traditional insurance business model. Although the traditional insurance industry has long been resistant to rapid technological change, this is likely to change.

The emergence of AI and increasingly powerful computer technologies has the potential to change the paradigm of insurance. Lemonade is one of the first insurance companies to successfully use AI and machine learning as a basis for their business model. This relatively new approach to insurance could dramatically change the landscape of

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Minneapolis-based health insurance company raises another $500M, bringing total to $1.5B

Minneapolis-based Bright Health has raised $500 million in another round of venture capital fundraising that will help expand its geographic reach and add additional services, it said on Tuesday.

The consumer-focused health care and technology company picked up new investors in the latest round and has now raised more than $1.5 billion from venture capital firms since 2016.

The insurer had 60,000 customers at the end of September 2019. It said in January that it would grow to at least 200,000 members this year.

New York-based investment firms Tiger Global Management, Blackstone and Baltimore, Md-based T. Rowe Price are new participants in Bright Health’s latest fundraising. Prior investors NEA, Bessemer Venture Partners and Greenspring Associates also participated in the latest round.

“NEA has backed Bright Health from the very beginning, and we are privileged to continue helping the team transform how health care is delivered and paid for in this

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Life Insurance Industry Invests In Cognitive Health To Tackle The Future Of Aging

REDWOOD CITY, Calif., Sept. 21, 2020 /PRNewswire/ — World Alzheimer’s Day – As populations continue to age globally, life insurance companies and their customers have been increasingly affected by the rising numbers of Alzheimer’s disease. To prepare for future aging populations and how to best serve them, insurers are investing for the first time in digital assessment technologies that will enable policyholders to manage and track their cognitive health. An announcement today by Neurotrack, a digital health company, and Hannover Life Reassurance Company of America (Hannover Re US), a member of Hannover Re Group, the third largest reinsurance group in the world, signals how the industry is turning to digital technology to benefit insurers and policyholders by changing the future of aging. 

Neurotrack is announcing a partnership with Hannover Re US to offer Neurotrack’s clinically-validated cognitive health program to the life insurance market for use by their policyholders.

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