Advance Market Analytics published a new research publication on “Life Insurance Platforms Market Insights, to 2027” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Life Insurance Platforms market was mainly driven by the increasing R&D spending across the world.
Some of the key players profiled in the study are:
Accenture (Ireland), TCS (India), IBM (United States), DXC (United States), SAP (Germany), Oracle (United States), Microsoft (United States), Infosys (India), Pegasystems (United States), Appian (United States), Cognizant (United States), Mindtree (India), Prima Solutions (France), Fineos (Ireland) and Bolt Solutions (United States).
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Scope of the Report of Life Insurance Platforms
An insurance platform is a collection of websites that give insurers and other organizations API access to a wide range of services, data, capabilities, and organizations. These websites are typically cloud-based, designed to scale through network effects, and monetized in various ways by the platform sponsor. The increasing acceptance of Internet of Things (IoT) devices, the shift in insurers’ focus from product-based to customer-centric strategies, and more awareness among insurers to digitalize channels are all contributing to this growth.
Market Leaders and their expansionary development strategies
On 14th October, Accenture has announced that Gartner, Inc. has recognized the Accenture Life Insurance & Annuity Platform (ALIP) in a new report, titled “Critical Capabilities for Life Insurance Policy Administration Systems, North America.” ALIP was among the top three vendors in the Individual/New Business Onboarding/Straight-through Processing, New Product Development/Launch, and Digital User Support Use Cases.
October 19, 2021: Tata Consultancy Services (TCS), a leading global IT service, consulting, and business solutions organization, has partnered with Heritage Life Insurance Company, a US-based provider of insurance and reinsurance services, to transform the customer experience for policyholders in the closed book of business it recently acquired.
The titled segments and sub-section of the market are illuminated below:
by Application (Term insurance, Whole life insurance, Group life insurance, Others), Component (Software, Service), End User (Insurance companies, Aggregators, Others)
Market Trend
Increased Awareness Among Insurers to Access A Broader Segment of the Market
Increased Awareness Among Insurers About Digital Channels
Market Drivers
Growing Adoption of IoT Products
The shift of Insurers’ Focus From Product-Based to Customer-Centric Strategies
Opportunities
Adoption of Cloud-Based Digital Solutions By Insurers to Obtain Higher Scalability
Restraints
Difficulty to Integrate Insurance Platforms With Legacy Systems
Challenges
Dearth in of Skilled Workforce
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa
Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.
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Strategic Points Covered in Table of Content of Global Life Insurance Platforms Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Life Insurance Platforms market
Chapter 2: Exclusive Summary – the basic information of the Life Insurance Platforms Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Life Insurance Platforms
Chapter 4: Presenting the Life Insurance Platforms Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country 2015-2020
Chapter 6: Evaluating the leading manufacturers of the Life Insurance Platforms market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2021-2027)
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
finally, Life Insurance Platforms Market is a valuable source of guidance for individuals and companies.
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