AMA Research & Media LLP’s comprehensive research report is titled “Artificial Intelligence (AI) in Insurance Market Insights, to 2028.”
The report, which spans 232 pages, presents emerging trends, drivers, restraints, and opportunities in the market. The growth of the AI in Insurance market has been primarily driven by increased investment in research and development across the globe.
The revealed data also highlights that the insurance sector is actively adopting new technologies to address significant customer pain points. Artificial intelligence (AI) plays a crucial role in helping insurers assess risk, detect fraud, and minimise human error in the application process.
It shows that by leveraging AI, insurers can streamline operations, reduce costs, enhance customer experience, and increase profitability.
The study profiles key players in the industry, including:
CCC Intelligent Solutions
Liberty Mutual Insurance
Insurify
Clearcover
Bold Penguin
Lemonade Insurance
Snapsheet
CAPE Analytics
Hi Marley
Gradient AI
Yembo
Nayya
ZestFinance
Flyreel
INSHUR
Afiniti.
AI driving insurance innovation
AI technology enables automation of labor-intensive processes, resulting in time and cost savings. Despite being a traditionally slow industry in adopting new technologies, the insurance sector is gradually embracing AI to adapt to global changes and stay competitive.
The report provides a detailed analysis of various market segments, including applications such as health insurance, automobile industry, property insurance sector, life insurance claims, commercial insurance, and others. It also examines the software types, organization sizes, and offerings in the AI in Insurance market, including hardware, software, and services.
Driving the market growth is the insurance industry’s recognition of the need to address customer pain points and the benefits of implementing AI in their processes. Insurers can achieve operational efficiency, improve customer satisfaction, and optimise profitability through the integration of AI technology.
The market report concludes by focusing on the transformative impact of AI on the insurance sector and the growing importance of innovation in the industry. With key players embracing AI solutions, the insurance market is set to experience significant advancements in the coming years.
Read the full report: [Link to the report]
