Software Leaders Guidewire, Accenture & Socotra are Driving Growth in Insurtech, says Report
Software Leaders Guidewire, Accenture & Socotra are Driving Growth in Insurtech, says Report
The global insurance suites software market is expected to see significant growth in the coming years, according to a recent research study by AMA Research, and this is being driven by industry leaders, including Guidewire, Socotra and Accenture.

The report analysed key and emerging industry players and delivered insight into the current market development, landscape, technologies, drivers, opportunities, market viewpoint and status.

The report highlighted several major companies including Applied Systems Inc., Britecore, Guidewire Software, VRC Insurance Systems, Accenture, CodeObjects Inc., Insurity LLC, LexisNexis, Sapiens International Corporation, Socotra Inc., DXC Technology, Insuresoft, and Duck Creek Technologies.

Insurance suite software is an important component of the increasingly competitive insurance industry. The software solutions help promote optimised insurance operations with insights derived from customers and agents, empowering employees and customers to respond and adapt to market change.

R&D is driving growth opportunities, says AMA Research data

The study identified increasing technological advancement and investment in R&D by established key players as significant opportunities for growth in the market. However, challenges included lack of awareness about the benefits associated with insurance suites software and a lack of technical expertise.

The report analysed the market by type, application, service, and organisation size, and included regions such as North America, Europe, Asia Pacific, Oceania, South America, and the Middle East & Africa. Country-level breakups were also included.

The Insurance Suites Software Market report is a valuable source of guidance for individuals and companies.

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