AI in Auto Insurance Market Share, Size | Statistics Report 2027
[Research Report] The AI in auto insurance market accounted to US$ 1,047.56 Mn in 2018, it is anticipated to grow at a CAGR of 20.5% during the forecast period of 2019 to 2027.
The increasing penetration of cloud based AI solutions over on-premise solutions for various business functions is anticipated to drive the growth of artificial intelligence applications in the automotive insurance industry. The on-premise artificial intelligence solutions are sometime complex, expensive and difficult to build in-house by enterprises. Not every mid-size or to some extent even the large enterprise finds it feasible to invest in in-house development and deployment of artificial intelligence technology owing to the huge infrastructure and technical expertise requirements.
The advanced features and evolving architectures of today’s cloud platforms are propelling the adoption of cloud based solutions in every industry vertical including insurance. Low initial investment, sophisticated cloud & hosting models, advanced features, and on-demand variations are some of the major factors that are driving the adoption of cloud solutions in insurance companies. The investment is cloud solutions does not only help companies in scaling up the operations but also lead to enhanced cost and productivity control. In addition to these factors, the business requirements of each organization is different and hence, they require customized solutions and using cloud based solutions for these specific needs is considered as the best business model for most companies worldwide. All these factors are anticipated to drive the demand for cloud based artificial intelligence solutions in the automotive insurance market during the forecast period of 2019 to 2027.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AI in Auto Insurance Market: Strategic Insights
Market Size Value in US$ 1,047.56 Million in 2018 Market Size Value by US$ 5,460.88 Million by 2027 Growth rate CAGR of 20.5% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
AI in Auto Insurance Market: Strategic Insights
| Market Size Value in | US$ 1,047.56 Million in 2018 |
| Market Size Value by | US$ 5,460.88 Million by 2027 |
| Growth rate | CAGR of 20.5% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Insights
Latest trends and applications of artificial intelligence to drive the future growth
The global auto industry is going through a shift with technological advancements happening in the electric vehicle and autonomous vehicle sector. With increasing safety features and driverless technology, it is anticipated that the auto insurance industry may shrink substantially in the coming years. The auto insurance industry contributes a large chunk to the global insurance industry and it is crucial for auto insurance companies to focus on product and service innovations in order to sustain profits during the forecast period of 2019 to 2027. There are few technology trends where AI can help insurance companies and brokers make profits by integrating technology in their present product and service portfolio. Some of these major trends include behavioral policy pricing, personalization of customer experience & coverage, and customized claim settlement. With increasing number of IoT (internet of Things) enabled devices with various among customers, the opportunity to offer personalized services is growing at a fast pace. Behavioral policy pricing make use of personal data collected by these IoT sensors in pricing platforms. This gives advantage to drivers who follow safety instructions as they have to pay less for auto insurance, this is also known as usage-based insurance. With the help of chatbots, artificial intelligence also offers a seamless buying experience to customers based on the data related to their geographic location, social media, online purchases and other factors. Customized coverage or on-demand insurance is another benefit through which customers get custom coverage for some specific events/items. With the help of virtual claim adjusters and online interfaces, artificial intelligence helps customers in settling the claims faster and efficiently. All these advantages of artificial intelligence also help in reducing the fraud incidents. Hence, with various features and upcoming applications of artificial intelligence in the auto insurance industry, the AI in auto insurance market is anticipated see tremendous growth during the forecast period of 2019 to 2027.
Offering Market Insights
The AI in auto insurance market by offerings is segmented by usage based insurance, on-demand insurance, and peer-to-peer insurance. The AI stimulate savings for community of parties including brokers and policyholders and insurance carriers, plugging into existing transformations inside the insurance industry. Cuvva, Trov, and Metromile are some of the companies which are responsible to tackle complete insurance buying process.
AI in Auto Insurance Market Report Scope
Application Market Insight
The global AI in auto insurance market has been segmented on the basis of application into claims assessment, policy pricing, and chatbots. High penetration of internet capabilities has resulted into the development of advanced technologies to save both time and cost of the parties.
AI inside the Insurance industry has overtaken the traditional claims management process by making it quicker and better with minimal errors. The new claims management process supports insurers to achieve far better claims management by optimizing technology in the best manner. The innovative claims assessment process facilitates real-time question & answer service for first notice, pre-assess claims while automating damage evaluation process, predicting the patterns of claim volume, automating claims fraud detection with the help of rich data analytics, and augmenting loss analysis. Adoption of AI and machine learning in the claim management process has the potential to benefit both insurer and insurance company to significant save processing cost and time with a remarkable increase in service quality.
Global AI in Auto Insurance Segments:
AI in Auto Insurance Market – By Offerings
- Usage Based Insurance
- On-Demand Insurance
- Peer-to-peer Insurance
AI in Auto Insurance Market – By Application
- Claims Assessment
- Chatbots
- Policy Pricing
AI in Auto Insurance Market – By Geography
North America
- U.S.
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
Asia Pacific (APAC)
- Australia
- China
- India
- Japan
- Rest of APAC
Middle East & Africa (MEA)
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
South America (SAM)
- Brazil
- Rest of SAM
Companies
- Ant Financial Services Group Co., Ltd.
- CCC Information Services Inc.
- Claim Genius Inc.
- Clearcover, Inc.
- Microsoft Corporation
- GEICO
- ICICI Lombard General Insurance Company Limited.
- Nauto, Inc.
- Solaria Labs (Liberty Mutual Insurance)
- The Progressive Corporation
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offerings ; Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global AI in Auto Insurance Market – By Offerings
1.3.2 Global AI in Auto Insurance Market – By Application
1.3.3 Global AI in Auto Insurance Market – By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. AI in Auto Insurance - Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Ecosystem Analysis
5. AI in Auto Insurance Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing number of successful artificial intelligence use cases in the auto insurance industry
5.1.2 Rising influx of innovative AI start-ups to boost the growth
5.2 Key Market Restraints
5.2.1 Privacy and data security concerns
5.2.2 Lack of cloud infrastructure and skilled manpower in developing countries
5.3 Key Market Opportunity
5.3.1 Growing preference for cloud-based AI solutions among businesses
5.4 Future Trend
5.4.1 Latest trends and applications of artificial intelligence to drive the future growth
5.5 Impact Analysis of Drivers and Restraints
6. AI in Auto Insurance Market– Global Analysis
6.1 Global AI in Auto Insurance Market Overview
6.2 Global AI in Auto Insurance Market Revenue and Forecasts To 2027 (US$ Mn)
6.3 Market Positioning- Top Five Players
7. AI in Auto Insurance Market – By Offerings
7.1 Overview
7.2 AI in Auto Insurance Market Breakdown, By Offerings, 2018 & 2027
7.3 Usage Based Insurance
7.3.1 Overview
7.3.2 Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 On-Demand Insurance
7.4.1 Overview
7.4.2 On-Demand Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 Peer-to-peer Insurance
7.5.1 Overview
7.5.2 Peer-to-peer Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
8. AI in Auto Insurance Market Analysis – By Application
8.1 Overview
8.2 AI in Auto Insurance Market Breakdown, By Application, 2018 & 2027
8.3 Claims Assessment
8.3.1 Overview
8.3.2 Claims Assessment Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Chatbots
8.4.1 Overview
8.4.2 Chatbots Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Policy Pricing
8.5.1 Overview
8.5.2 Policy Pricing Market Forecast and Analysis
9. AI in Auto Insurance Market – Geographical Analysis
9.1 Overview
9.2 North America AI in Auto Insurance Market Revenue and Forecasts to 2027
9.2.1 Overview
9.2.2 North America AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.3 North America AI in Auto Insurance Market Breakdown, by Offering
9.2.4 North America AI in Auto Insurance Market Breakdown, by Application
9.2.5 North America AI in Auto Insurance market Breakdown by Key Countries
9.2.5.1 US AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.1.1 US AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.2.5.1.2 US AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.2.5.2 Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.2.1 Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.2.5.2.2 Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.2.5.3 Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.2.5.3.1 Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.2.5.3.2 Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3 Europe AI in Auto Insurance Market Revenue and Forecasts to 2027
9.3.1 Overview
9.3.2 Europe AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.3 Europe AI in Auto Insurance Market Breakdown, by Offering
9.3.4 Europe AI in Auto Insurance Market Breakdown, by Application
9.3.5 Europe AI in Auto Insurance Market Breakdown by Key Countries
9.3.5.1 UK AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.1.1 UK AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.1.2 UK AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3.5.2 Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.2.1 Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.2.2 Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3.5.3 Italy AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.3.1 Italy AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.3.2 Italy AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3.5.4 France AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.4.1 France AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.4.2 France AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3.5.5 Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.5.1 Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.5.2 Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.3.5.6 Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.3.5.6.1 Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.3.5.6.2 Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4 Asia Pacific AI in Auto Insurance Market Revenue and Forecasts to 2027
9.4.1 Overview
9.4.2 Asia Pacific AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.3 Asia-Pacific AI in Auto Insurance Market Breakdown, by Offering
9.4.4 Asia-Pacific AI in Auto Insurance Market Breakdown, by Application
9.4.5 Asia Pacific AI in Auto Insurance Market Breakdown by Key Countries
9.4.5.1 Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.1.1 Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.1.2 Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4.5.2 China AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.2.1 China AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.2.2 China AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4.5.3 India AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.3.1 India AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.3.2 India AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4.5.4 Japan AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.4.1 Japan AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.4.2 Japan AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4.5.5 South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.5.1 South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.5.2 South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.4.5.6 Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.4.5.6.1 Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.4.5.6.2 Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.5 Middle East & Africa AI in Auto Insurance Market Revenue and Forecasts to 2027
9.5.1 Overview
9.5.2 Middle East & Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.3 Middle East & Africa AI in Auto Insurance Market Breakdown, by Offering
9.5.4 Middle East & Africa AI in Auto Insurance Market Breakdown, by Application
9.5.5 Middle East & Africa AI in Auto Insurance Market Breakdown by Key Countries
9.5.5.1 South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.1.1 South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.5.5.1.2 South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.5.5.2 Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.2.1 Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.5.5.2.2 Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.5.5.3 UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.3.1 UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.5.5.3.2 UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.5.5.4 Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.5.5.4.1 Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.5.5.4.2 Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.6 South America AI in Auto Insurance Market Revenue and Forecasts to 2027
9.6.1 Overview
9.6.2 South America AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.6.3 South America AI in Auto Insurance Market Breakdown, by Offering
9.6.4 South America AI in Auto Insurance Market Breakdown, by Application
9.6.5 South America AI in Auto Insurance Market Breakdown by Key Countries
9.6.5.1 Brazil AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.6.5.1.1 Brazil AI in auto insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.6.5.1.2 Brazil AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.6.5.2 Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.6.5.2.1 Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.6.5.2.2 Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
9.6.5.3 Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
9.6.5.3.1 Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Offering
9.6.5.3.2 Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn), by Application
10. Industry Landscape
10.1 Market Initiative, Strategy Planning, Product Development Strategies
11. Company Profiles
11.1 Ant Financial Services Group Co., Ltd.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 CCC Information Services Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Claim Genius Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Clearcover, Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Microsoft Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 GEICO
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 ICICI Lombard General Insurance Company Limited
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Nauto, Inc.
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Solaria Labs (Liberty Mutual Insurance)
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview –Liberty Mutual Holding Company, Inc.
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 The Progressive Corporation
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Glossary
LIST OF TABLES
Table 1. Global AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. North America AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 3. North America AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 4. US AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 5. US AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 6. Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 7. Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 8. Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 9. Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 10. Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 11. Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 12. UK AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 13. UK AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 14. Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 15. Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 16. Italy AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 17. Italy AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 18. France AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 19. France AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 20. Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 21. Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 22. Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 23. Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 24. Asia-Pacific AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 25. Asia-Pacific AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 26. Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 27. Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By policy type (US$ Mn)
Table 28. China AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 29. China AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 30. India AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 31. India AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 32. Japan AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 33. Japan AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 34. South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 35. South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 36. Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 37. Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 38. Middle East & Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 39. Middle East & Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 40. South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 41. South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 42. Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 43. Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 44. UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 45. UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 46. Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 47. Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 48. South America (SAM) AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 49. South America AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 50. Brazil AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 51. Brazil AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 52. Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 53. Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 54. Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Offering (US$ Mn)
Table 55. Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 – By Application (US$ Mn)
Table 56. Glossary of Terms, AI in Auto Insurance Market
LIST OF FIGURES
Figure 1. Global AI in Auto Insurance Market Segmentation
Figure 2. Global AI in Auto Insurance Market Segmentation – By Region
Figure 3. Global AI in Auto Insurance Market Overview
Figure 4. Global AI in Auto Insurance Market, By Offerings ($Mn)
Figure 5. Global AI in Auto Insurance Market, By Application ($Mn)
Figure 6. Global AI in Auto Insurance Market, By Geography ($Mn)
Figure 7. North America PEST Analysis
Figure 8. Europe PEST Analysis
Figure 9. Asia Pacific PEST Analysis
Figure 10. Middle East & Africa PEST Analysis
Figure 11. South America PEST Analysis
Figure 12. Ecosystem Analysis of AI in Auto Insurance Market
Figure 13. Global AI in Auto Insurance Market Impact Analysis of Drivers and Restraints
Figure 14. Global AI in Auto Insurance Market
Figure 15. Global AI in Auto Insurance Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 16. AI in Auto Insurance Market Breakdown, By Offerings, 2018 & 2027 (%)
Figure 17. Global Usage Based Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 18. Global On-Demand Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 19. Global Peer-to-peer Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 20. AI in Auto Insurance Market Breakdown, By Application, 2018 & 2027 (%)
Figure 21. Global Claims Assessment Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 22. Global Chatbots Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 23. Global Policy Pricing Market Revenue And Forecasts To 2027(US$ Mn)
Figure 24. Global AI in auto insurance market, Global Breakdown by Regions, 2018 & 2027 (%)
Figure 25. North America AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 26. North America AI in Auto Insurance Market Breakdown by Offering, 2018 & 2027 (%)
Figure 27. North America AI in auto insurance market Breakdown by Application, 2018 & 2027 (%)
Figure 28. North America AI in Auto Insurance Market Breakdown by Key Countries, 2018 & 2027 (%)
Figure 29. US AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 30. Canada AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 31. Mexico AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 32. Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 33. Europe AI in Auto Insurance Market Breakdown, by Offering, 2018 & 2027 (%)
Figure 34. Europe AI in Auto Insurance Market Breakdown, by Application, 2018 & 2027 (%)
Figure 35. Europe AI in Auto Insurance Market Breakdown by Key Countries, 2018 & 2027 (%)
Figure 36. UK AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 37. Germany AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 38. Italy AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 39. France AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 40. Russia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 41. Rest of Europe AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 42. Asia Pacific AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 43. Asia-Pacific AI in Auto Insurance Market Breakdown by Offering, 2018 & 2027 (%)
Figure 44. Asia-Pacific AI in Auto Insurance Market Breakdown by Application, 2018 & 2027 (%)
Figure 45. Asia Pacific AI in Auto Insurance Market Breakdown by Key Countries, 2018 & 2027 (%)
Figure 46. Australia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 47. China AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 48. India AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 49. japan AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 50. South Korea AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 51. Rest of APAC AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 52. Middle East & Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 53. Middle East & Africa AI in Auto Insurance Market Breakdown by Offering, 2018 & 2027 (%)
Figure 54. Middle East & Africa AI in Auto Insurance Market Breakdown by Application, 2018 & 2027 (%)
Figure 55. Middle East & Africa AI in Auto Insurance Market Breakdown by Key Countries, 2018 & 2027 (%)
Figure 56. South Africa AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 57. Saudi Arabia AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 58. UAE AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 59. Rest of MEA AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 60. South America AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 61. South America AI in Auto Insurance Market Breakdown by Offering, 2018 & 2027 (%)
Figure 62. South America AI in Auto Insurance Market Breakdown by Application, 2018 & 2027 (%)
Figure 63. South America AI in Auto Insurance Market Breakdown by Key Countries, 2018 & 2027 (%)
Figure 64. brazil AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 65. Argentina AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
Figure 66. Rest of SAM AI in Auto Insurance Market Revenue and Forecasts to 2027 (US$ Mn)
The List of Companies
- ANT Financial Services Group
- CCC Information Services Inc.
- Claim Genius
- Clearcover, Inc.
- GEICO Corporation
- ICICI Lombard
- Microsoft Corporation
- Nauto
- Progressive Casualty Insurance Company
- Solaria Labs.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to AI in Auto Insurance Market
Nov 2019
Deepfake AI Detection Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Deployment (Cloud and On-Premises), Enterprise Size (Large Enterprises and SMEs), Industry Vertical (Media and Entertainment, BFSI, Government and Politics, Healthcare and Life Sciences, IT and Telecom, Retail and E-Commerce, and Others), and Geography
Nov 2019
Environmental Consulting Service Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Service Type (Investment Assessment and Auditing, Permitting and Compliance, Project and Information Management, Monitoring and Testing, and Others), Media Type (Water Management, Waste Management, and Others), Vertical (Energy and Utilities, Chemical and Petroleum, Manufacturing and Process Industries, Transportation and Construction Industries, and Others), and Geography
Nov 2019
Cloud OSS BSS Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By solution [OSS (Network Management & Orchestration, Resource Management, Analytics & Assurance, and Service Design & Fulfilment) and BSS (Billing & Revenue Management, Product Management, Customer Management, and Others)], Deployment Model (Public Cloud, Private Cloud, and Hybrid Cloud), Enterprise Size (Small & Medium Enterprises and Large Enterprises), and Industry (IT & Telecom, BFSI, Media & Entertainment, Healthcare, and Others), and Geography
Nov 2019
Unified Endpoint Management Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solutions and Services), Deployment Type (Cloud-Based and On-Premise), Platform (Desktop and Mobile), Organization Size (Large Enterprises and SMEs), End User (BFSI, Government and Defense, Healthcare, IT and Telecom, Automotive and Transportation, Retail, Manufacturing, and Others), and Geography
Nov 2019
AI in Computer Vision Market
Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Hardware) and End Use Industry (Security and Surveillance, Manufacturing, Automotive, Retail, Sports and Entertainment, and Others), and Geography
Nov 2019
Automotive Dealer Management System Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Application (Inventory Management, Appointment Scheduling, Customer Relationship Management, Dealer Tracking, and Others), Deployment (Cloud-Based and On-Premise), and Geography
Nov 2019
Electronic Data Interchange Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Type (Direct Electronic Data Interchange, Electronic Data Interchange via AS2, Electronic Data Interchange via VAN, Mobile Electronic Data Interchange, Web Electronic Data Interchange, Electronic Data Interchange Outsourcing, and Others), Industry (BFSI, Retail & Consumer Goods, Healthcare, IT & Telecommunication, Transportation & Logistics, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)
Nov 2019
Artificial Intelligence (AI) in Agriculture Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services), Application (Precision Farming, Drone Analytics, Agriculture Robots, Livestock Monitoring, and Others), and Geography
Get Free Sample For