PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1210963
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1210963
Global P&C Insurance Software Market Size study & Forecast, by Component (Software, Service), by Deployment Model (On Premise, Cloud), by Application (Claims, Underwriting, Operations, Others) and Regional Analysis, 2022-2029
Global P&C Insurance Software Market is valued at approximately USD 11.6 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.6% over the forecast period 2022-2029. P&C Insurance software is a software solution used by insurance providers, agents, and brokers to promote, sell, and administer insurance policies. This P&C insurance software suite offers a wide range of features including digital distribution of insurance policies, claims management, marketing automation, and underwriting management. The application of P&C insurance software reduces overall turnaround time of insurance distribution. The increasing demand for property & casualty insurance and growing adoption of automated software tools in insurance sector to improve overall turnaround time as well as strategic initiatives from leading market players are key factors accelerating the growth of the market over the forecast period.
The increasing demand for property & casualty insurance worldwide is contributing to the growth of the Global P&C Insurance market. For instance, according to Statista - in 2021, the property, casualty and direct insurance market in the United States was valued at USD 819 billion, and the market is projected to grow to USD 850 billion by end of 2022. Moreover, as per the Insurance Information Institute (a U.S. industry association) estimates - in 2019, the overall premiums earned by Property/Casualty Insurance Industry in the United States was estimated at USD 627.3 billion, and the income further increased to USD 690.2 billion in 2021. Also, growing penetration of internet & mobile devices coupled with rising prices of real estate properties in developing regions would create a lucrative growth prospectus for the market over the forecast period. However, the high deployment cost and concerns relating to data privacy & security impede the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global P&C Insurance Software Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region in terms of global market share owing to increasing prices of real estate properties as well as rising demand for P&C insurance in the region as well as availability of required technological infrastructure in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising penetration of smartphones as well as increasing emergence of digital insurance platforms in the region.
Major market players included in this report are:
Agency Software Inc.
ClarionDoor
Duck Creek Technologies
Guidewire Software, Inc.
InsuredMine
PCMS Software
Pegasystems Inc.
Quick Silver Systems, Inc.
Willis Towers Watson
Zywave, Inc.
Recent Developments in the Market:
- In 2021, Vertafore acquired AgencyZoom, a cloud-based sales automation platform for insurance agents.
- In August 2021, Guidewire acquired California, USA based HazardHub. HazardHub is a leading provider of API-driven property risk solutions to the P&C insurance industry.
Global P&C Insurance Software Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Deployment Model, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component
Software
Service
By Deployment Model
On Premise
Cloud
By Application
Claims
Underwriting
Operations
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. P&C Insurance Software Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. P&C Insurance Software Market, by Component, 2019-2029 (USD Billion)
- 1.2.3. P&C Insurance Software Market, by Deployment Model, 2019-2029 (USD Billion)
- 1.2.4. P&C Insurance Software Market, by Application, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global P&C Insurance Software Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global P&C Insurance Software Market Dynamics
- 3.1. P&C Insurance Software Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for property & casualty insurance
- 3.1.1.2. Growing adoption of automated software tools in insurance sector
- 3.1.1.3. Strategic initiatives from leading market players
- 3.1.2. Market Challenges
- 3.1.2.1. High deployment cost
- 3.1.2.2. Concerns relating to data privacy & security
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing penetration of internet & mobile devices
- 3.1.3.2. Rising prices of real estate properties in developing regions
- 3.1.1. Market Drivers
Chapter 4. Global P&C Insurance Software Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global P&C Insurance Software Market, by Component
- 6.1. Market Snapshot
- 6.2. Global P&C Insurance Software Market by Component, Performance - Potential Analysis
- 6.3. Global P&C Insurance Software Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
- 6.4. P&C Insurance Software Market, Sub Segment Analysis
- 6.4.1. Software
- 6.4.2. Service
Chapter 7. Global P&C Insurance Software Market, by Deployment Model
- 7.1. Market Snapshot
- 7.2. Global P&C Insurance Software Market by Deployment Model, Performance - Potential Analysis
- 7.3. Global P&C Insurance Software Market Estimates & Forecasts by Deployment Model 2019-2029 (USD Billion)
- 7.4. P&C Insurance Software Market, Sub Segment Analysis
- 7.4.1. On Premise
- 7.4.2. Cloud
Chapter 8. Global P&C Insurance Software Market, by Application
- 8.1. Market Snapshot
- 8.2. Global P&C Insurance Software Market by Application, Performance - Potential Analysis
- 8.3. Global P&C Insurance Software Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 8.4. P&C Insurance Software Market, Sub Segment Analysis
- 8.4.1. Claims
- 8.4.2. Underwriting
- 8.4.3. Operations
- 8.4.4. Others
Chapter 9. Global P&C Insurance Software Market, Regional Analysis
- 9.1. P&C Insurance Software Market, Regional Market Snapshot
- 9.2. North America P&C Insurance Software Market
- 9.2.1. U.S. P&C Insurance Software Market
- 9.2.1.1. Component breakdown estimates & forecasts, 2019-2029
- 9.2.1.2. Deployment Model breakdown estimates & forecasts, 2019-2029
- 9.2.1.3. Application breakdown estimates & forecasts, 2019-2029
- 9.2.2. Canada P&C Insurance Software Market
- 9.2.1. U.S. P&C Insurance Software Market
- 9.3. Europe P&C Insurance Software Market Snapshot
- 9.3.1. U.K. P&C Insurance Software Market
- 9.3.2. Germany P&C Insurance Software Market
- 9.3.3. France P&C Insurance Software Market
- 9.3.4. Spain P&C Insurance Software Market
- 9.3.5. Italy P&C Insurance Software Market
- 9.3.6. Rest of Europe P&C Insurance Software Market
- 9.4. Asia-Pacific P&C Insurance Software Market Snapshot
- 9.4.1. China P&C Insurance Software Market
- 9.4.2. India P&C Insurance Software Market
- 9.4.3. Japan P&C Insurance Software Market
- 9.4.4. Australia P&C Insurance Software Market
- 9.4.5. South Korea P&C Insurance Software Market
- 9.4.6. Rest of Asia Pacific P&C Insurance Software Market
- 9.5. Latin America P&C Insurance Software Market Snapshot
- 9.5.1. Brazil P&C Insurance Software Market
- 9.5.2. Mexico P&C Insurance Software Market
- 9.5.3. Rest of Latin America P&C Insurance Software Market
- 9.6. Rest of The World P&C Insurance Software Market
Chapter 10. Competitive Intelligence
- 10.1. Top Market Strategies
- 10.2. Company Profiles
- 10.2.1. Agency Software Inc
- 10.2.1.1. Key Information
- 10.2.1.2. Overview
- 10.2.1.3. Financial (Subject to Data Availability)
- 10.2.1.4. Product Summary
- 10.2.1.5. Recent Developments
- 10.2.2. ClarionDoor
- 10.2.3. Duck Creek Technologies
- 10.2.4. Guidewire Software, Inc.
- 10.2.5. InsuredMine
- 10.2.6. PCMS Software
- 10.2.7. Pegasystems Inc.
- 10.2.8. Quick Silver Systems, Inc.
- 10.2.9. Willis Towers Watson
- 10.2.10. Zywave, Inc.
- 10.2.1. Agency Software Inc
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption
LIST OF TABLES
- TABLE 1. Global P&C Insurance Software Market, report scope
- TABLE 2. Global P&C Insurance Software Market estimates & forecasts by Region 2019-2029 (USD Billion)
- TABLE 3. Global P&C Insurance Software Market estimates & forecasts by Component 2019-2029 (USD Billion)
- TABLE 4. Global P&C Insurance Software Market estimates & forecasts by Deployment Model 2019-2029 (USD Billion)
- TABLE 5. Global P&C Insurance Software Market estimates & forecasts by Application 2019-2029 (USD Billion)
- TABLE 6. Global P&C Insurance Software Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 7. Global P&C Insurance Software Market by region, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 8. Global P&C Insurance Software Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 9. Global P&C Insurance Software Market by region, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 10. Global P&C Insurance Software Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 11. Global P&C Insurance Software Market by region, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 12. Global P&C Insurance Software Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 13. Global P&C Insurance Software Market by region, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 14. Global P&C Insurance Software Market by segment, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 15. Global P&C Insurance Software Market by region, estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 16. U.S. P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 17. U.S. P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 18. U.S. P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 19. Canada P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 20. Canada P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 21. Canada P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 22. UK P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 23. UK P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 24. UK P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 25. Germany P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 26. Germany P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 27. Germany P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 28. France P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 29. France P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 30. France P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 31. Italy P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 32. Italy P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 33. Italy P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 34. Spain P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 35. Spain P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 36. Spain P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 37. RoE P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 38. RoE P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 39. RoE P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 40. China P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 41. China P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 42. China P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 43. India P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 44. India P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 45. India P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 46. Japan P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 47. Japan P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 48. Japan P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 49. South Korea P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 50. South Korea P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 51. South Korea P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 52. Australia P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 53. Australia P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 54. Australia P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 55. RoAPAC P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 56. RoAPAC P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 57. RoAPAC P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 58. Brazil P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 59. Brazil P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 60. Brazil P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 61. Mexico P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 62. Mexico P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 63. Mexico P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 64. RoLA P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 65. RoLA P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 66. RoLA P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 67. Row P&C Insurance Software Market estimates & forecasts, 2019-2029 (USD Billion)
- TABLE 68. Row P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 69. Row P&C Insurance Software Market estimates & forecasts by segment 2019-2029 (USD Billion)
- TABLE 70. List of secondary sources, used in the study of global P&C Insurance Software Market
- TABLE 71. List of primary sources, used in the study of global P&C Insurance Software Market
- TABLE 72. Years considered for the study
- TABLE 73. Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
LIST OF FIGURES
List of figures
- FIG 1. Global P&C Insurance Software Market, research methodology
- FIG 2. Global P&C Insurance Software Market, Market estimation techniques
- FIG 3. Global Market size estimates & forecast methods
- FIG 4. Global P&C Insurance Software Market, key trends 2021
- FIG 5. Global P&C Insurance Software Market, growth prospects 2022-2029
- FIG 6. Global P&C Insurance Software Market, porters 5 force model
- FIG 7. Global P&C Insurance Software Market, pest analysis
- FIG 8. Global P&C Insurance Software Market, value chain analysis
- FIG 9. Global P&C Insurance Software Market by segment, 2019 & 2029 (USD Billion)
- FIG 10. Global P&C Insurance Software Market by segment, 2019 & 2029 (USD Billion)
- FIG 11. Global P&C Insurance Software Market by segment, 2019 & 2029 (USD Billion)
- FIG 12. Global P&C Insurance Software Market by segment, 2019 & 2029 (USD Billion)
- FIG 13. Global P&C Insurance Software Market by segment, 2019 & 2029 (USD Billion)
- FIG 14. Global P&C Insurance Software Market, regional snapshot 2019 & 2029
- FIG 15. North America P&C Insurance Software Market 2019 & 2029 (USD Billion)
- FIG 16. Europe P&C Insurance Software Market 2019 & 2029 (USD Billion)
- FIG 17. Asia Pacific P&C Insurance Software Market 2019 & 2029 (USD Billion)
- FIG 18. Latin America P&C Insurance Software Market 2019 & 2029 (USD Billion)
- FIG 19. Global P&C Insurance Software Market, company Market share analysis (2021)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
