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Technavio’s research analyst predicts the global property insurance market to grow steadily at a CAGR of 6% during the forecast period. The focus towards new technology and distribution systems are the primary growth drivers for this market. The insurers are shifting their focus from stand-alone technology projects to an environment where there is a continuous technological improvement. The property insurance vendors are using multiple distribution and communication channels to attract different customer segments. Many top vendors are also making use of the cost-effective solutions in infrastructure, communication, and analytics.
The growing adoption of data analytics and predictive modeling strategy in this market are expected to boost the market growth during the forecast period. Property insurance vendors are looking for a multi-channel distribution strategy in advanced data analytics such as univariate analysis, sampling, regression/general linear modeling, splines, and spatial smoothing. Also, advanced modeling tools and techniques are expected to help vendors collect useful data that will facilitate decision making. This, in turn, would help in the proper rating of the claims that are processed, thus bringing in transparency in the underwriting process during the forecast period.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by property
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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