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Insurance Technology Market in Europe 2015-2019

Insurance Technology Market in Europe 2015-2019

About Insurance Technology Market in Europe

Over the years, many insurance firms across Europe have become increasingly dependent on technology and Internet to run their business and drive revenue growth and this trend is expected to intensify further.

The insurance sector in European countries is likely to experience significant growth during the forecast period. However, it is dependent on the recovery from recent recessions and economic crises. This scenario varies from one country to another depending on the macroeconomic factors. Slow economic growth has pressurized insurers by challenging their investment strategy, existing business models and processes, product mixture, and operating structures. The existing business models have resulted in very low investment income and product margins. In order to receive greater investment benefits, investors are required to simplify their operations at reduced cost. Improving economic conditions in European countries are likely to increase motor and home sales, and will aid in stimulating business formation.

Increased digitalization in European countries is expected to fuel the insurance market during the forecast period. It will help insurance companies reach customers in an efficient manner. Many larger insurance organizations are planning to invest in digital marketing to develop its business. In addition, advances in data analytics will benefit insurance companies in gaining meaningful insights. Insurers are likely to create a platform for receiving and storing these insights, which aids insurers in exploring opportunities. Benefits gained through analytics insights for insurers includes effective product design and pricing, agency management, reporting, and improved customer-targeting processes.

Technavio's analysts forecast the insurance technology market in Europe to grow at a CAGR of 3.74% during 2014-2019.

Covered in this Report

This report covers the overview of the insurance technology market in Europe. The report also includes the PEST analysis of the insurance market in Europe, insurance brokerage market in Europe, and the adoption of third platform technologies such as Cloud, Big Data, and others by the insurance firms.

Technavio's report, Insurance Technology Market in Europe 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes profile of key vendors operating in this market.

Key Vendors

  • Accenture
  • Agile Financial Technologies
  • E&Y
  • HP
  • IBM
  • Mphasis
  • Oracle
  • Steria
Other Prominent Vendors
  • Amazon Web Service
  • BSB
  • Capgemini
  • Cognizant Technology Solutions
  • CSC
  • FICO
  • Genpact
  • Google
  • Informatica
  • Netapp
  • Polaris
  • Rackspace Hosting
  • Salesforce
  • SAP
  • Symantec
  • TCS
  • T-Systems
  • Verizon Communications
  • VMware
  • Wipro
Market Driver
  • Rationalization of Transaction Process
  • For a full, detailed list, view our report
Market Challenge
  • Reluctance to Change Legacy Systems
  • For a full, detailed list, view our report
Market Trend
  • Emergence of BaaS in Insurance Billing Operation
  • For a full, detailed list, view our report
Key Questions Answered in this Report
  • What will the market size be in 2019 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Insurance Technology Market in Europe 2015-2019

Technavio recognizes the following companies as the key players in the Insurance Technology Market in Europe: Accenture, Agile Financial Technologies, E&Y, HP, IBM, Mphasis, Oracle and Sopra Steria

Other Prominent Vendors in the market are: Amazon Web Service, BSB, Capgemini, Cognizant Technology Solutions, CSC, FICO, Genpact, Google, Informatica, Netapp, Polaris, Rackspace Hosting, Salesforce, SAP, Symantec, TCS, T-Systems, Verizon Communications, VMware and Wipro

Commenting on the report, an analyst from Technavio’s team said: “As customers are increasingly demanding real-time solutions, many insurance firms are aiming to be agile and event-driven architectures in the market. Mobile technology and social media are providing a cumulative number of sources for real-time data, which can be leveraged by insurance firms to a gain competitive advantage in the insurance technology market in Europe.”

According to the report, many insurance firms are spending significant amounts of time and money on IT risk management systems to identify, manage, optimize, and mitigate risks. Asset classes, customer segments, functional departments, and products are top priorities for insurance organizations. Failure to manage risks such as cyber-attacks and security threats can damage organizations.

Further, the report states that several cyber-attacks and security breaches have been reported recently due to the increasing number of internet users. Many insurance firms are struggling to secure clients' data to make investment decisions.

  • Executive Summary
  • List of Abbreviations
  • Scope of the Report
    • Market Overview
    • Product and Services Offerings
  • Market Research Methodology
    • Market Research Process
    • Research Methodology
      • Table Market Research Methodology
  • Introduction
  • Market Landscape
    • Market overview
    • Customer Preference to Purchase Insurance Products in Europe
      • Table Customer Preference for Purchasing Insurance Products in Europe 2014
    • Distribution Channel for Insurance Products in Europe
      • Table Distribution Channel for Insurance in Europe
    • Market Size and Forecast
      • Table Insurance Technology Market in Europe 2014-2019 ($ billions)
    • PEST Analysis for Insurance Industry in Europe
      • Table PEST Analysis for Insurance Industry
      • Political
      • Economic
      • Social
      • Technological
    • Five forces analysis
  • Adoption of Third Platform Technologies
    • Table Technologies used in European Insurance Industry
    • Cloud Computing
      • Overview
        • Table Overview of Cloud Computing
      • Cloud Computing in Insurance Technology Market in Europe
    • Big data and Analytics
      • Overview
      • Big Data in Insurance Technology Market in Europe
        • Table Scope of Analytics in Insurance Industry in Europe
    • Social Media
      • Social Media in Insurance Technology Market in Europe
        • Table Social Media Users in Europe 2014 (millions)
    • Mobility
      • Overview
      • Mobility in Insurance Technology Market in Europe
        • Table Drivers for Mobility in Insurance Technology Market in Europe
  • Insurance Brokerage Market in Europe
    • Table Insurance Brokerage Market in Europe 2014-2019 ($ billions)
    • France
      • Table Non-life Insurance Market Segmentation by Product Type in France
      • Germany
        • Table Non-life Insurance Market Segmentation by Product Type in Germany
      • Italy
        • Table Non-life Insurance Market Segmentation by Product Type in Italy
      • UK
        • Table Non-life Insurance Market Segmentation by Product Type in UK
    • Insurance Brokerage Value Chain Analysis
      • Table Insurance Brokerage Value Chain Analysis
  • Key Leading Countries
    • Portugal
    • Spain
    • France
  • Buying Criteria
  • Market Growth Drivers
  • Drivers and their Impact
  • Market Challenges
  • Impact of Drivers and Challenges
  • Market Trends
  • Trends and their Impact
  • Vendor Landscape
    • Competitive Scenario
    • Major Key Vendors
    • Other Prominent Vendors
      • Amazon Web Services
      • Capgemini
      • Cognizant Technology Solutions
      • CSC
      • EMC
      • NetApp
      • Rackspace Hosting
      • Salesforce
      • SAP
      • TCS
      • T-Systems
      • Verizon Communications
      • VMware
  • Key Vendor Analysis
    • Accenture
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2013
        • Table Accenture: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table Accenture: Business Segmentation by Revenue 2012 and 2013 (US$ million)
      • Geographical Segmentation by Revenue 2013
        • Table Accenture: Geographical Segmentation by Revenue 2013
      • Business Strategy
      • Key Information
      • SWOT Analysis
    • Agile Financial Technologies
      • Key Facts
      • Business Overview
      • SWOT Analysis
    • EY
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2013
        • Table EY: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table EY: Business Segmentation by Revenue 2012 and 2013 (US$ billion)
      • Geographical Segmentation by Revenue 2013
        • Table EY: Geographical Segmentation by Revenue 2013
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • HP
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2013
        • Table HP: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table HP: Business Segmentation by Revenue 2012 and 2013 (US$ million)
      • Geographical Segmentation by Revenue 2013
        • Table HP: Geographical Segmentation by Revenue 2013
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • IBM
      • Key Facts
      • Business Description
      • Business Segmentation
        • Table IBM: Business Segmentation
      • Revenue Segmentation by Business Segment
        • Table IBM: Revenue Segmentation by Business 2013
      • Revenue Segmentation by Business Operation
        • Table IBM: Revenue Segmentation 2013
      • Revenue Comparison of Business Segments 2012 and 2013
        • Table IBM: Revenue Comparison of Business Segments 2012 and 2013 (US$ million)
      • Revenue Segmentation by Geography
        • Table IBM: Revenue Segmentation by Geography 2013
      • Business Strategy
      • Key Developments
      • SWOT Analysis
    • Mphasis
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2015
        • Table Mphasis : Business Segmentation by Revenue 2015
      • Business Segmentation by Revenue 2014 and 2015
        • Table Mphasis : Business Segmentation by Revenue 2014 and 2015 ($ million)
      • Geographical Segmentation by Revenue 2015
        • Table Mphasis : Geographical Segmentation by Revenue 2015
      • Recent Developments
      • SWOT Analysis
    • Oracle
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2013
        • Table Oracle: Business Segmentation by Revenue 2013
      • Business Segmentation by Revenue 2012 and 2013
        • Table Oracle: Business Segmentation by Revenue 2012 and 2013 (US$ billions)
      • Geographical Segmentation by Revenue 2013
        • Table Oracle: Geographical Segmentation by Revenue 2013
      • Business Strategy
      • Recent Developments
      • SWOT Analysis
    • Sopra Steria
      • Key Facts
      • Business Overview
      • Business Segmentation by Revenue 2014
        • Table Sopra Steria: Business Segmentation by Revenue 2014
      • Geographical Segmentation by Revenue 2014
        • Table Sopra Steria: Geographical Segmentation by Revenue 2014
      • Recent Developments
      • SWOT Analysis
  • Other Reports in this Series

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