Global AI in Insurance Market Growth (Status and Outlook) 2023-2029

February 2023 | 88 pages | ID: G3C8C1922D34EN
LP Information

Abstracts

The report requires updating with new data and is sent in 48 hours after order is placed.

LPI (LP Information)' newest research report, the “AI in Insurance Industry Forecast” looks at past sales and reviews total world AI in Insurance sales in 2022, providing a comprehensive analysis by region and market sector of projected AI in Insurance sales for 2023 through 2029. With AI in Insurance sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world AI in Insurance industry.

This Insight Report provides a comprehensive analysis of the global AI in Insurance landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on AI in Insurance portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global AI in Insurance market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for AI in Insurance and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global AI in Insurance.

The global AI in Insurance market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

United States market for AI in Insurance is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

China market for AI in Insurance is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Europe market for AI in Insurance is estimated to increase from US$ million in 2022 to US$ million by 2029, at a CAGR of % from 2023 through 2029.

Global key AI in Insurance players cover AIA Group Ltd, AIG, Allianz SE, AXA and Berkshire Hathaway, etc. In terms of revenue, the global two largest companies occupied for a share nearly % in 2022.

This report presents a comprehensive overview, market shares, and growth opportunities of AI in Insurance market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type

• Cloud
• On-Premise

Segmentation by application

• Chatbots & Virtual Assistance
• Fraud Detection
• Customer Relationship Management
• Cybersecurity
• Payment Gateways
• Financial Transactions
• Other

This report also splits the market by region:

• Americas
• United States
• Canada
• Mexico
• Brazil
• APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

• AIA Group Ltd
• AIG
• Allianz SE
• AXA
• Berkshire Hathaway

Contents

1 SCOPE OF THE REPORT

1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats

2 EXECUTIVE SUMMARY

2.1 World Market Overview
  2.1.1 Global AI in Insurance Market Size 2018-2029
  2.1.2 AI in Insurance Market Size CAGR by Region 2018 VS 2022 VS 2029
2.2 AI in Insurance Segment by Type
  2.2.1 Cloud
  2.2.2 On-Premise
2.3 AI in Insurance Market Size by Type
  2.3.1 AI in Insurance Market Size CAGR by Type (2018 VS 2022 VS 2029)
  2.3.2 Global AI in Insurance Market Size Market Share by Type (2018-2023)
2.4 AI in Insurance Segment by Application
  2.4.1 Chatbots & Virtual Assistance
  2.4.2 Fraud Detection
  2.4.3 Customer Relationship Management
  2.4.4 Cybersecurity
  2.4.5 Payment Gateways
  2.4.6 Financial Transactions
  2.4.7 Other
2.5 AI in Insurance Market Size by Application
  2.5.1 AI in Insurance Market Size CAGR by Application (2018 VS 2022 VS 2029)
  2.5.2 Global AI in Insurance Market Size Market Share by Application (2018-2023)

3 AI IN INSURANCE MARKET SIZE BY PLAYER

3.1 AI in Insurance Market Size Market Share by Players
  3.1.1 Global AI in Insurance Revenue by Players (2018-2023)
  3.1.2 Global AI in Insurance Revenue Market Share by Players (2018-2023)
3.2 Global AI in Insurance Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
  3.3.1 Competition Landscape Analysis
  3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2021-2023)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion

4 AI IN INSURANCE BY REGIONS

4.1 AI in Insurance Market Size by Regions (2018-2023)
4.2 Americas AI in Insurance Market Size Growth (2018-2023)
4.3 APAC AI in Insurance Market Size Growth (2018-2023)
4.4 Europe AI in Insurance Market Size Growth (2018-2023)
4.5 Middle East & Africa AI in Insurance Market Size Growth (2018-2023)

5 AMERICAS

5.1 Americas AI in Insurance Market Size by Country (2018-2023)
5.2 Americas AI in Insurance Market Size by Type (2018-2023)
5.3 Americas AI in Insurance Market Size by Application (2018-2023)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil

6 APAC

6.1 APAC AI in Insurance Market Size by Region (2018-2023)
6.2 APAC AI in Insurance Market Size by Type (2018-2023)
6.3 APAC AI in Insurance Market Size by Application (2018-2023)
6.4 China
6.5 Japan
6.6 Korea
6.7 Southeast Asia
6.8 India
6.9 Australia

7 EUROPE

7.1 Europe AI in Insurance by Country (2018-2023)
7.2 Europe AI in Insurance Market Size by Type (2018-2023)
7.3 Europe AI in Insurance Market Size by Application (2018-2023)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia

8 MIDDLE EAST & AFRICA

8.1 Middle East & Africa AI in Insurance by Region (2018-2023)
8.2 Middle East & Africa AI in Insurance Market Size by Type (2018-2023)
8.3 Middle East & Africa AI in Insurance Market Size by Application (2018-2023)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries

9 MARKET DRIVERS, CHALLENGES AND TRENDS

9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends

10 GLOBAL AI IN INSURANCE MARKET FORECAST

10.1 Global AI in Insurance Forecast by Regions (2024-2029)
  10.1.1 Global AI in Insurance Forecast by Regions (2024-2029)
  10.1.2 Americas AI in Insurance Forecast
  10.1.3 APAC AI in Insurance Forecast
  10.1.4 Europe AI in Insurance Forecast
  10.1.5 Middle East & Africa AI in Insurance Forecast
10.2 Americas AI in Insurance Forecast by Country (2024-2029)
  10.2.1 United States AI in Insurance Market Forecast
  10.2.2 Canada AI in Insurance Market Forecast
  10.2.3 Mexico AI in Insurance Market Forecast
  10.2.4 Brazil AI in Insurance Market Forecast
10.3 APAC AI in Insurance Forecast by Region (2024-2029)
  10.3.1 China AI in Insurance Market Forecast
  10.3.2 Japan AI in Insurance Market Forecast
  10.3.3 Korea AI in Insurance Market Forecast
  10.3.4 Southeast Asia AI in Insurance Market Forecast
  10.3.5 India AI in Insurance Market Forecast
  10.3.6 Australia AI in Insurance Market Forecast
10.4 Europe AI in Insurance Forecast by Country (2024-2029)
  10.4.1 Germany AI in Insurance Market Forecast
  10.4.2 France AI in Insurance Market Forecast
  10.4.3 UK AI in Insurance Market Forecast
  10.4.4 Italy AI in Insurance Market Forecast
  10.4.5 Russia AI in Insurance Market Forecast
10.5 Middle East & Africa AI in Insurance Forecast by Region (2024-2029)
  10.5.1 Egypt AI in Insurance Market Forecast
  10.5.2 South Africa AI in Insurance Market Forecast
  10.5.3 Israel AI in Insurance Market Forecast
  10.5.4 Turkey AI in Insurance Market Forecast
  10.5.5 GCC Countries AI in Insurance Market Forecast
10.6 Global AI in Insurance Forecast by Type (2024-2029)
10.7 Global AI in Insurance Forecast by Application (2024-2029)

11 KEY PLAYERS ANALYSIS

11.1 AIA Group Ltd
  11.1.1 AIA Group Ltd Company Information
  11.1.2 AIA Group Ltd AI in Insurance Product Offered
  11.1.3 AIA Group Ltd AI in Insurance Revenue, Gross Margin and Market Share (2018-2023)
  11.1.4 AIA Group Ltd Main Business Overview
  11.1.5 AIA Group Ltd Latest Developments
11.2 AIG
  11.2.1 AIG Company Information
  11.2.2 AIG AI in Insurance Product Offered
  11.2.3 AIG AI in Insurance Revenue, Gross Margin and Market Share (2018-2023)
  11.2.4 AIG Main Business Overview
  11.2.5 AIG Latest Developments
11.3 Allianz SE
  11.3.1 Allianz SE Company Information
  11.3.2 Allianz SE AI in Insurance Product Offered
  11.3.3 Allianz SE AI in Insurance Revenue, Gross Margin and Market Share (2018-2023)
  11.3.4 Allianz SE Main Business Overview
  11.3.5 Allianz SE Latest Developments
11.4 AXA
  11.4.1 AXA Company Information
  11.4.2 AXA AI in Insurance Product Offered
  11.4.3 AXA AI in Insurance Revenue, Gross Margin and Market Share (2018-2023)
  11.4.4 AXA Main Business Overview
  11.4.5 AXA Latest Developments
11.5 Berkshire Hathaway
  11.5.1 Berkshire Hathaway Company Information
  11.5.2 Berkshire Hathaway AI in Insurance Product Offered
  11.5.3 Berkshire Hathaway AI in Insurance Revenue, Gross Margin and Market Share (2018-2023)
  11.5.4 Berkshire Hathaway Main Business Overview
  11.5.5 Berkshire Hathaway Latest Developments

12 RESEARCH FINDINGS AND CONCLUSION

List Of Tables

LIST OF TABLES

Table 1. AI in Insurance Market Size CAGR by Region (2018 VS 2022 VS 2029) & ($ Millions)
Table 2. Major Players of Cloud
Table 3. Major Players of On-Premise
Table 4. AI in Insurance Market Size CAGR by Type (2018 VS 2022 VS 2029) & ($ Millions)
Table 5. Global AI in Insurance Market Size by Type (2018-2023) & ($ Millions)
Table 6. Global AI in Insurance Market Size Market Share by Type (2018-2023)
Table 7. AI in Insurance Market Size CAGR by Application (2018 VS 2022 VS 2029) & ($ Millions)
Table 8. Global AI in Insurance Market Size by Application (2018-2023) & ($ Millions)
Table 9. Global AI in Insurance Market Size Market Share by Application (2018-2023)
Table 10. Global AI in Insurance Revenue by Players (2018-2023) & ($ Millions)
Table 11. Global AI in Insurance Revenue Market Share by Player (2018-2023)
Table 12. AI in Insurance Key Players Head office and Products Offered
Table 13. AI in Insurance Concentration Ratio (CR3, CR5 and CR10) & (2021-2023)
Table 14. New Products and Potential Entrants
Table 15. Mergers & Acquisitions, Expansion
Table 16. Global AI in Insurance Market Size by Regions 2018-2023 & ($ Millions)
Table 17. Global AI in Insurance Market Size Market Share by Regions (2018-2023)
Table 18. Global AI in Insurance Revenue by Country/Region (2018-2023) & ($ millions)
Table 19. Global AI in Insurance Revenue Market Share by Country/Region (2018-2023)
Table 20. Americas AI in Insurance Market Size by Country (2018-2023) & ($ Millions)
Table 21. Americas AI in Insurance Market Size Market Share by Country (2018-2023)
Table 22. Americas AI in Insurance Market Size by Type (2018-2023) & ($ Millions)
Table 23. Americas AI in Insurance Market Size Market Share by Type (2018-2023)
Table 24. Americas AI in Insurance Market Size by Application (2018-2023) & ($ Millions)
Table 25. Americas AI in Insurance Market Size Market Share by Application (2018-2023)
Table 26. APAC AI in Insurance Market Size by Region (2018-2023) & ($ Millions)
Table 27. APAC AI in Insurance Market Size Market Share by Region (2018-2023)
Table 28. APAC AI in Insurance Market Size by Type (2018-2023) & ($ Millions)
Table 29. APAC AI in Insurance Market Size Market Share by Type (2018-2023)
Table 30. APAC AI in Insurance Market Size by Application (2018-2023) & ($ Millions)
Table 31. APAC AI in Insurance Market Size Market Share by Application (2018-2023)
Table 32. Europe AI in Insurance Market Size by Country (2018-2023) & ($ Millions)
Table 33. Europe AI in Insurance Market Size Market Share by Country (2018-2023)
Table 34. Europe AI in Insurance Market Size by Type (2018-2023) & ($ Millions)
Table 35. Europe AI in Insurance Market Size Market Share by Type (2018-2023)
Table 36. Europe AI in Insurance Market Size by Application (2018-2023) & ($ Millions)
Table 37. Europe AI in Insurance Market Size Market Share by Application (2018-2023)
Table 38. Middle East & Africa AI in Insurance Market Size by Region (2018-2023) & ($ Millions)
Table 39. Middle East & Africa AI in Insurance Market Size Market Share by Region (2018-2023)
Table 40. Middle East & Africa AI in Insurance Market Size by Type (2018-2023) & ($ Millions)
Table 41. Middle East & Africa AI in Insurance Market Size Market Share by Type (2018-2023)
Table 42. Middle East & Africa AI in Insurance Market Size by Application (2018-2023) & ($ Millions)
Table 43. Middle East & Africa AI in Insurance Market Size Market Share by Application (2018-2023)
Table 44. Key Market Drivers & Growth Opportunities of AI in Insurance
Table 45. Key Market Challenges & Risks of AI in Insurance
Table 46. Key Industry Trends of AI in Insurance
Table 47. Global AI in Insurance Market Size Forecast by Regions (2024-2029) & ($ Millions)
Table 48. Global AI in Insurance Market Size Market Share Forecast by Regions (2024-2029)
Table 49. Global AI in Insurance Market Size Forecast by Type (2024-2029) & ($ Millions)
Table 50. Global AI in Insurance Market Size Forecast by Application (2024-2029) & ($ Millions)
Table 51. AIA Group Ltd Details, Company Type, AI in Insurance Area Served and Its Competitors
Table 52. AIA Group Ltd AI in Insurance Product Offered
Table 53. AIA Group Ltd AI in Insurance Revenue ($ million), Gross Margin and Market Share (2018-2023)
Table 54. AIA Group Ltd Main Business
Table 55. AIA Group Ltd Latest Developments
Table 56. AIG Details, Company Type, AI in Insurance Area Served and Its Competitors
Table 57. AIG AI in Insurance Product Offered
Table 58. AIG Main Business
Table 59. AIG AI in Insurance Revenue ($ million), Gross Margin and Market Share (2018-2023)
Table 60. AIG Latest Developments
Table 61. Allianz SE Details, Company Type, AI in Insurance Area Served and Its Competitors
Table 62. Allianz SE AI in Insurance Product Offered
Table 63. Allianz SE Main Business
Table 64. Allianz SE AI in Insurance Revenue ($ million), Gross Margin and Market Share (2018-2023)
Table 65. Allianz SE Latest Developments
Table 66. AXA Details, Company Type, AI in Insurance Area Served and Its Competitors
Table 67. AXA AI in Insurance Product Offered
Table 68. AXA Main Business
Table 69. AXA AI in Insurance Revenue ($ million), Gross Margin and Market Share (2018-2023)
Table 70. AXA Latest Developments
Table 71. Berkshire Hathaway Details, Company Type, AI in Insurance Area Served and Its Competitors
Table 72. Berkshire Hathaway AI in Insurance Product Offered
Table 73. Berkshire Hathaway Main Business
Table 74. Berkshire Hathaway AI in Insurance Revenue ($ million), Gross Margin and Market Share (2018-2023)
Table 75. Berkshire Hathaway Latest Developments

List Of Figures

LIST OF FIGURES

Figure 1. AI in Insurance Report Years Considered
Figure 2. Research Objectives
Figure 3. Research Methodology
Figure 4. Research Process and Data Source
Figure 5. Global AI in Insurance Market Size Growth Rate 2018-2029 ($ Millions)
Figure 6. AI in Insurance Sales by Geographic Region (2018, 2022 & 2029) & ($ millions)
Figure 7. AI in Insurance Sales Market Share by Country/Region (2022)
Figure 8. AI in Insurance Sales Market Share by Country/Region (2018, 2022 & 2029)
Figure 9. Global AI in Insurance Market Size Market Share by Type in 2022
Figure 10. AI in Insurance in Chatbots & Virtual Assistance
Figure 11. Global AI in Insurance Market: Chatbots & Virtual Assistance (2018-2023) & ($ Millions)
Figure 12. AI in Insurance in Fraud Detection
Figure 13. Global AI in Insurance Market: Fraud Detection (2018-2023) & ($ Millions)
Figure 14. AI in Insurance in Customer Relationship Management
Figure 15. Global AI in Insurance Market: Customer Relationship Management (2018-2023) & ($ Millions)
Figure 16. AI in Insurance in Cybersecurity
Figure 17. Global AI in Insurance Market: Cybersecurity (2018-2023) & ($ Millions)
Figure 18. AI in Insurance in Payment Gateways
Figure 19. Global AI in Insurance Market: Payment Gateways (2018-2023) & ($ Millions)
Figure 20. AI in Insurance in Financial Transactions
Figure 21. Global AI in Insurance Market: Financial Transactions (2018-2023) & ($ Millions)
Figure 22. AI in Insurance in Other
Figure 23. Global AI in Insurance Market: Other (2018-2023) & ($ Millions)
Figure 24. Global AI in Insurance Market Size Market Share by Application in 2022
Figure 25. Global AI in Insurance Revenue Market Share by Player in 2022
Figure 26. Global AI in Insurance Market Size Market Share by Regions (2018-2023)
Figure 27. Americas AI in Insurance Market Size 2018-2023 ($ Millions)
Figure 28. APAC AI in Insurance Market Size 2018-2023 ($ Millions)
Figure 29. Europe AI in Insurance Market Size 2018-2023 ($ Millions)
Figure 30. Middle East & Africa AI in Insurance Market Size 2018-2023 ($ Millions)
Figure 31. Americas AI in Insurance Value Market Share by Country in 2022
Figure 32. United States AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 33. Canada AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 34. Mexico AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 35. Brazil AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 36. APAC AI in Insurance Market Size Market Share by Region in 2022
Figure 37. APAC AI in Insurance Market Size Market Share by Type in 2022
Figure 38. APAC AI in Insurance Market Size Market Share by Application in 2022
Figure 39. China AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 40. Japan AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 41. Korea AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 42. Southeast Asia AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 43. India AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 44. Australia AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 45. Europe AI in Insurance Market Size Market Share by Country in 2022
Figure 46. Europe AI in Insurance Market Size Market Share by Type (2018-2023)
Figure 47. Europe AI in Insurance Market Size Market Share by Application (2018-2023)
Figure 48. Germany AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 49. France AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 50. UK AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 51. Italy AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 52. Russia AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 53. Middle East & Africa AI in Insurance Market Size Market Share by Region (2018-2023)
Figure 54. Middle East & Africa AI in Insurance Market Size Market Share by Type (2018-2023)
Figure 55. Middle East & Africa AI in Insurance Market Size Market Share by Application (2018-2023)
Figure 56. Egypt AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 57. South Africa AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 58. Israel AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 59. Turkey AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 60. GCC Country AI in Insurance Market Size Growth 2018-2023 ($ Millions)
Figure 61. Americas AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 62. APAC AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 63. Europe AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 64. Middle East & Africa AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 65. United States AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 66. Canada AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 67. Mexico AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 68. Brazil AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 69. China AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 70. Japan AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 71. Korea AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 72. Southeast Asia AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 73. India AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 74. Australia AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 75. Germany AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 76. France AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 77. UK AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 78. Italy AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 79. Russia AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 80. Spain AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 81. Egypt AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 82. South Africa AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 83. Israel AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 84. Turkey AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 85. GCC Countries AI in Insurance Market Size 2024-2029 ($ Millions)
Figure 86. Global AI in Insurance Market Size Market Share Forecast by Type (2024-2029)
Figure 87. Global AI in Insurance Market Size Market Share Forecast by Application (2024-2029)