IoT Insurance Market

key Players in the IoT Insurance Market are International Business Machines Corporation (U.S.), SAP SE (Germany),

IoT insurance has a huge impact on the insurance industry and accelerates the insurance workflow. The IoT-enabled devices generate and collect real-time data and help insurers create new opportunities for new product development, better predictive modelling, risk management, and controlling losses. The global IoT insurance market is estimated to grow at a CAGR of 65.89% during the forecast period. The key players in the IoT insurance market are International Business Machines Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Google Inc. (U.S.) and Cisco Systems, Inc. (U.S.).

International Business Machines Corporation (U.S.) is a multinational technology provider operating in more than 175 countries globally. The company also has a diversified product portfolio that includes hardware, software, services, cloud platforms, Watson Internet of Things, and Watson Health, among others. These segments focus on various industries such as healthcare, banking, insurance, and others. Watson Health Solutions provides analytics solutions with pre-built predictive analytics capabilities for the insurance industries. In October 2016, the company partnered with Majesco (U.S.), an insurance software company which aims to help clients by developing new customer services with predictive data analytics.

SAP SE (Germany) develops enterprise application software for various industries and is one of the major players in business applications and analytics software in the digital commerce market. SAP Software solutions help insurance companies to simplify claims management, streamline policy administration, and undertake financial analysis. Also, SAP Solutions offers insurance the enterprise platform that enables intelligent data sharing across the business ecosystem for optimized underwriting, policy, billing and claim process to reduce costs. In May 2016, the company launched new offerings based on Internet of Things for customers and partners. The IoT offering includes IoT foundation bundle for SAP HANA and IoT intelligent edge processing bundle for SAP HANA. These solutions increase the capability of IoT data management. This software platform helps insurance companies in quick management of claims, easy underwriting process, and real-time risk management.

The other companies involved in the IoT insurance market include LexisNexis (U.S.), Zonoff, Inc. (U.S.), Accenture PLC (Ireland), Concirus (U.K.), and Verisk Analytics, Inc. (U.S.).

Related Reports:

IoT Insurance Market by Type (P&C, Health, Life), Application (Automotive & Transportation, Home & Commercial Buildings, Life & Health, Business & Enterprise, Consumer Electronics, Travel, Agriculture), and Geography - Global Forecast to 2022

Contact:
Mr.Rohan
MarketsandMarkets™
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
1-888-600-6441
Email: sales@marketsandmarkets.com

Report Code
SE 4957
Published ON
Jan, 2017
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the IoT Insurance Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved