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?
01. Executive Summary
02. List of Abbreviations
03. Scope of the Report
03.1 Market Overview
03.2 Product and Services Offerings
04. Market Research Methodology
04.1 Market Research Process
04.2 Research Methodology
05. Introduction
06. Market Landscape
06.1 Market overview
06.2 Customer Preference to Purchase Insurance Products in Europe
06.3 Distribution Channel for Insurance Products in Europe
06.4 Market Size and Forecast
06.5 PEST Analysis for Insurance Industry in Europe
06.5.1 Political
06.5.2 Economic
06.5.3 Social
06.5.4 Technological
06.6 Five forces analysis
07. Adoption of Third Platform Technologies
07.1 Cloud Computing
07.1.1 Overview
07.1.2 Cloud Computing in Insurance Technology Market in Europe
07.2 Big data and Analytics
07.2.1 Overview
07.2.2 Big Data in Insurance Technology Market in Europe
07.3 Social Media
07.3.1 Social Media in Insurance Technology Market in Europe
07.4 Mobility
07.4.1 Overview
07.4.2 Mobility in Insurance Technology Market in Europe
08. Insurance Brokerage Market in Europe
08.1.1 France
08.1.2 Germany
08.1.3 Italy
08.1.4 UK
08.2 Insurance Brokerage Value Chain Analysis
09. Key Leading Countries
09.1 Portugal
09.2 Spain
09.3 France
10. Buying Criteria
11. Market Growth Drivers
12. Drivers and their Impact
13. Market Challenges
14. Impact of Drivers and Challenges
15. Market Trends
16. Trends and their Impact
17. Vendor Landscape
17.1 Competitive Scenario
17.2 Major Key Vendors
17.3 Other Prominent Vendors
17.3.1 Amazon Web Services
17.3.2 Capgemini
17.3.3 Cognizant Technology Solutions
17.3.4 CSC
17.3.5 EMC
17.3.6 NetApp
17.3.7 Rackspace Hosting
17.3.8 Salesforce
17.3.9 SAP
17.3.10 TCS
17.3.11 T-Systems
17.3.12 Verizon Communications
17.3.13 VMware
18. Key Vendor Analysis
18.1 Accenture
18.1.1 Key Facts
18.1.2 Business Overview
18.1.3 Business Segmentation by Revenue 2013
18.1.4 Business Segmentation by Revenue 2012 and 2013
18.1.5 Geographical Segmentation by Revenue 2013
18.1.6 Business Strategy
18.1.7 Key Information
18.1.8 SWOT Analysis
18.2 Agile Financial Technologies
18.2.1 Key Facts
18.2.2 Business Overview
18.2.3 SWOT Analysis
18.3 EY
18.3.1 Key Facts
18.3.2 Business Overview
18.3.3 Business Segmentation by Revenue 2013
18.3.4 Business Segmentation by Revenue 2012 and 2013
18.3.5 Geographical Segmentation by Revenue 2013
18.3.6 Business Strategy
18.3.7 Recent Developments
18.3.8 SWOT Analysis
18.4 HP
18.4.1 Key Facts
18.4.2 Business Overview
18.4.3 Business Segmentation by Revenue 2013
18.4.4 Business Segmentation by Revenue 2012 and 2013
18.4.5 Geographical Segmentation by Revenue 2013
18.4.6 Business Strategy
18.4.7 Recent Developments
18.4.8 SWOT Analysis
18.5 IBM
18.5.1 Key Facts
18.5.2 Business Description
18.5.3 Business Segmentation
18.5.4 Revenue Segmentation by Business Segment
18.5.5 Revenue Segmentation by Business Operation
18.5.6 Revenue Comparison of Business Segments 2012 and 2013
18.5.7 Revenue Segmentation by Geography
18.5.8 Business Strategy
18.5.9 Key Developments
18.5.10 SWOT Analysis
18.6 Mphasis
18.6.1 Key Facts
18.6.2 Business Overview
18.6.3 Business Segmentation by Revenue 2015
18.6.4 Business Segmentation by Revenue 2014 and 2015
18.6.5 Geographical Segmentation by Revenue 2015
18.6.6 Recent Developments
18.6.7 SWOT Analysis
18.7 Oracle
18.7.1 Key Facts
18.7.2 Business Overview
18.7.3 Business Segmentation by Revenue 2013
18.7.4 Business Segmentation by Revenue 2012 and 2013
18.7.5 Geographical Segmentation by Revenue 2013
18.7.6 Business Strategy
18.7.7 Recent Developments
18.7.8 SWOT Analysis
18.8 Sopra Steria
18.8.1 Key Facts
18.8.2 Business Overview
18.8.3 Business Segmentation by Revenue 2014
18.8.4 Geographical Segmentation by Revenue 2014
18.8.5 Recent Developments
18.8.6 SWOT Analysis
19. Other Reports in this Series
List of Exhibits
Exhibit 1: Market Research Methodology
Exhibit 2: Customer Preference for Purchasing Insurance Products in Europe 2014
Exhibit 3: Distribution Channel for Insurance in Europe
Exhibit 4: Insurance Technology Market in Europe 2014-2019 ($ billions)
Exhibit 5: PEST Analysis for Insurance Industry
Exhibit 6: Technologies used in European Insurance Industry
Exhibit 7: Overview of Cloud Computing
Exhibit 8: Scope of Analytics in Insurance Industry in Europe
Exhibit 9: Social Media Users in Europe 2014 (millions)
Exhibit 10: Drivers for Mobility in Insurance Technology Market in Europe
Exhibit 11: Insurance Brokerage Market in Europe 2014-2019 ($ billions)
Exhibit 12: Non-life Insurance Market Segmentation by Product Type in France
Exhibit 13: Non-life Insurance Market Segmentation by Product Type in Germany
Exhibit 14: Non-life Insurance Market Segmentation by Product Type in Italy
Exhibit 15: Non-life Insurance Market Segmentation by Product Type in UK
Exhibit 16: Insurance Brokerage Value Chain Analysis
Exhibit 17: Accenture: Business Segmentation by Revenue 2013
Exhibit 18: Accenture: Business Segmentation by Revenue 2012 and 2013 (US$ million)
Exhibit 19: Accenture: Geographical Segmentation by Revenue 2013
Exhibit 20: EY: Business Segmentation by Revenue 2013
Exhibit 21: EY: Business Segmentation by Revenue 2012 and 2013 (US$ billion)
Exhibit 22: EY: Geographical Segmentation by Revenue 2013
Exhibit 23: HP: Business Segmentation by Revenue 2013
Exhibit 24: HP: Business Segmentation by Revenue 2012 and 2013 (US$ million)
Exhibit 25: HP: Geographical Segmentation by Revenue 2013
Exhibit 26: IBM: Business Segmentation
Exhibit 27: IBM: Revenue Segmentation by Business 2013
Exhibit 28: IBM: Revenue Segmentation 2013
Exhibit 29: IBM: Revenue Comparison of Business Segments 2012 and 2013 (US$ million)
Exhibit 30: IBM: Revenue Segmentation by Geography 2013
Exhibit 31: Mphasis : Business Segmentation by Revenue 2015
Exhibit 32: Mphasis : Business Segmentation by Revenue 2014 and 2015 ($ million)
Exhibit 33: Mphasis : Geographical Segmentation by Revenue 2015
Exhibit 34: Oracle: Business Segmentation by Revenue 2013
Exhibit 35: Oracle: Business Segmentation by Revenue 2012 and 2013 (US$ billions)
Exhibit 36: Oracle: Geographical Segmentation by Revenue 2013
Exhibit 37: Sopra Steria: Business Segmentation by Revenue 2014
Exhibit 38: Sopra Steria: Geographical Segmentation by Revenue 2014
