Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Insurance Agency Software Market to Reach $6.7 Billion, Globally, by 2032 at 7.8% CAGR: Allied Market Research

This image opens in the lightbox

News provided by

Allied Market Research

06 Aug, 2024, 14:30 GMT

Share this article

Share toX

Share this article

Share toX

Increased awareness and information about the importance and benefits of insurance in these countries has led to higher adoption of these services, which, in turn is fueling the global insurance agency software market growth. 

WILMINGTON, Del., Aug. 6, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Insurance Agency Software Market by Deployment Mode (Cloud-Based and On-Premises), Enterprise Size (Large Enterprise and SMEs), and Application (Claims Management, Commission Management, Contract Management, Document Management, Insurance Rating, Quote Management and Policy Management): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the insurance agency software market was valued at $3.4 billion in 2023, and is estimated to reach $6.7 billion by 2032, growing at a CAGR of 7.8% from 2024 to 2032.

Get Your Sample Report & TOC Today: https://www.alliedmarketresearch.com/request-sample/A323730

(We are providing report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and COVID-19 Impact Analysis)

132 – Tables  

60 – Charts 

150 – Pages

Prime determinants of growth   

The global insurance agency software market is experiencing significant growth due to rise in demand for accurate premium calculations, enhanced customer experience, and streamlined underwriting processes. Regulatory and compliance requirements are driving the adoption of advanced rating software, while the digital transformation in the insurance sector, along with AI and ML integration, offers lucrative opportunities for market growth. However, high implementation costs and the complexity of integrating new systems with existing IT infrastructure pose challenges. Despite these hurdles, the growing adoption of cloud-based solutions and a focus on customization and scalability are expected to drive the market growth during the forecast period.  

Report coverage & details:  

Report Coverage

Details 

Forecast Period

2024–2032

Base Year

2023

Market Size in 2023

$3.4 billion 

Market Size in 2032

$6.7 billion 

CAGR 

7.8 %

No. of Pages in Report

200

Segments Covered

Deployment Mode, Enterprise Size, Application, and Region.  

Drivers 

  • Increase in Demand for Efficient Policy Management and Customer Service Enhancement   
  • Regulatory Compliance and Risk Management                     
  • Technological Advancements 

 

Opportunities 

  • Integration of Advanced Technologies like AI and Machine Learning for Improved Service Delivery 

 

Restraint 

  • Concerns over Data Security and Privacy in Cloud-Based Solutions   

 

Purchase This Comprehensive 150-Page Report (PDF with Insights, Charts, Tables, and Figures) @  https://bit.ly/3Ws6hqk

The cloud segment held the highest share of the Insurance agency software market in 2023.  

Based on deployment mode, the cloud segment held the highest market share in 2023, accounting for around three-fifth of the global Insurance agency software market revenue and is likely to retain its dominance during the forecast period. Insurance Cloud computing makes it simple for insurance businesses to undergo digital change, which is driving revenue growth of this segment. One of the most significant services that insurance companies can gain from cloud computing is analytics. Use of analytics improves the effectiveness of procedures such as underwriting, risk assessment, fraud discovery, and customer happiness evaluation.  

The large enterprise segment held the highest share of the insurance agency software market in 2023.  

Based on enterprise size, the large enterprise segment held the highest market share in 2023, accounting for more than half of the global Insurance agency software market revenue and is likely to retain its dominance during the forecast period. This can be attributed to the fact that large enterprises typically deal with a vast array of insurance products, necessitating robust systems that can handle high volumes of transactions, extensive customer data, and intricate policy management. Insurance agency software tailored for large businesses often includes advanced features like multi-user access, extensive database capabilities, and integrated analytics, which are critical for managing the diverse and complex operations of these enterprises. Moreover, large businesses are more likely to have the necessary financial resources to invest in premium software solutions that offer enhanced security, compliance with various regulations, and superior customer service functionalities. This investment capacity also extends to customization, allowing large businesses to tailor the software to their specific operational needs, which is a significant driver for this segment's market share. 

The policy management segment held the highest share in Insurance agency software market in 2023.  

Based on application, the policy management segment held the highest market share in 2023, accounting for nearly two-fifth of the global Insurance agency software market revenue and is likely to retain its dominance during the forecast period. The proliferation of digital technologies has set new standards in customer experience, prompting insurance companies to invest in innovative solutions for policy management. These advancements facilitate the streamlining of complex policy processes, enabling faster processing, better compliance tracking, and more accurate risk assessments. 

Access Your Customized Sample Report & TOC Now: https://www.alliedmarketresearch.com/request-for-customization/A323730

North America to maintain its dominance by 2032.  

Based on region, North America held the highest market share in terms of revenue in 2023, accounting for around two-fifth of the global Insurance agency software. Growing expenditures in R&D and technical improvements in the area are primarily responsible for the market's revenue growth in North America. Strict regulations, growing consumer needs, technological focus, innovation, industrial stability, and affordability will all significantly contribute to the expansion of Insurance agency software in this area during the course of the projection period. 

Players: - 

  • Applied Systems Inc.
  • Vertafore, Inc.
  • EZLynx
  • HawkSoft
  • Sapiens International Corporation
  • QQ Solutions, Inc.
  • Jenesis Software
  • AgencyBloc, LLC
  • Buckhill Ltd.
  • XDimensional Technologies, Inc.

The report provides a detailed analysis of these key players in the global insurance agency software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Get More Information Before Buying:https://www.alliedmarketresearch.com/purchase-enquiry/A323730

Insurance Agency Software Market Key Segments:

By Deployment Mode

  • Cloud-Based
  • On-Premise

By Enterprise Size

  • Large Enterprise
  • SMEs

By Application

  • Claims Management
  • Commission Management
  • Contract Management
  • Document Management
  • Insurance Rating
  • Quote Management
  • Policy Management

By Region

  • North America (U.S., Canada)
  • Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA (Latin America, Middle East, Africa)

Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):

Insurance Analytics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, Deployment Type, Enterprise Size, Application, End User : Global Opportunity Analysis and Industry Forecast, 2020-2027

Insurance Advertising Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product Type, by Advertising Channels, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

Insurance Fraud Detection Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, by Deployment Mode, by Enterprise Size, by Applications : Global Opportunity Analysis and Industry Forecast, 2021-2031

Insurance Brokerage Market Size, Share, Competitive Landscape and Trend Analysis Report, by Insurance Type, by Brokerage Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

Insurance BPO Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Enterprise Size, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Modal title

Also from this source

Citrus Aurantium Extract Market to Reach $4,339.2 Million by 2027 in short term and $5,671.7 million by 2034 Globally, at 3.8% CAGR: Allied Market Research

Citrus Aurantium Extract Market to Reach $4,339.2 Million by 2027 in short term and $5,671.7 million by 2034 Globally, at 3.8% CAGR: Allied Market Research

Allied Market Research published a report, titled, "Citrus Aurantium Extract Market - Global Opportunity Analysis and Industry Forecast, 2025-2034",...

Speech-To-Text API Market to Reach $5 Billion by 2024 in the Short Term and $21 Billion by 2034 Globally, at 15.2% CAGR: Allied Market Research

Speech-To-Text API Market to Reach $5 Billion by 2024 in the Short Term and $21 Billion by 2034 Globally, at 15.2% CAGR: Allied Market Research

Allied Market Research published a report titled, "Speech-to-text API Market - Global Opportunity Analysis and Industry Forecast, 2024-2034," valued...

More Releases From This Source

Explore

Computer & Electronics

Computer & Electronics

Insurance

Insurance

Banking & Financial Services

Banking & Financial Services

News Releases in Similar Topics

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.