AI in Insurance Market

Research Methodology on AI in Insurance Market

1. Introduction

The Artificial Intelligence in Insurance Market report provides an in-depth analysis of the current state of affairs in the market and examines the factors driving competitive dynamics along with the growth opportunities of the market rising from them. The primary objective of this report is to identify the key factors driving the market growth and their relative impact, to quantify the size and potential of this market.

The research methodology used in this report is based on primary and secondary sources of information, market surveys, interviews with industry participants, and key opinion leaders. In the secondary data source, MRFR collected information from published publications, government websites, proprietary databases, and other published reports. In the primary data source, data is collected from C-level executives and industry professionals from relevant sectors who are engaged directly or indirectly in Artificial Intelligence in the Insurance market.

2. Research Design

Data is sourced from reliable and valid sources from both primary and secondary sources. The research involves both qualitative and quantitative perspectives. Interviews were conducted using structured questionnaires with participants from different levels of the industry. The primary data is trusted and verified against other available sources for triangulation purposes and to have a more comprehensive view of the market. The research process involves data collection and analysis through a variety of procedures, including interviews and surveys, as well as secondary research.

MRFR conducted interviews with key industry players and performed in-depth analysis and validation of data collected through such interviews to identify the key trends and opinions in the market. The research team conducted ten in-depth interviews with key executives, industry experts, and potential market players in order to gain their insights and validate their perspectives.

The quantitative analysis used in the research is based on secondary and primary data gathered from reliable sources. Statistically relevant conclusions were drawn from the data gathered through primary research interviews, survey studies and from secondary sources from reliable sources. Descriptive and analytical information is collected from industry experts, industry players, and other stakeholders.

3. Market Segmentation

Artificial Intelligence in the Insurance market has been segmented based on component, technology, deployment mode, insurance sector, and region. The component segment is further categorized into solutions, platforms, and services. The technology segment is further segmented into machine learning, natural language processing, context awareness, computer vision, and others. The deployment mode is further segmented into cloud and on-premise. The insurance sector segment is further segmented into property and casualty insurance, health insurance, life insurance, and others.

4. Geographical Scope

The research report considers the global Artificial Intelligence in the Insurance market to be segmented into North America, Europe, Asia-Pacific, and the Rest of the World.

North America region consists of the U.S., Canada, and Mexico.

The European region comprises Germany, France, the U.K., Italy, Spain, Netherlands, and the Rest of Europe.

The Asia Pacific region includes China, India, Japan, South Korea, and the Rest of Asia Pacific.

The Rest of the World consists of South America, the Middle East and Africa.

5. Data Analysis

Demographic parameters such as age, gender, and income level are also analyzed to gain insights into the buying patterns of customers. Various exploratory information analysis techniques are adopted such as Descriptive Analysis, regression analysis, historical trends analysis and forecasting, correlation analysis and factor analysis.

AI in Insurance Market Segmentation

• AI in Insurance Market By Application (USD Billion, 2019-2035)

  • Fraud Detection

  • Underwriting

  • Claims Processing

  • Customer Service

  • Risk Assessment

• AI in Insurance Market By Technology (USD Billion, 2019-2035)

  • Machine Learning

  • Natural Language Processing

  • Computer Vision

  • Robotic Process Automation

• AI in Insurance Market By Deployment Type (USD Billion, 2019-2035)

  • On-Premises

  • Cloud-Based

• AI in Insurance Market By End Use (USD Billion, 2019-2035)

  • Life Insurance

  • Health Insurance

  • Property and Casualty Insurance

  • Automobile Insurance

• AI in Insurance Market By Regional (USD Billion, 2019-2035)

  • North America

  • Europe

  • South America

  • Asia Pacific

  • Middle East and Africa

AI in Insurance Market Regional Outlook (USD Billion, 2019-2035)

• North America Outlook (USD Billion, 2019-2035)

  • North America AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • North America AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • North America AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • North America AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • North America AI in Insurance Market by Regional Type

    • US

    • Canada

  • US Outlook (USD Billion, 2019-2035)

  • US AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • US AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • US AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • US AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • CANADA Outlook (USD Billion, 2019-2035)

  • CANADA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • CANADA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • CANADA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • CANADA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

• Europe Outlook (USD Billion, 2019-2035)

  • Europe AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • Europe AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • Europe AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • Europe AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • Europe AI in Insurance Market by Regional Type

    • Germany

    • UK

    • France

    • Russia

    • Italy

    • Spain

    • Rest of Europe

  • GERMANY Outlook (USD Billion, 2019-2035)

  • GERMANY AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • GERMANY AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • GERMANY AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • GERMANY AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • UK Outlook (USD Billion, 2019-2035)

  • UK AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • UK AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • UK AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • UK AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • FRANCE Outlook (USD Billion, 2019-2035)

  • FRANCE AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • FRANCE AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • FRANCE AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • FRANCE AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • RUSSIA Outlook (USD Billion, 2019-2035)

  • RUSSIA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • RUSSIA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • RUSSIA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • RUSSIA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • ITALY Outlook (USD Billion, 2019-2035)

  • ITALY AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • ITALY AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • ITALY AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • ITALY AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • SPAIN Outlook (USD Billion, 2019-2035)

  • SPAIN AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • SPAIN AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • SPAIN AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • SPAIN AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • REST OF EUROPE Outlook (USD Billion, 2019-2035)

  • REST OF EUROPE AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • REST OF EUROPE AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • REST OF EUROPE AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • REST OF EUROPE AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

• APAC Outlook (USD Billion, 2019-2035)

  • APAC AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • APAC AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • APAC AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • APAC AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • APAC AI in Insurance Market by Regional Type

    • China

    • India

    • Japan

    • South Korea

    • Malaysia

    • Thailand

    • Indonesia

    • Rest of APAC

  • CHINA Outlook (USD Billion, 2019-2035)

  • CHINA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • CHINA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • CHINA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • CHINA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • INDIA Outlook (USD Billion, 2019-2035)

  • INDIA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • INDIA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • INDIA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • INDIA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • JAPAN Outlook (USD Billion, 2019-2035)

  • JAPAN AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • JAPAN AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • JAPAN AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • JAPAN AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • SOUTH KOREA Outlook (USD Billion, 2019-2035)

  • SOUTH KOREA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • SOUTH KOREA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • SOUTH KOREA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • SOUTH KOREA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • MALAYSIA Outlook (USD Billion, 2019-2035)

  • MALAYSIA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • MALAYSIA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • MALAYSIA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • MALAYSIA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • THAILAND Outlook (USD Billion, 2019-2035)

  • THAILAND AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • THAILAND AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • THAILAND AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • THAILAND AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • INDONESIA Outlook (USD Billion, 2019-2035)

  • INDONESIA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • INDONESIA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • INDONESIA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • INDONESIA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • REST OF APAC Outlook (USD Billion, 2019-2035)

  • REST OF APAC AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • REST OF APAC AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • REST OF APAC AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • REST OF APAC AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

• South America Outlook (USD Billion, 2019-2035)

  • South America AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • South America AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • South America AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • South America AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • South America AI in Insurance Market by Regional Type

    • Brazil

    • Mexico

    • Argentina

    • Rest of South America

  • BRAZIL Outlook (USD Billion, 2019-2035)

  • BRAZIL AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • BRAZIL AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • BRAZIL AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • BRAZIL AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • MEXICO Outlook (USD Billion, 2019-2035)

  • MEXICO AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • MEXICO AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • MEXICO AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • MEXICO AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • ARGENTINA Outlook (USD Billion, 2019-2035)

  • ARGENTINA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • ARGENTINA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • ARGENTINA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • ARGENTINA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • REST OF SOUTH AMERICA Outlook (USD Billion, 2019-2035)

  • REST OF SOUTH AMERICA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • REST OF SOUTH AMERICA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • REST OF SOUTH AMERICA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • REST OF SOUTH AMERICA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

• MEA Outlook (USD Billion, 2019-2035)

  • MEA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • MEA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • MEA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • MEA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • MEA AI in Insurance Market by Regional Type

    • GCC Countries

    • South Africa

    • Rest of MEA

  • GCC COUNTRIES Outlook (USD Billion, 2019-2035)

  • GCC COUNTRIES AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • GCC COUNTRIES AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • GCC COUNTRIES AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • GCC COUNTRIES AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • SOUTH AFRICA Outlook (USD Billion, 2019-2035)

  • SOUTH AFRICA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • SOUTH AFRICA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • SOUTH AFRICA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • SOUTH AFRICA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance

  • REST OF MEA Outlook (USD Billion, 2019-2035)

  • REST OF MEA AI in Insurance Market by Application Type

    • Fraud Detection

    • Underwriting

    • Claims Processing

    • Customer Service

    • Risk Assessment

  • REST OF MEA AI in Insurance Market by Technology Type

    • Machine Learning

    • Natural Language Processing

    • Computer Vision

    • Robotic Process Automation

  • REST OF MEA AI in Insurance Market by Deployment Type

    • On-Premises

    • Cloud-Based

  • REST OF MEA AI in Insurance Market by End Use Type

    • Life Insurance

    • Health Insurance

    • Property and Casualty Insurance

    • Automobile Insurance