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Artificial intelligence (AI) plays a key role in insurance scam detection by detecting false claims. As a result, insurers can achieve an efficient and effective claims management system. Insurance AI algorithms can analyze huge amounts of data rapidly to find patterns and spot anomalies that don't fit the patterns.
Global Artificial Intelligence (AI) in Insurance market is projected to reach US$ 1123.1 million in 2029, increasing from US$ 469 million in 2022, with the CAGR of 15.3% during the period of 2023 to 2029. Influencing issues, such as economy environments, COVID-19 and Russia-Ukraine War, have led to great market fluctuations in the past few years and are considered comprehensively in the whole Artificial Intelligence (AI) in Insurance market research.
China and the United States are two leaders in AI industry. On the AI 100 list (2022) released by CB Insights, the number of companies in the United States ranks first, with more than 70 companies, followed by the United Kingdom, with 8 companies on the list. China and Canada both holds 5 companies on the list. According to data from the China Academy of Information and Communications Technology, the scale of China's core artificial intelligence industry reached ¥508 billion in 2022, a year-on-year increase of 18%. From 2013 to November 2022, the cumulative number of patent applications for artificial intelligence inventions in the world reached 729,000, and the cumulative number of applications in China reached 389,000, accounting for 53.4%. However, the Global Artificial Intelligence Innovation Index Report 2021 released by the China Institute of Scientific and Technological Information shows that the overall strength of the United States is still far ahead. The number of artificial intelligence companies in the United States is about 4,670, while China has only 880. China's data center is less than 1/68 of that of the United States.
Report Scope
This report, based on historical analysis (2018-2022) and forecast calculation (2023-2029), aims to help readers to get a comprehensive understanding of global Artificial Intelligence (AI) in Insurance market with multiple angles, which provides sufficient supports to readers’ strategy and decision making.
By Company
- Microsoft Corporation
- Amazon Web Services Inc
- IBM Corporation
- Avaamo Inc
- Baidu Inc
- Cape Analytics LLC
- Oracle Corporation
Segment by Type
- Software
- Platform
Segment by Application
- Life Insurance
- Car Insurance
- Property Insurance
- Other
By Region
- North America (United States, Canada)
- Europe (Germany, France, U.K., Italy, Russia)
- Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
- Latin America (Mexico, Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, UAE)
The Artificial Intelligence (AI) in Insurance report covers below items:
Chapter 1: Product Basic Information (Definition, Type and Application)
Chapter 2: Global market size, regional market size. Market Opportunities and Challenges
Chapter 3: Companies’ Competition Patterns
Chapter 4: Product Type Analysis
Chapter 5: Product Application Analysis
Chapter 6 to 10: Country Level Value Analysis
Chapter 11: Companies' Outline
Chapter 12: Market Conclusions
Chapter 13: Research Methodology and Data Source
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Artificial Intelligence (AI) in Insurance Market Size Growth Rate by Type: 2018 VS 2022 VS 2029
1.2.2 Software
1.2.3 Platform
1.3 Market by Application
1.3.1 Global Artificial Intelligence (AI) in Insurance Market Growth by Application: 2018 VS 2022 VS 2029
1.3.2 Life Insurance
1.3.3 Car Insurance
1.3.4 Property Insurance
1.3.5 Other
1.4 Study Objectives
1.5 Years Considered
1.6 Years Considered
2 Global Growth Trends
2.1 Global Artificial Intelligence (AI) in Insurance Market Perspective (2018-2029)
2.2 Artificial Intelligence (AI) in Insurance Growth Trends by Region
2.2.1 Global Artificial Intelligence (AI) in Insurance Market Size by Region: 2018 VS 2022 VS 2029
2.2.2 Artificial Intelligence (AI) in Insurance Historic Market Size by Region (2018-2023)
2.2.3 Artificial Intelligence (AI) in Insurance Forecasted Market Size by Region (2024-2029)
2.3 Artificial Intelligence (AI) in Insurance Market Dynamics
2.3.1 Artificial Intelligence (AI) in Insurance Industry Trends
2.3.2 Artificial Intelligence (AI) in Insurance Market Drivers
2.3.3 Artificial Intelligence (AI) in Insurance Market Challenges
2.3.4 Artificial Intelligence (AI) in Insurance Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Artificial Intelligence (AI) in Insurance Players by Revenue
3.1.1 Global Top Artificial Intelligence (AI) in Insurance Players by Revenue (2018-2023)
3.1.2 Global Artificial Intelligence (AI) in Insurance Revenue Market Share by Players (2018-2023)
3.2 Global Artificial Intelligence (AI) in Insurance Market Share by Company Type (Tier 1, Tier 2, and Tier 3)
3.3 Players Covered: Ranking by Artificial Intelligence (AI) in Insurance Revenue
3.4 Global Artificial Intelligence (AI) in Insurance Market Concentration Ratio
3.4.1 Global Artificial Intelligence (AI) in Insurance Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Artificial Intelligence (AI) in Insurance Revenue in 2022
3.5 Artificial Intelligence (AI) in Insurance Key Players Head office and Area Served
3.6 Key Players Artificial Intelligence (AI) in Insurance Product Solution and Service
3.7 Date of Enter into Artificial Intelligence (AI) in Insurance Market
3.8 Mergers & Acquisitions, Expansion Plans
4 Artificial Intelligence (AI) in Insurance Breakdown Data by Type
4.1 Global Artificial Intelligence (AI) in Insurance Historic Market Size by Type (2018-2023)
4.2 Global Artificial Intelligence (AI) in Insurance Forecasted Market Size by Type (2024-2029)
5 Artificial Intelligence (AI) in Insurance Breakdown Data by Application
5.1 Global Artificial Intelligence (AI) in Insurance Historic Market Size by Application (2018-2023)
5.2 Global Artificial Intelligence (AI) in Insurance Forecasted Market Size by Application (2024-2029)
6 North America
6.1 North America Artificial Intelligence (AI) in Insurance Market Size (2018-2029)
6.2 North America Artificial Intelligence (AI) in Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029
6.3 North America Artificial Intelligence (AI) in Insurance Market Size by Country (2018-2023)
6.4 North America Artificial Intelligence (AI) in Insurance Market Size by Country (2024-2029)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Artificial Intelligence (AI) in Insurance Market Size (2018-2029)
7.2 Europe Artificial Intelligence (AI) in Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029
7.3 Europe Artificial Intelligence (AI) in Insurance Market Size by Country (2018-2023)
7.4 Europe Artificial Intelligence (AI) in Insurance Market Size by Country (2024-2029)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Nordic Countries
8 Asia-Pacific
8.1 Asia-Pacific Artificial Intelligence (AI) in Insurance Market Size (2018-2029)
8.2 Asia-Pacific Artificial Intelligence (AI) in Insurance Market Growth Rate by Region: 2018 VS 2022 VS 2029
8.3 Asia-Pacific Artificial Intelligence (AI) in Insurance Market Size by Region (2018-2023)
8.4 Asia-Pacific Artificial Intelligence (AI) in Insurance Market Size by Region (2024-2029)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia
9 Latin America
9.1 Latin America Artificial Intelligence (AI) in Insurance Market Size (2018-2029)
9.2 Latin America Artificial Intelligence (AI) in Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029
9.3 Latin America Artificial Intelligence (AI) in Insurance Market Size by Country (2018-2023)
9.4 Latin America Artificial Intelligence (AI) in Insurance Market Size by Country (2024-2029)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Artificial Intelligence (AI) in Insurance Market Size (2018-2029)
10.2 Middle East & Africa Artificial Intelligence (AI) in Insurance Market Growth Rate by Country: 2018 VS 2022 VS 2029
10.3 Middle East & Africa Artificial Intelligence (AI) in Insurance Market Size by Country (2018-2023)
10.4 Middle East & Africa Artificial Intelligence (AI) in Insurance Market Size by Country (2024-2029)
10.5 Turkey
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Google
11.1.1 Google Company Detail
11.1.2 Google Business Overview
11.1.3 Google Artificial Intelligence (AI) in Insurance Introduction
11.1.4 Google Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.1.5 Google Recent Development
11.2 Microsoft Corporation
11.2.1 Microsoft Corporation Company Detail
11.2.2 Microsoft Corporation Business Overview
11.2.3 Microsoft Corporation Artificial Intelligence (AI) in Insurance Introduction
11.2.4 Microsoft Corporation Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.2.5 Microsoft Corporation Recent Development
11.3 Amazon Web Services Inc
11.3.1 Amazon Web Services Inc Company Detail
11.3.2 Amazon Web Services Inc Business Overview
11.3.3 Amazon Web Services Inc Artificial Intelligence (AI) in Insurance Introduction
11.3.4 Amazon Web Services Inc Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.3.5 Amazon Web Services Inc Recent Development
11.4 IBM Corporation
11.4.1 IBM Corporation Company Detail
11.4.2 IBM Corporation Business Overview
11.4.3 IBM Corporation Artificial Intelligence (AI) in Insurance Introduction
11.4.4 IBM Corporation Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.4.5 IBM Corporation Recent Development
11.5 Avaamo Inc
11.5.1 Avaamo Inc Company Detail
11.5.2 Avaamo Inc Business Overview
11.5.3 Avaamo Inc Artificial Intelligence (AI) in Insurance Introduction
11.5.4 Avaamo Inc Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.5.5 Avaamo Inc Recent Development
11.6 Baidu Inc
11.6.1 Baidu Inc Company Detail
11.6.2 Baidu Inc Business Overview
11.6.3 Baidu Inc Artificial Intelligence (AI) in Insurance Introduction
11.6.4 Baidu Inc Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.6.5 Baidu Inc Recent Development
11.7 Cape Analytics LLC
11.7.1 Cape Analytics LLC Company Detail
11.7.2 Cape Analytics LLC Business Overview
11.7.3 Cape Analytics LLC Artificial Intelligence (AI) in Insurance Introduction
11.7.4 Cape Analytics LLC Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.7.5 Cape Analytics LLC Recent Development
11.8 Oracle Corporation
11.8.1 Oracle Corporation Company Detail
11.8.2 Oracle Corporation Business Overview
11.8.3 Oracle Corporation Artificial Intelligence (AI) in Insurance Introduction
11.8.4 Oracle Corporation Revenue in Artificial Intelligence (AI) in Insurance Business (2018-2023)
11.8.5 Oracle Corporation Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.2 Data Source
13.2 Disclaimer
Published By : QY Research
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