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European Insurance Technology Market Expected to Expand by USD 19.72 Billion from 2024-2028, Driven by AI and Rising Natural Hazards

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NEW YORK, Oct. 21, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The insurance technology market size in Europe is estimated to grow by USD 19.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 36.5% during the forecast period. Increasing need for insurance across european countries due to rising natural hazards is driving market growth, with a trend towards increasing collaborations between investors and insurance technology vendors in Europe. However, high cost of investment in insurance technology poses a challenge. Key market players include Akur8, Alan SA, Anorak Technologies Ltd., Charles Taylor Ltd., Descartes Underwriting SAS, Digital Fineprint Ltd., Duck Creek Technologies LLC, F2X Group Ltd., FRISS, Getsafe Digital GmbH, INZMO Europe GmbH, Majesco, Powszechny Zaklad Ubezpieczen Spolka Akcyjna Group, Qidenus Group GmbH, Qover SA, Quantemplate Technologies Inc., Shift Technology, simplesurance GmbH, wefox Insurance AG, and Xempus AG.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Insurance Technology Market Scope In Europe

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 36.5%

Market growth 2024-2028

USD 19720.9 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

26.88

Regional analysis

Europe

Performing market contribution

Europe at 100%

Key countries

UK, France, Germany, Italy, and Rest of Europe

Key companies profiled

Akur8, Alan SA, Anorak Technologies Ltd., Charles Taylor Ltd., Descartes Underwriting SAS, Digital Fineprint Ltd., Duck Creek Technologies LLC, F2X Group Ltd., FRISS, Getsafe Digital GmbH, INZMO Europe GmbH, Majesco, Powszechny Zaklad Ubezpieczen Spolka Akcyjna Group, Qidenus Group GmbH, Qover SA, Quantemplate Technologies Inc., Shift Technology, simplesurance GmbH, wefox Insurance AG, and Xempus AG

Market Driver

Investor interest in European insurance technology firms and technology-led insurance start-ups is surging due to the growing importance of insurance technology among insurance companies. In the next decade, the insurance industry is anticipated to transition entirely to digital platforms, eliminating the need for physical intervention. Vendors in the insurance technology sector are prioritizing consumer demand for customized insurance products and personalized services. Insurance technology facilitates tailored coverage for individuals, and the trend of purchasing insurance online is gaining traction in Europe. These factors have resulted in a rise in investor collaborations with insurance technology companies, which is expected to fuel the growth of the European insurance technology market during the forecast period. 

The European Insurance Technology market is experiencing a turning point with enterprise value reaching new heights. Venture capitalist investments in Insurtechs like Clark, Coya, Luko, GetSafe, SimpleInsurance, and others, have grown, with seed stage funding from unnamed family offices and Earlybird. Insurers are embracing Insurtechs through venture client models, investing in generative AI companies like Shift Technology, Tractable, Photocert, Mitiga, and Spotr. Traditional incumbents collaborate with B2C and B2B Insurtechs, using digital channels for faster processes and claims notifications. Premium growth and digital transformation drive the Insurance industry, with trends including augmented and virtual reality. Managing general agents and corporations also join the scene, seeking value propositions from Insurtechs. 

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Market Challenges

Insurance technology adoption in Europe presents challenges for firms in countries such as Germany, France, and Italy. High costs and the need for specialized training are major obstacles. Integration of technology with banks and brokers is ongoing, but managing these systems effectively requires technical expertise. Delaying technological investments can lead to business risks and loss of competitive edge. Start-ups and vendors face uncertainties in research projects, commercialization, and return on investment. The high cost of investment may hinder the growth of the insurance technology market in Europe during the forecast period. Insurance companies must invest in retraining employees, hiring trainers, and managing integration systems to stay competitive. Despite these challenges, the potential benefits of insurance technology, such as improved customer experience and operational efficiency, make it a worthwhile investment for the industry.The European Insurance Technology market is experiencing significant change as insurers seek to drive premium growth through digital transformation. Technology trends such as digital channels, claims notifications, and risk analysis are disrupting the industry. Insurtechs are gaining ground with their fast processes and innovative value propositions, challenging traditional incumbents. B2C and B2B insurtechs, managing general agents, tech companies, and fintechs are all vying for a piece of the action. Investment flows and funding volumes are on the rise, with tech companies and investors showing interest. Valuations are soaring on Nasdaq, reflecting the momentum in this space. The insurance industry ecosystem is evolving into a symbiotic relationship, with start-ups and ecosystems and networks offering combined value in healthcare, repairs and maintenance, and risk management. Customer demand for contextual data and prevention services is driving the need for more sophisticated risk analysis and replacement services. The availability of data and the performance of insurtechs will be key factors in determining the success of this dynamic industry.

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Segment Overview

This insurance technology market in Europe report extensively covers market segmentation by

Type1.1 Solution1.2 ServiceTechnology2.1 Cloud computing2.2 IoT2.3 Big data and business analytics2.4 Blockchain2.5 OthersGeography3.1 Europe

1.1 Solution- The European insurance technology market is experiencing significant growth due to the digital transformation of the insurance industry. Traditional methods are being replaced with customer-centric solutions, as insurers in both developing and mature markets move new and existing policies to digital platforms. Insurers are developing new products to meet evolving customer needs and prioritizing transparency. Effective data and risk management are crucial for underwriting accuracy and loss prediction, which InsurTech platforms facilitate. This leads to increased operational efficiency and product innovation, driving the growth of the insurance technology market in Europe.

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Research Analysis

The European Insurance Technology (Insurtech) market is experiencing significant growth, driven by the digital transformation of the insurance industry. Insurtechs are disrupting traditional insurance business models with innovative solutions that leverage technology trends such as digital channels, generative AI, and contextual data. These companies offer value-added services like claims notifications, risk analysis, prevention, replacement services, and healthcare platforms. Insurers are increasingly investing in insurtechs to enhance their offerings and remain competitive. Some innovative insurtechs include Shift Technology, Tractable, Photocert, Mitiga, and Spotr. Service companies are also integrating insurtech solutions to provide combined value to insurance clients. Venture client models and augmented/virtual reality technologies are also gaining traction in the market. Overall, the European Insurtech market is poised for continued growth as insurers seek to leverage technology to improve customer experience and operational efficiency.

Market Research Overview

The European Insurance Technology market is experiencing significant growth, driven by the digital transformation of the insurance industry. Traditional incumbents and innovative insurtechs are embracing technology trends such as digital channels, claims notifications, and risk analysis to enhance customer experience and streamline processes. Insurtechs are disrupting the market with their value proposition of fast processes and contextual data, leading to increased B2C and B2B demand. Investment flows into insurtechs have been great, with funding volumes reaching new heights. Tech companies, venture capitalists, and even unnamed family offices have shown interest, with valuations soaring on Nasdaq and other exchanges. Insurtechs are focusing on areas such as risk prevention, replacement services, and healthcare platforms. The insurance industry ecosystem is witnessing a symbiotic relationship between insurtechs and traditional insurers. Managing general agents and start-ups are collaborating to offer combined value to customers. Insurtech investments in areas like generative AI, augmented reality, and virtual reality are gaining momentum. Performance is a key focus, with insurtechs offering contextual data and innovative solutions for repairs and maintenance, risk management, and claims processing. The availability of data is driving the industry forward, with insurtechs and service companies leveraging technology to provide innovative solutions. Insurtech investments in Europe are expected to reach a turning point, with venture capitalist investments in seed stage and Series A startups on the rise. Key players include Clark, Coya, Luko, GetSafe, SimpleInsurance, and Thinksurance, among others. Tractable, Shift Technology, Photocert, Mitiga, and Spotr are some of the tech companies making waves in the industry. The traditional insurance industry is recognizing the importance of insurtechs and is adapting to the changing landscape. The industry is witnessing a shift towards venture client models and collaboration with insurtechs to stay competitive. The future of the European Insurance Technology market looks bright, with continued innovation and disruption expected.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeSolutionServiceTechnologyCloud ComputingIoTBig Data And Business AnalyticsBlockchainOthersGeographyEurope

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Lexmark Showcases New Printers and Technology Solutions for Retailers at NRF 2025

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NEW YORK, Jan. 12, 2025 /PRNewswire/ — Lexmark, a global imaging and IoT solutions leader, will showcase its cutting-edge, retail-ready printers and solutions at NRF 2025, Retail’s Big Show and Expo, Jan. 12 to 14, at the Jacob K. Javits Center in New York. The Lexmark showcase will be in booth #6321.

“Lexmark kicks off the year with a bang by showcasing our latest 9-Series family of A3 printers and MFPs at NRF for the first time,” said Tim Speller, Lexmark’s head of retail and manufacturing. “These sophisticated devices will usher in a new era of opportunity for retailers to maximize operational efficiency while increasing sales.”

Here’s what will be on display in Lexmark booth #6321:

New Lexmark 9-Series printers and MFPs are designed for challenging retail environments

Built by evolving Lexmark’s renowned A4 technology, the 9-Series delivers versatility, simplicity and sustainability. These solutions are easy to use and manage – perfect for any retail salesfloor or back office.

Key highlights of 9-Series:

Versatile and easy to use. The 9-Series offers a broad range of media size support (A6 to SRA3), high-volume duty cycles, a common set of modular paper-handling options, finishing capabilities and professional color features including PANTONE® calibration.Simple and easy to manage. The 9-Series’ intuitive interface streamlines workflows by providing simple instructions and prompts. For routine maintenance, toner cartridges can be replaced with one hand, easily understood visual cues are displayed, and serviceable areas are easy to access and identify.Sustainable and easy to feel good about. The 9-Series’ total post-consumer recycled (PCR) content is 56% by weight for all base-model MFPs and 73% by weight for the line’s base-model printer, based on IEEE calculation procedures. *Built to last. The 9-Series is designed and built to last seven years or more. Having few components helps reduce the likelihood of technical failure while also minimizing the service time required for repairs and maintenance. Experienced technicians can perform most common service actions, even highly complex tasks, in less than 15 minutes, according to Lexmark testing.

Lexmark Engagement Automation Platform (LEAP) helps retailers drive sales and foot traffic with hyper-local social media ads

LEAP automates one-to-one promotions that drive footfall to local stores. Store leaders can trigger hyper-personalized sale posts and boost ads based on individual store inventory conditions through loyalty program apps and social media platforms like Facebook and Instagram. With advanced analytics and reporting capabilities, LEAP provides the insights needed to measure success and make data-driven decisions.

Key highlights of LEAP:

Engagement: To engage shoppers, center promotions around customer buying patterns with an engagement automation platform that posts localized content – such as store-specific offers, events and locally grown produce initiatives.

Automation: Schedule and manage automatic localization and delivery of corporate promotional messaging with an engagement automation platform to reach consumers through social media with hyper-local content around each store or audience region.

Loyalty: Attract local customers with an engagement automation platform that sends store- and corporate-initiated offers to geo-fenced social media apps like Facebook and Instagram and loyalty program applications.

Supporting resources

Learn more about Lexmark’s booth at NRF 2025.

Read Lexmark’s NRF blog.

Schedule a booth meeting with our retail experts during NRF 2025.

Get more details about the Lexmark 9-Series.

Get more details about the Lexmark Engagement Automation Platform (LEAP).

Watch a video about LEAP.

Get the details on NRF 2025.

Follow us on LinkedIn for live NRF updates.

About Lexmark

Lexmark creates cloud-enabled imaging and IoT technologies that help customers worldwide quickly realize business outcomes. Through a powerful combination of proven technologies and deep industry expertise, Lexmark accelerates business transformation, turning information into insights, data into decisions, and analytics into action.

Lexmark and the Lexmark logo are trademarks of Lexmark International, Inc., registered in the United States and/or other countries. All other trademarks are property of their respective owners.

* PCR content measured in accordance with IEEE Std 1680.2a™ – 2017 Standard for Environmental Assessment of Imaging Equipment – Amendment 1 — which is the standard used by EPEAT.

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SOURCE Lexmark

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Pricer and Focal Systems Announce Strategic Collaboration to Drive the Next Step in Physical Store Digitalization

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Pricer, a global leader in digital shelf-edge solutions, and Focal Systems, a leader in shelf-edge AI, today announced a strategic collaboration to accelerate the digitization and optimization of the physical store for retailers worldwide.

STOCKHOLM, Jan. 12, 2025 /PRNewswire/ — This collaboration brings together Pricer’s innovations in dynamic pricing and shelf-edge communication with Focal Systems’ advanced computer vision and product availability solutions to maximize shopper satisfaction while optimizing retail operations.

As a pioneer in enabling dynamic pricing and digitizing shelf-edge shopper communication, Pricer has led the first step of the retail digitalization journey. Focal Systems has pioneered the application of computer vision to digitizing what products are available on-shelf or not in near real-time. Together, Pricer and Focal Systems will empower retailers to improve labor efficiency, reduce out-of-stocks, increase sales, and enhance shopper satisfaction like never before.

Enhancing the Shelf Edge Through Collaboration

By integrating Focal Systems’ AI-powered shelf vision cameras with Pricer’s leading electronic shelf label (ESL) platform, retailers will benefit from:

Real-Time Shelf Insights: Automated detection and alerting of out-of-stock or low items powering rapid replenishment and increased shopper satisfactionDynamic Task Automation: Streamlined workflows and prioritized tasks to improve operational efficiency for store staff.Patented Innovation: Camera-based out of stock detection and communication, flashing ESLs, alternate location communication.Seamless Integration: Standardized API connections that deliver out-of-the-box value, offering synchronized ESL flashes, messaging updates, and shelf-edge intelligence.

Together, Pricer and Focal Systems demonstrate that the combined offerings deliver measurable value for the retailers by enabling a fully digitalized shelf-edge ecosystem.

Strategic Collaboration for the Future of Retail

“We are proud to combine our leadership in ESL technology with Focal Systems’ AI-powered shelf vision,” said Chris Chalkitis, CDO at Pricer. “Both companies share a belief in the digitalization of the physical store. Pricer has been a pioneer in dynamic pricing and shelf-edge communication. With Focal Systems, we take the next step, digitizing what’s on the shelf – and what’s not – to drive greater efficiency and performance for retailers.”

Focal Systems’ AI technology transforms retail operations through real-time shelf monitoring and replenishment task optimization.

“Partnering with Pricer, a global leader with groundbreaking ESL technology and innovation, creates tremendous value for retailers,” said Kevin H. Johnson, CEO at Focal Systems. “Together, we deliver an integrated, data-driven solution that reduces operational complexity, automates workflows, and enhances the in-store experience. We look forward to demonstrating this powerful collaboration to retailers and their customers.”

Showcasing the Future at NRF 2025

The collaboration will officially debut at the National Retail Federation (NRF) Big Show in January 2025, where Pricer and Focal Systems will showcase the integrated solution at Pricer’s booth. This marks the beginning of an exciting journey to redefine the shelf edge and set new standards for retail innovation.

For further information, please contact:
Chris Chalkitis, Chief Digital Officer, +46 70 4849812
Finn Wikander, Chief Product Officer, +46 705 233077
info@pricer.com

About Pricer

Pricer is a leading global provider of digital shelf-edge solutions, helping retailers optimize pricing, improve operational efficiency, and enhance the customer experience. With patented innovations like camera-based product identification by ESL, Pricer continues to set the standard for dynamic, intelligent shelf-edge solutions. For more information, visit www.pricer.com.

About Focal Systems

Focal Systems is a leading provider of AI-powered computer vision solutions, helping retailers automate operations and optimize product availability through real-time shelf monitoring. Its advanced technology delivers actionable insights that drive efficiency and profitability. For more information, visit www.focal.systems.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/pricer/r/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-d,c4090287

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Blue Owl Capital Expands Tennis Player Sponsorship to All Grand Slam Tournaments in 2025

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Blue Owl to place logo patches on dozens of athletes competing across the Australian Open,
French Open, Wimbledon, and US Open

Jordan Thompson named as Blue Owl’s dedicated athlete ambassador for the Australian Open

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today a marquee sponsorship agreement to expand their presence at all Grand Slam tournaments in 2025 and become the exclusive financial services partner for professional tennis’ Player Patch Program.

Blue Owl’s logo will be featured on the shirt of select players competing across men’s singles, women’s singles, mixed doubles, men’s doubles and women’s doubles competitions at this year’s Australian Open, French Open, Wimbledon, and US Open tournaments. In addition to Blue Owl’s presence on the courts, the firm will be featured in iconic Melbourne transit hubs, social media and digital media during the Australian Open in an effort to raise brand awareness within the country and the broader APAC market.

Blue Owl Chief Marketing Officer Suzanne Escousse said, “Just as Blue Owl is redefining alternative investing, we are supporting established and emerging professional players who are redefining the game of tennis. Tennis is a truly worldwide sport requiring peak performance in critical, high-pressure moments. This is the same ethos that underpins Blue Owl and allows us to focus on delivering results for our international client base. Following the success of our involvement with the Patch Program at the 2024 US Open, and given Blue Owl’s established presence within the country, Australia is the perfect place to kick off our presence across Grand Slam tournaments.”

Blue Owl has also partnered with Australian tennis professional Jordan Thompson, who will serve as the firm’s Athlete Ambassador at the 2025 Australian Open – January 12-26 in Melbourne. Most recently, Thompson won the men’s doubles at the 2024 US Open, where he was wearing a Blue Owl patch, and was a men’s doubles finalist at Wimbledon in 2024. He has also registered victories over several top-10-ranked opponents in singles competitions and previously represented Australia at the Olympics and the Davis Cup. Thompson will be one of several competitors wearing Blue Owl’s logo throughout the tournament.

Jordan Thompson said: “Blue Owl is focused on delivering excellence for its clients, which makes it a great fit for a partnership with professional tennis players. Support from firms like Blue Owl is tremendously beneficial for players who are preparing for career-defining events, especially the four Grand Slams. Our shared core values, including striving for success in every step of our journeys, whether that be in the financial services industry or competing as a professional athlete, is a perfect match. Alongside my coaches, my doubles teammate(s) and tennis fans, Blue Owl will play a key role for me here in Melbourne at the 2025 Australian Open.”

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

Media Contact

Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

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SOURCE Blue Owl Capital

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