SS&C to Acquire Capita’s Life Insurance and Pensions Servicing Business

Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An“, the “Group” or the “Company”, HKEx:2318; SSE:601318) announced that Ping An Technology (Shenzhen) Co., Ltd. (Ping An Technology) ranked 8th globally with 1,691 patent applications in the 2019 Patent Cooperation Treaty (PCT) international patent applications released by the World Intellectual Property Organization (WIPO).

Ping An Technology’s patent applications included 679 in artificial intelligence (AI), 58 in blockchain and 48 in cloud computing, demonstrating a leading position in technological research and development (R) and innovation.WIPO is a self-funding agency of the United Nations, and the PCT is an important international treaty.

By filing one international patent application under the PCT, patent applicants can simultaneously seek protection for an invention in 148 countries.

PCT international patent application is one of the major channels for innovative enterprises to develop their global patents portfolio.

The number of PCT applications is a reflection of a company’s innovation capabilities, market coverage and core competitiveness.As of 31 December 2019, Ping An had filed 3,680 PCT patent applications, including 1,278 related to AI, 139 related to blockchain and 223 in cloud computing.Ping An has been steadily building its international intellectual property portfolio in its core technologies such as AI, blockchain and cloud computing.

These technologies empower Ping An’s five ecosystems of financial services, health care, auto services, real estate services and smart city services.

This market research report identifies Friendsurance, Oscar, ZhongAn, Allay, Analyze Re, GetInsured, Bayzat, Bought By Many, Claim Di, and CommonEasy as the major vendors operating in the global Insurtech market.

This report also provides a detailed analysis of the market by components (Software and Services), types (Retail Insurance and Commercial Insurance), by application (Health insurance, Property and casualty insurance, Life insurance, and Others), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).Request For Report sample InsurTech (Insurance Technology) Market@ https://www.trendsmarketresearch.com/report/sample/9829 Infoholic’s market research report predicts that the global InsurTech market revenue is valued at $532.7 million in 2018 and is expected to reach $1,119.8 million by 2023, growing at a CAGR of 16.0% during the forecast period 2018–2023.

The insurance sector is all set to adopt new technologies and attract new customers along with retaining the clients delighting with services.

The Asia Pacific region is likely to witness growth in InsurTech due to the presence of few emerging countries and financial hubs in Hong Kong, Singapore, and India.

Also, the insurers are focusing on providing cheap and affordable insurance premium plans in the diversely populated region.Competitive Analysis and Key VendorsThe banks and financial institutions are witnessing transformation with the emergence of FinTech vendors, thereby disrupting the traditional model of operations and processes.

The InsurTech vendors offer software that simplifies the decision-making process for the customers, and the analytics software helps insurers to understand the current need and demand in the market.Some of the key vendors in the InsurTech market are:FriendsuranceOscarZhongAnAllayAnalyze ReGetInsuredBayzatBought By ManyClaim DiCommonEasySegmentation of componentsSoftwareServicesIn 2017, the software component occupied the largest share, but services component is expected to grow at the highest CAGR during the forecast period.Request For Report Discount@ https://www.trendsmarketresearch.com/report/discount/9829 InsurTech market by TypesRetail InsuranceCommercial InsuranceIn 2017, the retail insurance occupied the largest share, but commercial insurance is expected to grow at the highest CAGR during the forecast period.InsurTech market by ApplicationHealth Insurance Property and casualty insuranceLife insuranceOthersIn 2017, the property and casualty insurance occupied the largest share, but health insurance is expected to grow at the highest CAGR during the forecast period.

This market research report identifies Friendsurance, Oscar, ZhongAn, Allay, Analyze Re, GetInsured, Bayzat, Bought By Many, Claim Di, and CommonEasy as the major vendors operating in the global Insurtech market.

This report also provides a detailed analysis of the market by components (Software and Services), types (Retail Insurance and Commercial Insurance), by application (Health insurance, Property and casualty insurance, Life insurance, and Others), and region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America).Infoholic’s market research report predicts that the global InsurTech market revenue is valued at $532.7 million in 2018 and is expected to reach $1,119.8 million by 2023, growing at a CAGR of 16.0% during the forecast period 2018–2023.

The insurance sector is all set to adopt new technologies and attract new customers along with retaining the clients delighting with services.

The Asia Pacific region is likely to witness growth in InsurTech due to the presence of few emerging countries and financial hubs in Hong Kong, Singapore, and India.

Also, the insurers are focusing on providing cheap and affordable insurance premium plans in the diversely populated region.Competitive Analysis and Key VendorsThe banks and financial institutions are witnessing transformation with the emergence of FinTech vendors, thereby disrupting the traditional model of operations and processes.

The InsurTech vendors offer software that simplifies the decision-making process for the customers, and the analytics software helps insurers to understand the current need and demand in the market.Request for enquiry on This Report at: http://marketgrowthanalysis.com/reports/enquiry/443Some of the key vendors in the InsurTech market are:FriendsuranceOscarZhongAnAllayAnalyze ReGetInsuredBayzatBought By ManyClaim DiCommonEasySegmentation of componentsSoftwareServicesIn 2017, the software component occupied the largest share, but services component is expected to grow at the highest CAGR during the forecast period.InsurTech market by TypesRetail InsuranceCommercial InsuranceIn 2017, the retail insurance occupied the largest share, but commercial insurance is expected to grow at the highest CAGR during the forecast period.InsurTech market by ApplicationHealth InsuranceProperty and casualty insuranceLife insuranceOthersIn 2017, the property and casualty insurance occupied the largest share, but health insurance is expected to grow at the highest CAGR during the forecast period.

Customer-centricity is of a lot of significance for profitable expansion of insurance agencies.

They expect simplified and personalized services and products that fit their distinctive requirements.To succeed in fulfilling the diverse needs of customers, insurers have to collect, supervise and monetize customer information from every angle and then integrate it with external data sources such as public data sets, social media, and sensors.Advantage of digitization in insurance sectorInsurtech travel insurance provides new technologies such as advanced analytics, machine learning, and artificial intelligence that vastly boost the digital transformation journey of an organization.

These tools can be used to dynamically optimize the  layouts and designs of their travel insurance contents, based on previous interactions, real-time behavior, CRM data, and more.What does insurer have to focus on?Insurers are enabling meaningful and contextual interactions throughout the journey of the customer via multiple digital channels.

It needs collection and analysis of data, to identify risk classes, settlement of claims, and also for determination of policy prices.

Machine learning also analyzes interaction with data, by which an insurer can improve, learn, and predict themselves more impressively for their next interaction with the customer.What are the insurance companies doing to make them more efficient?Insurance companies from all across the world have already invested a lot to bring about transformation in their customer experience.

Some of them are data mining content that are present on social media to effectively segment their customers.This will help them in positioning to specific services and products, in relevant and timely ways.