According to the new market "Insurance Analytics Market by Component (Tools and Services), Application (Claims Management, Risk Management, Customer Management and Personalization, Process Optimization), Deployment Mode, Organization Size, End User, and Region - Global Forecast to 2026" The global insurance analytics market size is expected to grow from USD 8.8 billion in 2020 to USD 20.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period.Browse 186 market data Tables and 67 Figures spread through 267 Pages and in-depth TOC on "Insurance Analytics Market - Global Forecast to 2026"The rising need for big data and predictive modeling capability during the COVID-19 pandemic drives the adoption of insurance analytics solutions and the rise in adoption of IoT products driving the adoption of insurance market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=58298536Demand to reduce the time for efficient management of claims and insurance policies is expected to boost insurance companies segment to hold a larger market sizeInsurance companies are the end-user companies that provide various types of insurance, such as consumer insurance (including life and health insurance, and vehicle/auto insurance) and commercial insurance (employee insurance and asset insurance for manufacturing companies).Insurance companies are now widely adopting various technology solutions, including analytics, for their internal and customer-facing services.For example, multi-line carriers that supply consumer policies — for homes, cars, and small groups — in addition to business services, such as P insurance, run several applications to handle underwriting, claims, and Customer Relationship Management (CRM).Increasing service demand coupled with critical end-of-year fiscal reporting forces these organizations to adopt advanced technological solutions, leading to a larger market size during the forecast period.The company is leveraging predictive analytics across its customer life cycle to assess customer risk, to determine the potential of a customer to renew or lapse a policy, and to act accordingly.The increasing demand for fraud detection solutions and the rise in the requirement of on-time authentic information would drive the growth of the insurance analytics market in this region.The major vendors offering insurance analytics tools are IBM (US), Salesforce (US), Oracle (US), Microsoft (US), Sapiens (Israel), OpenText (Canada), SAP (Germany), Verisk Analytics (US), SAS Institute (US), Vertafore (US), TIBCO (US), Qlik (US), Board International (Switzerland), BRIDGEi2i (US), MicroStrategy (US), Guidewire Software (US), LexisNexis Risk Solutions (US), WNS (India), Hexaware Technologies (India), Pegasystems (US), Applied Systems (US), InsuredMine (US), ReFocus AI (US), RiskVille (Ireland), Pentation Analytics (US), Habit Analytics (US), Artivatic.ai (India), CyberCube (US), and Arceo.ai (US).About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.