Report overview
Life insurance software helps agents and brokers automate different operations such as issuing policies, collecting premiums and processing claims. Such solutions also allow customers to view details of their policies, raise claims using web forms and pay their premiums via a self-service online portal.
This report aims to provide a comprehensive presentation of the global market for Life Insurance Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Life Insurance Software. This report contains market size and forecasts of Life Insurance Software in global, including the following market information:
Global Life Insurance Software Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global top five companies in 2022 (%)
The global Life Insurance Software market was valued at US$ 6757 million in 2022 and is projected to reach US$ 9799.9 million by 2029, at a CAGR of 5.5% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The Life Insurance Software market consists of a well-established group of brand name manufacturers and new entrants.
The world TOP players in the Life Insurance Software market are Salesforce, Microsoft, SAP, Vertafore, IBM, Applied Systems Inc., Oracle, Sapiens International Corporation, Adobe, Accenture, Ebix, ACI, Sinosoft, Hyland Software, Aptitude Software, EIS Group, HawkSoft and so on. These Top companies currently account for more than 58% of the total market share and are expected to retain their dominating hold over the market during the forecast period. As consumer interest increases, this market will attract other major companies which want to extend their brand equity.
We surveyed the Life Insurance Software companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Life Insurance Software Market, by Type, 2018-2023, 2024-2029 ($ millions)
Global Life Insurance Software Market Segment Percentages, by Type, 2022 (%)
On-Premise
Cloud-Based
Global Life Insurance Software Market, by Application, 2018-2023, 2024-2029 ($ millions)
Global Life Insurance Software Market Segment Percentages, by Application, 2022 (%)
Term Life
Annuity
Whole Life
Group Life
Unit-linked
Global Life Insurance Software Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions)
Global Life Insurance Software Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Life Insurance Software revenues in global market, 2018-2023 (estimated), ($ millions)
Key companies Life Insurance Software revenues share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Salesforce
Microsoft
SAP
Vertafore
IBM
Applied Systems Inc.
Oracle
Sapiens International Corporation
Adobe
Accenture
Ebix
ACI
Sinosoft
Hyland Software
Aptitude Software
EIS Group
HawkSoft
Outline of Major Chapters:
Chapter 1: Introduces the definition of Life Insurance Software, market overview.
Chapter 2: Global Life Insurance Software market size in revenue.
Chapter 3: Detailed analysis of Life Insurance Software company competitive landscape, revenue and market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Life Insurance Software in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: The main points and conclusions of the report.
