Insurance Services Procurement Intelligence is expected to grow at a CAGR of 9.0% from 2023 to 2030
Insurance Services Procurement Intelligence The insurance services category is expected to grow at a CAGR of 9.0% from 2023 to 2030. Changing economic conditions, consumer behavior, climate change and disasters, and regulatory frameworks are driving the growth of the category. Consumers are increasingly seeking convenience, customization, and transparency in insurance products. This has led to the rise of InsurTech companies that cater to these preferences. The increasing frequency and severity of natural disasters due to climate change have a direct impact on the insurance sector, particularly property and casualty cover. Insurers are adjusting their pricing and underwriting models in response to these risks. Advancements in technology, such as data analytics, artificial intelligence, the Internet of Things, and blockchain, are transforming the insurance industry. These technologies enable insurers to better assess risk, streamline operations, and offer more per...