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The global insurance analytics market size is projected 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.
Several insurance providers are accelerating investments in digitization and closing gaps in business continuity models. The integration of third-party data to mitigate risk is increasing in urgency. Throughout this time, customers are reminded of how significant the role of insurance is in their lives. For example, health coverage assists with drug and treatment plans for the ill, employment insurance helps those impacted by the economic turmoil, and business interruption coverage supports businesses unable to operate. Companies must continue investing and enabling access for customers while ensuring underwriters are well-informed of upcoming risks. Emergencies, such as COVID-19, highlight the need for insurers