Fintech PR
IoT Insurance Market Size to Grow USD 686.9 Billion by 2032 at a CAGR of 36.4% | Valuates Reports
BANGALORE, India, Jan. 22, 2024 /PRNewswire/ — IoT Insurance Market By Component (Solution, Service), By Insurance Type (Life and Health Insurance, Property and Casualty Insurance, Others), By Application (Automotive, Transportation, and Logistics, Life and Health, Commercial and Residential Buildings, Business and Enterprise, Agriculture, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The Global IoT insurance market was valued at USD 31.5 Billion in 2022, and is projected to reach USD 686.9 Billion by 2032, growing at a CAGR of 36.4% from 2023 to 2032.
Claim Your Free Sample Now:
https://reports.valuates.com/request/sample/ALLI-Auto-2Q637/IoT_Insurance_Market
Major Factors Driving the Growth of IoT Insurance Market:
The use of revolutionary technologies like telematics, data analytics, and predictive modeling is driving the expansion of the IoT insurance industry. Usage-based insurance with telematics support and connected device risk reduction lead to more economical and customized plans.
Insurance companies may use machine learning algorithms to optimize pricing models, improve fraud detection, and engage clients proactively thanks to the copious amounts of real-time data from IoT devices.
The IoT insurance market is growing as a result of its expansion into the health insurance sector using IoT health monitoring devices, cooperative industry collaborations, legislative backing for innovation, and the development of dynamic business models. The insurance business is changing as a result of the confluence of technology, data, and creative thinking. This is creating a more connected, customer-focused, and data-driven sector.
Unlock Insights: View Full Report Now!
https://reports.valuates.com/market-reports/ALLI-Auto-2Q637/iot-insurance
TRENDS INFLUENCING THE GROWTH OF IOT INSURANCE MARKET
IoT devices play a major role in the insurance industry’s risk reduction and prevention efforts. Insurers are able to proactively monitor and minimize risks related to property and health insurance using connected devices, such as wearables and sensors in smart homes. Smart sensors, for instance, may identify security breaches, fire threats, and leaks in houses. This enables insurers to provide incentives for taking preventive action and, in the end, lower the frequency and severity of claims.
The health insurance industry is seeing tremendous growth due to the proliferation of IoT in health monitoring devices. Insurers receive useful information about the lives and health conditions of their policyholders via wearables and health-tracking devices. With the use of this data, insurers may create individualized health insurance policies that will encourage policyholders to lead better lifestyles and lower their total risk of medical expenses.
The market for IoT insurance is expanding rapidly, mostly due to the use of telematics technology. Combining informatics and telecommunications, telematics uses sensors and communication devices in cars to gather and send real-time data. This technology makes usage-based insurance (UBI) possible in the insurance industry, where rates are based on real driving behavior. With the use of telematics data collection, insurers are able to analyze risk more precisely, which results in more affordable and customized insurance plans for customers. The insurance industry’s capacity to identify fraud is improved by the incorporation of IoT devices. Insurers can spot odd trends and possible fraudulent activity by continuously monitoring data streams from several sources.
Regulations designed to protect consumers and promote innovation have aided in the expansion of the IoT insurance sector. Regulatory agencies are aware of how the Internet of Things may enhance risk assessment and customer support. Insurers are encouraged to engage in IoT technology by clear standards and procedures that guarantee compliance with data privacy and security requirements. The Internet of Things is bringing new ideas to the insurance industry, such pay-as-you-go or on-demand insurance. IoT data gives insurers the freedom to customize coverage to certain events or situations, giving customers greater choice over the price and coverage of their insurance. The IoT insurance industry is continuing to expand and change as a result of this move towards dynamic and customized insurance arrangements.
Own It Today – Buy Now! https://reports.valuates.com/api/directpaytoken?rcode=ALLI-Auto-2Q637&lic=single-user
IOT INSURANCE MARKET SHARE ANALYSIS
The IoT insurance market is expected to grow at the fastest rate in the property and casualty insurance segment. This is because there is a growing trend in the adoption of machine-to-machine (M2M) communication products; anti-lock brake systems are being implemented to facilitate faster communication with vehicle users; and policyholders are becoming more aware of premiums.
Asia Pacific is anticipated to have substantial growth over the course of the projection period due to the rise in end-user adoption of IoT devices, such as wearables, drones, Wi-Fi dongles, and built-in sensors that offer useful data.
Purchase Regional Report: https://reports.valuates.com/request/regional/ALLI-Auto-2Q637/IoT_Insurance_Market
Key Companies:
- International Business Machines Corporation
- CISCO SYSTEMS INC
- SAP SE
- Microsoft Corporation
- GOOGLE INC
- Accenture Plc
- Synechron
- ORACLE CORPORATION
- Intel Corporation
- Telit
Purchase Chapters:
https://reports.valuates.com/request/chaptercost/ALLI-Auto-2Q637/IoT_Insurance_Market
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– In 2020, the global property insurance market revenue is USD 1613 Billion dollars; at a CAGR of 6.2% during the forecast period from 2021 to 2027. Besides, the United States accounts for about 40.48% Market share, which is 653 billion US dollars.
– AI in IoT market was valued at USD 4513.4 Million in 2022 and is anticipated to reach USD 10280 Million by 2029, witnessing a CAGR of 14.7% during the forecast period 2023-2029.
– Insurance Policy Administration Systems Software market is projected to reach USD 478.6 Million in 2029, increasing from USD 263 Million in 2022, with the CAGR of 7.8% during the period of 2023 to 2029.
– IoT in Banking & Financial Service market is projected to grow from USD 1380.6 Million in 2023 to USD 6781.7 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 30.4% during the forecast period.
– Internet of Things (IoT) Security market size is projected to reach USD 7722.1 Million by 2028, from USD 2087.8 Million in 2021, at a CAGR of 20.3% during 2022-2028.
– Insurance Billing Software market is projected to reach USD 491.9 Million in 2029, increasing from USD 286 Million in 2022, with the CAGR of 8.0% during the period of 2023 to 2029.
– Telematics Insurance Service market is projected to reach USD 9391.8 Million in 2029, increasing from USD 4913 Million in 2022, with the CAGR of 9.7% during the period of 2023 to 2029.
– The online insurance market was valued at USD 53.2 billion in 2021, and is estimated to reach USD 330.1 billion by 2031, growing at a CAGR of 20.2% from 2022 to 2031.
– The specialty insurance market was valued at USD 104.7 billion in 2021, and is estimated to reach USD 279 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.
– The telecommunication insurance market was valued at USD 8.5 billion in 2021, and is estimated to reach USD 41.6 billion by 2031, growing at a CAGR of 17.5% from 2022 to 2031.
– Insurance Fraud Detection Market
– Business Travel Accident Insurance Market
– Juvenile Life Insurance market was valued at USD 74310 Million in 2022 and is anticipated to reach USD 157190 Million by 2029, witnessing a CAGR of 13.3% during the forecast period 2023-2029.
– Income Protection Insurance market was valued at USD 44450 Million in 2022 and is anticipated to reach USD 52760 Million by 2029, witnessing a CAGR of 2.9% during the forecast period 2023-2029.
– Game Developer Insurance market is projected to reach USD 1696.3 Million in 2029, increasing from USD 1348 Million in 2022, with the CAGR of 3.4% during the period of 2023 to 2029.
– Comprehensive Motorcycle Insurance Market
– Logistics Insurance market is projected to grow from USD 67340 Million in 2023 to USD 81830 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period.
– Cyber (Liability) Insurance Market
– Plastic Carrier Tape for Semiconductor market is projected to reach USD 773.2 Million in 2029, increasing from USD 458 Million in 2022, with the CAGR of 7.5% during the period of 2023 to 2029.
– Life Insurance Software Market revenue was USD 6566.9 Million in 2022 and is forecast to a readjusted size of USD 9724.6 Million by 2029 with a CAGR of 5.7% during the review period (2023-2029).
DISCOVER OUR VISION: VISIT ABOUT US!
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
YOUR FEEDBACK MATTERS: REACH OUT TO US!
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/
Pinterest: https://in.pinterest.com/valuatesreports/
Twitter: https://twitter.com/valuatesreports
Facebook: https://www.facebook.com/valuatesreports/
https://www.facebook.com/valuateskorean
https://www.facebook.com/valuatesspanish
https://www.facebook.com/valuatesjapanese
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/iot-insurance-market-size-to-grow-usd-686-9-billion-by-2032-at-a-cagr-of-36-4–valuates-reports-302040881.html
Fintech PR
MarketsandMarkets Appoints Milan Rao as Chief Operating Officer and Chief Revenue Officer, Strengthening Apex Leadership in Line with Ambitious Growth Plans
DELRAY BEACH, Fla., Nov. 25, 2024 /PRNewswire/ — MarketsandMarkets, a prominent Indian-origin startup recognized by Forbes as one of ‘America’s Best Management Consulting Firms 2023’, has appointed Milan Rao as its Chief Operating Officer (COO) and Chief Revenue Officer (CRO). Milan’s appointment comes as the company continues to scale its innovative AI-based knowledge platform and consulting capabilities and strengthens its apex leadership team, in preparation for its future growth trajectory.
Milan has joined MarketsandMarkets from a distinguished career in the industry, bringing over 25 years of expertise in driving operational excellence and revenue growth at global firms. He has held leadership roles at top-tier organizations, such as Wipro, GE Healthcare and Airtel, where he was instrumental in spearheading transformation strategies for clients in diverse sectors. Milan also has extensive experience in scaling startups and working with PE firms in accelerating growth for start-ups in high-potential markets.
Sandeep Sugla, Founder and CEO of MarketsandMarkets, expressed his enthusiasm for Milan’s appointment: “We are thrilled to partner with Milan in this leadership role. His wealth of experience across large global firms and start-ups is a perfect fit to drive our growth and scale ambitions, globally. Milan’s expertise will be invaluable, as we continue our mission to enable businesses to identify and capitalize on megatrends, such as AI, clean-tech, IoT, and blockchain, which will create transformative opportunities across industries like Technology, IT, Semiconductors, Healthcare, Life Sciences, Energy, Chemicals, Industrial and Automotive sectors.”
Milan’s leadership will be critical in navigating the ongoing global disruptions caused by these megatrends. According to MarketsandMarkets, new revenue sources amounting to approximately USD 25 trillion are expected to emerge by 2030, creating significant growth potential for clients. His dual role as COO and CRO will see him overseeing operational efficiencies, while driving sustainable revenue growth through innovative market strategies and partnerships.
“I’m excited to have joined a company that is at the forefront of identifying and analyzing real-time megatrend impacts across major sectors,” said Milan. “MarketsandMarkets’ AI-based platform is unique in its ability to provide actionable insights to global leaders, enabling them to adapt to and benefit from disruptive shifts. I look forward to building on this foundation and helping our 13,000 global clients stay ahead of the curve in an increasingly dynamic business environment.”
Milan holds an MBA from IIM Calcutta and a bachelor’s degree in computer science from IIT, BHU-Varanasi, and has undertaken an advanced management program from Harvard Business School. He is an active supporter of several social initiatives, focusing on education and healthcare for the underprivileged.
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms, as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines — TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies — helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Photo: https://mma.prnewswire.com/media/2566417/Milan_Rao_MarketsandMarkets.jpg
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:
AMSTERDAM, Nov. 25, 2024 /PRNewswire/ — VERMEG, a leading provider of software solutions for the financial services industry, backed by Charterhouse Capital Partners, announces today it has entered into an agreement to sell its RegTech division “Agile” to Regnology, a renowned global expert in regulatory compliance. This strategic transaction aligns with VERMEG’s long-term vision to strengthen its focus on its core areas of expertise, Collateral Management and Insurance, while ensuring a promising future for the Agile team under Regnology’s leadership.
For decades, asset servicing has been a cornerstone of VERMEG’s operations, with a comprehensive portfolio that includes corporate actions (OST), Collateral Management, mutual funds (OPCVM), and life insurance. These core offerings have solidified VERMEG’s reputation as a trusted partner to financial institutions worldwide.
The acquisition of Lombard Risk in 2018 marked a pivotal moment in VERMEG’s history, enabling the company to expand into Anglo-Saxon markets and establish itself as the global leader in Collateral Management. This transformation was driven by the complementarity between VERMEG’s and Lombard Risk’s product portfolios and supported by the center of expertise established in Tunisia, which continues to play an instrumental role in VERMEG’s success.
Agile, VERMEG’s regulatory business division, has represented a distinct and specialized segment of the company, accounting for approximately 10% of its workforce. Over the years, Agile has evolved into a best-in-class modular and scalable SaaS platform that delivers end-to-end regulatory reporting solutions, from data ingestion, through calculation to last-mile reporting. Positioned as a high-performing entity in the complex regulatory environment, Agile has garnered industry recognition for its innovation and capabilities.
Through this transaction, Agile will join Regnology, a globally recognized leader in regulatory reporting and supervisory processes. This move enables Regnology to expand its international footprint and leverage the expertise and talent cultivated in Tunisia. The strategic partnership ensures service continuity while creating exciting opportunities for Agile and its team.
For VERMEG, the transaction represents a significant milestone in its strategy to concentrate on its core strengths. By consolidating its leadership in Collateral Management and Insurance, VERMEG will mobilize resources to pursue growth and deliver even greater value to its clients. This strategic realignment underscores VERMEG’s commitment to innovation and excellence in financial technology.
“This transaction aligns with VERMEG’s strategy to ensure long-term sustainability and success for both the company and its employees,” said Badreddine OUALI, co-CEO and Founder. At the same time, VERMEG can focus on strategic initiatives in its core Banking & Market Infrastructure and Insurance divisions, leveraging additional resources to deliver even greater value to our clients.”
About VERMEG
Founded in 1993, VERMEG provides software solutions to over 500 blue-chip clients in more than 40 countries across the banking, insurance, and wealth management industries. The company’s high-quality platform offers best-in-class tools to automate processes and drive digitalization in financial services. Headquartered in Amsterdam with offices in 16 countries, VERMEG employs over 1,000 people worldwide. For more information, visit www.vermeg.com.
About Regnology
Regnology is a leading global provider of innovative solutions for supervisory, regulatory and tax reporting. Over 35,000 financial institutions, 70 regulators and tax authorities rely on our solutions to streamline their processes, enhance data quality, and improve efficiency. Building on our unified data ingestion model, Regnology is uniquely positioned to support regulators in data collection and supervisory processes, and the regulated across the full regulatory reporting value chain. Leveraging the expertise of 900+ employees in 16 countries, we help clients navigate the complexities of an ever-evolving, data-intensive regulatory landscape.
For more information, visit www.regnology.net/.
Logo – https://mma.prnewswire.com/media/2566692/VERMEG_Logo.jpg
Contact:
Donia SAHLI [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/vermeg-announces-the-sale-of-its-regtech-division-agile-to-regnology-302315472.html
Fintech PR
Trust Wallet Integrates Binance Connect to Supercharge Fiat-to-Crypto Transactions, Expanding Access for Millions
DUBAI, UAE, Nov. 25, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet trusted by over 140 million users, has integrated Binance Connect, Binance‘s official fiat-to-crypto gateway, to streamline access to digital assets and enhance the user journey. This integration offers a seamless experience with direct access to peer-to-peer (P2P) services and robust fiat-to-crypto solutions, all within Trust Wallet’s efficient environment.
With Binance Connect, Trust Wallet users can now access over 300 cryptocurrencies at competitive rates, supported by Binance’s unparalleled liquidity and market reach. This integration streamlines the fiat-to-crypto experience, allowing transactions via credit and debit cards, bank transfers, Binance wallet balance, and Binance P2P trading.
Through this integration, Trust Wallet is enabling users to access a broad range of crypto services from trusted partner merchants, reducing barriers and making it easier for millions to connect to the world of Web3.
Trust Wallet currently supports seven fiat on-ramp solutions, and the addition of Binance Connect supercharges Trust Wallet’s capabilities offering its users a seamless, cost-effective, and accessible way to buy, sell, and manage cryptocurrencies directly within the wallet.
Key Benefits of Binance Connect Integration:
- Global Accessibility: Binance Connect expands on-ramp coverage to underserved regions, providing users worldwide with more ways to access cryptocurrencies.
- Effortless Onboarding: Binance KYC-verified users enjoy faster access to P2P and fiat services within Trust Wallet, eliminating the need for additional checks.
- Cost Efficiency: P2P transactions via Binance Connect are generally more affordable than traditional payment methods, further promoting crypto adoption. Competitive P2P transaction fees make crypto more accessible and encourage regular use.
- Robust Currency Support: The integration supports 100+ fiat currencies, 300+ cryptocurrencies, and over 300 payment methods, including both traditional and alternative options.
Eowyn Chen, CEO of Trust Wallet, emphasized the significance of this integration:
“At Trust Wallet we keep working to make Web3 accessible to everyone. By collaborating with Binance Connect, we’re simplifying the journey into the on-chain world, particularly for users in regions where traditional financial infrastructure channels fall short. This integration is a game-changer for empowering self-custodial wallet users globally.”
“Trust Wallet’s integration of Binance Connect demonstrates the power of collaboration in advancing the Web3 ecosystem,” says Thomas Gregory, Vice President of Fiat at Binance. “Together, we are simplifying the user experience for millions worldwide, offering seamless transactions that make digital assets accessible, especially in regions where traditional financial systems face limitations.”
Trust Wallet users can begin using Binance Connect immediately by selecting it as their preferred payment method within the app. From setting up the wallet to completing transactions, the process is intuitive and seamless, regardless of experience level.
To explore the benefits of Binance Connect within Trust Wallet, download Trust Wallet today.
About Trust Wallet
Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it possible for millions of people around the world to experience Web3, access dApps, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.
About Binance Connect
Powered by Binance, Binance Connect is a comprehensive fiat-to-crypto solution that provides access to Binance’s global liquidity and an extensive array of payment methods. Its mission is to simplify access to cryptocurrencies and Web3 services worldwide.
Photo – https://mma.prnewswire.com/media/2566610/5920061107400196939.jpg
Logo – https://mma.prnewswire.com/media/2475420/Trust_Wallet_Core_Logo_Blue_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/trust-wallet-integrates-binance-connect-to-supercharge-fiat-to-crypto-transactions-expanding-access-for-millions-302315458.html
-
Fintech5 days agoFintech Pulse: Industry Updates, Innovations, and Strategic Moves
-
Fintech4 days agoFintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
-
Fintech PR5 days agoROLLER Releases 2025 Attractions Industry Benchmark Report, Unveiling Key Trends and Revenue Strategies
-
Fintech PR5 days agoTAILG Represents the Industry at COP29, Advancing South-South Cooperation with Low-Carbon Solutions
-
Fintech6 days agoFintech Pulse: Milestones, Partnerships, and Transformations in Fintech
-
Fintech7 days agoFintech Pulse: Navigating Expansion, Innovation, and Sustainability
-
Fintech PR3 days agoAlkira Ranked 25th Fastest-Growing Company in North America and 6th in the Bay Area on the 2024 Deloitte Technology Fast 500™
-
Fintech PR5 days agoThe CfC St. Moritz Announces New Speakers from BlackRock, Binance, Bpifrance, Temasek, PayPal, and More for Upcoming 2025 Conference