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  • Writer's pictureDeep Knowledge Group

Comprehensive InsurTech Industry Analytical Framework Released by Deep Knowledge Group

Deep Knowledge Group investment and financial subsidiary DeepTech and Longevity Industry Financial Advisors, in partnership with the AI and Data Science Division has released a new InsurTech Industry Analytical Framework, representing the most comprehensive classification system to date for analyzing the InsurTech Industry on a global scale. The framework has been made accessible in an open-access format to better serve the needs of individuals and decision makers within the InsurTech Industry who are dedicated to developing global non-profit activities and serving individuals in need.

The main aim of the InsurTech Industry Analytical Framework is to share a comprehensive overview of InsurTech industry participants and make it easier to compare businesses internationally, and focus on each company's activity.

View InsurTech Industry Analytical Framework Here:

View Full Framework Documentation Here:

View InsurTech Industry Big Data Analytics Dashboard Here:

InsurTech is a rapidly growing industry that leverages technology to streamline and enhance various aspects of the insurance process. With the use of advanced analytics and artificial intelligence, InsurTech companies are able to provide more accurate risk assessments, faster claims processing, and personalized policy recommendations, among other benefits. The new analytical framework is poised to take these capabilities to the next level.

The framework provides a comprehensive understanding of the InsurTech landscape. The development of this analytical framework represents a major breakthrough in the InsurTech industry. With its advanced capabilities and potential to transform the insurance landscape, it is sure to be a valuable asset for companies looking to stay ahead of the curve in this rapidly evolving InsurTech Industry.

Deep Knowledge Group has profiled 5,000 companies, 100 corporations, and 1,000 investors in the InsurTech industry. These profiles provide a comprehensive database of InsurTech players that can be used by investors, corporations, and other stakeholders in the industry. To help users navigate this vast database, Deep Knowledge Group has created an interactive mindmap that allows users to explore the InsurTech landscape in a visual and intuitive way.

This framework is divided into nine major industry sectors, each of which is further subdivided into 40 segments. This allows for a granular and nuanced understanding of the InsurTech industry landscape, which is essential for companies and investors looking to innovate and stay ahead of the competition.

Longevity InsurTech Industry End-to-End Platform Solution

In 2023 this analytical framework will form the basis of the dedicated Longevity InsurTech Industry End-to-End Platform Solution, created in order to combine and deploy the extensive InsurTech expertise of Deep Knowledge Group. This is a comprehensive suite of tools and technologies designed specifically for the insurance industry. The goal of this platform is to accelerate the adoption of innovative, tech-backed solutions that are commonly known as InsurTech.

By doing so, the platform aims to bring greater efficiency and effectiveness to the insurance industry, while also meeting the needs of insurance companies and contributing to the emergence of new InsurTech solutions.

One of the key benefits of the Longevity InsurTech End-to-End Platform Solution is that it enables insurance companies to adopt InsurTech solutions. This is because the platform provides a seamless, end-to-end solution that encompasses all aspects of the insurance process.

The Longevity InsurTech End-to-End Platform Solution is that it is designed to meet the specific needs of the insurance industry. This means that the platform includes a range of features and tools that are tailored to the unique requirements of insurers, such as risk management and underwriting. Additionally, the platform is constantly updated and improved to ensure that it remains aligned with the evolving needs of the industry.

InsurTech Industry Big Data Analytics System and Dashboard

InsurTech Industry Analytical Framework provides a structured approach to the development and deployment of InsurTech Industry Big Data Analytics System and Dashboard, the innovative, tech-backed solution for market intelligence and industry analysis designed specifically to the needs of InsurTech Industry.

The InsurTech Big Data Analytics Dashboard is a sophisticated cutting-edge tool providing its user with computational risks assessment, general risk management, and multiple de-risking practices. This solution involves the best practices of DKG to the creation of Big Data Analytical Systems and Dashboards.

With its user-friendly interface and powerful analytics capabilities, the InsurTech Industry Big Data Analytics Dashboard enables users to make informed decisions and identify trends that impact the InsurTech industry. By providing access to real-time information on funding trends, and key industry players, the dashboard empowers decision-makers to stay ahead of the curve and drive innovation in this rapidly evolving sector. Whether you're a government agency, a private sector firm, or a research institution, the Global Philanthropy Big Data Analytics Dashboard is an indispensable tool for anyone looking to stay on the cutting edge of philanthropy innovation. To date, the Dashboard has aggregated the data on 5,000 InsurTech private and 400 public companies globally. The dashboard involves over 750,000 data points which are constantly extending to supply users with the most relevant market data on InsurTech Industry.

Key Industry Trends and Take-Aways from the Framework

Insurance remains a growing industry even in the period of global economic slowdown: increased risk awareness will continue to support demand for life and health protection products.

However, during this period, insurers can face more intense competition. Most probably price will not suffice to attract customers but should be paired with convenient and personal digital experiences. Additionally, insurers will have to seek options to optimize costs and revenue streams.

There is a growing focus on how the insurance industry needs to adapt in order to adjust to an increasingly long-lived population. Bundling wellbeing initiatives between longevity and insurance companies has a great potential to resolve the possible challenges in a more holistic manner.

The North American Region involves the largest number of InsurTech companies followed by Europe and Asia.

Among the all segments of InsurTech Industry we can define the following top-level supersegments:

Longevity InsurTech

InsurTech refers to the use of technology innovations designed to squeeze out savings and efficiency from the current insurance industry model through collecting and analyzing consumer data that may be used to target the proper client at an affordable price. The main aim of Longevity InsurTech is to develop solutions and services which help synchronize client’s wealthspan (period of extended financial stability) and healthspans (period of Healthy Longevity).

Artificial Intelligence in InsurTech

Insurance industry has been experiencing a technology revolution over the past decade. Nowadays the Insurance Industry is embracing AI solutions for reaching higher performance through improving underwriting, money and risk management, customer experience and internal processes.

The insurance industry has been experiencing a technology revolution over the past decade. Emerging capabilities such as telematics, AI, wearables and claims automation have become more prevalent as insurers have doubled down on using technology for optimization of both cost and processes.

Application of Biomarkers in InsurTech

Many financial services and products can be optimized using biomarkers and, in particular, biomarkers of human Longevity. The current development of financial instruments tied to biological age (individual's physiological health status that is defined by a health-related biomarkers analysis) proves their efficiency in decreasing the Longevity risk.

Many financial services and products can be optimized using biomarkers and, in particular, biomarkers of human longevity. Such approaches show great value for a whole variety of entities, both governmental and privately held, providing optimized hedging solutions.

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