Your payment is in progress...

The US Insurance Distribution Technology Market: Size & Forecasts With Impact Analysis Of COVID-19 (2021-2025)

Published on: Mar 2021 | From USD $900 | Published By: DAEDAL RESEARCH | Number Of Pages: 86

Scope of the Report

The report titled “The US Insurance Distribution Technology Market: Size & Forecasts with Impact Analysis of COVID-19 (2021-2025)”, provides an in depth analysis of the US insurance distribution technology market by value, by application, by function, etc. The report also provides a detailed analysis of the COVID-19 impact on the insurance technology market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall US insurance distribution technology market has also been forecasted for the period 201-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The US insurance distribution technology market is fragmented with many major market players operating in the region. The key players of the insurance distribution technology market are EverQuote, Inc., GoHealth, MediaAlpha, Inc., and Goosehead Insurance, Inc. are also profiled with their financial information and respective business strategies.

Country Coverage

The US

Company Coverage

EverQuote, Inc.
GoHealth
MediaAlpha, Inc.
Goosehead Insurance, Inc.

Executive Summary

With the advent of digital technologies and changing customer demand for multiple access points, insurers have started exploring ways to develop newer and technology-based distribution channels in the online space. Insurance distribution technologies mainly focuses on improving the efficiency of the existing insurance industry model. These technologies are also focusing on improving communications with the clients and capabilities to implement automation processes.

Insurance distribution technology have a long history with continuous development of new and innovative insurance technologies. The insurance distribution technology market can be segmented on the basis of function and application.

The US insurance distribution technology market has increased significantly during the year 2020 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The insurance distribution technology market is expected to increase due to soaring urban population, rising millennial population, rise in the use of internet to buy insurance products, increasing use of mobile technology and applications (apps), integration of artificial intelligence (AI) with insurance, etc. Yet the market faces some challenges such as security concerns, infrastructure bottlenecks, etc.

1. Executive Summary

2. Introduction

2.1 Insurance: An Overview
2.1.1 Types of Insurance
2.1.2 Challenges faced by Traditional Insurance

2.2 Insurance Distribution: An Overview
2.2.1 Steps to Select the Most Efficient Insurance Distribution Channels

2.3 Insurance Distribution Segmentation: An Overview
2.3.1 Insurance Distribution Segmentation

2.4 Insurance Distribution Technology: An Overview
2.4.1 Insurance Distribution Technology – Focus Areas

2.5 Insurance Distribution Technology Segmentation: An Overview
2.5.1 Insurance Distribution Technology Segmentation by Function
2.5.2 Insurance Distribution Technology Segmentation by Application

3. The US Market Analysis

3.1 The US Insurance Distribution Market: An Analysis

3.1.1 The US Insurance Distribution Market by Value
3.1.2 The US Insurance Distribution Market by Application (Property and Casualty (P&C), Health and Life)
3.1.3 The US Insurance Distribution Market by Segments (Retail and Commercial)

3.2 The US Insurance Distribution Market: Application Analysis

3.2.1 The US Property and Casualty (P&C) Insurance Distribution Market by Value
3.2.2 The US Health Insurance Distribution Market by Value
3.2.3 The US Life Insurance Distribution Market by Value

3.3 The US Insurance Distribution Market: Segment Analysis

3.3.1 The US Retail Insurance Distribution Market by Value
3.3.2 The US Retail Insurance Distribution Market by Application (Auto & Home, Health, Life and SMB P&C)
3.3.3 The US Commercial Insurance Distribution Market by Value

3.4 The US Insurance Distribution Technology Market: An Analysis

3.4.1 The US Insurance Distribution Technology Market by Value
3.4.2 The US Insurance Distribution Technology Market by Function (Commission, Broker IT and Advertising)

3.5 The US Insurance Distribution Technology Market: Function Analysis

3.5.1 The US Commission Insurance Distribution Technology Market by Value
3.5.2 The US Broker IT Insurance Distribution Technology Market by Value
3.5.3 The US Advertising Insurance Distribution Technology Market by Value
3.5.4 The US Advertising Insurance Distribution Technology Market by Application (Auto, Health, Life, Home and SMB Commercial P&C)
3.5.5 The US Auto Advertising Insurance Distribution Technology Market by Value
3.5.6 The US Health Advertising Insurance Distribution Technology Market by Value
3.5.7 The US Life Advertising Insurance Distribution Technology Market by Value
3.5.8 The US Home Advertising Insurance Distribution Technology Market by Value
3.5.9 The US SMB Commercial P&C Advertising Insurance Distribution Technology Market by Value

4. Impact of COVID-19

4.1 Impact of COVID-19
4.1.1 Impact of COVID-19 on Insurance Industry
4.1.2 Impact of COVID-19 on Insurance Technology Industry

5. Market Dynamics

5.1 Growth Driver
5.1.1 Soaring Urban Population
5.1.2 Rising Millennial Population
5.1.3 Rise in the Use of Internet to Buy Insurance Products
5.1.4 Increasing Use of Mobile Technology and Applications (Apps)
5.1.5 Integration of Artificial Intelligence (AI) with Insurance

5.2 Challenges
5.2.1 Security Concerns
5.2.2 Infrastructure Bottlenecks

5.3 Market Trends
5.3.1 Increasing Use of Social Media as a Distribution Channel
5.3.2 Rising Personalization Trend
5.3.3 Growing Adoption of Telematics
5.3.4 Rising Penetration of Cloud-based Insurance Technology Services
5.3.5 Escalating Demand for Digital Self-Service
5.3.6 Collaboration with BigTechs
5.3.7 Surging Popularity of Virtual Insurance Advisor
5.3.8 Emergence of Subscription Models
5.3.9 Growing Adoption of Connected Insurance
5.3.10 Increasing Use of Blockchain in Insurance
5.3.11 Rising Popularity of Gamification in Insurance Industry

6. Competitive Landscape

6.1 The US Insurance Distribution Technology Market Players by Sales Growth
6.2 The US Insurance Distribution Technology Market Players by Business Models

7. Company Profiles

7.1 EverQuote, Inc.
7.1.1 Business Overview
7.1.2 Financial Overview
7.1.3 Business Strategy

7.2 GoHealth
7.2.1 Business Overview
7.2.2 Financial Overview
7.2.3 Business Strategy

7.3 MediaAlpha, Inc.
7.3.1 Business Overview
7.3.2 Financial Overview
7.3.3 Business Strategy

7.4 Goosehead Insurance, Inc.
7.4.1 Business Overview
7.4.2 Financial Overview
7.4.3 Business Strategy

List of Figures

Figure 1: Types of Insurance
Figure 2: Challenges faced by Traditional Insurance
Figure 3: Steps to Select the Most Efficient Insurance Distribution Channels
Figure 4: Insurance Distribution Segmentation
Figure 5: Insurance Distribution Technology – Focus Areas
Figure 6: Insurance Distribution Technology Segmentation by Function
Figure 7: Insurance Distribution Technology Segmentation by Application
Figure 8: The US Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 9: The US Insurance Distribution Market by Application; 2020 (Percentage, %)
Figure 10: The US Insurance Distribution Market by Segments; 2020 (Percentage, %)
Figure 11: The US Property and Casualty (P&C) Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 12: The US Health Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 13: The US Life Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 14: The US Retail Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 15: The US Retail Insurance Distribution Market by Application; 2020 (Percentage, %)
Figure 16: The US Commercial Insurance Distribution Market by Value; 2020-2025 (US$ Billion)
Figure 17: The US Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 18: The US Insurance Distribution Technology Market by Function; 2020 (Percentage, %)
Figure 19: The US Commission Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 20: The US Broker IT Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 21: The US Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 22: The US Advertising Insurance Distribution Technology Market by Application; 2020 (Percentage, %)
Figure 23: The US Auto Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 24: The US Health Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Billion)
Figure 25: The US Life Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Million)
Figure 26: The US Home Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Million)
Figure 27: The US SMB Commercial P&C Advertising Insurance Distribution Technology Market by Value; 2020-2025 (US$ Million)
Figure 28: The US Urban Population; 2015-2020 (Percentage, %)
Figure 29: The US Millennial Population; 2016-2036 (Million)
Figure 30: The US Number of Internet Users; 2018-2025 (Million)
Figure 31: The US Social Network Users; 2018-2023 (Million)
Figure 32: Potential Business and Technology Benefits of Cloud
Figure 33: EverQuote, Inc. Revenue; 2016-2020 (US$ Million)
Figure 34: EverQuote, Inc. Revenue by Insurance Verticals; 2020 (Percentage, %)
Figure 35: EverQuote, Inc. Revenue by Distribution Channels; 2020 (Percentage, %)
Figure 36: GoHealth Net Revenue; 2018-2020 (US$ Million)
Figure 37: MediaAlpha, Inc. Revenue; 2018-2020 (US$ Million)
Figure 38: MediaAlpha, Inc. Revenue by Product Vertical; 2020 (Percentage, %)
Figure 39: MediaAlpha, Inc. Revenue by Transaction Model; 2020 (Percentage, %)
Figure 40: Goosehead Insurance, Inc. Total Revenues; 2018-2020 (US$ Million)
Figure 41: Goosehead Insurance, Inc. Total Revenues by Segments; 2020 (Percentage, %)
Table 1: Technologies Supporting InsurersÂ’ Battle with COVID-19
Table 2: The US Insurance Distribution Technology Market Players by Sales Growth; 2020-2022 (Percentage, %)
Table 3: The US Insurance Distribution Technology Market Players by Business Models

SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.

PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.

MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.

EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.

REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.

FAQs

Market research is a defined process to collect information about customers, competitors, and everything that a business needs to understand to sustain and grow. It offers important analysis to distinguish and examine the market needs, size, and trends. Market research is generally divided into, primary research and/or secondary research.

The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.

The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage.

Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more.

These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry.

Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website). There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Any person who has the capacity to make decisions for the business must buy the reports. These reports help management in decision making process. Market research helps person to obtain market information from different sources, and in multiple formats. It aims to study supply and demand, analyze data as per geography, age factors, demography, technology, product, psychographic & gender differences, and many other parameters. Access to in-depth market trends helps person to assess the market effectiveness. Some of the multiple techniques used for market research include customer analysis, choice modeling, competition and risk analysis, product research, advertising the research, marketing mix modeling, simulated test marketing, and more.
Market research studies several features of business environment, such as competitors, market structure, government regulations, economic trends, technological advances and financial analysis of companies, industries, and sectors. This helps person in the decision-making process of planning and implementing strategies for their markets.

The generation of research report is concerned by most clients when purchasing it. Following general steps are taken for generating reports.
1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.

With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
MarketInsightsReports has focused on various fields such as Life Science, IT, Telecommunication, Food& Beverages, Energy & Power, Automotive & Transportation, Materials& Chemicals, Financial Services and many more. These market research reports are available for all regions around the globe.
When you place an order with MarketInsightsReports, we try our best to deliver the product as soon as possible. The report will be delivered to you either by email or by physical delivery. If it’s delivered by email the order will be dispatched on the same working day or on the next working day of receipt of payment (unless otherwise specified on our website).

There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location

Please Choose License Type

USD $900
USD $1500
Offer

Why Us

  • Why Us In-depth database
    Our Report’s database covers almost all topics of all regions over the Globe..
  • Recognised publishing sources Recognised publishing sources
    Tie ups with top publishers around the globe.
  • Customer Support Customer Support
    Complete pre and post sales support.
  • Safe & Secure Safe & Secure
    Complete secure payment process.