Dublin, June 30, 2021 (GLOBE NEWSWIRE) -- The "US Digital Insurance Market: Insights, Trends & Forecast with Potential Impact of COVID-19 (2021-2025)" report has been added to ResearchAndMarkets.com's offering.
US digital insurance market revenues are forecasted to touch US$23.92 billion in 2025, growing at a CAGR of 20.7% for the period spanning from 2021 to 2025.
Factors such as rapid urbanization, growing smartphone users, rising healthcare expenditure and improving consumer confidence index are expected to drive the market growth.
However, growth of the industry would be challenged by a surge in competitive pressure and technological infrastructure risk. A few notable trends include high adoption of the Internet of Things (IoT), the emergence of digital document management and growth in Artificial Intelligence (AI) services applications.
In 2020, the outbreak of the COVID-19 pandemic created a favourable impact on the market as the insurance policy purchases by the population increased rapidly.
The U.S. digital insurance market by application is segmented into health, auto, life and home. Among them, health held the largest share of the industry revenues due to the growth in the prevalence of disorders across the country.
The rising number of households, increasing initiatives by the government, rising accidents and man-made disasters, improving consumer confidence in the digital insurance industry and accelerating personal automobile purchases are supporting the market growth.
Scope of the report:
- The report provides a comprehensive analysis of the US digital insurance market, segmented into functions (commission & advertising) and applications (health, auto, life and home).
- The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
- The competitive landscape of the market, along with the company profiles of leading players i.e. LendingTree, Inc., GoHealth, Inc., MediaAlpha, Inc., eHealth, Inc., EverQuote, Inc. and Digital Media Solutions, Inc. are also presented in detail.
Key Topics Covered:
1. Market Overview
1.1 Introduction
1.2 Digital vs Traditional Insurance
1.3 Applications
1.4 Benefits
2. Impact of COVID-19
2.1 Introduction
2.2 Impact on Digital Insurance Aggregators
3. The U.S. Digital Insurance Market Analysis
3.1 The U.S. Digital Insurance Market Value
3.2 The U.S. Digital Insurance Market Value Forecast
3.3 The U.S. Digital Insurance Market Value by Functions
3.4 The U.S. Digital Insurance Market Value by Applications
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Rapid Urbanization
4.1.2 Growing Smartphone Users
4.1.3 Rising Healthcare Expenditure
4.1.4 Improving Consumer Confidence Index
4.2 Key Trends and Developments
4.2.1 High Adoption of Internet of Things (IoT)
4.2.2 Emergence of Digital Document Management
4.2.3 Growth in Artificial Intelligence (AI) Services Applications
4.3 Challenges
4.3.1 Surge in Competitive Pressure
4.3.2 Technological Infrastructure Risk
5. Competitive Landscape
5.1 The U.S. Digital Insurance Market
5.1.1 Key Players - Revenues Comparison
5.1.2 Key Players - Market Cap Comparison
6. Company Profiles
6.1 LendingTree, Inc.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 GoHealth, Inc.
6.3 MediaAlpha, Inc.
6.4 eHealth, Inc.
6.5 EverQuote, Inc.
6.6 Digital Media Solutions, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/dm20ta