LONDON–(BUSINESS WIRE)–Aug 2, 2018–The global insurance software market is expected to post a CAGR of over 4% during the period 2018-2022, according to the latest market research report by .
Technavio has published a new market research report on the global insurance software market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing adoption of insurance in developing countries. Insurance markets in developed countries have become saturated. This is because of the increased awareness and early adoption of insurance by consumers in developed regions. Moreover, developed nations have stringent government regulations for the subscription to insurance, including insurance for life and health, property and casualty, or specialty goods such as marine and aviation. However, the market is currently expanding at a fast pace in developing countries because of the increasing awareness about the importance of insurance. Emerging markets such as China and India, are expected to contribute significantly to the rapid growth of the insurance…
