New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Robotic process automation and artificial intelligence have transformed the way in which business is done in the insurance industry. Robotic process automation and artificial intelligence are life insurance market trends used to accurately predict outcomes, improve customer service, guide the development of new products, detect risks, and cross-promote products. For example, Aditya Birla Sun Life Insurance has launched DISHA 2.0, an Upgraded AI-Enabled ChatBot to navigate personalized solutions for life insurance choices. These technological developments will enhance the customer experience and will drive the market.
The global life insurance market size is expected to grow from $2.47 trillion in 2020 to $2.88 trillion in 2021 at a compound annual growth rate (CAGR) of 16.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.51 trillion in 2025 at a CAGR of 5.1%.
The life insurance market segments in The Business Research Company’s research report are divided by type into term life insurance, whole life insurance, variable life insurance, equity indexed life insurance, accidental death insurance, other life insurance, by application into agency, brokers, bancassurance, digital & direct channels, and by mode into online and offline.
Here Is A List Of Similar Reports By The Business Research Company:
Insurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Insurance Agencies Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Term Life Insurance Market – By Type Of Insurance (Individual Level Term Life Insurance, Group Level Term Life Insurance, Decreasing Term Life Insurance), By Distribution Channel (Tied Agents And Branches, Brokers, Bancassurance), And By Region, Opportunities And Strategies – Global Forecast To 2030
Life Insurance Providers Global Market Report 2020-30: COVID-19 Impact and Recovery
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