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

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.