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Global Health Insurance Market Size & Share to Surpass USD 3.3 Trillion by 2028 | Vantage Market Research

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WASHINGTON, Oct. 31, 2022 (GLOBE NEWSWIRE) — A Qualitative Research report released by Vantage Market research with titled Health Insurance Market guarantees you will remain better informed than your competition. Health Insurance is the finest market research report which is the result of a proficient team and their potential capabilities. The Health Insurance report is generated with the systematic gathering and analysis of information about individuals or organizations which is conducted through social and opinion research. It highlights public demands, competencies and the constant growth of the working industry, vibrant reporting, or high data protection services while analyzing market information about the Health Insurance industry. The quality of the Health Insurance market research report is at par which gains customer confidence and trust. Thus, the Health Insurance report presents an in-depth market analysis to prosper in this competitive environment.  

The global Health Insurance Market size was valued at USD 2.6 Trillion in 2021 and is expected to reach USD 3.3 Trillion by 2028, registering a CAGR of 4.4% during the forecast period of 2022-2028. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Vantage Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Get Access to the In-depth Free Sample Report @ https://www.vantagemarketresearch.com/health-insurance-market-1450/request-sample

What is Health Insurance? How Big is Health Insurance Market Size?

Market Dynamics:

Driver: Increase in Adoption of Data Analytics to Fuel Global Health Insurance Market

The increasing adoption of data analytics technology is expected to fuel the growth of the Health Insurance Market during the forecast period. Data analytics delivers an untold number of benefits to health insurance industry. The health insurance industry has been gradually shifting to member-centric from product-centric, leading towards better results. With the use of customer relationship management (CRM) system in order to analyze the data collected, insurers can produce profiles of member which provide health insurance agents and representatives with all the required details of each member. Further, the information gained can deliver valuable customer service insights, which involves a deeper understanding of a customer needs, and more all of which allow for more personalized, member-centric service. Additionally, with the use of artificial intelligence, the health insurers can offer personalize coverage to the individual using chatbot technology and on-demand insurance.

Recent Developments:

March, 2022: UnitedHealth, the largest healthcare insurance company in the United States, announced that it intends to purchase LHC Group, a leader in home healthcare services, for approximately $5.4 billion.

List of Prominent Players in the Health Insurance Market:

  • United Healthcare
  • Aetna
  • Anthem Inc.
  • Aviva
  • Allianz
  • Centene
  • Cigna
  • CVS Health Corporation
  • Humana
  • Kaiser Foundation
  • Bupa

Limited Time Offer | Buy this Premium Research Report with Exclusive Discount and Immediate Delivery@ https://www.vantagemarketresearch.com/buy-now/health-insurance-market-1450/0

Key Insights and Findings from the In-depth Report:

  • Life insurance is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR) in the forecast period. The market growth is attributed to benefits like permanent coverage and a guaranteed death payment increase. Life insurance gives financial assistance during emergency cases, and such reasons may further propel market growth.
  • The PPO segment holds a significant market share in 2022. The market growth is attributed to factors such as it makes it easier for their patients to have well-managed healthcare plans, and provides more versatility in their schemes. It provides health plans coupled with healthcare providers and hospitals.
  • The adult segment is projected to grow at a faster rate in the forecast period. The market growth is attributed to the unhealthy lifestyles of the adult population. Thus, the adult population is more susceptible to chronic diseases which necessitate long-term healthcare investment which propels the market growth.
  • North America is the largest regional segment. The US and Canada are the largest consumers of Health Insurance in the North American region. Moreover, the presence of key players in the countries is further propelling the market growth in the region over the forecast period.

Segmentation of Health Insurance Market –

By Provider -(Revenue- USD Million, 2016-2028)

  • Public
  • Private

By Coverage Type -(Revenue- USD Million, 2016-2028)

  • Life Insurance
  • Term Insurance

By Health Insurance Plans -(Revenue- USD Million, 2016-2028)

  • Health Maintenance Organization (HMO) plans
  • Preferred Provider Organization (PPO)
  • Exclusive Provider Organization (EPO)
  • Point of Service (POS)
  • High Deductible Health Plan (HDHP) plans

By Level of Coverage -(Revenue- USD Million, 2016-2028)

  • Bronze
  • Silver
  • Gold
  • Platinum

By Demographics -(Revenue- USD Million, 2016-2028)

  • Minors
  • Adults
  • Seniors

By End-use -(Revenue- USD Million, 2016-2028)

  • Individuals
  • Corporates
  • Adults

By Region- (Revenue- USD Million, 2016-2028)

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa   

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/health-insurance-market-1450

The Report Provides Insights on the Following Pointers:

  • Market Penetration: Comprehensive information on the product portfolios of the top players in the Health Insurance market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market.  
  • Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market.
  • Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies.
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Health Insurance Market.

Driver: Increasing Integration of Artificial Intelligence to Stimulate Market Growth

The increase in integration of artificial intelligence is anticipated to augment the growth of the Health Insurance Market within the estimated period. Artificial intelligence in insurance helps in analysing claims data through Health Risk Assessment. HRAs are evaluations that compare members against an average which will benefit the member’s health but it will also benefit the plan. Additionally, the implementation of predictive analytics models is another major big data trend taking the health insurance industry by storm. Health insurers have started to turn to predictive analytics to derive meaningful and valuable insights from big data and create more sophisticated models. Thus, owing to the benefits offered by AI technology has in turn increased the demand for Health Insurance to a considerable rate.

The report on Health Insurance Market highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on Health Insurance Market Forecast Report (2022-2028).

Regional Analysis:

North America to Dominate the Global Health Insurance Market

North America has dominated the Global Health Insurance Market in 2021 and is likely to continue the same trend during the forecast period. The US dominated the North America region in 2021. This is attributable to the e presence of a large number of insurance companies in the region. Furthermore, the well-developed healthcare infrastructure with all the facilities in the region along with increasing investments in healthcare is also anticipated to augment the growth of the market in the years to come.

Asia Pacific is expected to grow at a fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the rising public and private health expenditures in the region. Additionally, the increasing penetration of insurance services is also expected to support the regional growth of the market in the years to come. Further, thriving healthcare sectors along with favorable government policies in the region is also expected to support the growth of the market within the estimated timeframe.

Scope of the Report:

Report Attributes Details
Market Size in 2021 USD 2.6 Trillion
Revenue Forecast by 2028    USD 3.3 Trillion
CAGR 4.4% from 2022 to 2028
Base Year 2021 
Forecast Year 2022 to 2028
Key Players United Healthcare, Aetna, Anthem Inc., Aviva, Allianz, Centene, Cigna, VS Health Corporation, Humana, Kaiser Foundation, Bupa

Customization of the Report:

The report can be customized as per client needs or requirements. For any queries, you can contact us on [email protected] or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

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About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

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Artificial Intelligence

LambdaTest launches LambdaTest extension for GitHub Copilot to make test automation pervasive across SDLC and drive developer productivity

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NOIDA, India and SAN FRANCISCO, May 22, 2024 /PRNewswire/ — LambdaTest extension for GitHub Copilot enables AI-powered bridge experiences by seamlessly integrating test and dev workflow. It acts as a test automation copilot, assisting developers with quality assurance capabilities across different stages in SDLC, right where they code.

May 22, 2024, Noida/San Francisco: LambdaTest, a leading cloud-based unified testing platform, announced the launch of the LambdaTest extension for GitHub Copilot. This innovative capability revolutionizes the way developers manage and execute test workflows within their integrated development environments (IDEs).
The LambdaTest extension seamlessly integrates with GitHub Copilot Chat bridging the gap between development and testing workflows. Developers can now trigger test execution directly from their GitHub and VS Code environment, eliminating the need to switch between multiple applications. This streamlined process enhances productivity and accelerates software delivery.
With LambdaTest extension, developers can initiate tests effortlessly with a simple command, bringing testing closer to their code. This capability not only saves time but also enhances collaboration among development and testing teams by providing a unified platform for managing quality software releases, faster.
Moreover, real-time feedback integrated into GitHub Copilot empowers developers to iterate more efficiently, at speed, ensuring the quality and stability of their codebase. By conveniently viewing regression run results within their coding environment, developers and testers can quickly identify and address potential issues or bugs, facilitating faster resolution and delivery of high-quality software.
“LambdaTest Extension for GitHub Copilot is a huge milestone in our commitment to enable devs and QA processionals worldwide with frictionless experiences to accelerate software delivery.,” said Mohit Juneja, VP, Strategic Sales and Partnerships, LambdaTest. “Gone are the days of switching between multiple applications; now, developers can design, trigger, and analyze tests with simple prompts in natural language, without switching context from the IDE.”
The benefits of the LambdaTest extension extend beyond just test execution. It also offers powerful analysis tools, allowing developers to dive deep into test data, identify trends, and make data-driven decisions to continuously improve code quality and stability.
LambdaTest remains committed to driving innovation in the field of software testing, and this capability is another testament to that commitment. By providing developers and testers with tools to streamline processes and deliver high-quality software efficiently, LambdaTest continues to support and empower software development teams worldwide.
The LambdaTest extension for GitHub Copilot is now available for developers and testers. To learn more and get started, visit https://github.blog/2024-05-21-introducing-github-copilot-extensions
About LambdaTest LambdaTest is an intelligent and omnichannel enterprise execution environment that helps businesses drastically reduce time to market through Just in Time Test Orchestration (JITTO), ensuring quality releases and accelerated digital transformation. Over 10,000+ enterprise customers and 2+ million users across 130+ countries rely on LambdaTest for their testing needs.
Browser & App Testing Cloud allows users to run both manual and automated tests of web and mobile apps across 3000+ different browsers, real devices, and operating system environments.HyperExecute helps customers run and orchestrate test grids in the cloud for any framework and programming language at blazing-fast speeds to cut down on quality test time, helping developers build software faster.For more information, please visit, https://lambdatest.com
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Artificial Intelligence

DeepL announces $300 million investment at $2 billion valuation fueled by global demand for AI language solutions

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Index Ventures led heavily oversubscribed round with participation from late-stage investment firms ICONIQ Growth, Teachers’ Venture Growth, and more Rapid enterprise adoption of DeepL has fueled the company’s growth in 60+ global markets for 100,000+ businesses, governments, and other organizationsDeepL’s Language AI Platform for business provides category-leading AI-powered translation and writing solutions COLOGNE, Germany, May 22, 2024 /PRNewswire/ — DeepL, a leading Language AI company, today announced $300 million of investment at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world. Additional late-stage investors, including ICONIQ Growth, Teachers’ Venture Growth, and others, also participated, along with existing investors IVP, Atomico, and WiL.

“We’re approaching an inflection point in the AI boom where businesses who are racing to adopt the technology begin to discern between hype versus solutions that are secure and actually solve real problems in their business,” said Jarek Kutylowski, founder and CEO of DeepL. “This new investment comes during what is on track to be DeepL’s most transformative year yet and is a testament to the crucial role that our Language AI platform has in solving the complex linguistic challenges global companies face today. We’re highly focused on continued growth and innovation to expand our solutions and ensure they remain industry-leading in terms of quality, precision, and security. This will bring us closer to a future where every company, regardless of location, can operate seamlessly on a global scale with our AI.”
The new investment comes during a period of significant growth and momentum for DeepL, which has amassed a customer network of 100,000+ businesses, governments, and other organizations worldwide. This network includes Zendesk, Nikkei, Coursera, and Deutsche Bahn, who rely on its highly accurate and secure enterprise Language AI platform to deliver seamless communication, driving international growth and cost savings. In response to surging demand from global enterprises, DeepL has accelerated its expansion efforts and strategic investments into key markets over the past year. In January 2024, DeepL deepened its commitment to the U.S.—now its third largest market—by opening its first office in the region. The company continues to expand its team in the U.S. to support growing demand.
Within the last 12 months, DeepL has also substantially broadened its product offerings tailored for businesses. In April 2024, the company launched DeepL Write Pro, a writing assistant specifically tailored for business writing, powered by its own proprietary LLM technology. The company also continues to expand the range of languages supported by its platform with the recent additions of Arabic, as well as Korean and Norwegian, bringing its total number of languages to 32.
“DeepL’s runaway success is a bit of an ‘open secret’ in the business community,” said Danny Rimer, who led the investment from Index Ventures. “The company is exceptionally thoughtful about creating cutting-edge AI products that deliver real and immediate value to their customers. Jarek and the rest of the DeepL team are equally research and commercially minded – both of which are key to the company’s success.” Index Ventures is recognized for its investments in highly successful SaaS businesses like Figma, Slack, Wiz, and Scale AI.
Demand for AI solutions among global enterprises is on the rise. A recent IBM study found that 42% are already actively deploying AI and 40% are exploring its potential. Within this rapidly evolving landscape, DeepL is leading the way in applying AI to transform the $67.9 billion language industry, which is projected to grow to $95.3 billion by 2028.
Since its inception in 2017, DeepL has become the Language AI provider of choice for businesses across multiple industries including manufacturing, legal, retail, healthcare, technology, and professional services. The company’s specialized Language AI platform has become a critical investment for global businesses today, addressing a variety of communication challenges ranging from internal communications to customer support and international market expansion. Unlike general-purpose AI systems, DeepL’s cutting-edge translation and writing solutions rely on specialized AI models specifically tuned for language, resulting in more precise translations for a variety of use cases and a reduced risk of hallucinations and misinformation. In business translation and writing, accuracy is paramount, making specialized AI models the most reliable and preferred solution for language challenges.
DeepL’s Language AI platform is also proven to drive significant cost savings and efficiencies. A 2024 Forrester study revealed that the use of DeepL delivered 345% ROI for global companies, reducing translation time by 90% and driving a 50% in workload reduction, underscoring, in our opinion, the power of its platform for businesses looking to grow their revenue and enter new markets faster and at scale.
“At Zendesk we see first hand the power of infusing AI tools into customer experience, and DeepL’s industry-leading translation is a prime example,” said Adrian McDermott, CTO, Zendesk. “The ability to have accurate AI translation allows companies from startups to large enterprises the ability to scale globally, reaching prospects and existing customers in new ways. Zendesk’s open and flexible platform allows for seamless partnerships, and the tangible results we’ve seen so far from joint customers have us looking forward to continued work with DeepL.”
Looking ahead, DeepL will continue to invest in research and product innovation to strengthen its suite of leading AI communication tools for businesses. The company is also doubling down on global market expansion and talent recruitment across multiple areas including AI research, product, engineering, and GTM.
 
About DeepLDeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP and Index Ventures.
Contact:Sebastian RiesOpeners [email protected]+49 1578 058 8488
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Hyundai Motor and Plus Announce Collaboration to Demonstrate First Level 4 Autonomous Fuel Cell Electric Truck in the U.S.

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Hyundai Motor and Plus collaboration aims to enhance road safety and freight efficiencies by demonstrating benefits of XCIENT Fuel Cell truck equipped with Plus’s Level 4 autonomous driving softwareHyundai Motor’s Class 8 XCIENT Fuel Cell truck featuring Plus’s Level 4 SuperDrive™ system is on display at the Plus ACT Expo booth (#2044)LAS VEGAS and SEOUL, South Korea, May 22, 2024 /PRNewswire/ — Hyundai Motor Company (Hyundai Motor) and autonomous driving software leader Plus today unveiled the first Level 4 autonomous Class 8 hydrogen fuel cell electric truck in the U.S. at the Advanced Clean Transportation (ACT) Expo, the largest advanced clean transportation technology and fleet event in North America.

A result of the collaboration between Hyundai Motor and Plus, Hyundai Motor’s XCIENT Fuel Cell truck, equipped with Plus SuperDrive™ Level 4 autonomous driving technology, is on display at the Plus ACT Expo booth (#2044).
The Level 4 autonomous XCIENT Fuel Cell truck is undergoing initial autonomous driving assessments in the U.S., making it the first-ever Level 4 self-driving test on a Class 8 fuel cell electric truck to take place in the country. The collaboration seeks to show that autonomous hydrogen fuel cell trucks can help make trucking safer, more efficient, and more sustainable.
“We are excited to showcase our collaboration with Plus to test Level 4 autonomous driving technology with our Class 8 XCIENT Fuel Cell truck,” said Martin Zeilinger, Executive Vice President and Head of Commercial Vehicle Development at Hyundai. “Hyundai Motor has been driving the energy transition paradigm with our advanced fuel cell technologies. By adding autonomous capabilities to our world’s first mass-produced hydrogen-powered XCIENT Fuel Cell truck, Hyundai is looking forward to providing fleets and vehicle operators additional solutions that enhance road safety and freight efficiencies thanks to Plus’s industry-leading autonomous driving technology.”
First introduced in 2020, Hyundai Motor’s XCIENT Fuel Cell truck has conducted commercial operations in eight countries worldwide, establishing a successful track record of real-world applications and technological reliability.
At last year’s ACT Expo, Hyundai introduced XCIENT Fuel Cell tractor, the commercialized Class 8 6×4 fuel cell electric model, powered by two 90kW hydrogen fuel cell systems and a 350kW e-motor, providing a driving range of over 450 miles per charge even when fully loaded.
Plus’s SuperDrive™ solution is being deployed across the U.S., Europe, and Australia. The system uses a combination of cutting-edge sensors, including LiDAR, radar and cameras, to provide surround perception, planning, prediction and self-driving capabilities.
“We are thrilled to collaborate with Hyundai Motor Company on this important initiative to create more sustainable and safe transportation options. A decarbonized future with autonomous hydrogen fuel cell electric trucks that also improve safety and efficiency is one that Plus is proud to support with our cutting-edge autonomous driving technology,” said Shawn Kerrigan, COO and Co-Founder at Plus.
Hyundai Motor and Plus have released a video highlighting their collaboration, which can be seen here: https://www.youtube.com/watch?v=_d19h_v7abo.  
About Hyundai Motor Company
More information about Hyundai Motor and its products can be found at: https://www.hyundai.com/worldwide/en/ or Newsroom: Media Hub by Hyundai
About Plus
For more information, visit http://www.plus.ai/.
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