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On-demand Insurance Global Market Report 2023: Increased Consumer Interest in Flexible and Personalized Insurance Schemes Drives Growth

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Dublin, May 16, 2023 (GLOBE NEWSWIRE) — The “On-demand Insurance Market Size, Share & Trends Analysis Report By Coverage (Car, Home Appliances, Entertainment), By End-User (Individuals, Businesses), By Region, And Segment Forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.

The global on-demand insurance market size is expected to reach USD 4.33 billion by 2030, expanding at a CAGR of 21.2% from 2023 to 2030.

The increased consumer interest in flexible and personalized insurance schemes is the key driver of growth for the on-demand insurance industry. The nature of risks faced by individuals and businesses is changing rapidly, with new risks emerging every day. The on-demand insurance policies can be tailored to meet these evolving risks, providing customers with the coverage they need when they need it.

Technological advancement and digitalization have transformed the on-demand insurance industry in many ways. The market has undergone a digital revolution in recent years, with the adoption of new technologies such as online platforms, mobile apps, big data and analytics, artificial intelligence, machine learning, the Internet of Things (IoT), and blockchain.

Blockchain technology helps on-demand insurance providers prevent fraud by providing secure systems that reduce the risk of fraudulent activities, such as double claims, misrepresentation, and falsified documents.

On-demand insurance companies are collaborating to provide digital solutions to their customers. For instance, in December 2021, Zuno General Insurance Limited partnered with PhonePe Private Limited (PhonePe), a digital payments and financial services company based in India, for digital motor insurance products.

Zuni General Insurance Limited launched need-based, on-demand, and bite-sized insurance products in partnership with PhonePe in the digital ecosystem. PhonePe’s extensive customer base would be accessible through this partnership, enabling it to provide simple and all-inclusive digital solutions.

The pandemic has highlighted the need for on-demand insurance coverage, particularly related to business interruption and event cancellations. The on-demand insurance companies have responded by introducing new products to meet these needs, such as trip cancellation, event cancellation insurance, and business interruption insurance.

For instance, in September 2022, InsuranceDekho, an Indian insurance-tech startup, partnered with Reliance General, HDFC Ergo, Baja Allianz, Care, and ICICI Lombard, to offer travel insurance products in India.

On-demand Insurance Market Report Highlights

  • The car insurance segment dominated the market in 2022. Pay-per-mile on-demand car insurance is a more affordable option for drivers who don’t drive very often or who use alternative forms of transportation. By paying only for the miles they drive, drivers are liable to pay reduced insurance premiums as compared to the traditional insurance policy
  • The business segment dominated the market in 2022. The growth of the segment can be attributed to the need for cost-saving insurance policies as it allows businesses to purchase coverage for specific events or projects without having to pay for the full year. This can result in significant cost savings for businesses, particularly for those that operate in industries with seasonal fluctuations. On-demand insurance also allows businesses to tailor coverage to meet the specific needs of their employees, customers, or members
  • The North American region dominated the market in 2022. North America is one of the most technologically advanced regions. The widespread adoption of smartphones, the internet, and other digital technologies has made it easier for insurers to reach customers and offer on-demand insurance services

Key Attributes:

Report Attribute Details
No. of Pages 110
Forecast Period 2022 – 2030
Estimated Market Value (USD) in 2022 $955.3 Million
Forecasted Market Value (USD) by 2030 $4330 Million
Compound Annual Growth Rate 21.2%
Regions Covered Global

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Technological advancement and digitalization across the insurance industry
3.3.1.2. Rising demand for personalized, usage-based, and on-demand insurance
3.3.1.3. Growing internet penetration and smartphone users
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Potential fraudulent claims
3.3.3. Market Opportunity Impact Analysis
3.3.3.1. Growth of the gig economy

Chapter 4. On-demand Insurance Market: Coverage Estimates & Trend Analysis
4.1. Coverage Movement Analysis & Market Share, 2022 & 2030
4.2. On-demand Insurance Market Estimates & Forecast, By Coverage
4.2.1. Car insurance
4.2.2. Home appliances insurance
4.2.3. Entertainment insurance
4.2.4. Contractor Insurance
4.2.5. Electronic equipment insurance
4.2.6. Others

Chapter 5. On-demand Insurance Market: End-User Estimates & Trend Analysis
5.1. End-User Movement Analysis & Market Share, 2022 & 2030
5.2. On-demand Insurance Market Estimates & Forecast, By End-User
5.2.1. Individuals
5.2.2. Businesses

Chapter 6. On-demand Insurance Market: Regional Estimates & Trend Analysis

Chapter 7. Competitive Landscape

Companies Mentioned

  • Slice Insurance Technologies Inc.
  • VSure.life
  • Xceedance, Inc.
  • SkyWatch Insurance Services, Inc.
  • Zuno General Insurance Limited
  • JaSure
  • Thimble
  • JAUNTIN
  • Cuvva
  • Snap-it Cover

For more information about this report visit https://www.researchandmarkets.com/r/5yyhgb

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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Invoca Wins CX Today Award for Best Conversational Intelligence Solution of 2024; Launches European Data Centre and Adds UK Sales Leader

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CX Today recognises Invoca as the foremost visionary in the Conversational Intelligence category. Additionally, expands its European presence with a new Data Centre and the appointment of Duncan MacPherson as UK Director of Sales.
LONDON, March 28, 2024 /PRNewswire/ — Invoca, the leading revenue execution platform for revenue teams, has won the CX Today Award for ‘Best Conversational Intelligence Solution’ of 2024. CX Today, the leading international news publication honouring excellence in CX technology, hosted the CX Awards to honour excellence in CX leadership, technology innovation, and industry success.

“Invoca’s exceptional work in conversational intelligence has helped push the category forward, and we are thrilled to see their accomplishments acknowledged at CX Awards 2024,” said Charlie Mitchell, Senior Editor at CX Today and host of the awards.
The award recognises Invoca’s strength in empowering revenue teams across marketing, contact centre sales, and customer experience to enhance buying experiences, increase high-value leads, and boost revenue. For businesses that acquire customers over the phone, Invoca enables these digital marketing and contact centre teams to collaborate to drive revenue growth. Invoca stands out for capturing deep insights from consumer calls and digital interactions and ingesting revenue driven by calls and other metadata from CRM and contact centre solutions, making Invoca the source of truth for consumer engagements.
“We’re thrilled to be named the Best Conversational Intelligence Solution of 2024 by CX Today as we highlight our longstanding vision to help brands acquire customers and grow their revenue,” said Gregg Johnson, CEO of Invoca. “As AI pioneers in this space, having first introduced our broad base of patented AI technologies in 2015, artificial intelligence and machine learning are core to helping companies improve the customer experience and connect the buyer journey.”
The CX Awards’ judging panel, including Dan Miller, Lead Analyst at Opus Research, reviewed hundreds of applications for their organisation’s ability to improve overall customer experience through innovation and high-impact features.
“Invoca continues to demonstrate that they are a clear leader in conversational intelligence AI. We recognised Invoca for their ability to employ a sophisticated blend of AI technologies — including patented machine learning, generative AI, voice biometrics, and deep learning neural networks, to drive revenue,” said Dan Miller, CX Awards judge and Lead Analyst at Opus Research.
Invoca Launches New European Platform and Data Centre Amid U.K. Sales Leadership Expansion
Invoca continues to reinforce its commitment to maintaining data excellence with unwavering reliability and strict adherence to security standards. Protecting customer data privacy remains a top priority, particularly given the heightened concerns surrounding security and privacy. Invoca’s new European platform and localised data centres support its growing customer base by ensuring all customers can adhere to the highest level of enterprise-grade data privacy, and GDPR compliance standards. Invoca’s powerful EU-based infrastructure enables its customers to recreate the same Invoca experience using the full feature suite while maintaining the highest standards of quality.
Invoca has also welcomed Duncan MacPherson as UK Director of Sales. MacPherson brings extensive experience with large companies and start-ups selling customer engagement solutions. This is part of an overall expansion in the UK market, which includes hiring a localised sales and customer success team, sales development, and marketing support.
More Information:
See the results you can get with Invoca’s award-winning conversation intelligence: https://www.invoca.com/customersInvoca’s GDPR Compliance: Everything You Need to Know: https://www.invoca.com/blog/invocas-gdpr-compliance-everything-you-need-to-knowWatch the CX Today Awards winners revealed on demand: www.cxtoday.com/cxawardsJoin Invoca’s talented team today: https://www.invoca.com/company/careersAbout InvocaInvoca is a revenue execution platform that connects marketing and sales teams to help them track and optimise the buying journey to drive more revenue. By using a comprehensive revenue execution platform with deep integrations with leading technology platforms, revenue teams can better connect their paid media investments directly to revenue, improve digital engagement, and deliver the best buyer experiences to drive more sales. With Invoca, top consumer brands, including AutoNation, DIRECTV, Mayo Clinic, Mutual of Omaha, and Verizon, experience unbelievable results powered by undeniable data. Invoca has raised $184M from leading venture capitalists, including Upfront Ventures, Accel, Silver Lake Waterman, H.I.G. Growth Partners, and Salesforce Ventures. For more information, visit www.invoca.com.
About CX AwardsHosted by CX Today, the awards ceremony has become the beacon of recognition for companies and professionals pushing the envelope in the CX technology sphere.
The CX Awards 2024 is here for its fourth year and is bigger and better than ever before! Winners of the 2023 awards included Vonage, Calabrio, and UJET and more. Then, the ceremony included exclusive streams from our people winners, Jay Patel from Webex and Kimberley Wood from Ultimate. Yet, this year’s event featured many more CX leaders who shared their unique takes on the space.
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ASC Achieves Certification for Webex Calling

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ASC announces compliance recording and AI-driven analytics tool for Webex Calling
HÖSBACH, Germany, March 28, 2024 /PRNewswire/ — ASC Technologies, a leading provider of comprehensive recording and analytics tools, announces its successful certification for Webex Calling with Webex by Cisco, a leading provider of collaboration technologies powering hybrid work and customer experience. This certification distinguishes ASC as one of the few global vendors who are authorized to provide record capabilities for Webex Calling communications. This capability is essential for organizations in regulated industries that must adhere to strict compliance standards.

A key benefit of the ASC solution is the simple and fast configuration in the Webex Control Hub, which ensures a high level of user-friendliness. In addition, ASC enables the migration of on-premise solutions to the cloud by seamlessly transferring recordings to the cloud environment. This step enables organizations to accelerate their digital transformation and take advantage of cloud-based services. In addition, AI-driven analytics, powered by ASC’s solutions, help organizations gain a comprehensive view of their communications, enrich customer relationships, and streamline compliance and risk management processes.
“As a stable company that has been established in the market for 60 years, we see the certification for Webex Calling not only as a confirmation of our technological expertise, but also as a promise to our customers and partners,” says Dr. Gerald Kromer, CEO of ASC. “We are committed to providing innovative and reliable solutions that meet the demands of today’s communications technologies while ensuring our customers’ compliance requirements.”
This certification is a further milestone in ASC’s successful partnership with Cisco, which has already existed for 20 years. ASC will be exhibiting at Enterprise Connect in Gaylord Palms, and Cisco Live in Las Vegas, showcasing its innovative recording and analytics solutions and demonstrating the results of its collaboration with Cisco. These events offer a glimpse into how ASC’s solutions drive efficiency and insight.
About ASC
ASC is a worldwide leading provider of software and cloud solutions in the field of omni-channel recording, quality management, and analytics. Among our target groups are all companies that record their communications, especially financial service providers, contact centers, and public safety organizations. We offer solutions for recording as well as AI-based analysis and evaluation of all communications – with full flexibility as a cloud service, on-premise or as a hybrid solution. Headquartered in Germany with subsidiaries in 14 countries and experienced system integration partners in over 60 countries, ASC is the #1 Europe-based player in its industry.
About Webex by Cisco
Webex is a leading provider of cloud-based collaboration solutions which includes video meetings, calling, messaging, events, customer experience solutions like contact center and purpose-built collaboration devices. At Webex, we start with people and their experiences first. This focus on delivering inclusive collaboration experiences fuels our innovation, which leverages AI and Machine Learning, to remove the barriers of geography, language, personality, and familiarity with technology. Our solutions are underpinned with security and privacy by design. We work with the world’s leading business and productivity apps – delivered through a single application and interface. Learn more at webex.com.
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WSPN and MathWallet Jointly Launch StableWallet, Pioneering AA Wallet for Web3

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TORTOLA, British Virgin Islands, March 28, 2024 /PRNewswire/ — WSPN, a global digital payments leader providing transparent, fast, and efficient solutions leveraging distributed ledger technology, has partnered with leading Web3 wallet provider MathWallet to launch StableWallet – a groundbreaking new account abstraction (AA) wallet that represents a major advancement in the Web3 space. StableWallet provides enhanced security, convenience, and flexibility for managing digital assets across multiple blockchains.

“Through our partnership with MathWallet, we are proud to introduce StableWallet, leveraging pioneering AA technology to transform digital asset management,” said Raymond Yuan, Founder of WSPN. “StableWallet exemplifies our commitment to driving innovation in digital payments and the Web3 ecosystem.”
Account abstraction (AA) wallets represent a significant leap forward in the Web3 ecosystem, blurring the lines between traditional private key wallets and smart contract-based accounts. By integrating both functionalities, AA wallets enable users to define their wallets through programmable smart contracts, unlocking a realm of advanced features and customization options.
Leveraging the transformative power of Account Abstraction, StableWallet stands at the forefront of security innovation, offering unmatched protection through advanced programmable recovery mechanisms and robust multi-signature controls. Seamlessly blending security with convenience, StableWallet ensures a user-centric experience by automating gas fees, simplifying transactions, and providing limitless customization possibilities through deep integration of programmable smart contracts.
Beyond its pioneering security measures, StableWallet serves as a pivotal link between the Ethereum and Polygon ecosystems, facilitating effortless asset management across diverse chains through a unified cross-chain interface. At its debut, StableWallet boasts essential features such as native support for Ethereum and Polygon networks, flexibility in fee token options with WUSD and USDT, and the capacity for multi-chain crypto smart contract wallet functionalities.
“We are thrilled to partner with WSPN and jointly unveil StableWallet’s powerful capabilities,” said Eric, CTO of MathWallet. “By combining cutting-edge account abstraction technology with robust security features and cross-chain compatibility, StableWallet empowers users to explore the decentralized realm with unparalleled confidence.”
Looking ahead, StableWallet has an ambitious roadmap to roll out new capabilities that will further elevate the user experience. Upcoming features include daily free transfers, batch transactions with one-click execution, enterprise multi-signature smart wallets, and integration with collaboration platforms, etc. These additions, among others, will continuously expand StableWallet’s functionality to meet evolving user needs in the Web3 space.
Whether for a seasoned cryptocurrency enthusiast or a beginner to the blockchain world, StableWallet offers a powerful tool to revolutionize user experience of digital asset management. Stay tuned for upcoming feature releases and network expansions as WSPN and MathWallet continue to push the boundaries of Web3 technology.
About WSPN
WSPN is a global digital payments company that provides transparent, fast, and efficient digital payment solutions leveraging the latest technological advancements of Distributed Ledger Technology (“DLT”). We are dedicated to shaping seamless digital payment solutions for our global partners worldwide at the frontier of future digital payments and financial inclusion.
Worldwide USD (‘WUSD’), WSPN’s flagship USD stablecoin, is a fiat-collateralized stablecoin that is pegged to the U.S. Dollar at a 1:1 ratio. Dedicated to optimizing payment solutions for web3 users, WUSD empowers the real economy through secure, transparent, and licensed digital payments, spanning stablecoins, exchanges and cards, all geared for global expansion.
Learn more: www.wspn.io  | Twitter | LinkedIn 
About MathWallet
MathWallet is the Multichain Wallet for Web3 that enables token storage of over 150 chains including BTC, ETH, Polkadot, Cosmos, Filecoin, Solana, BNBChain, etc, supports cross-chain token bridges and multi-chain dApp store. Our investors include Fenbushi Capital, Binance Labs, Fundamental Labs, Multicoin Capital, NGC Ventures, Amber Group, 6Eagle Capital.
Visit mathwallet.org for more information.
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