Augmented Reality (AR) in Insurance – Thematic Intelligence

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Augmented Reality (AR) in Insurance Thematic Report Overview

Augmented reality (AR) is a technology that allows the user to see the real world overlaid with digital data. Smartphones are the primary device for AR applications today. While Big Tech is developing new AR headsets and smart glasses, smartphones are gaining AR capabilities such as advanced spatial awareness, precise positional tracking, and artificial intelligence (AI) tools.

AR has emerged as an innovative tool that allows insurance firms to better interact with customers remotely and to boost efficiency. Insurers are recognizing the potential of AR for streamlining and digitalizing insurance services, making them more appealing to younger demographics.

The ‘Augmented Reality (AR) In Insurance’ thematic intelligence report gives you an in-depth insight into the augmented reality theme and how it will impact the insurance sector. It further entails a deep-dive analysis of the industry, including real-life use case studies that showcase how the insurance sector has responded to the impact of this theme on their operations. The report identifies the key market trends that will shape the AR theme over the coming years and gives an insight into the market players and the competitive landscape within the theme.

Report Pages 58
Regions Covered Global
Value Chain ·        Semiconductors

·        Components

·        Devices

·        Platforms

·        Apps & Content

Leading AR Adopters in Insurance ·        Ageas

·        Allianz

·        AXA

·        Mercury Insurance

·        Sjóvá

Leading AR Vendors ·        Alibaba

·        Alphabet

·        Amazon

·        Apple

·        ByteDance

Specialist AR Vendors in Insurance ·        AiBorne Tech

·        Blippar

·        SightCall

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Augmented Reality (AR) in Insurance - Value Chain Analysis

The augmented reality value chain consists of the semiconductors, components, devices, platforms, and apps & content.

Apps & Content: Content is a major area of concern for AR companies. Gaming is a fertile ground for AR but gaming companies struggle to create novel content. Meanwhile, general apps (e.g., maps), e-commerce (e.g., furniture and cosmetic try-ons), and social media (e.g., Snapchat and Instagram filters) are fast becoming growth avenues.

Media houses and e-commerce companies have been early adopters of AR, while healthcare, engineering, and military organizations also use the technology. Microsoft and PTC among others are investing in AR development platforms to support firms through the AR implementation process. Start-ups such as Re’flekt, Scope AR, and Atheer have also joined the race.

Augmented Reality Value Chain Analysis

Augmented Reality Value Chain Analysis

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Augmented Reality (AR) in Insurance - Leading Companies

A few of the leading insurance companies deploying AR are:

  • Ageas
  • Allianz
  • AXA
  • Mercury Insurance
  • Sjóvá

A few of the leading companies making their mark within the AR theme are:

  • Alibaba
  • Alphabet
  • Amazon
  • Apple
  • ByteDance

A few of the specialist AR vendors in the insurance sector are:

  • AiBorne Tech
  • Blippar
  • SightCall

Key Companies in the Augmented Reality (AR) in Insurance Theme

Key Companies in the Augmented Reality (AR) in Insurance Theme

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Non-Life Insurance Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecard has three screens: A thematic screen, a valuation screen, and a risk screen.

  • The thematic screen ranks companies based on overall leadership in the 10 themes that matter most to their industry, generating a leading indicator of future performance.
  • The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.
  • The risk screen ranks companies within a particular sector based on overall investment risk.
  • The augmented reality (AR) in banking – thematic intelligence report also includes retail banking scorecards.

Non-Life Insurance Sector Scorecard – Thematic Screen

Non-Life Insurance Sector Scorecard – Thematic Screen

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The AR in Insurance market report also includes:

  • Life insurance sector scorecard

Scope

The use cases of AR can help solve some of the challenges insurers face, while also changing the way providers advertise and the way they engage with customers.

As more insurance companies use AR, they will see benefits such as an improved customer experience and increased operational efficiency.

According to GlobalData forecasts, AR will become a $100 billion market by 2030.

Key Highlights

  • The use cases of AR can help solve some of the challenges insurers face, while also changing the way providers advertise and the way they engage with customers.
  • As more insurance companies use AR, they will see benefits such as an improved customer experience and increased operational efficiency.

Reasons to Buy

  • Benchmark yourself against the rest of the market.
  • Gain valuable insights into the intersection of AR and the insurance industry.
  • Understand the potential benefits and opportunities of integrating AR technology into insurance processes.
  • Ensure you remain competitive as new innovations and developments in AR transform the insurance industry.
  • Position yourself for success by understanding the ways in which AR can help solve major challenges within the insurance space, including ESG and cybersecurity risks.

Ageas
Allianz
Allstate
AXA
Direct Line
Hiscox
Tokio Marine Holdings
USAA
Zurich Insurance AIG
Bright Health
Chubb
Humana
Metromile
Old Mutual
PartnerRe
Mercury Insurance

Table of Contents

  • 1. Inside
  • 2. Executive Summary

    • 2.1. Related reports
    • 2.2. Report type

  • 3. Players
  • 4. Insurance Challenges
  • 5. The Impact of Augmented Reality on Insurance

    • 5.1. How AR helps tackle the challenge of ESG
    • 5.2. How AR helps tackle the challenge of insurtech
    • 5.3. How AR helps tackle the challenge of cybersecurity risks
    • 5.4. How AR helps tackle the challenge of digitalization among the younger generation
    • 5.5. How AR helps tackle the challenge of a lack of trust in insurers

  • 6. Case Studies

    • 6.1. Sjóvá used SightCall to increase the efficiency of the claims process
    • 6.2. AiBorne Tech’s platform is streamlining vehicle inspections using AR and AI
    • 6.3. Mercury Insurance provided an AR experience in partnership with the LA Kings

  • 7. Augmented Reality Timeline
  • 8. Market Size and Growth Forecasts

    • 8.1. AR software
    • 8.2. AR hardware

  • 9. Signals

    • 9.1. M&A trends
    • 9.2. Patent trends
    • 9.3. Company filing trends
    • 9.4. Hiring trends

  • 10. Augmented Reality Value Chain

    • 10.1. Semiconductors

      • 10.1.1. Central processing units
      • 10.1.2. Graphics processing units
      • 10.1.3. Vision processing units
      • 10.1.4. Image processors
      • 10.1.5. Communication chips
      • 10.1.6. Micro-electromechanical systems (MEMS)
      • 10.1.7. Memory chips

    • 10.2. Components

      • 10.2.1. Motion tracking
      • 10.2.2. Batteries
      • 10.2.3. Displays
      • 10.2.4. Cameras and 3D lenses
      • 10.2.5. Audio component
      • 10.2.6. Machine vision

    • 10.3. Devices

      • 10.3.1. Smartphones
      • 10.3.2. AR smart glasses
      • 10.3.3. AR headsets

    • 10.4. Platforms

      • 10.4.1. The impact of generative AI

    • 10.5. Apps and content

  • 11. Companies

    • 11.1. Leading augmented reality adopters in insurance
    • 11.2. Leading augmented reality vendors
    • 11.3. Specialist augmented reality vendors in insurance

  • 12. Sector Scorecards

    • 12.1. Non-life insurance sector scorecard

      • 12.1.1. Who’s who
      • 12.1.2. Thematic screen
      • 12.1.3. Valuation screen
      • 12.1.4. Risk screen

    • 12.2. Life insurance sector scorecard

      • 12.2.1. Who’s who
      • 12.2.2. Thematic screen
      • 12.2.3. Life insurance valuation screen
      • 12.2.4. Risk screen

  • 13. Glossary
  • 14. Further Reading

    • 14.1. GlobalData reports

  • 15. Our Thematic Research Methodology

    • 15.1. Viewing the world’s data by themes makes it easier to make important decisions
    • 15.2. Traditional research does a poor job of picking winners and losers
    • 15.3. That is why we developed our thematic engine
    • 15.4. How do we create our sector scorecards?
    • 15.5. What is in our sector scorecards?
    • 15.6. How do we score companies in our thematic screen?
    • 15.7. How do our research reports fit into our overall thematic research ecosystem?

  • 16. About GlobalData
  • 17. Contact Us

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