Global AI in Auto Insurance Market is valued USD 1.21 Billion in 2019 and is projected is to exhibit 21.3% CAGR during the forecast period. The market is projected to be around USD 4.68 Billion by 2026. The market is driven by the growing adoption of AI in most of the industries.

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AI in Auto Insurance Market Dynamics
Growing adoption of AI in most of the industries, AI has significantly found its way in the automotive sector. Artificial intelligence allows the car insurance industry to efficiently offer services to its consumers that are looking for faster payouts, faster services, and customized policy prices. The AI in the auto insurance market enables the insurance companies to reach out to its customers at the right time, offers the right set of products, and faster the claim process.
Additionally, the features like the uninterrupted flow of business information, automated claim support, interactive power of insurance chatbots, predictive analytics, and others are creating a significant demand for Artificial intelligence in the auto insurance market.
AI in Auto Insurance Market Insight
In Europe, Germany dominates the AI in the auto insurance market. Germany is one of the leading producers of automobiles in the world. Also, many major car manufacturing industries are locating in Germany including Volkswagen, BMW AG, Audi, and others. Furthermore, privacy concerns make consumers cautious about sharing data. Major IT hubs housed in the European continents, and the huge automotive industry in Germany spread across the European continent.
AI in Auto Insurance Market Segmentation
The global AI in Auto Insurance Market is segmented into product type, application, and region. On the basis of the product type the market is divided into software, services. Based on application the market is segmented into commercial, non-commercial. And based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
AI in Auto Insurance Market Competitive Landscape
The key players in AI in Auto Insurance Market are listed as Ant Financial Services Group, CCC Information Services Inc., CLAIM GENIUS INC., Clearcover, Inc., Microsofr Corporation, GEICO, ICICI, Nauto, Solaria, The Progressive Corporation, and Other.