U.S. Property and Casualty Insurance Market Analysis By Insurance Type, Size, Share, Trend, Competition, Future Growth Forecast 2027 | TechSci Research
United States property & casualty insurance market is expected to witness substantial CAGR during the forecast period. Double-digit premium growth, lower catastrophe losses, and an improved auto market are some key contributing factors to the growth in U.S. property and casualty insurance market. Insurers are using big data analytics to enhance their performance. Big data is being used in claim management, pricing, underwriting and risk selection, among others. This growth is mainly driven by increasing points of contact including social media, which provides a bulk of data that can be transformed into insights and leveraged by insurers to efficiently execute the settlement process. Property & casualty insurance market supports US consumers and businesses by facilitating protection against damage caused by a variety of incidents including car accidents, medical malpractices and catastrophe. This makes the industry a crucial part of risk management in the domestic economy of Un...