The global insurance industry experienced a 65% drop in company filings mentions of cloud in Q3 2023 compared with the previous quarter, with the highest share accounted for by Cathay Financial with 175% year-on-year increase, according to GlobalData’s analysis of over 34 insurance company filings. GlobalData’s Insurance: Filings Trends & Signals Q3 2023 report delves into earnings call transcripts and quarterly reports within the insurance industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
Notably, cloud was one of the most frequently referenced themes in Q3 2023, ranking highest in terms of mentions, ahead of ecommerce and social media, according to GlobalData.
Of the top leading companies in the insurance industry, Cathay Financial had the greatest increase in references for cloud in Q3 2023, compared with the previous quarter. GlobalData identified 11 cloud-related sentences in the company's filings - 0.2% of all sentences - and an increase of 175% in Q3 2023 compared with Q3 2022. HDFC Life Insurance’s mentions of cloud rose by 100% to 4 and Bajaj Finserv’s by 25% to 3 and Hartford Financial Services Group’s by 200% to 3.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cloud in Q3 2023 was 81.
For further understanding of GlobalData's Insurance: Filings Trends & Signals Q3 2023, buy the report here.