Insurance Rating Management Software Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.5 Billion by 2030, growing at a CAGR of 10.2% from 2024 to 2030.
Looking forward to the 2023 to 2033 period, the demand for insurance rating management software is expected to continue expanding, albeit at a different pace and with new considerations. The market is likely to see a shift toward more customized and integrated solutions that are increasingly focused on personalization and customer experience. Insurers are expected to invest more in artificial intelligence (AI) and machine learning (ML) technologies to enhance predictive modeling capabilities, improve pricing accuracy, and offer real-time adjustments based on customer behavior. Additionally, regulatory requirements and the push for digitalization in insurance processes are likely to be key drivers. The transition to cloud computing will also facilitate the expansion of rating management systems across multiple regions, helping insurers streamline their operations and reduce costs associated with legacy systems.
With AI-driven automation becoming more prominent, insurers are expected to rely on these solutions to handle vast amounts of data, automate complex rating processes, and improve operational efficiency. Additionally, the need for seamless integration between various insurance systems, including customer relationship management (CRM) platforms, policy administration systems, and claims management software, will push insurers to adopt more unified platforms that offer end-to-end capabilities. While the 2018-2022 market witnessed considerable growth, the next decade will likely see more consolidation of software solutions as insurers look to future-proof their operations in an increasingly digital-first environment.
Get an In-Depth Research Analysis of the Global Insurance Rating Management Software Market Size And Forecast [2025-2032]
The Insurance Rating Management Software market experienced significant growth from 2018 to 2022, driven by the increasing need for automation and accuracy in pricing within the insurance industry. In this period, the demand for advanced rating solutions surged as insurance providers sought more efficient ways to manage complex rate structures, comply with regulatory standards, and improve customer service. Software solutions became essential in helping insurers automate underwriting processes, enhance risk assessment models, and offer competitive pricing strategies. Moreover, the rise of digital transformation and big data analytics contributed to an acceleration in the adoption of rating management systems. The market was particularly influenced by key technological trends such as AI-driven analytics, cloud-based platforms, and API integrations, which provided insurers with the flexibility and scalability required to meet evolving customer expectations.
Vertafore
Applied Systems
EZLynx
ACS
ITC
HawkSoft
Sapiens
Agency Matrix
Buckhill
InsuredHQ
Zhilian Software
Equisoft
Akur8
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
Get Discount On The Purchase of the Global Insurance Rating Management Software Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the Global Insurance Rating Management Software Market
Commercial
Household
Based on Types the Market is categorized into Below types that held the largest Insurance Rating Management Software market share In 2023.
Cloud-Based
On-Premise
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
For More Information or Query, Visit @ Insurance Rating Management Software Market Research Analysis
1. Introduction of the Global Insurance Rating Management Software Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Insurance Rating Management Software Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Insurance Rating Management Software Market, By Type
6. Global Insurance Rating Management Software Market, By Application
7. Global Insurance Rating Management Software Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Insurance Rating Management Software Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Global Research and Consulting firm servicing over 5000+ global clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/