The newly released Insurtech Market Size 2025 research report offers comprehensive insights, data-driven forecasts, and strategic analysis designed to empower businesses with a clear understanding of market dynamics and growth opportunities. Backed by in-depth research and industry expertise, this report serves as a valuable tool for decision-makers looking to navigate competitive landscapes, identify emerging trends, and make informed strategic investments. It is an essential resource for companies aiming to gain a competitive advantage and drive sustainable growth in today’s rapidly evolving market environment. The global insurtech market size was valued at USD 15.56 billion in 2024. The market is projected to grow from USD 19.06 billion in 2025 to USD 96.10 billion by 2032, exhibiting a CAGR of 26.0% during the forecast period.
What's covered in the report?
Overview of the Insurtech Market.
The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Insurtech Market, based on segment.
Insurtech Market trends.
Insurtech Market drivers.
Analysis of major company profiles.
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Overview of the impact of COVID-19 on this market:
The advent of COVID-19 has brought the world to a standstill. We know that this health crisis has had an unprecedented impact on businesses across industries. However, this too shall pass. Increased support from governments and various companies can help in the fight against this highly contagious disease. Some industries are struggling, while others are thriving. Overall, almost every sector is expected to be affected by the pandemic.
We are working tirelessly to ensure your business continues to thrive and grow during the COVID-19 pandemic. Drawing on our experience and expertise, we will provide industry-wide analysis of the impact of the coronavirus outbreak to help you prepare for the future.
Factors Driving the Demand in the Global Insurtech Market
The growing demand for more convenient, transparent, and affordable insurance solutions is a primary driver of the Insurtech Market. Traditional insurance models are often viewed as complex and outdated, prompting consumers to seek faster, more user-friendly digital alternatives. Insurtech firms are addressing this gap by offering simplified onboarding, real-time policy quotes, and instant claims processing through digital platforms. The increasing use of mobile apps and on-demand services is further reinforcing the need for agile and customer-centric insurance products.
Moreover, the COVID-19 pandemic accelerated digital adoption across industries, including insurance, creating long-term demand for remote, paperless, and AI-driven processes. Venture capital investments in insurtech startups have surged, fueling innovation in niche areas such as peer-to-peer insurance, microinsurance, and usage-based coverage. Additionally, regulatory support for digital transformation and open insurance frameworks in various countries is enabling more collaboration between insurtechs and traditional insurers. As consumers become more aware of the value of customized and data-driven insurance services, the global insurtech market is poised for continued growth.
Who Are the Top Competitors in Key Insurtech Market Segments?
NTT Data Corporation (Japan)
Hexaview Technologies, Inc. (U.S.)
InsureMO Corporation (Singapore)
Damco Group (U.S.)
DXC Technology (U.S.)
Insurance Technology Services (U.S.)
Majesco (U.S.)
Oscar Insurance (U.S.)
Quantemplate (U.S.)
Shift Technology (France)
Wipro Limited (India)
ZhongAn Insurance (China)
Acko General Insurance (India)
Metromile (U.S.)
Alan (France)
Luko (France)
Benevolent (U.K.)
Evari (Australia)
Brolly (U.K.)
Vouch Insurance (U.S.)
Major Trends in the Global Insurtech Market
The Insurtech Market is undergoing rapid transformation as digital technologies reshape how insurance products are developed, distributed, and managed. A major trend is the use of artificial intelligence (AI), machine learning (ML), and data analytics to personalize insurance offerings, automate underwriting, and enhance claims processing. These technologies enable insurers to analyze customer behavior, risk factors, and real-time data from wearables, telematics, and IoT devices to offer more tailored and dynamic pricing models. This shift toward hyper-personalization is improving customer satisfaction and operational efficiency across the insurance value chain.
Another key trend is the rise of embedded insurance, where coverage is seamlessly integrated into the purchase of other products or services—such as travel booking, e-commerce, or ride-sharing platforms. This model is simplifying access to insurance and expanding reach to underinsured segments. Additionally, the increasing adoption of blockchain and smart contracts is helping to enhance transparency, prevent fraud, and streamline policy administration. Digital-first and mobile-native platforms are also becoming the norm, offering self-service portals, chatbots, and digital claims management that appeal to tech-savvy customers, especially millennials and Gen Z.
Market Segments
Market segmentation involves dividing a broad consumer or business market into sub-groups of consumers based on shared characteristics. These segments can be defined by demographic, geographic, psychographic, and behavioral factors. Understanding these segments allows businesses to tailor their products, services, and marketing strategies to better meet the specific needs of each group. By focusing on distinct market segments, companies can enhance customer satisfaction, improve targeting efficiency, and increase overall competitiveness in the marketplace.
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Key findings of the report:
Comprehensive overview of the Insurtech Market
Important factors that enable, restrict, challenge and provide opportunities for the market
Key Insights and Key Industry Developments
Key players operating in the Insurtech Market
Key strategies adopted by players include new product launches and company collaborations to generate better profits.
Other Market Trends
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Insurtech Market?
2. What is the CAGR expected in the Insurtech Market?
3. What Are the Key Innovations Transforming the Insurtech Market?
4. Which Region Is Leading the Insurtech Market?
Which Regions Are Becoming Hubs for Insurtech Market Innovation?
North America (United States and Canada)
Europe (UK, Germany, France, Italy, Spain, Scandinavia and other European countries)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and other Latin American countries)
The Insurtech Market research report provides a complete assessment of the industry. The forecasts included in the report have been determined using proven research philosophy and assumptions.
Research Methodology:
We follow a robust research methodology that includes data triangulation based on bottom-up and top-down approaches and validation of estimated market figures through primary research. The information used to estimate the market size and forecast for various segments at global, regional and country levels is derived from the most reliable published sources and interviews with relevant stakeholders.
The growth rate or CAGR shown in the market during a specific forecast period is calculated based on various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technology developments, and market trends.
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Key Table of Contents of Insurtech Market Research Report:
introduction
summation
Market Trends
Key Insurtech Market Insights
Global Market Analysis, Insights and Forecasts
North America Market Analysis, Insights and Forecasts
European Market Analysis, Insights and Forecasts
Asia Pacific Market Analysis, Insights and Forecasts
Middle East and Africa Market Analysis, Insights and Forecasts
Latin America Market Analysis, Insights and Forecasts
Competitive environment
Global Insurtech Market Revenue Share Analysis, By Key Players, 2025
Company Profile
conclusion
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