Research Expert: Sarah Overall
  • Published: Apr 2025
  • Pages: 150
  • SKU: IRTNTR45277

  • Latest News- Insurtech Market: Marketing and distribution is expected to lead the Application segment during 2025-2029

    The Insurtech Market is being driven by Increasing need to improve business efficiency

    The Insurtech Market is expected to grow at a CAGR of 43.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 114393.8 million. InsurTech firms, or technology-driven insurance startups, have garnered significant attention from investors, with approximately 1,500 of them, alongside entrepreneurs and insurance executives, convening at a recent conference to discuss the industry's digital transformation. The insurance value chain has been significantly altered by technology, leading to cost savings, enhanced consumer experiences, increased process transparency, and reduced fraud through advanced data analysis and security measures. InsurTech companies are prioritizing consumer demands for customized insurance products and personalized services, making the industry ripe for innovation and growth. 

    Get more information on Insurtech Market by requesting a sample report

    Which Factors Are Causing a Surge in Market Growth?

    The market is segmented based on

    • Application
      • Marketing and distribution
      • IT support
      • Claim management
      • Policy administration and management
      • Others
    • Deployment
      • On-premises
      • Cloud
    • End-User
      • Insurance Companies
      • Brokers
      • Policyholders
    • Technology
      • Artificial Intelligence
      • Blockchain
      • Internet of Things
    • Geography
      • North America
        • Canada
        • Mexico
        • US
      • Europe
        • Germany
        • UK
        • France
        • Italy
      • APAC
        • China
        • India
      • Middle East and Africa
        • South America
          • Brazil

      According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

      • Increasing need to improve business efficiency
      • High influence of digitization
      • Increased need for greater customer satisfaction

      However, the market also witnesses some limitations, which are as follows:

      • High cost of investment
      • Data privacy and security concerns
      • Regulatory and economic uncertainty

      Benefits of Buying Global Insurtech Market Research Report by Technavio

      Rich Experience: 20+ years leading global market research, trusted insights across industries.

      Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

      Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

      Market Scope in Insurtech Market Research Report

      Market Scope

      Report Coverage

      Details

      Page number

      205

      Base year

      2024

      Historic period

      2019-2023

      Forecast period

      2025-2029

      Growth momentum & CAGR

      Accelerate at a CAGR of 43.6%

      Market growth 2025-2029

      USD 114393.8 million

      Market structure

      market_structure.ucfirst

      YoY growth 2024-2025(%)

      41.3

      Key countries

      US, UK, France, Canada, China, Germany, India, Mexico, Brazil, and Italy

      Competitive landscape

      Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

      Request Free Sample

      Find out which segment is leading the market by accessing the free PDF report

      Research Analysis Overview

      The Insurtech market is revolutionizing the insurance industry through API integration, open insurance, and digital solutions. Insurance aggregators and marketplaces offer comparison and selection of policies, while platforms automate processes like claims management, policy administration, and underwriting. Risk management tools include catastrophe modeling, actuarial science, data visualization, and advanced technologies like natural language processing, computer vision, and cyber risk assessment. Enhancements in data security, fraud prevention, and compliance automation ensure customer trust. Loyalty programs, risk mitigation, and reinsurance optimization provide value-added services. Pricing models, actuarial modeling, and insurance analytics leverage data governance and customer insights for personalized offerings. Digital marketing strategies, including social media, content, and influencer marketing, enhance brand experience and user experience through design thinking and agile development.

      Market Research Overview

      The Insurtech market encompasses IT software companies specializing in policy management, claims processing, fraud detection, data analytics, artificial intelligence, and machine learning solutions. This segment falls under the broader global application software market, which focuses on developing and producing software for business and consumer applications. Technavio's market analysis includes revenue generated by these Insurtech companies, offering specialized software solutions for the insurance industry, excluding those classified in the systems software or interactive home entertainment sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.


      Contacts

      Technavio Research
      Jesse Maida
      Media & Marketing Executive
      US: +1 844 364 1100
      UK: +44 203 893 3200
      Email: media@technavio.com
      Website: www.technavio.com/

      Read News Read Less
      Interested in this report?
      Get your sample now!

    Safe and Secure SSL Encrypted

    Technavio

    • 2500 USD

    [5 reports/month/user]

    • 5000 USD

    close
    • Basic Plan [5000 USD/Year]:

      Single User
      Download 5 Reports/Month
      View 100 Reports/Month
      Add upto 3 Users at 625 USD/user

    • Teams Plan [7500 USD/Year]:

      5 User
      Download 5 Reports/Month/User
      View 100 Reports/Month/User
      Add upto 30 Users at 500 USD/user

    *You can upgrade to Teams plan at Subscription page

    close
    • Single:

      One user only.
      Quick & easy download option

    • Enterprise:

      Unlimited user access (Within your organization).
      Complimentary Customization Included

    *For Enterprise license, go to checkout page

    Technavio Get the report (PDF) sent to your email within minutes.