세계의 인슈어테크 시장 규모, 점유율, 성장 및 산업 분석 : 유형별, 용도별, 지역별 인사이트 및 예측(2024-2032년)

Growth Factors of insurtech Market

The global insurtech market continues to expand rapidly as the insurance industry embraces digital transformation. According to the latest market assessment, the insurtech market was valued at USD 15.56 billion in 2024 and is projected to rise to USD 19.06 billion in 2025, before accelerating to an impressive USD 96.10 billion by 2032. This sharp growth reflects a powerful CAGR of 26.0% during the forecast period. In 2024, North America led the global market with a 47.62% share, driven by deep digital adoption, strong investment patterns, and a matured insurance technology ecosystem.

Insurtech refers to the innovative use of technology-including AI, machine learning, cloud computing, automation, and SaaS platforms-to transform traditional insurance systems. These solutions streamline underwriting, claims management, fraud detection, policy administration, and customer experience. For example, in March 2024, CIBC partnered with Insuritas to launch BUNDLE, a fully digital insurance agency platform integrated into its financial ecosystem. Such advancements reflect how insurers and banks are embedding technology into their customer offerings.

Market Drivers

Digital Transformation Accelerating Insurance Innovation

The industry is experiencing a strong shift toward fully digital operations. Insurers are integrating AI-driven underwriting, automated claims processing, and predictive analytics to enhance decision-making and customer satisfaction. The adoption of cloud-based platforms enables real-time policy tracking and seamless customer engagement. For instance, Lemonade's AI bot Maya, introduced earlier, demonstrates how automation can process claims with minimal human involvement, significantly reducing costs and processing time. As insurance companies race to modernize legacy systems, demand for insurtech solutions continues to grow from USD 15.56 billion (2024) to USD 19.06 billion (2025).

Market Restraints

Data Privacy and Security Challenges

Despite strong adoption, concerns surrounding data privacy remain a core barrier. Insurtech relies heavily on distributed ledger technology, analytics, and interconnected databases-systems that are vulnerable to breaches if not carefully regulated. The decentralized nature of blockchain means accountability issues can arise in the event of fraud or disputes. Furthermore, regulatory frameworks differ across jurisdictions, complicating compliance for global insurtech firms. As digital transformation accelerates, insurers must balance innovation with robust cybersecurity measures.

Market Opportunities

Rise of Peer-to-Peer (P2P) Insurance Models

The emergence of peer-to-peer insurance presents enormous growth potential. These community-based models lower administrative costs and increase transparency. For example, Friendsurance (Germany) enables small customer groups to pool premiums and receive refunds when claims are low. As consumers increasingly demand cost-effective, community-driven insurance experiences, insurtech companies are capitalizing on this disruptive opportunity.

Market Trends

Shift Toward Fully Automated & Embedded Insurance

Automation is redefining the insurance value chain. Digital-first insurers such as Root and Lemonade leverage telematics, smartphone apps, and AI to offer on-demand coverage. Embedded insurance-a model where insurance is integrated into the purchase of a product or service-is also rapidly gaining acceptance. These trends align with changing consumer expectations for convenience, leading to strong growth toward USD 96.10 billion by 2032.

Segmentation Overview

By Component:

Solutions (digital platforms, SaaS, mobile apps) dominated with 55.40% share in 2024, while services are projected to grow fastest due to rising digitization needs.

By Application:

Policy administration and management led the market in 2024 and is expected to hold 25.60% share in 2025, supported by analytics-driven policy optimization. Underwriting and risk assessment is forecast to grow at a 33.30% CAGR, making it the fastest-growing application.

By Technology:

AI & ML dominated in 2024 due to their precision in risk assessment. Big data & analytics will gain 23.30% market share by 2025, growing at 31.20% CAGR.

By End-User:

Insurance companies led the market and are projected to capture 46.50% share in 2025, driven by end-to-end digital transformation initiatives.

Regional Outlook

North America led the market in 2024 at USD 7.41 billion, supported by high insurtech investment of USD 61.9 billion in U.S. and Canadian startups.

Europe is projected to reach USD 3.21 billion in 2025, driven by regulatory modernization.

Asia Pacific is expected to reach USD 4.96 billion in 2025, experiencing the second-highest CAGR at 33.90%.

Middle East & Africa will hit USD 0.96 billion in 2025, with strong mobile-first adoption.

South America continues to evolve with AI-powered insurance platforms.

Conclusion

With its value rising from USD 15.56 billion (2024) to USD 96.10 billion (2032), the global insurtech market stands at the forefront of insurance modernization. Driven by AI, automation, big data, and embedded insurance models, the industry is poised to fundamentally reshape how insurance is delivered, managed, and consumed worldwide.

Segmentation By Component

• Solution
  • Digital Platforms
  • SaaS
  • Mobile Applications
• Services

By Application

• Claims Management
• Policy Administration and Management
• Fraud Detection and Prevention
• Underwriting and Risk Assessment
• Customer Experience Management
• Regulatory Compliance
• Sales and Distribution

By Technology

• AI & ML
• Blockchain
• Internet of Things
• Big Data and Analytics
• Cloud Computing
• Robotic Process Automation
• Others

By End-User

• Insurance Companies
• Brokers and Agents
• Third-Party Administrators
• Insureds

By Region

• North America (By Component, Application, Technology, End-User, and Country)
  • U.S.
  • Canada
  • Mexico
• Europe (By Component, Application, Technology, End-User, and Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of Europe
• Asia Pacific (By Component, Application, Technology, End-User, and Country)
  • China
  • India
  • Japan
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific
• Middle East & Africa (By Component, Application, Technology, End-User, and Country)
  • Turkey
  • Israel
  • GCC
  • North Africa
  • South Africa
  • Rest of MEA
• South America (By Component, Application, Technology, End-User, and Country)
  • Brazil
  • Argentina

Rest of South America

Companies Profiled in the Report 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.), and Shift Technology (France)

Table of Content

1. Introduction

• 1.1. Definition, By Segment
• 1.2. Research Methodology/Approach
• 1.3. Data Sources

2. Executive Summary

3. Market Dynamics

• 3.1. Macro and Micro Economic Indicators
• 3.2. Drivers, Restraints, Opportunities and Trends
• 3.3. Impact of Generative AI

4. Competition Landscape

• 4.1. Business Strategies Adopted by Key Players
• 4.2. Consolidated SWOT Analysis of Key Players
• 4.3. Global Insurtech Key Players (Top 3 - 5) Market Share/Ranking, 2024

5. Global Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 5.1. Key Findings
• 5.2. By Component (USD)
  • 5.2.1. Solution
    • 5.2.1.1. Digital Platforms
    • 5.2.1.2. SaaS
    • 5.2.1.3. Mobile Applications
  • 5.2.2. Services
• 5.3. By Application (USD)
  • 5.3.1. Claims Management
  • 5.3.2. Policy Administration and Management
  • 5.3.3. Fraud Detection and Prevention
  • 5.3.4. Underwriting and Risk Assessment
  • 5.3.5. Customer Experience Management
  • 5.3.6. Regulatory Compliance
  • 5.3.7. Sales and Distribution
• 5.4. By Technology (USD)
  • 5.4.1. AI & ML
  • 5.4.2. Blockchain
  • 5.4.3. Internet of Things
  • 5.4.4. Big Data and Analytics
  • 5.4.5. Cloud Computing
  • 5.4.6. Robotic Process Automation
  • 5.4.7. Others
• 5.5. By End User (USD)
  • 5.5.1. Insurance Companies
  • 5.5.2. Brokers and Agents
  • 5.5.3. Third-Party Administrators
  • 5.5.4. Insureds
• 5.6. By Region (USD)
  • 5.6.1. North America
  • 5.6.2. Europe
  • 5.6.3. Asia Pacific
  • 5.6.4. Middle East & Africa
  • 5.6.5. South America

6. North America Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 6.1. Key Findings
• 6.2. By Component (USD)
  • 6.2.1. Solution
    • 6.2.1.1. Digital Platforms
    • 6.2.1.2. SaaS
    • 6.2.1.3. Mobile Applications
  • 6.2.2. Services
• 6.3. By Application (USD)
  • 6.3.1. Claims Management
  • 6.3.2. Policy Administration and Management
  • 6.3.3. Fraud Detection and Prevention
  • 6.3.4. Underwriting and Risk Assessment
  • 6.3.5. Customer Experience Management
  • 6.3.6. Regulatory Compliance
  • 6.3.7. Sales and Distribution
• 6.4. By Technology (USD)
  • 6.4.1. AI & ML
  • 6.4.2. Blockchain
  • 6.4.3. Internet of Things
  • 6.4.4. Big Data and Analytics
  • 6.4.5. Cloud Computing
  • 6.4.6. Robotic Process Automation
  • 6.4.7. Others
• 6.5. By End User (USD)
  • 6.5.1. Insurance Companies
  • 6.5.2. Brokers and Agents
  • 6.5.3. Third-Party Administrators
  • 6.5.4. Insureds
• 6.6. By Country (USD)
  • 6.6.1. United States
  • 6.6.2. Canada
  • 6.6.3. Mexico

7. Europe Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 7.1. Key Findings
• 7.2. By Component (USD)
  • 7.2.1. Solution
    • 7.2.1.1. Digital Platforms
    • 7.2.1.2. SaaS
    • 7.2.1.3. Mobile Applications
  • 7.2.2. Services
• 7.3. By Application (USD)
  • 7.3.1. Claims Management
  • 7.3.2. Policy Administration and Management
  • 7.3.3. Fraud Detection and Prevention
  • 7.3.4. Underwriting and Risk Assessment
  • 7.3.5. Customer Experience Management
  • 7.3.6. Regulatory Compliance
  • 7.3.7. Sales and Distribution
• 7.4. By Technology (USD)
  • 7.4.1. AI & ML
  • 7.4.2. Blockchain
  • 7.4.3. Internet of Things
  • 7.4.4. Big Data and Analytics
  • 7.4.5. Cloud Computing
  • 7.4.6. Robotic Process Automation
  • 7.4.7. Others
• 7.5. By End User (USD)
  • 7.5.1. Insurance Companies
  • 7.5.2. Brokers and Agents
  • 7.5.3. Third-Party Administrators
  • 7.5.4. Insureds
• 7.6. By Country (USD)
  • 7.6.1. U.K.
  • 7.6.2. Germany
  • 7.6.3. France
  • 7.6.4. Italy
  • 7.6.5. Spain
  • 7.6.6. Russia
  • 7.6.7. Benelux
  • 7.6.8. Nordics
  • 7.6.9. Rest of Europe

8. Asia Pacific Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 8.1. Key Findings
• 8.2. By Component (USD)
  • 8.2.1. Solution
    • 8.2.1.1. Digital Platforms
    • 8.2.1.2. SaaS
    • 8.2.1.3. Mobile Applications
  • 8.2.2. Services
• 8.3. By Application (USD)
  • 8.3.1. Claims Management
  • 8.3.2. Policy Administration and Management
  • 8.3.3. Fraud Detection and Prevention
  • 8.3.4. Underwriting and Risk Assessment
  • 8.3.5. Customer Experience Management
  • 8.3.6. Regulatory Compliance
  • 8.3.7. Sales and Distribution
• 8.4. By Technology (USD)
  • 8.4.1. AI & ML
  • 8.4.2. Blockchain
  • 8.4.3. Internet of Things
  • 8.4.4. Big Data and Analytics
  • 8.4.5. Cloud Computing
  • 8.4.6. Robotic Process Automation
  • 8.4.7. Others
• 8.5. By End User (USD)
  • 8.5.1. Insurance Companies
  • 8.5.2. Brokers and Agents
  • 8.5.3. Third-Party Administrators
  • 8.5.4. Insureds
• 8.6. By Country (USD)
  • 8.6.1. China
  • 8.6.2. India
  • 8.6.3. Japan
  • 8.6.4. South Korea
  • 8.6.5. ASEAN
  • 8.6.6. Oceania
  • 8.6.7. Rest of Asia Pacific

9. Middle East & Africa Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 9.1. Key Findings
• 9.2. By Component (USD)
  • 9.2.1. Solution
    • 9.2.1.1. Digital Platforms
    • 9.2.1.2. SaaS
    • 9.2.1.3. Mobile Applications
  • 9.2.2. Services
• 9.3. By Application (USD)
  • 9.3.1. Claims Management
  • 9.3.2. Policy Administration and Management
  • 9.3.3. Fraud Detection and Prevention
  • 9.3.4. Underwriting and Risk Assessment
  • 9.3.5. Customer Experience Management
  • 9.3.6. Regulatory Compliance
  • 9.3.7. Sales and Distribution
• 9.4. By Technology (USD)
  • 9.4.1. AI & ML
  • 9.4.2. Blockchain
  • 9.4.3. Internet of Things
  • 9.4.4. Big Data and Analytics
  • 9.4.5. Cloud Computing
  • 9.4.6. Robotic Process Automation
  • 9.4.7. Others
• 9.5. By End User (USD)
  • 9.5.1. Insurance Companies
  • 9.5.2. Brokers and Agents
  • 9.5.3. Third-Party Administrators
  • 9.5.4. Insureds
• 9.6. By Country (USD)
  • 9.6.1. Turkey
  • 9.6.2. Israel
  • 9.6.3. GCC
  • 9.6.4. North Africa
  • 9.6.5. South Africa
  • 9.6.6. Rest of MEA

10. South America Insurtech Market Size Estimates and Forecasts, By Segments, 2019-2032

• 10.1. Key Findings
• 10.2. By Component (USD)
  • 10.2.1. Solution
    • 10.2.1.1. Digital Platforms
    • 10.2.1.2. SaaS
    • 10.2.1.3. Mobile Applications
  • 10.2.2. Services
• 10.3. By Application (USD)
  • 10.3.1. Claims Management
  • 10.3.2. Policy Administration and Management
  • 10.3.3. Fraud Detection and Prevention
  • 10.3.4. Underwriting and Risk Assessment
  • 10.3.5. Customer Experience Management
  • 10.3.6. Regulatory Compliance
  • 10.3.7. Sales and Distribution
• 10.4. By Technology (USD)
  • 10.4.1. AI & ML
  • 10.4.2. Blockchain
  • 10.4.3. Internet of Things
  • 10.4.4. Big Data and Analytics
  • 10.4.5. Cloud Computing
  • 10.4.6. Robotic Process Automation
  • 10.4.7. Others
• 10.5. By End User (USD)
  • 10.5.1. Insurance Companies
  • 10.5.2. Brokers and Agents
  • 10.5.3. Third-Party Administrators
  • 10.5.4. Insureds
• 10.6. By Country (USD)
  • 10.6.1. Brazil
  • 10.6.2. Argentina
  • 10.6.3. Rest of South America

11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)

• 11.1. NTT Data Corporation
  • 11.1.1. Overview
    • 11.1.1.1. Key Management
    • 11.1.1.2. Headquarters
    • 11.1.1.3. Offerings/Business Segments
  • 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.1.2.1. Employee Size
    • 11.1.2.2. Past and Current Revenue
    • 11.1.2.3. Geographical Share
    • 11.1.2.4. Business Segment Share
    • 11.1.2.5. Recent Developments
• 11.2. Hexaview Technologies, Inc.
  • 11.2.1. Overview
    • 11.2.1.1. Key Management
    • 11.2.1.2. Headquarters
    • 11.2.1.3. Offerings/Business Segments
  • 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.2.2.1. Employee Size
    • 11.2.2.2. Past and Current Revenue
    • 11.2.2.3. Geographical Share
    • 11.2.2.4. Business Segment Share
    • 11.2.2.5. Recent Developments
• 11.3. InsureMO Corporation
  • 11.3.1. Overview
    • 11.3.1.1. Key Management
    • 11.3.1.2. Headquarters
    • 11.3.1.3. Offerings/Business Segments
  • 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.3.2.1. Employee Size
    • 11.3.2.2. Past and Current Revenue
    • 11.3.2.3. Geographical Share
    • 11.3.2.4. Business Segment Share
    • 11.3.2.5. Recent Developments
• 11.4. Damco Group
  • 11.4.1. Overview
    • 11.4.1.1. Key Management
    • 11.4.1.2. Headquarters
    • 11.4.1.3. Offerings/Business Segments
  • 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.4.2.1. Employee Size
    • 11.4.2.2. Past and Current Revenue
    • 11.4.2.3. Geographical Share
    • 11.4.2.4. Business Segment Share
    • 11.4.2.5. Recent Developments
• 11.5. DXC Technology
  • 11.5.1. Overview
    • 11.5.1.1. Key Management
    • 11.5.1.2. Headquarters
    • 11.5.1.3. Offerings/Business Segments
  • 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.5.2.1. Employee Size
    • 11.5.2.2. Past and Current Revenue
    • 11.5.2.3. Geographical Share
    • 11.5.2.4. Business Segment Share
    • 11.5.2.5. Recent Developments
• 11.6. Insurance Technology Services
  • 11.6.1. Overview
    • 11.6.1.1. Key Management
    • 11.6.1.2. Headquarters
    • 11.6.1.3. Offerings/Business Segments
  • 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.6.2.1. Employee Size
    • 11.6.2.2. Past and Current Revenue
    • 11.6.2.3. Geographical Share
    • 11.6.2.4. Business Segment Share
    • 11.6.2.5. Recent Developments
• 11.7. Majesco
  • 11.7.1. Overview
    • 11.7.1.1. Key Management
    • 11.7.1.2. Headquarters
    • 11.7.1.3. Offerings/Business Segments
  • 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.7.2.1. Employee Size
    • 11.7.2.2. Past and Current Revenue
    • 11.7.2.3. Geographical Share
    • 11.7.2.4. Business Segment Share
    • 11.7.2.5. Recent Developments
• 11.8. Oscar Insurance
  • 11.8.1. Overview
    • 11.8.1.1. Key Management
    • 11.8.1.2. Headquarters
    • 11.8.1.3. Offerings/Business Segments
  • 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.8.2.1. Employee Size
    • 11.8.2.2. Past and Current Revenue
    • 11.8.2.3. Geographical Share
    • 11.8.2.4. Business Segment Share
    • 11.8.2.5. Recent Developments
• 11.9. Quantemplate
  • 11.9.1. Overview
    • 11.9.1.1. Key Management
    • 11.9.1.2. Headquarters
    • 11.9.1.3. Offerings/Business Segments
  • 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.9.2.1. Employee Size
    • 11.9.2.2. Past and Current Revenue
    • 11.9.2.3. Geographical Share
    • 11.9.2.4. Business Segment Share
    • 11.9.2.5. Recent Developments
• 11.10. Shift Technology
  • 11.10.1. Overview
    • 11.10.1.1. Key Management
    • 11.10.1.2. Headquarters
    • 11.10.1.3. Offerings/Business Segments
  • 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.10.2.1. Employee Size
    • 11.10.2.2. Past and Current Revenue
    • 11.10.2.3. Geographical Share
    • 11.10.2.4. Business Segment Share
    • 11.10.2.5. Recent Developments

12. Key Takeaways