May 21, 2024
ICT

Insurtech Market Size to Grow US$ 172.6 Billion By 2030

The global insurtech market size was valued at US$ 9.8  billion in 2021 and is anticipated to grow US$ 172.6 billion by 2030, registering a CAGR of 37.54% from 2022 to 2030.

Insurtech Market Size 2022 To 2030

The insurtech market report covering various industry elements and growth trends helpful for predicting the market’s future.

The study provides a strong base for the insurtech market to be segmented into different segments. In fact, the study also covers the maximum market share during the assessment period by 2030.

This study is based on the partners that are highly competitive, key players as well as their market revenue in the forecast years of 2022 to 2030. There is also a strong focus on product revenues, sales, product categories and even the products that are experiencing the most traction. In this manner, the insurtech report also speaks about the effectiveness of this market along with its growth during the forecast period of 2030. Other major attributes of the insurtech market have been studied and analysed across many developments.

Market Scope

Report Coverage Details
Market Size in 2022 USD 13.48 Billion
Market Size by 2030 USD 172.6 Billion
Growth Rate from 2022 to 2030 CAGR of 37.54%
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Services, Deployment Model, Type, Technology, Application, End Use, and Geography

Research Approach

The comprehensive report on the global insurtech market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products. Following this, the report provides detailed explanation of objectives of this study and laid down by accredited agencies in the purview of research in the global insurtech market.

It is followed by market introduction, market dynamics, and an overview of the global market, which includes analysis of market drivers, restraints, and trends pertaining to the global market. Furthermore, Y-o-Y growth analysis with elaborated insights has been provided in order to understand the Y-o-Y growth trend of the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller sections. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Key Players

  • Damco Group
  • DXC Technology Company
  • Insurance Technology Services
  • Majesco
  • Oscar Insurance
  • Quantemplate
  • Shift Technology
  • Trōv, Inc.
  • Wipro Limited
  • ZhongAn Insurance

Market Segmentations

By Services

  • Consulting
  • Support & Maintenance
  • Managed Services

By Deployment Model

  • On-premise
  • Cloud

By Type

  • Auto
  • Business
  • Health
  • Home
  • Specialty
  • Travel
  • Others

By Technology

  • Blockchain
  • Cloud Computing
  • IoT
  • Machine Learning
  • Robo Advisory
  • Others

By Application

  • Product Development & Underwriting
  • Sales & Marketing
  • Policy Admin Collection & Disbursement
  • Claims Management

By End User

  • Automotive
  • BFSI
  • Government
  • Healthcare
  • Manufacturing
  • Retail
  • Transportation
  • Others

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Insurtech Market 

5.1. COVID-19 Landscape: Insurtech Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Insurtech Market, By Services

8.1. Insurtech Market, by Services, 2022-2030

8.1.1. Consulting

8.1.1.1. Market Revenue and Forecast (2017-2030)

8.1.2. Support & Maintenance

8.1.2.1. Market Revenue and Forecast (2017-2030)

8.1.3. Managed Services

8.1.3.1. Market Revenue and Forecast (2017-2030)

Chapter 9. Global Insurtech Market, By Deployment Model

9.1. Insurtech Market, by Deployment Model, 2022-2030

9.1.1. On-premise

9.1.1.1. Market Revenue and Forecast (2017-2030)

9.1.2. Cloud

9.1.2.1. Market Revenue and Forecast (2017-2030)

Chapter 10. Global Insurtech Market, By Type

10.1. Insurtech Market, by Type, 2022-2030

10.1.1. Auto

10.1.1.1. Market Revenue and Forecast (2017-2030)

10.1.2. Business

10.1.2.1. Market Revenue and Forecast (2017-2030)

10.1.3. Health

10.1.3.1. Market Revenue and Forecast (2017-2030)

10.1.4. Home

10.1.4.1. Market Revenue and Forecast (2017-2030)

10.1.5. Specialty

10.1.5.1. Market Revenue and Forecast (2017-2030)

10.1.6. Travel

10.1.6.1. Market Revenue and Forecast (2017-2030)

10.1.7. Others

10.1.7.1. Market Revenue and Forecast (2017-2030)

Chapter 11. Global Insurtech Market, By Technology

11.1. Insurtech Market, by Technology, 2022-2030

11.1.1. Blockchain

11.1.1.1. Market Revenue and Forecast (2017-2030)

11.1.2. Cloud Computing

11.1.2.1. Market Revenue and Forecast (2017-2030)

11.1.3. IoT

11.1.3.1. Market Revenue and Forecast (2017-2030)

11.1.4. Machine Learning

11.1.4.1. Market Revenue and Forecast (2017-2030)

11.1.5. Robo Advisory

11.1.5.1. Market Revenue and Forecast (2017-2030)

11.1.5. Others

11.1.5.1. Market Revenue and Forecast (2017-2030)

Chapter 12. Global Insurtech Market, By Application

12.1. Insurtech Market, by Application, 2022-2030

12.1.1. Product Development & Underwriting

12.1.1.1. Market Revenue and Forecast (2017-2030)

12.1.2. Sales & Marketing

12.1.2.1. Market Revenue and Forecast (2017-2030)

12.1.3. Policy Admin Collection & Disbursement

12.1.3.1. Market Revenue and Forecast (2017-2030)

12.1.4. Claims Management

12.1.4.1. Market Revenue and Forecast (2017-2030)

Chapter 13. Global Insurtech Market, By End User

13.1. Insurtech Market, by End User, 2022-2030

13.1.1. Automotive

13.1.1.1. Market Revenue and Forecast (2017-2030)

13.1.2. BFSI

13.1.2.1. Market Revenue and Forecast (2017-2030)

13.1.3. Government

13.1.3.1. Market Revenue and Forecast (2017-2030)

13.1.4. Healthcare

13.1.4.1. Market Revenue and Forecast (2017-2030)

13.1.5. Manufacturing

13.1.5.1. Market Revenue and Forecast (2017-2030)

13.1.6. Retail

13.1.6.1. Market Revenue and Forecast (2017-2030)

13.1.7. Transportation

13.1.7.1. Market Revenue and Forecast (2017-2030)

13.1.8. Others

13.1.8.1. Market Revenue and Forecast (2017-2030)

Chapter 14. Global Insurtech Market, Regional Estimates and Trend Forecast

14.1. North America

14.1.1. Market Revenue and Forecast, by Services (2017-2030)

14.1.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.1.3. Market Revenue and Forecast, by Type (2017-2030)

14.1.4. Market Revenue and Forecast, by Technology (2017-2030)

14.1.5. Market Revenue and Forecast, by Application (2017-2030)

14.1.6. Market Revenue and Forecast, by End User (2017-2030)

14.1.7. U.S.

14.1.7.1. Market Revenue and Forecast, by Services (2017-2030)

14.1.7.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.1.7.3. Market Revenue and Forecast, by Type (2017-2030)

14.1.7.4. Market Revenue and Forecast, by Technology (2017-2030)

14.1.8. Market Revenue and Forecast, by Application (2017-2030)

14.1.8.1. Market Revenue and Forecast, by End User (2017-2030)

14.1.9. Rest of North America

14.1.9.1. Market Revenue and Forecast, by Services (2017-2030)

14.1.9.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.1.9.3. Market Revenue and Forecast, by Type (2017-2030)

14.1.9.4. Market Revenue and Forecast, by Technology (2017-2030)

14.1.10. Market Revenue and Forecast, by Application (2017-2030)

14.1.11. Market Revenue and Forecast, by End User (2017-2030)

14.1.11.1.

14.2. Europe

14.2.1. Market Revenue and Forecast, by Services (2017-2030)

14.2.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.2.3. Market Revenue and Forecast, by Type (2017-2030)

14.2.4. Market Revenue and Forecast, by Technology (2017-2030)

14.2.5. Market Revenue and Forecast, by Application (2017-2030)

14.2.6. Market Revenue and Forecast, by End User (2017-2030)

14.2.7.

14.2.8. UK

14.2.8.1. Market Revenue and Forecast, by Services (2017-2030)

14.2.8.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.2.8.3. Market Revenue and Forecast, by Type (2017-2030)

14.2.9. Market Revenue and Forecast, by Technology (2017-2030)

14.2.10. Market Revenue and Forecast, by Application (2017-2030)

14.2.10.1. Market Revenue and Forecast, by End User (2017-2030)

14.2.11. Germany

14.2.11.1. Market Revenue and Forecast, by Services (2017-2030)

14.2.11.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.2.11.3. Market Revenue and Forecast, by Type (2017-2030)

14.2.12. Market Revenue and Forecast, by Technology (2017-2030)

14.2.13. Market Revenue and Forecast, by Application (2017-2030)

14.2.14. Market Revenue and Forecast, by End User (2017-2030)

14.2.14.1.

14.2.15. France

14.2.15.1. Market Revenue and Forecast, by Services (2017-2030)

14.2.15.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.2.15.3. Market Revenue and Forecast, by Type (2017-2030)

14.2.15.4. Market Revenue and Forecast, by Technology (2017-2030)

14.2.16. Market Revenue and Forecast, by Application (2017-2030)

14.2.16.1. Market Revenue and Forecast, by End User (2017-2030)

14.2.17. Rest of Europe

14.2.17.1. Market Revenue and Forecast, by Services (2017-2030)

14.2.17.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.2.17.3. Market Revenue and Forecast, by Type (2017-2030)

14.2.17.4. Market Revenue and Forecast, by Technology (2017-2030)

14.2.18. Market Revenue and Forecast, by Application (2017-2030)

14.2.18.1. Market Revenue and Forecast, by End User (2017-2030)

14.3. APAC

14.3.1. Market Revenue and Forecast, by Services (2017-2030)

14.3.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.3.3. Market Revenue and Forecast, by Type (2017-2030)

14.3.4. Market Revenue and Forecast, by Technology (2017-2030)

14.3.5. Market Revenue and Forecast, by Application (2017-2030)

14.3.6. Market Revenue and Forecast, by End User (2017-2030)

14.3.7. India

14.3.7.1. Market Revenue and Forecast, by Services (2017-2030)

14.3.7.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.3.7.3. Market Revenue and Forecast, by Type (2017-2030)

14.3.7.4. Market Revenue and Forecast, by Technology (2017-2030)

14.3.8. Market Revenue and Forecast, by Application (2017-2030)

14.3.9. Market Revenue and Forecast, by End User (2017-2030)

14.3.10. China

14.3.10.1. Market Revenue and Forecast, by Services (2017-2030)

14.3.10.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.3.10.3. Market Revenue and Forecast, by Type (2017-2030)

14.3.10.4. Market Revenue and Forecast, by Technology (2017-2030)

14.3.11. Market Revenue and Forecast, by Application (2017-2030)

14.3.11.1. Market Revenue and Forecast, by End User (2017-2030)

14.3.12. Japan

14.3.12.1. Market Revenue and Forecast, by Services (2017-2030)

14.3.12.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.3.12.3. Market Revenue and Forecast, by Type (2017-2030)

14.3.12.4. Market Revenue and Forecast, by Technology (2017-2030)

14.3.12.5. Market Revenue and Forecast, by Application (2017-2030)

14.3.12.6. Market Revenue and Forecast, by End User (2017-2030)

14.3.13. Rest of APAC

14.3.13.1. Market Revenue and Forecast, by Services (2017-2030)

14.3.13.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.3.13.3. Market Revenue and Forecast, by Type (2017-2030)

14.3.13.4. Market Revenue and Forecast, by Technology (2017-2030)

14.3.13.5. Market Revenue and Forecast, by Application (2017-2030)

14.3.13.6. Market Revenue and Forecast, by End User (2017-2030)

14.4. MEA

14.4.1. Market Revenue and Forecast, by Services (2017-2030)

14.4.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.4.3. Market Revenue and Forecast, by Type (2017-2030)

14.4.4. Market Revenue and Forecast, by Technology (2017-2030)

14.4.5. Market Revenue and Forecast, by Application (2017-2030)

14.4.6. Market Revenue and Forecast, by End User (2017-2030)

14.4.7. GCC

14.4.7.1. Market Revenue and Forecast, by Services (2017-2030)

14.4.7.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.4.7.3. Market Revenue and Forecast, by Type (2017-2030)

14.4.7.4. Market Revenue and Forecast, by Technology (2017-2030)

14.4.8. Market Revenue and Forecast, by Application (2017-2030)

14.4.9. Market Revenue and Forecast, by End User (2017-2030)

14.4.10. North Africa

14.4.10.1. Market Revenue and Forecast, by Services (2017-2030)

14.4.10.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.4.10.3. Market Revenue and Forecast, by Type (2017-2030)

14.4.10.4. Market Revenue and Forecast, by Technology (2017-2030)

14.4.11. Market Revenue and Forecast, by Application (2017-2030)

14.4.12. Market Revenue and Forecast, by End User (2017-2030)

14.4.13. South Africa

14.4.13.1. Market Revenue and Forecast, by Services (2017-2030)

14.4.13.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.4.13.3. Market Revenue and Forecast, by Type (2017-2030)

14.4.13.4. Market Revenue and Forecast, by Technology (2017-2030)

14.4.13.5. Market Revenue and Forecast, by Application (2017-2030)

14.4.13.6. Market Revenue and Forecast, by End User (2017-2030)

14.4.14. Rest of MEA

14.4.14.1. Market Revenue and Forecast, by Services (2017-2030)

14.4.14.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.4.14.3. Market Revenue and Forecast, by Type (2017-2030)

14.4.14.4. Market Revenue and Forecast, by Technology (2017-2030)

14.4.14.5. Market Revenue and Forecast, by Application (2017-2030)

14.4.14.6. Market Revenue and Forecast, by End User (2017-2030)

14.5. Latin America

14.5.1. Market Revenue and Forecast, by Services (2017-2030)

14.5.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.5.3. Market Revenue and Forecast, by Type (2017-2030)

14.5.4. Market Revenue and Forecast, by Technology (2017-2030)

14.5.5. Market Revenue and Forecast, by Application (2017-2030)

14.5.6. Market Revenue and Forecast, by End User (2017-2030)

14.5.7. Brazil

14.5.7.1. Market Revenue and Forecast, by Services (2017-2030)

14.5.7.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.5.7.3. Market Revenue and Forecast, by Type (2017-2030)

14.5.7.4. Market Revenue and Forecast, by Technology (2017-2030)

14.5.8. Market Revenue and Forecast, by Application (2017-2030)

14.5.8.1. Market Revenue and Forecast, by End User (2017-2030)

14.5.9. Rest of LATAM

14.5.9.1. Market Revenue and Forecast, by Services (2017-2030)

14.5.9.2. Market Revenue and Forecast, by Deployment Model (2017-2030)

14.5.9.3. Market Revenue and Forecast, by Type (2017-2030)

14.5.9.4. Market Revenue and Forecast, by Technology (2017-2030)

14.5.9.5. Market Revenue and Forecast, by Application (2017-2030)

14.5.9.6. Market Revenue and Forecast, by End User (2017-2030)

Chapter 15. Company Profiles

15.1. Damco Group

15.1.1. Company Overview

15.1.2. Product Offerings

15.1.3. Financial Performance

15.1.4. Recent Initiatives

15.2. DXC Technology Company

15.2.1. Company Overview

15.2.2. Product Offerings

15.2.3. Financial Performance

15.2.4. Recent Initiatives

15.3. Insurance Technology Services

15.3.1. Company Overview

15.3.2. Product Offerings

15.3.3. Financial Performance

15.3.4. Recent Initiatives

15.4. Majesco

15.4.1. Company Overview

15.4.2. Product Offerings

15.4.3. Financial Performance

15.4.4. Recent Initiatives

15.5. Oscar Insurance

15.5.1. Company Overview

15.5.2. Product Offerings

15.5.3. Financial Performance

15.5.4. Recent Initiatives

15.6. Quantemplate

15.6.1. Company Overview

15.6.2. Product Offerings

15.6.3. Financial Performance

15.6.4. Recent Initiatives

15.7. Shift Technology

15.7.1. Company Overview

15.7.2. Product Offerings

15.7.3. Financial Performance

15.7.4. Recent Initiatives

15.8. Trōv, Inc.

15.8.1. Company Overview

15.8.2. Product Offerings

15.8.3. Financial Performance

15.8.4. Recent Initiatives

15.9. Wipro Limited

15.9.1. Company Overview

15.9.2. Product Offerings

15.9.3. Financial Performance

15.9.4. Recent Initiatives

15.10. ZhongAn Insurance

15.10.1. Company Overview

15.10.2. Product Offerings

15.10.3. Financial Performance

15.10.4. Recent Initiatives

Chapter 16. Research Methodology

16.1. Primary Research

16.2. Secondary Research

16.3. Assumptions

Chapter 17. Appendix

17.1. About Us

17.2. Glossary of Terms

Why should you invest in this report?

If you are aiming to enter the global insurtech market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for insurtech are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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