The global insurtech market grew from $1,864.0 million in 2016 to $8,065.7 million in 2021 at a compound annual growth rate (CAGR) of 34.0%. The market is expected to grow from $8,065.7 million in 2021 to $29,745.4 million in 2026 at a CAGR of 29.8%, and to $144,636.3 million in 2031 at a CAGR of 37.2%.
Growth in the historic period resulted from the strong economic growth in emerging markets, increased digitization of insurance services, increased use of robotic process automation in insurance companies and increased number of insurtech startups.
Going forward, the increase in insurance claims, increasing adoption of advanced technologies in the insurance industry and favorable government initiatives will drive the market growth. Factors that could hinder the growth of the insurtech market in the future include the increasing security threats from cyber-attacks and the Russia-Ukraine war.
The insurtech market is segmented by product into health insurance, life insurance, travel insurance, car insurance, business insurance, home insurance and other products. The health insurance market was the largest segment of the insurtech market segmented by product, accounting for 25.4% of the total in 2021. Going forward, the home insurance market is expected to be the fastest growing segment in the insurtech market segmented by product, at a CAGR of 32.1% during 2021-2026.
The insurtech market is also segmented by technology into blockchain, cloud computing, IoT (Internet of Things), artificial intelligence, big data and analytics and other technologies. The cloud computing market was the largest segment of the insurtech market segmented by technology, accounting for 43.5% of the total in 2021. Going forward, the cloud computing market is expected to be the fastest growing segment in the insurtech market segmented by technology, at a CAGR of 31.1% during 2021-2026.
The insurtech market is also segmented by offering into solutions and services. The solutions market was the largest segment of the insurtech market segmented by offering, accounting for 77.2% of the total in 2021. Going forward, the solutions market is expected to be the fastest growing segment in the insurtech market segmented by offering, at a CAGR of 30.5% during 2021-2026.
The insurtech market is also segmented by deployment into on-premise and cloud. The on-premise market was the largest segment of the insurtech market segmented by deployment, accounting for 75.4% of the total in 2021. Going forward, the cloud market is expected to be the fastest growing segment in the insurtech market segmented by deployment, at a CAGR of 31.4% during 2021-2026.
The insurtech market is also segmented by application into automotive industry, banking and financial services, government sector, healthcare industry, manufacturing industry, retail industry, transportation and other applications. The banking and financial services market was the largest segment of the insurtech market segmented by application, accounting for 22.8% of the total in 2021. Going forward, the healthcare industry market is expected to be the fastest growing segment in the insurtech market segmented by application, at a CAGR of 32.2% during 2021-2026.
North America was the largest region in the insurtech market, accounting for 31.7% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the insurtech market will be Asia Pacific and North America, where growth will be at CAGRs of 31.5% and 30.9% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 29.3% and 26.3% respectively.
The global insurtech market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 10.29% of the total market in 2021. DXC Technology was the largest competitor with 4.71% share of the market, followed by Damco Group with 1.85%, Majesco with 1.45%, Shift Technology with 0.58%, Earnix with 0.47%, Simplesurance with 0.35%, Outsystems with 0.31%, Cytora Ltd. with 0.25%, Planck Resolution LTD with 0.20% and Bdeo with 0.12%.
The top opportunities in the insurtech market by product will arise in the health insurance segment, which will gain $5,860.9 million of global annual sales by 2026. The top opportunities in the insurtech market by technology will arise in the cloud computing segment, which will gain $10,089.4 million of global annual sales by 2026. The top opportunities in the insurtech market by offering will arise in the solutions segment, which will gain $17,325.1 million of global annual sales by 2026. The top opportunities in the insurtech market by deployment will arise in the on-premise segment, which will gain $15,880.0 million of global annual sales by 2026. The top opportunities in the insurtech market by application will arise in the banking and financial services segment, which will gain $5,420.6 million of global annual sales by 2026. The insurtech market size will gain the most in the USA at $6,874.6 million.
Market-trend-based strategies for the insurtech market include focus on use of artificial intelligence (AI), focus on intelligent automation solutions, focus on product innovations, focus on adoption of blockchain technology, focus on partnerships and collaborations and focus on use of IoT (Internet of Things) technology.
Player-adopted strategies in the insurtech market include focus on providing advanced technology products through strategic collaborations and partnerships, focus on expanding business capabilities through strategic acquisitions and focus on providing innovative solutions through the launch of new products and services.
To take advantage of the opportunities, the publisher recommends the companies in the insurtech market to focus on artificial intelligence, focus on adoption of blockchain technology, focus on the use of IoT (Internet of Things) technology, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, target fast-growing applications and continue to target fast-growing end-users.
This report describes and explains the insurtech market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Growth in the historic period resulted from the strong economic growth in emerging markets, increased digitization of insurance services, increased use of robotic process automation in insurance companies and increased number of insurtech startups.
Going forward, the increase in insurance claims, increasing adoption of advanced technologies in the insurance industry and favorable government initiatives will drive the market growth. Factors that could hinder the growth of the insurtech market in the future include the increasing security threats from cyber-attacks and the Russia-Ukraine war.
The insurtech market is segmented by product into health insurance, life insurance, travel insurance, car insurance, business insurance, home insurance and other products. The health insurance market was the largest segment of the insurtech market segmented by product, accounting for 25.4% of the total in 2021. Going forward, the home insurance market is expected to be the fastest growing segment in the insurtech market segmented by product, at a CAGR of 32.1% during 2021-2026.
The insurtech market is also segmented by technology into blockchain, cloud computing, IoT (Internet of Things), artificial intelligence, big data and analytics and other technologies. The cloud computing market was the largest segment of the insurtech market segmented by technology, accounting for 43.5% of the total in 2021. Going forward, the cloud computing market is expected to be the fastest growing segment in the insurtech market segmented by technology, at a CAGR of 31.1% during 2021-2026.
The insurtech market is also segmented by offering into solutions and services. The solutions market was the largest segment of the insurtech market segmented by offering, accounting for 77.2% of the total in 2021. Going forward, the solutions market is expected to be the fastest growing segment in the insurtech market segmented by offering, at a CAGR of 30.5% during 2021-2026.
The insurtech market is also segmented by deployment into on-premise and cloud. The on-premise market was the largest segment of the insurtech market segmented by deployment, accounting for 75.4% of the total in 2021. Going forward, the cloud market is expected to be the fastest growing segment in the insurtech market segmented by deployment, at a CAGR of 31.4% during 2021-2026.
The insurtech market is also segmented by application into automotive industry, banking and financial services, government sector, healthcare industry, manufacturing industry, retail industry, transportation and other applications. The banking and financial services market was the largest segment of the insurtech market segmented by application, accounting for 22.8% of the total in 2021. Going forward, the healthcare industry market is expected to be the fastest growing segment in the insurtech market segmented by application, at a CAGR of 32.2% during 2021-2026.
North America was the largest region in the insurtech market, accounting for 31.7% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the insurtech market will be Asia Pacific and North America, where growth will be at CAGRs of 31.5% and 30.9% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 29.3% and 26.3% respectively.
The global insurtech market is highly fragmented, with a large number of small players. The top ten competitors in the market made up to 10.29% of the total market in 2021. DXC Technology was the largest competitor with 4.71% share of the market, followed by Damco Group with 1.85%, Majesco with 1.45%, Shift Technology with 0.58%, Earnix with 0.47%, Simplesurance with 0.35%, Outsystems with 0.31%, Cytora Ltd. with 0.25%, Planck Resolution LTD with 0.20% and Bdeo with 0.12%.
The top opportunities in the insurtech market by product will arise in the health insurance segment, which will gain $5,860.9 million of global annual sales by 2026. The top opportunities in the insurtech market by technology will arise in the cloud computing segment, which will gain $10,089.4 million of global annual sales by 2026. The top opportunities in the insurtech market by offering will arise in the solutions segment, which will gain $17,325.1 million of global annual sales by 2026. The top opportunities in the insurtech market by deployment will arise in the on-premise segment, which will gain $15,880.0 million of global annual sales by 2026. The top opportunities in the insurtech market by application will arise in the banking and financial services segment, which will gain $5,420.6 million of global annual sales by 2026. The insurtech market size will gain the most in the USA at $6,874.6 million.
Market-trend-based strategies for the insurtech market include focus on use of artificial intelligence (AI), focus on intelligent automation solutions, focus on product innovations, focus on adoption of blockchain technology, focus on partnerships and collaborations and focus on use of IoT (Internet of Things) technology.
Player-adopted strategies in the insurtech market include focus on providing advanced technology products through strategic collaborations and partnerships, focus on expanding business capabilities through strategic acquisitions and focus on providing innovative solutions through the launch of new products and services.
To take advantage of the opportunities, the publisher recommends the companies in the insurtech market to focus on artificial intelligence, focus on adoption of blockchain technology, focus on the use of IoT (Internet of Things) technology, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, target fast-growing applications and continue to target fast-growing end-users.
This report describes and explains the insurtech market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
Table of Contents
1. Executive Summary2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Insurtech Market Definition and Segmentations
6.4. Market Segmentation By Product
6.4.1. Health Insurance
6.4.2. Life Insurance
6.4.3. Travel Insurance
6.4.4. Car Insurance
6.4.5. Business Insurance
6.4.6. Home Insurance
6.4.7. Other Products
6.5. Market Segmentation By Technology
6.5.1. Blockchain
6.5.2. Cloud Computing
6.5.3. IoT (Internet of Things)
6.5.4. Artificial Intelligence
6.5.5. Big Data and Business Analytics
6.5.6. Other Technologies
6.6. Market Segmentation By Offering
6.6.1. Solutions
6.6.2. Services
6.7. Market Segmentation By Deployment
6.7.1. On-Premises
6.7.2. Cloud
6.8. Market Segmentation By Application
6.8.1. Automotive Industry
6.8.2. Banking And Financial Services
6.8.3. Government Sector
6.8.4. Healthcare Industry
6.8.5. Manufacturing Industry
6.8.6. Retail Industry
6.8.7. Transportation
6.8.8. Other Applications
7. Major Market Trends
7.1. Use Of Artificial Intelligence
7.2. Intelligent Automation Solutions
7.3. Product Innovations
7.4. Adoption Of Blockchain Technology
7.5. Partnerships And Collaborations
7.6. Use Of IoT Technology
8. Global Market Size and Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.2.1. Market Drivers 2016 - 2021
8.2.2. Market Restraints 2016 - 2021
8.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.3.1. Market Drivers 2021 - 2026
8.3.2. Market Restraints 2021 - 2026
9. Global Market Segmentation
9.1. Global Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Insurtech Market, Segmentation By Technology, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Insurtech Market, Segmentation By Offering, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.5. Global Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10. Global Market, Regional and Country Analysis
10.1. Global Insurtech Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Insurtech Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11. Asia-Pacific Market
11.1. Summary
11.2. Market Overview
11.2.1. Regional Information
11.2.2. Market Information
11.2.3. Background Information
11.2.4. Government Initiatives
11.2.5. Regulations
11.2.6. Regulatory Bodies
11.2.7. Major Associations
11.2.8. Taxes Levied
11.2.9. Corporate Tax Structure
11.2.10. Investments
11.2.11. Major Companies
11.3. Asia-Pacific Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.4. Asia-Pacific Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.5. Asia-Pacific Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.6. Asia-Pacific Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.7. Asia-Pacific Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.8. Asia-Pacific Insurtech Market: Country Analysis
11.9. China Market
11.10. Summary
11.11. Market Overview
11.11.1. Country Information
11.11.2. Market Information
11.11.3. Background Information
11.11.4. Government Initiatives
11.11.5. Regulations
11.11.6. Regulatory Bodies
11.11.7. Major Associations
11.11.8. Taxes Levied
11.11.9. Corporate Tax Structure
11.11.10. Investments
11.11.11. Major Companies
11.12. China Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.13. China Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.14. China Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.15. China Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.16. China Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.17. India Market
11.18. India Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.19. India Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.20. India Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.21. India Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.22. India Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.23. Japan Market
11.24. Japan Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.25. Japan Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.26. Japan Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.27. Japan Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.28. Japan Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.29. Australia Market
11.30. Australia Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.31. Australia Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.32. Australia Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.33. Australia Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.34. Australia Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.35. Indonesia Market
11.36. Indonesia Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.37. Indonesia Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.38. Indonesia Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.39. Indonesia Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.40. Indonesia Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.41. South Korea Market
11.42. South Korea Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
11.43. South Korea Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
11.44. South Korea Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.45. South Korea Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
11.46. South Korea Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12. Western Europe Market
12.1. Summary
12.2. Market Overview
12.2.1. Region Information
12.2.2. Market Information
12.2.3. Background Information
12.2.4. Government Initiatives
12.2.5. Regulations
12.2.6. Regulatory Bodies
12.2.7. Major Associations
12.2.8. Taxes Levied
12.2.9. Corporate Tax Structure
12.2.10. Investments
12.2.11. Major Companies
12.3. Western Europe Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
12.4. Western Europe Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
12.5. Western Europe Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.6. Western Europe Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.7. Western Europe Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.8. Western Europe Insurtech Market: Country Analysis
12.9. UK Market
12.10. UK Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
12.11. UK Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
12.12. UK Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.13. UK Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.14. UK Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.15. Germany Market
12.16. Germany Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
12.17. Germany Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
12.18. Germany Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.19. Germany Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.20. Germany Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.21. France Market
12.22. France Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
12.23. France Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
12.24. France Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.25. France Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
12.26. France Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13. Eastern Europe Market
13.1. Summary
13.2. Market Overview
13.2.1. Region Information
13.2.2. Market Information
13.2.3. Background Information
13.2.4. Government Initiatives
13.2.5. Regulations
13.2.6. Regulatory Bodies
13.2.7. Major Associations
13.2.8. Taxes Levied
13.2.9. Corporate Tax Structure
13.2.10. Investments
13.2.11. Major Companies
13.3. Eastern Europe Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
13.4. Eastern Europe Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
13.5. Eastern Europe Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13.6. Eastern Europe Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13.7. Eastern Europe Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13.8. Eastern Europe Insurtech Market: Country Analysis
13.9. Russia Market
13.10. Russia Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
13.11. Russia Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
13.12. Russia Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13.13. Russia Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
13.14. Russia Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14. North America Market
14.1. Summary
14.2. Market Overview
14.2.1. Region Information
14.2.2. Market Information
14.2.3. Background Information
14.2.4. Government Initiatives
14.2.5. Regulations
14.2.6. Regulatory Bodies
14.2.7. Major Associations
14.2.8. Taxes Levied
14.2.9. Corporate Tax Structure
14.2.10. Investments
14.2.11. Major Companies
14.3. North America Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
14.4. North America Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
14.5. North America Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14.6. North America Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14.7. North America Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14.8. North America Insurtech Market: Country Analysis
14.9. USA Market
14.10. Summary
14.11. Market Overview
14.11.1. Country Information
14.11.2. Market Information
14.11.3. Background Information
14.11.4. Government Initiatives
14.11.5. Regulations
14.11.6. Regulatory Bodies
14.11.7. Major Associations
14.11.8. Taxes levied
14.11.9. Corporate Tax Structure
14.11.10. Investments
14.11.11. Major Companies
14.12. USA Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
14.13. USA Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
14.14. USA Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14.15. USA Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
14.16. USA Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15. South America Market
15.1. Summary
15.2. Market Overview
15.2.1. Region Information
15.2.2. Market Information
15.2.3. Background Information
15.2.4. Government Initiatives
15.2.5. Regulations
15.2.6. Regulatory Bodies
15.2.7. Major Association
15.2.8. Taxes Levied
15.2.9. Corporate Tax Structure
15.2.10. Investments
15.2.11. Major Companies
15.3. South America Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
15.4. South America Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
15.5. South America Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15.6. South America Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15.7. South America Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15.8. South America Insurtech Market: Country Analysis
15.9. Brazil Market
15.10. Brazil Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
15.11. Brazil Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
15.12. Brazil Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15.13. Brazil Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
15.14. Brazil Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
16. Middle East Market
16.1. Summary
16.2. Market Overview
16.2.1. Region Information
16.2.2. Market Information
16.2.3. Background Information
16.2.4. Government Initiatives
16.2.5. Regulations
16.2.6. Regulatory Bodies
16.2.7. Major Associations
16.2.8. Taxes Levied
16.2.9. Corporate Tax Structure
16.2.10. Investments
16.2.11. Major Companies
16.3. Middle East Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
16.4. Middle East Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
16.5. Middle East Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
16.6. Middle East Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
16.7. Middle East Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
17. Africa Market
17.1. Summary
17.2. Market Overview
17.2.1. Region Information
17.2.2. Market Information
17.2.3. Background Information
17.2.4. Government Initiatives
17.2.5. Regulations
17.2.6. Regulatory Bodies
17.2.7. Major Associations
17.2.8. Taxes Levied
17.2.9. Corporate Tax Structure
17.2.10. Investments
17.2.11. Major Companies
17.3. Africa Insurtech Market, Historic Market Growth, 2016 - 2021, Value ($ Million)
17.4. Africa Insurtech Market, Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
17.5. Africa Insurtech Market, Segmentation By Product, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
17.6. Africa Insurtech Market, Segmentation By Deployment, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
17.7. Africa Insurtech Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
18. Competitive Landscape and Company Profiles
19. Company Profiles
19.1. DXC Technology
19.1.1. Company Overview
19.1.2. Products And Services
19.1.3. Business Strategy
19.1.4. Financial Overview
19.2. Damco Group
19.2.1. Company Overview
19.2.2. Products And Services
19.2.3. Business Strategy
19.2.4. Financial Overview
19.3. Majesco
19.3.1. Company Overview
19.3.2. Products And Services
19.3.3. Business Strategy
19.3.4. Financial Overview
19.4. Shift Technology
19.4.1. Company Overview
19.4.2. Products And Services
19.4.3. Business Strategy
19.4.4. Financial Overview
19.5. Earnix
19.5.1. Company Overview
19.5.2. Products And Services
19.5.3. Business Strategy
19.5.4. Financial Overview
20. Key Mergers And Acquisitions
20.1. Majesco Acquired SaaS-based InsurTech Global IQX
20.2. Allianz Acquired German Insurtech Simplesurance
20.3. Renew Buy Acquired Artivatic. AI
20.4. Tech Mahindra Acquired Com Tec Co IT Ltd
20.5. Turtlemint Acquired IOPhysics Systems
20.6. Cloud Klair Acquired Sehteq
20.7. MGA CorvusInsurTech Acquired Wingman Insurance
20.8. Direct Line Group Acquired Brolly
21. Global Insurtech Market Opportunities And Strategies
21.1. Global Insurtech Market In 2026 - Countries Offering Most New Opportunities
21.2. Global Insurtech Market In 2026 - Segments Offering Most New Opportunities
21.3. Global Insurtech Market In 2026 - Growth Strategies
21.3.1. Market Trend Based Strategies
21.3.2. Competitor Strategies
22. Insurtech Market, Conclusions And Recommendations
22.1. Conclusions
22.2. Recommendations
22.2.1. Product
22.2.2. Place
22.2.3. Price
22.2.4. Promotion
22.2.5. People
23. Appendix
23.1. Market Data Sources
23.2. Research Methodology
23.3. Currencies
23.4. About the Publisher
23.5. Copyright and Disclaimer
Executive Summary
Insurtech Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global insurtech market as it emerges from the COVID-19 shut down.Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider insurtech market; and compares it with other markets.
The report covers the following chapters:
Introduction and Market CharacteristicsBrief introduction to the segmentations covered in the market, definitions and explanations about the insurtech market.
Key Trends
Highlights the major trends shaping the global insurtech market. This section also highlights likely future developments in the market.
Global Market Size and Growth
Global historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis
Market Segmentation
Contains the market values (2016-2031) and analysis for for segment by product, by technology, by offering, by deployment and by application in the market.
Regional Market Size and Growth
Regional market size (2021), historic (2016-2021) and forecast (2021-2026), and (2026-2031) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
Market Opportunities And Strategies
Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
Conclusions And Recommendations
Includes recommendations for insurtech providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
Appendix
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered
1) By Product: Health Insurance; Life Insurance; Travel Insurance; Car Insurance; Business Insurance; Home Insurance; Other Products2) By Technology: Blockchain; Cloud Computing; IoT (Internet of Things); Artificial Intelligence; Big Data and Business Analytics; Other Technologies
3) By Offering: Solutions; Services
4) By Deployment: On-Premises; Cloud
5) By Application: Automotive Industry; Banking And Financial Services; Government Sector; Healthcare Industry; Manufacturing Industry; Retail Industry; Transportation; Other Applications
Companies Mentioned: DXC Technology; Damco Group; Majesco; Shift Technology; Earnix
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time-series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; insurtech indicators comparison.
Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- DXC Technology
- Damco Group
- Majesco
- Shift Technology
- Earnix
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 344 |
| Published | January 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 8065.7 Million |
| Forecasted Market Value ( USD | $ 144636.3 Million |
| Compound Annual Growth Rate | 33.5% |
| Regions Covered | Global |
