Insurance Agency Software Market Report 2025

This Insurance Agency Software Market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The insurance agency software market size has grown rapidly in recent years. It will grow from $3.82 billion in 2024 to $4.25 billion in 2025 at a compound annual growth rate (CAGR) of 11.1%. The growth during the historic period can be attributed to the digital transformation in the insurance sector, the increasing adoption of cloud technology, the shift towards microinsurance solutions, the rising demand for real-time data analytics, and the growing emphasis on hyper-personalization.

The insurance agency software market size is expected to see rapid growth in the next few years. It will grow to $6.43 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be driven by the increasing adoption of no-code and low-code platforms, the growing demand for customer self-service, the rise of API-driven platforms, modernization of legacy systems, and the transition to paperless operations. Key trends during this period include increased investments in Insurtech, advancements in predictive analytics, improved chatbot integration, the adoption of voice assistants, and the expansion of usage-based insurance.

The increasing frequency of cyberattacks is expected to drive the growth of the insurance agency software market. Cyberattacks involve malicious attempts to disrupt, damage, or gain unauthorized access to computer systems, networks, or data, often for financial, espionage, or destructive purposes. The rise in these attacks is fueled by growing digitalization, increased reliance on cloud services, the expansion of IoT devices, sophisticated hacking techniques, financial incentives for cybercriminals, and insufficient cybersecurity measures across organizations. Insurance agency software plays a crucial role in strengthening cybersecurity by incorporating advanced risk assessment, fraud detection, and compliance tools. These features help agencies safeguard sensitive customer data and mitigate the growing threat of cyberattacks. For instance, in July 2024, Check Point Software Technologies Ltd., an Israel-based software company, reported a 30% year-over-year increase in global cyberattacks, with organizations experiencing an average of 1,636 attacks per week. Additionally, ransomware incidents involving public extortion rose by 13%, totaling around 1,200 cases. As a result, the rising threat of cyberattacks is driving demand for insurance agency software solutions.

Companies in the insurance agency software market are focusing on innovative applications such as embedded commercial insurance quoting tools to streamline the quoting process, enhance real-time premium generation, and improve digital customer engagement. An embedded commercial insurance quoting application is a digital tool integrated into an existing platform that allows businesses to obtain instant insurance quotes for their commercial needs. In October 2023, Applied Systems, Inc., a US-based provider of insurance software solutions, introduced Tarmika Insured, an embedded commercial insurance quoting application. This solution enables real-time premium generation by integrating a simplified application question set and direct carrier market connectivity, allowing agencies to provide instant, bindable quotes at the point of sale. By facilitating both consumer-led and agent-led workflows, the application enhances customer experience, improves agent productivity, and accelerates digital transformation in commercial insurance.

In October 2022, ReSource Pro, a US-based insurance industry service provider, acquired MIS Insurance Services LLC for an undisclosed amount. This acquisition strengthens ReSource Pro’s policy administration and business process management capabilities, enabling insurers, managing general agents (MGAs), and program administrators to drive growth and innovation. MIS Insurance Services LLC, a US-based tech-enabled service provider, specializes in customized software solutions and services for the commercial property and casualty (P&C) insurance market.

Major players in the insurance agency software market are Guidewire Software, VERMEG Ltd Legal, Sapiens International, Vertafore Inc., Applied Systems Inc., Duck Creek Technologies, Zywave Inc., Dyad Tech, Bold Penguin, EZLynx, Insly LTD, HawkSoft, Insurance Technologies Corporation (ITC), Іnѕurаnсе Ѕуѕtеmѕ Іnс., InsuredHQ Limited, United Systems and Software Inc., AgencyBloc LLC, Axxis Systems, IVANS Insurance Solutions, NowCerts, Buckhill Ltd., Jenesis Software.

North America was the largest region in the insurance agency software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in insurance agency software report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the insurance agency software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Insurance agency software is a digital tool designed to assist insurance agencies in efficiently managing policies, clients, claims, and administrative tasks. It optimizes operations by automating processes such as quoting, policy tracking, billing, document management, and customer communication. This software enhances productivity, strengthens client relationships, and ensures adherence to industry regulations.

The various types of insurance agency software are life insurance, auto insurance, accident and health insurance, home insurance, property and casualty insurance, travel insurance, and more. Life insurance software specifically helps agencies handle policy issuance, premium calculations, customer records, claims processing, and regulatory compliance for life insurance policies. The software can be deployed either as a cloud-based or on-premise solution for applications such as claims management, commission management, contract management, document management, insurance rating, quote management, and policy management. It is utilized by businesses of all sizes, including small, medium, and large enterprises.

The insurance agency software market research report is one of a series of new reports that provides insurance agency software market statistics, including insurance agency software industry global market size, regional shares, competitors with a insurance agency software market share, detailed insurance agency software market segments, market trends and opportunities, and any further data you may need to thrive in the insurance agency software industry. This insurance agency software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The insurance agency software market consists of revenue entities earned by providing services such as risk assessment and underwriting support, customer relationship management (CRM) integration, multi-channel communication facilitation, fraud detection and prevention, premium billing and invoicing solutions, digital document storage and retrieval, real-time reporting, and business intelligence. The market value includes the value of related goods sold by the service provider or included within the service offering. The insurance agency software market also includes sales of products such as end-to-end agency management platforms, cloud-based policy administration systems, AI-powered underwriting tools, embedded insurance quoting solutions, mobile-responsive insurance applications, digital insurance marketplaces, telematics-based insurance solutions, and cybersecurity-enhanced insurance software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.