The decentralized insurance market size has grown exponentially in recent years. It will grow from $2.36 billion in 2024 to $3.51 billion in 2025 at a compound annual growth rate (CAGR) of 48.7%. The growth during the historic period can be attributed to the increasing interest in blockchain technology, a rise in cryptocurrency adoption, growing dissatisfaction with traditional insurance models, the emergence of decentralized finance (DeFi), and early investments in insurtech startups.
The decentralized insurance market size is expected to see exponential growth in the next few years. It will grow to $17.07 billion in 2029 at a compound annual growth rate (CAGR) of 48.5%. The growth in the forecast period can be attributed to the expansion of web3 ecosystems, rising demand for transparent insurance solutions, increasing cyber threats, and global regulatory developments that support decentralized finance (DeFi). Key trends in the forecast period include tokenized insurance products, smart contract-based claim settlements, peer-to-peer insurance models, interoperability across blockchain platforms, and decentralized autonomous organization (DAO)-governed insurance pools.
The growing adoption of cryptocurrencies is expected to drive the expansion of the decentralized insurance market. Cryptocurrencies are digital or virtual currencies that rely on cryptography for secure transactions and operate on decentralized networks, typically built on blockchain technology. The rise in cryptocurrency adoption is attributed to the financial freedom they offer, enabling users to transact without relying on traditional banks or government control. Decentralized insurance in the crypto space provides transparent, trustless protection against blockchain-related risks through smart contracts and community-funded pools. For example, in November 2024, the Financial Conduct Authority, a UK-based regulatory body, reported that 12% of UK adults own cryptocurrency, up from 10% previously, with awareness rising from 91% to 93%. The average value of crypto holdings also grew from $2,000 (£1,595) to $2,300 (£1,842). This surge in cryptocurrency adoption is fueling the growth of the decentralized insurance market.
Key players in the decentralized insurance market are focusing on developing innovative solutions, such as risk management infrastructure layers, to improve efficiency and transparency. These layers enable decentralized insurance by assessing, pricing, and mitigating risks using data analytics and smart contract automation. For example, in March 2023, Nexus Mutual, a UK-based decentralized insurance provider, launched Nexus Mutual v2 on the Ethereum mainnet. This upgrade introduced a modular system that allows users to create and manage their own mutuals for different risk types, including smart contract and custody risk. The new version supports permissionless product development, cross-chain functionality, and better capital efficiency, enabling broader participation in decentralized risk-sharing. Nexus Mutual v2 aims to drive the growth of blockchain-based insurance by fostering innovation and community-driven insurance models.
In August 2023, InShare, a UK-based provider of alternative risk transfer and mutual insurance solutions, teamed up with Nexus Mutual to utilize on-chain capital to cover excess losses for small independent retail businesses in the UK. This partnership allows Nexus Mutual to offer discretionary excess and aggregate risk transfer support to The Retail Mutual, which protects over 5,000 small retail businesses, including shopkeepers, from risks including fire, theft, and accidental damage. Nexus Mutual is a UK-based decentralized insurance provider, specializes in offering smart contract coverage to mitigate risks within decentralized finance (DeFi) platforms.
Major players in the decentralized insurance market are Mapfre S.A., Lemonade Inc., Solace, Aon Risk Services Limited, Chainlink, PrimaFelicitas Ltd, SoluLab, Etherisc GmbH, Webcom Systems, DeFiprime.com, Tidal Finance, Neptune Mutual, Unslashed Finance, Bridge Mutual, WeAlwin Technologies Pvt Ltd., Bitdeal, Developcoins, Bright Union, Nexus Mutual, and OpenCover.
North America was the largest region in the decentralized insurance market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in decentralized insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the decentralized insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Decentralized insurance refers to a blockchain-based insurance model that eliminates traditional intermediaries by using smart contracts to automate processes such as policy issuance, premium collection, and claims processing. It facilitates peer-to-peer risk sharing, offering enhanced transparency, efficiency, and trust by recording all transactions on a decentralized ledger. This model is particularly popular in decentralized finance (DeFi), where it helps protect against risks including smart contract failures, protocol hacks, and more.
The main types of decentralized insurance include property insurance, health insurance, business insurance, life insurance, and travel insurance. Property insurance offers financial protection for physical assets, such as homes, buildings, and personal belongings, against risks including fire, theft, or natural disasters. This form of insurance integrates technologies including blockchain, distributed ledger technology, artificial intelligence, smart contracts, and the internet of things. These technologies are applied through various models, such as peer-to-peer, centralized, open source, mutual, and consortium models, and are used for applications in insurance exchanges, risk assessment, claims processing, underwriting, and reinsurance.
The decentralized insurance market research report is one of a series of new reports that provides decentralized insurance market statistics, including the decentralized insurance industry's global market size, regional shares, competitors with a decentralized insurance market share, detailed decentralized insurance market segments, market trends and opportunities, and any further data you may need to thrive in the decentralized insurance industry. This decentralized insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The decentralized insurance market consists of revenues earned by entities providing services such as blockchain-based insurance solutions, smart contract-driven policy management, peer-to-peer risk sharing, and automated claims processing. The market value includes the value of related goods sold by the service provider or included within the service offering. The decentralized insurance market also includes sales of decentralized applications (dApps), blockchain infrastructure, tokenized coverage platforms, governance tools, and crypto wallet integrations essential for facilitating decentralized risk management and claim execution. 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.
The decentralized insurance market size is expected to see exponential growth in the next few years. It will grow to $17.07 billion in 2029 at a compound annual growth rate (CAGR) of 48.5%. The growth in the forecast period can be attributed to the expansion of web3 ecosystems, rising demand for transparent insurance solutions, increasing cyber threats, and global regulatory developments that support decentralized finance (DeFi). Key trends in the forecast period include tokenized insurance products, smart contract-based claim settlements, peer-to-peer insurance models, interoperability across blockchain platforms, and decentralized autonomous organization (DAO)-governed insurance pools.
The growing adoption of cryptocurrencies is expected to drive the expansion of the decentralized insurance market. Cryptocurrencies are digital or virtual currencies that rely on cryptography for secure transactions and operate on decentralized networks, typically built on blockchain technology. The rise in cryptocurrency adoption is attributed to the financial freedom they offer, enabling users to transact without relying on traditional banks or government control. Decentralized insurance in the crypto space provides transparent, trustless protection against blockchain-related risks through smart contracts and community-funded pools. For example, in November 2024, the Financial Conduct Authority, a UK-based regulatory body, reported that 12% of UK adults own cryptocurrency, up from 10% previously, with awareness rising from 91% to 93%. The average value of crypto holdings also grew from $2,000 (£1,595) to $2,300 (£1,842). This surge in cryptocurrency adoption is fueling the growth of the decentralized insurance market.
Key players in the decentralized insurance market are focusing on developing innovative solutions, such as risk management infrastructure layers, to improve efficiency and transparency. These layers enable decentralized insurance by assessing, pricing, and mitigating risks using data analytics and smart contract automation. For example, in March 2023, Nexus Mutual, a UK-based decentralized insurance provider, launched Nexus Mutual v2 on the Ethereum mainnet. This upgrade introduced a modular system that allows users to create and manage their own mutuals for different risk types, including smart contract and custody risk. The new version supports permissionless product development, cross-chain functionality, and better capital efficiency, enabling broader participation in decentralized risk-sharing. Nexus Mutual v2 aims to drive the growth of blockchain-based insurance by fostering innovation and community-driven insurance models.
In August 2023, InShare, a UK-based provider of alternative risk transfer and mutual insurance solutions, teamed up with Nexus Mutual to utilize on-chain capital to cover excess losses for small independent retail businesses in the UK. This partnership allows Nexus Mutual to offer discretionary excess and aggregate risk transfer support to The Retail Mutual, which protects over 5,000 small retail businesses, including shopkeepers, from risks including fire, theft, and accidental damage. Nexus Mutual is a UK-based decentralized insurance provider, specializes in offering smart contract coverage to mitigate risks within decentralized finance (DeFi) platforms.
Major players in the decentralized insurance market are Mapfre S.A., Lemonade Inc., Solace, Aon Risk Services Limited, Chainlink, PrimaFelicitas Ltd, SoluLab, Etherisc GmbH, Webcom Systems, DeFiprime.com, Tidal Finance, Neptune Mutual, Unslashed Finance, Bridge Mutual, WeAlwin Technologies Pvt Ltd., Bitdeal, Developcoins, Bright Union, Nexus Mutual, and OpenCover.
North America was the largest region in the decentralized insurance market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in decentralized insurance report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the decentralized insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Decentralized insurance refers to a blockchain-based insurance model that eliminates traditional intermediaries by using smart contracts to automate processes such as policy issuance, premium collection, and claims processing. It facilitates peer-to-peer risk sharing, offering enhanced transparency, efficiency, and trust by recording all transactions on a decentralized ledger. This model is particularly popular in decentralized finance (DeFi), where it helps protect against risks including smart contract failures, protocol hacks, and more.
The main types of decentralized insurance include property insurance, health insurance, business insurance, life insurance, and travel insurance. Property insurance offers financial protection for physical assets, such as homes, buildings, and personal belongings, against risks including fire, theft, or natural disasters. This form of insurance integrates technologies including blockchain, distributed ledger technology, artificial intelligence, smart contracts, and the internet of things. These technologies are applied through various models, such as peer-to-peer, centralized, open source, mutual, and consortium models, and are used for applications in insurance exchanges, risk assessment, claims processing, underwriting, and reinsurance.
The decentralized insurance market research report is one of a series of new reports that provides decentralized insurance market statistics, including the decentralized insurance industry's global market size, regional shares, competitors with a decentralized insurance market share, detailed decentralized insurance market segments, market trends and opportunities, and any further data you may need to thrive in the decentralized insurance industry. This decentralized insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The decentralized insurance market consists of revenues earned by entities providing services such as blockchain-based insurance solutions, smart contract-driven policy management, peer-to-peer risk sharing, and automated claims processing. The market value includes the value of related goods sold by the service provider or included within the service offering. The decentralized insurance market also includes sales of decentralized applications (dApps), blockchain infrastructure, tokenized coverage platforms, governance tools, and crypto wallet integrations essential for facilitating decentralized risk management and claim execution. 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.
Table of Contents
1. Executive Summary2. Decentralized Insurance Market Characteristics3. Decentralized Insurance Market Trends And Strategies4. Decentralized Insurance Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market32. Global Decentralized Insurance Market Competitive Benchmarking And Dashboard33. Key Mergers And Acquisitions In The Decentralized Insurance Market34. Recent Developments In The Decentralized Insurance Market
5. Global Decentralized Insurance Growth Analysis And Strategic Analysis Framework
6. Decentralized Insurance Market Segmentation
7. Decentralized Insurance Market Regional And Country Analysis
8. Asia-Pacific Decentralized Insurance Market
9. China Decentralized Insurance Market
10. India Decentralized Insurance Market
11. Japan Decentralized Insurance Market
12. Australia Decentralized Insurance Market
13. Indonesia Decentralized Insurance Market
14. South Korea Decentralized Insurance Market
15. Western Europe Decentralized Insurance Market
16. UK Decentralized Insurance Market
17. Germany Decentralized Insurance Market
18. France Decentralized Insurance Market
19. Italy Decentralized Insurance Market
20. Spain Decentralized Insurance Market
21. Eastern Europe Decentralized Insurance Market
22. Russia Decentralized Insurance Market
23. North America Decentralized Insurance Market
24. USA Decentralized Insurance Market
25. Canada Decentralized Insurance Market
26. South America Decentralized Insurance Market
27. Brazil Decentralized Insurance Market
28. Middle East Decentralized Insurance Market
29. Africa Decentralized Insurance Market
30. Decentralized Insurance Market Competitive Landscape And Company Profiles
31. Decentralized Insurance Market Other Major And Innovative Companies
35. Decentralized Insurance Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Decentralized Insurance Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on decentralized insurance market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for decentralized insurance ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The decentralized insurance market global report answers all these questions and many more.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 historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Property Insurance; Health Insurance; Business Insurance; Life Insurance; Travel Insurance2) By Technology: Blockchain; Distributed Ledger Technology; Artificial Intelligence; Smart Contracts; Internet Of Things
3) By Model: Peer-To-Peer; Centralized; Open Source; Mutual; Consortium
4) By Application: Insurance Exchange; Risk Assessment; Claims Processing; Underwriting; Reinsurance
Subsegments:
1) By Property Insurance: Homeowners Insurance; Renters Insurance; Fire And Theft Insurance; Natural Disaster Insurance2) By Health Insurance: Individual Health Insurance; Group Health Insurance; Critical Illness Insurance; Maternity Insurance
3) By Business Insurance: General Liability Insurance; Commercial Property Insurance; Business Interruption Insurance; Cyber Liability Insurance
4) By Life Insurance: Term Life Insurance; Whole Life Insurance; Universal Life Insurance; Variable Life Insurance
5) By Travel Insurance: Trip Cancellation Insurance; Medical Travel Insurance; Baggage And Personal Effects Insurance; Flight Delay And Missed Connection Insurance
Key Companies Profiled: Mapfre S.A; Lemonade Inc.; Solace; Aon Risk Services Limited; Chainlink
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
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.
Data Segmentation: 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.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Mapfre S.A
- Lemonade Inc.
- Solace
- Aon Risk Services Limited
- Chainlink
- PrimaFelicitas Ltd
- SoluLab
- Etherisc GmbH
- Webcom Systems
- DeFiprime.com
- Tidal Finance
- Neptune Mutual
- Unslashed Finance
- Bridge Mutual
- WeAlwin Technologies Pvt Ltd.
- Bitdeal
- Developcoins
- Bright Union
- Nexus Mutual
- OpenCover.