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市場調查報告書
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1378968

2023-2028 年按類型、服務、技術和地區分類的保險科技市場報告

Insurtech Market Report by Type, Service, Technology, and Region 2023-2028
出版日期: | 出版商: IMARC | 英文 140 Pages | 商品交期: 2-3個工作天內

價格

概要

2022年全球保險科技市場規模達54億美元。展望未來， IMARC Group預計到2028年市場規模將達到410億美元，2022-2028年複合年成長率（CAGR）為40.2%。人們對個人化和高效保險解決方案需求的認知不斷增強、雲端運算的不斷採用、網路安全措施的不斷採用以及消費者行為向數位平台的轉變是推動市場發展的一些因素。

保險科技或保險科技是保險業內的一個子產業，利用科技顛覆和改進傳統保險模式。它利用人工智慧、資料分析和雲端運算等創新來提高效率、個人化產品並簡化客戶體驗。這些公司的工作機制涉及利用數位介面、自動化和複雜的演算法來提供更快的報價、更準確的風險評估和無縫的索賠流程。它專注於保險的各個方面，例如承保、索賠管理和客戶互動，創建滿足個人需求的客製化解決方案。

全球市場的主要驅動力是人們對個人化和高效保險解決方案需求的認知不斷增強。與此一致的是，行動和網路使用的大幅成長使人們更容易獲得保險產品，成為市場成長的重要推動因素。除此之外，專注於創新保險解決方案的新創公司數量不斷增加，導致服務和產品範圍更加廣泛。有利於保險業技術創新的監理政策的實施進一步推動了市場的發展。除此之外，由於消費者期望的不斷提高，簡化和自動化保險流程的需求不斷成長，正在市場上創造利潤豐厚的機會。促進市場發展的其他一些因素包括快速城市化和現代生活方式、向更透明和便捷的保險服務的文化轉變以及廣泛的研發（R&D）活動。

保險科技市場趨勢/促進因素：

越來越多採用雲端運算

雲端運算在保險科技中的使用正在改變保險服務的交付方式，提供更具可擴展性和靈活性的解決方案，以滿足消費者和保險公司的動態需求。借助雲端技術，保險科技公司可以提供一系列服務，而不受實體基礎設施的限制，從而降低成本並提高敏捷性。這種跨平台的無縫整合和協作使保險流程更加高效，從而實現即時資料分析、個人化保單建議和即時索賠處理。此外，雲端運算增強了保險價值鏈中不同利害關係人之間的協作，從而實現更具凝聚力和回應能力的服務。在消費者需要即時和個人化服務的時代，雲端運算的採用被證明是滿足這些期望和促進保險科技產業成長的重要因素。

越來越多採用網路安全措施

隨著保險業數位化的發展，對強大的網路安全措施的需求至關重要。保險科技公司正在實施最先進的安全協議，以確保用戶資料的隱私和保護。這不僅有助於保護敏感訊息，還可以增強人們對線上保險解決方案的信心。隨著網路威脅和資料外洩事件的增加，保險科技內部對網路安全的關注已成為產品開發和服務交付的重要面向。消費者、監管機構和保險公司都期望最高等級的安全性，這促使保險科技公司投資先進的加密、多因素身份驗證和持續監控。嚴格的網路安全措施的實施增強了對數位保險產品的信任，增強了市場的成長潛力。此外，這些安全措施體現了對道德商業實踐、增強消費者信任並符合全球監管合規標準的承諾。透過保護客戶資料並確保服務不間斷，保險科技的網路安全正在建立品質和誠信的基準，這對於產業的持續成功至關重要。

消費者行為轉向數位平台

全球數位化趨勢和線上交易的日益便利性正在顯著影響消費者尋求數位保險解決方案。線上訪問、比較和購買保險產品的能力已成為一種期望，而不是新鮮事。保險科技正在利用這一趨勢，提供方便用戶使用的平台，以滿足現代消費者對便利和即時的需求。保險科技平台提供個人化保單、24/7 客戶服務和數位索賠處理，符合數位化消費者不斷變化的偏好。採用人工智慧提供客製化建議以及使用聊天機器人提供即時幫助都是保險科技不僅回應而且塑造消費者行為的例子。這種與數位化趨勢的結合確保了保險科技作為現代保險格局的一個重要面向繼續蓬勃發展。

保險科技業細分：

IMARC Group提供了全球保險科技市場報告各細分市場主要趨勢的分析，以及 2023 年至 2028 年全球、區域和國家層面的預測。我們的報告根據類型、服務和技術對市場進行了分類。

按類型分類：

汽車

商業

健康

家

專業

旅行

其他

該報告根據類型提供了詳細的市場細分和分析。這包括汽車、商業、健康、家庭、專業、旅行等。

推動汽車產業發展的因素包括遠端資訊處理的採用增加、對以客戶為中心的服務的日益關注以及人工智慧的進步。連接性的增強和物聯網的整合使保險提供者能夠提供個人化保費，推動該領域的進一步成長。處理汽車保險索賠時對效率和自動化的需求也推動了該行業的發展。

另一方面，影響家居領域的因素包括智慧家庭技術、增強的資料分析以及向客製化政策的轉變。這些技術進步使保險公司能夠提供更準確的定價和風險評估，從而實現更以客戶為中心的方法。對便利性的渴望以及家庭保險線上平台數量的不斷增加正在推動該行業的成長。

對於業務部門而言，大資料分析的採用、人工智慧驅動的風險評估以及向客製化保險產品的轉變是關鍵驅動力。創新技術的整合使保險公司能夠更好地了解業務風險，並提供更量身定做的核保選項。對網路保險的需求增加和政策管理的靈活性也推動了該領域的成長。

在健康領域，對個人化醫療保健的日益關注、穿戴式技術的整合以及遠距醫療的實施是主要因素。保險科技能夠利用科技簡化流程，提供更容易取得且負擔得起的健康保險計劃。對高效健康保險管理的需求不斷成長，特別是在全球健康危機之後，正在推動這一領域的創新。

在專業領域，透過創新平台提供利基保險產品的能力是關鍵。增強的資料分析和有針對性的行銷使保險公司能夠透過客製化產品覆蓋特定的客戶群。這種滿足獨特需求和偏好的能力正在推動這一專業保險領域的成長。

此外，旅遊業正受到日益全球化、個人化產品和即時風險評估的影響。行動技術和社交媒體的整合使保險公司能夠提供即時幫助和更新，從而增強客戶體驗。客製化旅行計劃的成長趨勢以及旅行條件的不可預測性也推動了該領域的成長。

按服務分類：

諮詢

支援與維護

管理服務

該報告根據服務提供了詳細的市場細分和分析。這包括諮詢、支援和維護以及託管服務。

由於在整合保險科技解決方案、了解監管合規性和製定策略方法方面對專家建議的需求，諮詢領域正在不斷成長。保險科技顧問在彌合傳統保險實踐與新技術創新之間的差距方面發揮著至關重要的作用。他們在指導保險公司進行數位轉型方面的專業知識對於保險科技的採用至關重要。

另一方面，支援和維護部分是由更新和維護這些平台以確保最佳效能的持續需求所驅動的。定期支援可確保技術順利運行，而維護有助於修復任何錯誤或問題，從而增強整體使用者體驗。對支援和維護服務的持續需求對於此類解決方案的穩定性和成長至關重要。

IT 基礎設施日益複雜、成本最佳化的需求以及專業技能的需求推動了託管服務領域的發展。資料管理、網路安全和雲端運算等服務外包使保險公司能夠專注於核心功能，同時確保效率和合規性。即服務模式的趨勢和託管服務的可擴展性正在加速這一領域的成長。

按技術分類：

區塊鏈

雲端運算

物聯網

機器學習

機器人諮詢

其他

雲端運算佔據大部分市場佔有率

該報告基於該技術對市場進行了詳細的細分和分析。這包括區塊鏈、雲端運算、物聯網、機器學習、機器人諮詢等。報告稱，雲端運算佔據了最大的佔有率。

業界的雲端運算正在實現可擴展性、靈活性和成本效益。保險公司正在利用雲端平台來儲存大量資料、運行複雜的演算法並提供按需服務。向雲端原生架構的轉變以及對資料驅動洞察力不斷成長的需求正在推動這一領域的成長。

另一方面，區塊鏈、物聯網、機器學習和機器人諮詢正在透過實現透明度、自動化和增強決策來徹底改變市場。這些技術可實現安全資料共享、預測建模、個人化服務和自動化諮詢，進而改變保險產品的設計和交付方式。他們的協同整合正在促進各個保險領域的創新、協作和成長。

按地區分類：

北美洲

美國

加拿大

亞太

中國

日本

印度

韓國

澳洲

印尼

其他

歐洲

德國

法國

英國

義大利

西班牙

俄羅斯

其他

拉丁美洲

巴西

墨西哥

其他

中東和非洲

北美表現出明顯的主導地位，佔據最大的保險科技市場佔有率

該報告還對所有主要區域市場進行了全面分析，其中包括北美（美國和加拿大）；亞太地區（中國、日本、印度、韓國、澳洲、印尼等）；歐洲（德國、法國、英國、義大利、西班牙、俄羅斯等）；拉丁美洲（巴西、墨西哥等）；以及中東和非洲。報告稱，北美佔據最大的市場佔有率。

對於北美地區來說，強大的技術基礎設施、大型保險科技公司的存在以及有利的政府法規是推動成長的重要因素。創新文化和新技術的快速採用使北美成為市場的領導者。

此外，該地區對以客戶為中心的服務的關注，加上對個人化和高效保險解決方案的需求，正在推動市場向前發展。研發投資、與科技巨頭的合作以及強勁的金融業進一步推動了該地區的成長。

不同州保險需求的多樣性以及採用顛覆性技術的意願在北美創造了一個充滿活力且不斷發展的市場。最後，人工智慧、物聯網和區塊鏈等新興技術的融合，以及數位化趨勢的不斷成長，使北美成為全球市場的先鋒。

競爭格局：

主要參與者正在實施多方面的方法來確保市場成長，重點關注創新、協作、以客戶為中心和擴張等領域。他們大力投資研發，開發人工智慧、物聯網、機器學習和區塊鏈等尖端技術，並將其整合到自己的平台中，以提供個人化、高效和安全的服務。他們還與科技公司、傳統保險公司和新創公司進行策略合作，以促進創新並幫助進入新市場。主要參與者也透過進入新興市場、進軍利基保險細分市場、根據當地偏好和法規調整產品來探索新的成長途徑。他們還推出了強調永續性和社會責任的新產品，以符合全球趨勢並吸引有意識的消費者。

該報告對市場競爭格局進行了全面分析。也提供了所有主要公司的詳細資料。市場上的一些主要參與者包括：

三葉草健康有限公司

丹馬士集團

DXC科技公司

保險科技服務

Majesco（Aurum PropTech Limited）

奧斯卡保險公司

定量模板

換檔技術

旅行者公司

維普羅

眾安線上財產保險有限公司

最近的發展：

2022 年 10 月，Clover Health LLC 推出了 2023 年 Medicare Advantage (“MA”) 計劃，該計劃旨在增加全國範圍內符合 Medicare 資格的人獲得負擔得起的高品質醫療保健的機會。該公司還宣佈為其會員推出 LiveHealthy 獎勵計劃，旨在提高健康素養，並透過為完成指定的健康相關活動提供獎勵，鼓勵會員定期參與預防性初級保健服務。

2020 年 12 月，丹馬士集團宣布與人工智慧即服務 (AIaaS) 提供者omni:us 合作，以加速保險公司採用數據驅動的認知索賠管理。 Damco 將利用omni:us 支援保險公司將人工智慧快速部署到其索賠生命週期中，從而簡化保險公司和被保險方之間的互動。

2023 年 8 月，DXC 科技公司宣布了一項新的多年協議，為其部分 IT 基礎設施營運提供 AT&T 端到端支援。根據協議，DXC 將管理 AT&T 的中階 IT 基礎設施，涵蓋 AT&T 的企業運算、儲存、備份和復原環境。 DXC 還將提供系統、資料庫和儲存管理，以及跨這些環境的硬體架構和維護。

本報告回答的關鍵問題

  • 2023 年全球保險科技市場規模有多大
  • 2024-2029年全球保險科技市場的預期成長率是多少
  • 推動全球保險科技市場的關鍵因素是什麼
  • COVID-19 對全球保險科技市場有何影響
  • 基於技術的全球保險科技市場的細分是什麼
  • 全球保險科技市場的重點區域有哪些
  • 誰是全球保險科技市場的主要參與者/公司

本報告回答的關鍵問題

  • 2023 年全球保險科技市場規模有多大？
  • 2024-2029年全球保險科技市場的預期成長率是多少？
  • 推動全球保險科技市場的關鍵因素是什麼？
  • COVID-19 對全球保險科技市場有何影響？
  • 基於技術的全球保險科技市場的分化是什麼？
  • 全球保險科技市場的重點區域有哪些？
  • 全球保險科技市場的主要參與者/公司有哪些？

目錄

第 1 章：前言

第 2 章：範圍與方法

  • 研究目的
  • 利害關係人
  • 資料來源
    • 主要資源
    • 二手資料
  • 市場預測
    • 自下而上的方法
    • 自上而下的方法
  • 預測方法

第 3 章：執行摘要

第 4 章：簡介

  • 概述
  • 主要行業趨勢

第 5 章：全球保險科技市場

  • 市場概況
  • 市場業績
  • COVID-19 的影響
  • 市場預測

第 6 章：按類型分類的市場細分

  • 汽車
    • 市場走向
    • 市場預測
  • 商業
    • 市場走向
    • 市場預測
  • 健康
    • 市場走向
    • 市場預測
  • 家
    • 市場走向
    • 市場預測
  • 專業
    • 市場走向
    • 市場預測
  • 旅行
    • 市場走向
    • 市場預測
  • 其他
    • 市場走向
    • 市場預測

第 7 章：按服務分類的市場區隔

  • 諮詢
    • 市場走向
    • 市場預測
  • 支援與維護
    • 市場走向
    • 市場預測
  • 管理服務
    • 市場走向
    • 市場預測

第 8 章：依科技分類的市場

  • 區塊鏈
    • 市場走向
    • 市場預測
  • 雲端運算
    • 市場走向
    • 市場預測
  • 物聯網
    • 市場走向
    • 市場預測
  • 機器學習
    • 市場走向
    • 市場預測
  • 機器人諮詢
    • 市場走向
    • 市場預測
  • 其他
    • 市場走向
    • 市場預測

第 9 章：按地區分類的市場區隔

  • 北美洲
    • 美國
      • 市場走向
      • 市場預測
    • 加拿大
      • 市場走向
      • 市場預測
  • 亞太
    • 中國
      • 市場走向
      • 市場預測
    • 日本
      • 市場走向
      • 市場預測
    • 印度
      • 市場走向
      • 市場預測
    • 韓國
      • 市場走向
      • 市場預測
    • 澳洲
      • 市場走向
      • 市場預測
    • 印尼
      • 市場走向
      • 市場預測
    • 其他
      • 市場走向
      • 市場預測
  • 歐洲
    • 德國
      • 市場走向
      • 市場預測
    • 法國
      • 市場走向
      • 市場預測
    • 英國
      • 市場走向
      • 市場預測
    • 義大利
      • 市場走向
      • 市場預測
    • 西班牙
      • 市場走向
      • 市場預測
    • 俄羅斯
      • 市場走向
      • 市場預測
    • 其他
      • 市場走向
      • 市場預測
  • 拉丁美洲
    • 巴西
      • 市場走向
      • 市場預測
    • 墨西哥
      • 市場走向
      • 市場預測
    • 其他
      • 市場走向
      • 市場預測
  • 中東和非洲
    • 市場走向
    • 按國家/地區分類的市場細分
    • 市場預測

第 10 章：SWOT 分析

  • 概述
  • 優勢
  • 弱點
  • 機會
  • 威脅

第 11 章：價值鏈分析

第 12 章：波特五力分析

  • 概述
  • 買家的議價能力
  • 供應商的議價能力
  • 競爭程度
  • 新進入者的威脅
  • 替代品的威脅

第 13 章：價格分析

第14章：競爭格局

  • 市場結構
  • 關鍵參與者
  • 關鍵參與者簡介
    • Clover Health LLC
    • Damco Group
    • DXC Technology Company
    • Insurance Technology Services
    • Majesco (Aurum PropTech Limited)
    • Oscar Insurance Corporation
    • Quantemplate
    • Shift Technology
    • Travelers Companies, Inc.
    • Wipro
    • ZhongAn Online P&C Insurance Co. Ltd.
Product Code: SR112023A3636

Abstract

The global insurtech market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.0 Billion by 2028, exhibiting a growth rate (CAGR) of 40.2% during 2022-2028. The increasing awareness about the need for personalized and efficient insurance solutions, increasing adoption of cloud computing, rising adoption of cybersecurity measures and consumer behavior shift towards digital platforms represent some of the factors that are propelling the market.

An insurtech, or insurance technology, is a sub-sector within the insurance industry that leverages technology to disrupt and improve the traditional insurance model. It utilizes innovations including artificial intelligence, data analytics, and cloud computing to enhance efficiency, personalize offerings, and streamline customer experiences. The working mechanism of these companies involves utilizing digital interfaces, automation, and sophisticated algorithms to provide quicker quotes, more accurate risk assessments, and a seamless claim process. It focuses on various facets of insurance, such as underwriting, claims management, and customer interaction, creating tailored solutions that meet individual needs.

The global market is primarily driven by the increasing awareness about the need for personalized and efficient insurance solutions. In line with this, the considerable growth in mobile and internet usage, allowing for easier access to insurance products, is acting as a significant growth-inducing factor for the market. In addition to this, the expanding number of startups focusing on innovative insurance solutions is resulting in a broader range of services and products. The market is further driven by the implementation of regulatory policies that favor technological innovation in the insurance industry. Besides this, the growing demand for streamlined and automated insurance processes due to rising consumer expectations is creating lucrative opportunities in the market. Some of the other factors contributing to the market include rapid urbanization and modern lifestyles, the cultural shift towards more transparent and convenient insurance services, and extensive research and development (R&D) activities.

Insurtech Market Trends/Drivers:

Increasing adoption of cloud computing

The use of cloud computing in Insurtech is transforming the way insurance services are delivered, allowing for more scalable and flexible solutions that cater to the dynamic needs of both consumers and insurers. With cloud technology, Insurtech companies can offer an array of services without the limitations of physical infrastructure, leading to cost reduction and increased agility. This seamless integration and collaboration across platforms is making insurance processes more efficient, allowing for real-time data analysis, personalized policy recommendations, and instant claim processing. Moreover, cloud computing enhances collaboration between different stakeholders in the insurance value chain, enabling a more cohesive and responsive service. In an era where consumers demand immediate and personalized services, the adoption of cloud computing is proving to be a vital factor in meeting these expectations and fostering growth in the Insurtech sector.

Rising adoption of cybersecurity measures

As digitalization grows within the insurance industry, the demand for robust cybersecurity measures is paramount. Insurtech firms are implementing state-of-the-art security protocols to ensure the privacy and protection of user data. This not only helps in protecting sensitive information but also instills greater confidence in online insurance solutions. With increasing incidents of cyber threats and data breaches, the focus on cybersecurity within Insurtech has become an essential aspect of product development and service delivery. Consumers, regulatory bodies, and insurers alike expect the highest level of security, pushing Insurtech companies to invest in advanced encryption, multi-factor authentication, and continuous monitoring. The implementation of rigorous cybersecurity measures enhances trust in digital insurance offerings, reinforcing the market's growth potential. Additionally, these security measures demonstrate a commitment to ethical business practices, reinforcing consumer trust, and aligning with global regulatory compliance standards. By securing customer data and ensuring uninterrupted service, cybersecurity in Insurtech is setting a benchmark for quality and integrity, vital to the industry's continued success.

Consumer behavior shift towards digital platforms

The global trend towards digitalization and the increasing comfort with online transactions is significantly influencing consumers to seek digital insurance solutions. The ability to access, compare, and purchase insurance products online has become an expectation rather than a novelty. Insurtech is capitalizing on this trend, providing user-friendly platforms that cater to the modern consumer's demand for convenience and immediacy. Offering personalized policies, 24/7 customer service, and digital claim processing, Insurtech platforms are aligning with the evolving preferences of the digitally savvy consumer. The adoption of artificial intelligence to offer customized recommendations and the use of chatbots for instant assistance are examples of how Insurtech is not just responding to but shaping consumer behavior. This alignment with digital trends ensures that Insurtech continues to thrive as an essential facet of the modern insurance landscape.

Insurtech Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global insurtech market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on type, service and technology.

Breakup by Type:

Auto

Business

Health

Home

Specialty

Travel

Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes auto, business, health, home, specialty, travel, and others.

The factors driving the auto segment include increased adoption of telematics, growing focus on customer-centric services, and advancements in artificial intelligence. Increased connectivity and the integration of IoT have enabled insurance providers to offer personalized premiums, driving further growth in this segment. The need for efficiency and automation in handling auto insurance claims is also propelling this sector forward.

On the other hand, the factors influencing the home segment include smart home technology, enhanced data analytics, and a shift towards customized policies. These technological advancements allow insurers to offer more accurate pricing and risk assessment, resulting in a more customer-centric approach. The desire for convenience and the growing number of online platforms for home insurance are driving growth in this sector.

For the business segment, the adoption of big data analytics, AI-driven risk assessments, and the shift towards customized insurance products are key drivers. The integration of innovative technologies is allowing insurers to better understand business risks, providing more tailored coverage options. Increased demand for cyber insurance and flexibility in policy management are also fueling growth in this area.

In the health segment, the increased focus on personalized healthcare, integration of wearable technology, and the implementation of telemedicine are major factors. Insurtech enables the provision of more accessible and affordable health insurance plans, utilizing technology to streamline processes. The growing need for efficient health insurance administration, particularly in the wake of global health crises, is driving innovation in this segment.

In the specialty segment, the ability to offer niche insurance products through innovative platforms is key. Enhanced data analysis and targeted marketing are enabling insurers to reach specific customer segments with tailored offerings. This ability to cater to unique needs and preferences is driving growth in this specialized area of insurance.

Furthermore, the travel segment is being influenced by increased globalization, personalized offerings, and real-time risk assessments. The integration of mobile technology and social media allows insurers to provide immediate assistance and updates, enhancing the customer experience. The growing trend of customized travel plans and the unpredictability of travel conditions are also driving growth in this segment.

Breakup by Service:

Consulting

Support and Maintenance

Managed Services

The report has provided a detailed breakup and analysis of the market based on the service. This includes consulting, support and maintenance, and managed services.

The consulting segment is growing due to the demand for expert advice in integrating insurtech solutions, understanding regulatory compliance, and developing strategic approaches. Insurtech consultants play a crucial role in bridging the gap between traditional insurance practices and new technological innovations. Their expertise in guiding insurance companies through digital transformation is essential for the adoption of insurtech.

On the other hand, the support and maintenance segment is driven by the constant need for updating and maintaining these platforms to ensure optimal performance. Regular support ensures that the technology is running smoothly, while maintenance helps in fixing any bugs or issues, enhancing the overall user experience. This continuous demand for support and maintenance services is essential for the stability and growth of such solutions.

The managed services segment is driven by the increasing complexity of IT infrastructure, need for cost optimization, and the demand for specialized skill sets. Outsourcing of services like data management, cybersecurity, and cloud computing enables insurers to focus on core functions while ensuring efficiency and compliance. The trend towards as-a-service models and the scalability of managed services are accelerating growth in this segment.

Breakup by Technology:

Blockchain

Cloud Computing

IoT

Machine Learning

Robo Advisory

Others

Cloud computing accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the technology. This includes blockchain, cloud computing, IoT, machine learning, robo advisory, and others. According to the report, cloud computing represented the largest segment.

Cloud computing in the industry is enabling scalability, flexibility, and cost-effectiveness. Insurers are leveraging cloud platforms to store large volumes of data, run complex algorithms, and provide on-demand services. The shift towards cloud-native architectures and the growing need for data-driven insights are propelling the growth of this segment.

On the other hand, blockchain, IoT, machine learning, and robo advisory, are revolutionizing the market by enabling transparency, automation, and enhanced decision-making. These technologies allow for secure data sharing, predictive modeling, personalized services, and automated advisory, changing the way insurance products are designed and delivered. Their synergistic integration is fostering innovation, collaboration, and growth in various insurance domains.

Breakup by Region:

North America

United States

Canada

Asia-Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance, accounting for the largest insurtech market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

For the North America region, the strong technological infrastructure, presence of major insurtech companies, and favorable government regulations are significant factors driving growth. The culture of innovation and the rapid adoption of new technologies have made North America a leading player in the market.

Additionally, the region's focus on customer-centric services, combined with the demand for personalized and efficient insurance solutions, is propelling the market forward. Investments in research and development, collaborations with tech giants, and a robust financial sector further fuel growth in this region.

The diversity of insurance needs across different states and the willingness to embrace disruptive technologies create a dynamic and ever-evolving market in North America. Finally, the integration of emerging technologies such as AI, IoT, and blockchain, along with the growing trend of digitalization, is positioning North America as a pioneer in the global market.

Competitive Landscape:

The key players are implementing a multifaceted approach to ensure market growth, focusing on areas such as innovation, collaboration, customer-centricity, and expansion. They are heavily investing in R&D to develop cutting-edge technologies like AI, IoT, machine learning, and blockchain, integrating them into their platforms to offer personalized, efficient, and secure services. They are also entering into strategic collaboration with tech companies, traditional insurers, and startups, which is fostering innovation and enabling entry into new markets. Key players are also exploring new growth avenues by entering emerging markets and tapping into niche insurance segments, adapting products to local preferences and regulations. They are also launching new products with an emphasis on sustainability and social responsibility, aligning with global trends and attracting conscious consumers.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Clover Health LLC

Damco Group

DXC Technology Company

Insurance Technology Services

Majesco (Aurum PropTech Limited)

Oscar Insurance Corporation

Quantemplate

Shift Technology

Travelers Companies, Inc.

Wipro

ZhongAn Online P&C Insurance Co. Ltd.

Recent Developments:

In October 2022 Clover Health LLC debuted its 2023 Medicare Advantage ("MA") plans, which are built to increase access to affordable, high-quality healthcare for Medicare eligibles across the country. The company also announced the launch of the LiveHealthy Rewards Program for its members, which aims to promote health literacy and encourage members to routinely engage with preventive primary care services by providing rewards for the completion of specified health-related activities.

In December 2020, Damco Group announced the partnership with omni:us, an Artificial Intelligence as a Service (AIaaS) provider to fast-track insurers adoption of data-driven cognitive claims management. Damco would be leveraging omni:us to support insurers to quickly deploy AI into their claim's lifecycle streamlining the interactions between insurers and insured parties.

In August 2023, DXC Technology Company announced a new multi-year agreement to provide AT&T end-to-end support for a portion of its IT infrastructure operations. Under the agreement, DXC will manage AT&T's midrange IT infrastructure, which spans AT&T's enterprise compute, storage, backup and recovery environments. DXC will also provide system, database and storage administration, along with hardware architecture and maintenance across these environments.

Key Questions Answered in This Report

  • 1. What was the size of the global insurtech market in 2023?
  • 2. What is the expected growth rate of the global insurtech market during 2024-2029?
  • 3. What are the key factors driving the global insurtech market?
  • 4. What has been the impact of COVID-19 on the global insurtech market?
  • 5. What is the breakup of the global insurtech market based on the technology?
  • 6. What are the key regions in the global insurtech market?
  • 7. Who are the key players/companies in the global insurtech market?

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Insurtech Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Type

  • 6.1 Auto
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Business
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Health
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Home
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast
  • 6.5 Specialty
    • 6.5.1 Market Trends
    • 6.5.2 Market Forecast
  • 6.6 Travel
    • 6.6.1 Market Trends
    • 6.6.2 Market Forecast
  • 6.7 Others
    • 6.7.1 Market Trends
    • 6.7.2 Market Forecast

7 Market Breakup by Service

  • 7.1 Consulting
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Support and Maintenance
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast
  • 7.3 Managed Services
    • 7.3.1 Market Trends
    • 7.3.2 Market Forecast

8 Market Breakup by Technology

  • 8.1 Blockchain
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Cloud Computing
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast
  • 8.3 IoT
    • 8.3.1 Market Trends
    • 8.3.2 Market Forecast
  • 8.4 Machine Learning
    • 8.4.1 Market Trends
    • 8.4.2 Market Forecast
  • 8.5 Robo Advisory
    • 8.5.1 Market Trends
    • 8.5.2 Market Forecast
  • 8.6 Others
    • 8.6.1 Market Trends
    • 8.6.2 Market Forecast

9 Market Breakup by Region

  • 9.1 North America
    • 9.1.1 United States
      • 9.1.1.1 Market Trends
      • 9.1.1.2 Market Forecast
    • 9.1.2 Canada
      • 9.1.2.1 Market Trends
      • 9.1.2.2 Market Forecast
  • 9.2 Asia-Pacific
    • 9.2.1 China
      • 9.2.1.1 Market Trends
      • 9.2.1.2 Market Forecast
    • 9.2.2 Japan
      • 9.2.2.1 Market Trends
      • 9.2.2.2 Market Forecast
    • 9.2.3 India
      • 9.2.3.1 Market Trends
      • 9.2.3.2 Market Forecast
    • 9.2.4 South Korea
      • 9.2.4.1 Market Trends
      • 9.2.4.2 Market Forecast
    • 9.2.5 Australia
      • 9.2.5.1 Market Trends
      • 9.2.5.2 Market Forecast
    • 9.2.6 Indonesia
      • 9.2.6.1 Market Trends
      • 9.2.6.2 Market Forecast
    • 9.2.7 Others
      • 9.2.7.1 Market Trends
      • 9.2.7.2 Market Forecast
  • 9.3 Europe
    • 9.3.1 Germany
      • 9.3.1.1 Market Trends
      • 9.3.1.2 Market Forecast
    • 9.3.2 France
      • 9.3.2.1 Market Trends
      • 9.3.2.2 Market Forecast
    • 9.3.3 United Kingdom
      • 9.3.3.1 Market Trends
      • 9.3.3.2 Market Forecast
    • 9.3.4 Italy
      • 9.3.4.1 Market Trends
      • 9.3.4.2 Market Forecast
    • 9.3.5 Spain
      • 9.3.5.1 Market Trends
      • 9.3.5.2 Market Forecast
    • 9.3.6 Russia
      • 9.3.6.1 Market Trends
      • 9.3.6.2 Market Forecast
    • 9.3.7 Others
      • 9.3.7.1 Market Trends
      • 9.3.7.2 Market Forecast
  • 9.4 Latin America
    • 9.4.1 Brazil
      • 9.4.1.1 Market Trends
      • 9.4.1.2 Market Forecast
    • 9.4.2 Mexico
      • 9.4.2.1 Market Trends
      • 9.4.2.2 Market Forecast
    • 9.4.3 Others
      • 9.4.3.1 Market Trends
      • 9.4.3.2 Market Forecast
  • 9.5 Middle East and Africa
    • 9.5.1 Market Trends
    • 9.5.2 Market Breakup by Country
    • 9.5.3 Market Forecast

10 SWOT Analysis

  • 10.1 Overview
  • 10.2 Strengths
  • 10.3 Weaknesses
  • 10.4 Opportunities
  • 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

  • 12.1 Overview
  • 12.2 Bargaining Power of Buyers
  • 12.3 Bargaining Power of Suppliers
  • 12.4 Degree of Competition
  • 12.5 Threat of New Entrants
  • 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

  • 14.1 Market Structure
  • 14.2 Key Players
  • 14.3 Profiles of Key Players
    • 14.3.1 Clover Health LLC
      • 14.3.1.1 Company Overview
      • 14.3.1.2 Product Portfolio
    • 14.3.2 Damco Group
      • 14.3.2.1 Company Overview
      • 14.3.2.2 Product Portfolio
    • 14.3.3 DXC Technology Company
      • 14.3.3.1 Company Overview
      • 14.3.3.2 Product Portfolio
      • 14.3.3.3 Financials
      • 14.3.3.4 SWOT Analysis
    • 14.3.4 Insurance Technology Services
      • 14.3.4.1 Company Overview
      • 14.3.4.2 Product Portfolio
    • 14.3.5 Majesco (Aurum PropTech Limited)
      • 14.3.5.1 Company Overview
      • 14.3.5.2 Product Portfolio
    • 14.3.6 Oscar Insurance Corporation
      • 14.3.6.1 Company Overview
      • 14.3.6.2 Product Portfolio
    • 14.3.7 Quantemplate
      • 14.3.7.1 Company Overview
      • 14.3.7.2 Product Portfolio
    • 14.3.8 Shift Technology
      • 14.3.8.1 Company Overview
      • 14.3.8.2 Product Portfolio
    • 14.3.9 Travelers Companies, Inc.
      • 14.3.9.1 Company Overview
      • 14.3.9.2 Product Portfolio
    • 14.3.10 Wipro
      • 14.3.10.1 Company Overview
      • 14.3.10.2 Product Portfolio
      • 14.3.10.3 Financials
      • 14.3.10.4 SWOT Analysis
    • 14.3.11 ZhongAn Online P&C Insurance Co. Ltd.
      • 14.3.11.1 Company Overview
      • 14.3.11.2 Product Portfolio

List of Figures

  • Figure 1: Global: Insurtech Market: Major Drivers and Challenges
  • Figure 2: Global: Insurtech Market: Sales Value (in Billion US$), 2017-2022
  • Figure 3: Global: Insurtech Market Forecast: Sales Value (in Billion US$), 2023-2028
  • Figure 4: Global: Insurtech Market: Breakup by Type (in %), 2022
  • Figure 5: Global: Insurtech Market: Breakup by Service (in %), 2022
  • Figure 6: Global: Insurtech Market: Breakup by Technology (in %), 2022
  • Figure 7: Global: Insurtech Market: Breakup by Region (in %), 2022
  • Figure 8: Global: Insurtech (Auto) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 9: Global: Insurtech (Auto) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 10: Global: Insurtech (Business) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 11: Global: Insurtech (Business) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 12: Global: Insurtech (Health) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 13: Global: Insurtech (Health) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 14: Global: Insurtech (Home) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 15: Global: Insurtech (Home) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 16: Global: Insurtech (Specialty) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 17: Global: Insurtech (Specialty) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 18: Global: Insurtech (Travel) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 19: Global: Insurtech (Travel) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 20: Global: Insurtech (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 21: Global: Insurtech (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 22: Global: Insurtech (Consulting) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 23: Global: Insurtech (Consulting) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 24: Global: Insurtech (Support and Maintenance) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 25: Global: Insurtech (Support and Maintenance) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 26: Global: Insurtech (Managed Services) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 27: Global: Insurtech (Managed Services) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 28: Global: Insurtech (Blockchain) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 29: Global: Insurtech (Blockchain) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 30: Global: Insurtech (Cloud Computing) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 31: Global: Insurtech (Cloud Computing) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 32: Global: Insurtech (IoT) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 33: Global: Insurtech (IoT) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 34: Global: Insurtech (Machine Learning) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 35: Global: Insurtech (Machine Learning) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 36: Global: Insurtech (Robo Advisory) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 37: Global: Insurtech (Robo Advisory) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 38: Global: Insurtech (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 39: Global: Insurtech (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 40: North America: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 41: North America: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 42: United States: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 43: United States: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 44: Canada: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 45: Canada: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 46: Asia-Pacific: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 47: Asia-Pacific: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 48: China: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 49: China: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 50: Japan: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 51: Japan: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 52: India: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 53: India: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 54: South Korea: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 55: South Korea: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 56: Australia: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 57: Australia: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 58: Indonesia: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 59: Indonesia: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 60: Others: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 61: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 62: Europe: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 63: Europe: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 64: Germany: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 65: Germany: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 66: France: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 67: France: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 68: United Kingdom: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 69: United Kingdom: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 70: Italy: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 71: Italy: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 72: Spain: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 73: Spain: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 74: Russia: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 75: Russia: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 76: Others: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 77: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 78: Latin America: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 79: Latin America: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 80: Brazil: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 81: Brazil: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 82: Mexico: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 83: Mexico: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 84: Others: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 85: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 86: Middle East and Africa: Insurtech Market: Sales Value (in Million US$), 2017 & 2022
  • Figure 87: Middle East and Africa: Insurtech Market: Breakup by Country (in %), 2022
  • Figure 88: Middle East and Africa: Insurtech Market Forecast: Sales Value (in Million US$), 2023-2028
  • Figure 89: Global: Insurtech Industry: SWOT Analysis
  • Figure 90: Global: Insurtech Industry: Value Chain Analysis
  • Figure 91: Global: Insurtech Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Insurtech Market: Key Industry Highlights, 2022 and 2028
  • Table 2: Global: Insurtech Market Forecast: Breakup by Type (in Million US$), 2023-2028
  • Table 3: Global: Insurtech Market Forecast: Breakup by Service (in Million US$), 2023-2028
  • Table 4: Global: Insurtech Market Forecast: Breakup by Technology (in Million US$), 2023-2028
  • Table 5: Global: Insurtech Market Forecast: Breakup by Region (in Million US$), 2023-2028
  • Table 6: Global: Insurtech Market: Competitive Structure
  • Table 7: Global: Insurtech Market: Key Players