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市场调查报告书
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1378968

2023-2028 年按类型、服务、技术和地区分類的保险科技市场报告

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个工作天内

价格

抽象的

2022年全球保险科技市场规模达54亿美元。展望未来， IMARC Group预计到2028年市场规模将达到410亿美元，2022-2028年复合年增长率（CAGR）为40.2%。人们对个人化和高效保险解决方案需求的认识不断增强、云端运算的不断采用、网路安全措施的不断采用以及消费者行为向数位平台的转变是推动市场发展的一些因素。

保险科技或保险技术是保险业内的一个子产业，利用科技颠覆和改进传统保险模式。它利用人工智慧、资料分析和云端运算等创新来提高效率、个人化产品并简化客户体验。这些公司的工作机制涉及利用数位介面、自动化和复杂的演算法来提供更快的报价、更准确的风险评估和无缝的索赔流程。它专注于保险的各个方面，例如承保、索赔管理和客户互动，创建满足个人需求的客製化解决方案。

全球市场的主要驱动力是人们对个人化和高效保险解决方案需求的认识不断增强。与此一致的是，行动和网路使用的大幅成长使人们更容易获得保险产品，成为市场成长的重要推动因素。除此之外，专注于创新保险解决方案的新创公司数量不断增加，导致服务和产品范围更加广泛。有利于保险业技术创新的监理政策的实施进一步推动了市场的发展。除此之外，由于消费者期望的不断提高，简化和自动化保险流程的需求不断增长，正在市场上创造利润丰厚的机会。促进市场发展的其他一些因素包括快速城市化和现代生活方式、向更透明和便捷的保险服务的文化转变以及广泛的研发（R&D）活动。

保险科技市场趋势/驱动因素：

越来越多采用云端运算

云端运算在保险科技中的使用正在改变保险服务的交付方式，提供更具可扩展性和灵活性的解决方案，以满足消费者和保险公司的动态需求。借助云端技术，保险科技公司可以提供一系列服务，而不受实体基础设施的限制，从而降低成本并提高敏捷性。这种跨平台的无缝整合和协作使保险流程更加高效，从而实现即时资料分析、个人化保单建议和即时索赔处理。此外，云端运算增强了保险价值链中不同利害关係人之间的协作，从而实现更具凝聚力和回应能力的服务。在消费者需要即时和个人化服务的时代，云端运算的采用被证明是满足这些期望和促进保险科技产业成长的重要因素。

越来越多采用网路安全措施

随着保险业数位化的发展，对强大的网路安全措施的需求至关重要。保险科技公司正在实施最先进的安全协议，以确保用户资料的隐私和保护。这不仅有助于保护敏感讯息，还可以增强人们对线上保险解决方案的信心。随着网路威胁和资料外洩事件的增加，保险科技内部对网路安全的关注已成为产品开发和服务交付的重要面向。消费者、监管机构和保险公司都期望最高等级的安全性，这促使保险科技公司投资先进的加密、多因素身份验证和持续监控。严格的网路安全措施的实施增强了对数位保险产品的信任，增强了市场的成长潜力。此外，这些安全措施体现了对道德商业实践、增强消费者信任并符合全球监管合规标准的承诺。透过保护客户资料并确保服务不间断，保险科技的网路安全正在建立品质和诚信的基准，这对于产业的持续成功至关重要。

消费者行为转向数位平台

全球数位化趋势和线上交易的日益便利性正在显着影响消费者寻求数位保险解决方案。在线访问、比较和购买保险产品的能力已成为一种期望，而不是新鲜事。保险科技正在利用这一趋势，提供用户友好的平台，以满足现代消费者对便利和即时的需求。保险科技平台提供个人化保单、24/7 客户服务和数位索赔处理，符合数位化消费者不断变化的偏好。采用人工智慧提供客製化建议以及使用聊天机器人提供即时帮助都是保险科技不仅回应而且塑造消费者行为的例子。这种与数位化趋势的结合确保了保险科技作为现代保险格局的一个重要面向继续蓬勃发展。

保险科技业细分：

IMARC Group提供了全球保险科技市场报告各细分市场主要趋势的分析，以及 2023 年至 2028 年全球、区域和国家层面的预测。我们的报告根据类型、服务和技术对市场进行了分类。

按类型划分：

汽车

商业

健康

家

专业

旅行

其他的

该报告根据类型提供了详细的市场细分和分析。这包括汽车、商业、健康、家庭、专业、旅行等。

推动汽车产业发展的因素包括远端资讯处理的采用增加、对以客户为中心的服务的日益关注以及人工智慧的进步。连接性的增强和物联网的整合使保险提供者能够提供个人化保费，推动该领域的进一步成长。处理汽车保险索赔时对效率和自动化的需求也推动了该行业的发展。

另一方面，影响家居领域的因素包括智慧家庭技术、增强的资料分析以及向客製化政策的转变。这些技术进步使保险公司能够提供更准确的定价和风险评估，从而实现更以客户为中心的方法。对便利性的渴望以及家庭保险线上平台数量的不断增加正在推动该行业的成长。

对于业务部门而言，大资料分析的采用、人工智慧驱动的风险评估以及向客製化保险产品的转变是关键驱动力。创新技术的整合使保险公司能够更好地了解业务风险，并提供更量身定制的核保选项。对网路保险的需求增加和政策管理的灵活性也推动了该领域的成长。

在健康领域，对个人化医疗保健的日益关注、可穿戴技术的整合以及远距医疗的实施是主要因素。保险科技能够利用科技简化流程，提供更容易取得且负担得起的健康保险计划。对高效健康保险管理的需求不断增长，特别是在全球健康危机之后，正在推动这一领域的创新。

在专业领域，透过创新平台提供利基保险产品的能力是关键。增强的资料分析和有针对性的行销使保险公司能够透过客製化产品覆盖特定的客户群。这种满足独特需求和偏好的能力正在推动这一专业保险领域的成长。

此外，旅游业正受到日益全球化、个人化产品和即时风险评估的影响。行动技术和社交媒体的整合使保险公司能够提供即时帮助和更新，从而增强客户体验。客製化旅行计划的成长趋势以及旅行条件的不可预测性也推动了该领域的成长。

按服务划分：

咨询

支援与维护

管理服务

该报告根据服务提供了详细的市场细分和分析。这包括咨询、支援和维护以及託管服务。

由于在整合保险科技解决方案、了解监管合规性和製定策略方法方面对专家建议的需求，咨询领域正在不断增长。保险科技顾问在弥合传统保险实践与新技术创新之间的差距方面发挥着至关重要的作用。他们在指导保险公司进行数位转型方面的专业知识对于保险科技的采用至关重要。

另一方面，支援和维护部分是由更新和维护这些平台以确保最佳效能的持续需求所驱动的。定期支援可确保技术顺利运行，而维护有助于修復任何错误或问题，从而增强整体使用者体验。对支援和维护服务的持续需求对于此类解决方案的稳定性和成长至关重要。

IT 基础设施日益复杂、成本优化的需求以及专业技能的需求推动了託管服务领域的发展。资料管理、网路安全和云端运算等服务外包使保险公司能够专注于核心功能，同时确保效率和合规性。即服务模式的趋势和託管服务的可扩展性正在加速这一领域的成长。

按技术划分：

区块链

云端运算

物联网

机器学习

机器人咨询

其他的

云端运算占据大部分市场份额

该报告基于该技术对市场进行了详细的细分和分析。这包括区块链、云端运算、物联网、机器学习、机器人咨询等。报告称，云端运算占据了最大的份额。

业界的云端运算正在实现可扩展性、灵活性和成本效益。保险公司正在利用云端平台来储存大量资料、运行复杂的演算法并提供按需服务。向云端原生架构的转变以及对资料驱动洞察力不断增长的需求正在推动这一领域的成长。

另一方面，区块链、物联网、机器学习和机器人咨询正在透过实现透明度、自动化和增强决策来彻底改变市场。这些技术可实现安全资料共享、预测建模、个人化服务和自动化咨询，进而改变保险产品的设计和交付方式。他们的协同整合正在促进各个保险领域的创新、协作和成长。

按地区划分：

北美洲

美国

加拿大

亚太

中国

日本

印度

韩国

澳洲

印尼

其他的

欧洲

德国

法国

英国

义大利

西班牙

俄罗斯

其他的

拉丁美洲

巴西

墨西哥

其他的

中东和非洲

北美表现出明显的主导地位，占据最大的保险科技市场份额

该报告还对所有主要区域市场进行了全面分析，其中包括北美（美国和加拿大）；亚太地区（中国、日本、印度、韩国、澳洲、印尼等）；欧洲（德国、法国、英国、义大利、西班牙、俄罗斯等）；拉丁美洲（巴西、墨西哥等）；以及中东和非洲。报告称，北美占据最大的市场份额。

对于北美地区来说，强大的技术基础设施、大型保险科技公司的存在以及有利的政府法规是推动成长的重要因素。创新文化和新技术的快速采用使北美成为市场的领导者。

此外，该地区对以客户为中心的服务的关注，加上对个人化和高效保险解决方案的需求，正在推动市场向前发展。研发投资、与科技巨头的合作以及强劲的金融业进一步推动了该地区的成长。

不同州保险需求的多样性以及采用颠覆性技术的意愿在北美创造了一个充满活力且不断发展的市场。最后，人工智慧、物联网和区块链等新兴技术的融合，以及数位化趋势的不断增长，使北美成为全球市场的先锋。

竞争格局：

主要参与者正在实施多方面的方法来确保市场成长，重点关注创新、协作、以客户为中心和扩张等领域。他们大力投资研发，开发人工智慧、物联网、机器学习和区块链等尖端技术，并将其整合到自己的平台中，以提供个人化、高效和安全的服务。他们还与科技公司、传统保险公司和新创公司进行策略合作，以促进创新并帮助进入新市场。主要参与者也透过进入新兴市场、进军利基保险细分市场、根据当地偏好和法规调整产品来探索新的成长途径。他们还推出了强调永续性和社会责任的新产品，以符合全球趋势并吸引有意识的消费者。

该报告对市场竞争格局进行了全面分析。也提供了所有主要公司的详细资料。市场上的一些主要参与者包括：

三叶草健康有限公司

丹马士集团

DXC科技公司

保险科技服务

Majesco（Aurum PropTech Limited）

奥斯卡保险公司

定量模板

换檔技术

旅行者公司

维普罗

众安线上财产保险有限公司

最近的发展：

2022 年 10 月，Clover Health LLC 推出了 2023 年 Medicare Advantage (“MA”) 计划，该计划旨在增加全国范围内符合 Medicare 资格的人获得负担得起的高品质医疗保健的机会。该公司还宣布为其会员推出 LiveHealthy 奖励计划，旨在提高健康素养，并透过为完成指定的健康相关活动提供奖励，鼓励会员定期参与预防性初级保健服务。

2020 年 12 月，丹马士集团宣布与人工智慧即服务 (AIaaS) 提供者omni:us 合作，以加速保险公司采用数据驱动的认知索赔管理。 Damco 将利用omni:us 支援保险公司将人工智慧快速部署到其索赔生命週期中，从而简化保险公司和被保险方之间的互动。

2023 年 8 月，DXC 科技公司宣布了一项新的多年协议，为其部分 IT 基础设施营运提供 AT&T 端到端支援。根据协议，DXC 将管理 AT&T 的中阶 IT 基础设施，涵盖 AT&T 的企业运算、储存、备份和復原环境。 DXC 还将提供系统、资料库和储存管理，以及跨这些环境的硬体架构和维护。

本报告回答的关键问题

  • 2023 年全球保险科技市场规模有多大
  • 2024-2029年全球保险科技市场的预期成长率是多少
  • 推动全球保险科技市场的关键因素是什么
  • COVID-19 对全球保险科技市场有何影响
  • 基于技术的全球保险科技市场的细分是什么
  • 全球保险科技市场的重点区域有哪些
  • 谁是全球保险科技市场的主要参与者/公司

本报告回答的关键问题

  • 2023 年全球保险科技市场规模有多大？
  • 2024-2029年全球保险科技市场的预期成长率是多少？
  • 推动全球保险科技市场的关键因素是什么？
  • COVID-19 对全球保险科技市场有何影响？
  • 基于技术的全球保险科技市场的分化是什么？
  • 全球保险科技市场的重点区域有哪些？
  • 全球保险科技市场的主要参与者/公司有哪些？

目录

第一章：前言

第 2 章：范围与方法

  • 研究目的
  • 利害关係人
  • 资料来源
    • 主要资源
    • 二手资料
  • 市场预测
    • 自下而上的方法
    • 自上而下的方法
  • 预测方法

第 3 章：执行摘要

第 4 章：简介

  • 概述
  • 主要行业趋势

第 5 章：全球保险科技市场

  • 市场概况
  • 市场业绩
  • COVID-19 的影响
  • 市场预测

第 6 章：按类型分類的市场细分

  • 汽车
    • 市场走向
    • 市场预测
  • 商业
    • 市场走向
    • 市场预测
  • 健康
    • 市场走向
    • 市场预测
  • 家
    • 市场走向
    • 市场预测
  • 专业
    • 市场走向
    • 市场预测
  • 旅行
    • 市场走向
    • 市场预测
  • 其他的
    • 市场走向
    • 市场预测

第 7 章：按服务分類的市场区隔

  • 咨询
    • 市场走向
    • 市场预测
  • 支援与维护
    • 市场走向
    • 市场预测
  • 管理服务
    • 市场走向
    • 市场预测

第 8 章：依科技分類的市场

  • 区块链
    • 市场走向
    • 市场预测
  • 云端运算
    • 市场走向
    • 市场预测
  • 物联网
    • 市场走向
    • 市场预测
  • 机器学习
    • 市场走向
    • 市场预测
  • 机器人咨询
    • 市场走向
    • 市场预测
  • 其他的
    • 市场走向
    • 市场预测

第 9 章：按地区分類的市场区隔

  • 北美洲
    • 美国
      • 市场走向
      • 市场预测
    • 加拿大
      • 市场走向
      • 市场预测
  • 亚太
    • 中国
      • 市场走向
      • 市场预测
    • 日本
      • 市场走向
      • 市场预测
    • 印度
      • 市场走向
      • 市场预测
    • 韩国
      • 市场走向
      • 市场预测
    • 澳洲
      • 市场走向
      • 市场预测
    • 印尼
      • 市场走向
      • 市场预测
    • 其他的
      • 市场走向
      • 市场预测
  • 欧洲
    • 德国
      • 市场走向
      • 市场预测
    • 法国
      • 市场走向
      • 市场预测
    • 英国
      • 市场走向
      • 市场预测
    • 义大利
      • 市场走向
      • 市场预测
    • 西班牙
      • 市场走向
      • 市场预测
    • 俄罗斯
      • 市场走向
      • 市场预测
    • 其他的
      • 市场走向
      • 市场预测
  • 拉丁美洲
    • 巴西
      • 市场走向
      • 市场预测
    • 墨西哥
      • 市场走向
      • 市场预测
    • 其他的
      • 市场走向
      • 市场预测
  • 中东和非洲
    • 市场走向
    • 按国家/地区分類的市场细分
    • 市场预测

第 10 章：SWOT 分析

  • 概述
  • 优势
  • 弱点
  • 机会
  • 威胁

第 11 章：价值链分析

第 12 章：波特五力分析

  • 概述
  • 买家的议价能力
  • 供应商的议价能力
  • 竞争程度
  • 新进入者的威胁
  • 替代品的威胁

第 13 章：价格分析

第14章：竞争格局

  • 市场结构
  • 关键参与者
  • 关键参与者简介
    • 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