インシュアテック市場レポート：タイプ、サービス、技術、地域別、2023-2028年

概要

世界のインシュアテック市場規模は2022年に54億米ドルに達しました。IMARCグループは、2022年から2028年にかけて40.2%の成長率（CAGR）を示し、2028年には410億米ドルに達すると予測しています。パーソナライズされた効率的な保険ソリューションの必要性に対する意識の高まり、クラウド・コンピューティングの採用増加、サイバーセキュリティ対策の採用増加、デジタル・プラットフォームへの消費者行動のシフトなどが、市場を推進している要因のいくつかです。

インシュアテック（保険技術）は、従来の保険モデルを破壊し改善するためにテクノロジーを活用する保険業界のサブセクターです。人工知能、データ分析、クラウド・コンピューティングなどのイノベーションを活用し、効率性を高め、サービスをパーソナライズし、顧客体験を合理化します。これらの企業の仕組みには、デジタル・インターフェース、自動化、高度なアルゴリズムを活用し、より迅速な見積もり、より正確なリスク評価、シームレスな保険金請求プロセスを提供することが含まれます。引受、クレーム管理、顧客との対話など、保険のさまざまな側面に焦点を当て、個々のニーズに合ったオーダーメイドのソリューションを生み出しています。

世界市場の主な原動力は、個別化された効率的な保険ソリューションの必要性に対する意識の高まりです。これに伴い、保険商品へのアクセスを容易にするモバイルやインターネットの利用が大幅に伸びていることも、市場の重要な成長要因となっています。これに加えて、革新的な保険ソリューションに注力する新興企業の拡大により、サービスや商品の幅が広がっています。さらに、保険業界の技術革新に有利な規制政策の実施も市場を牽引しています。これに加えて、消費者の期待の高まりから保険プロセスの合理化・自動化に対する需要が高まっていることも、市場に有利な機会を生み出しています。その他の市場開拓要因としては、急速な都市化と近代的ライフスタイル、より透明で便利な保険サービスへの文化的シフト、広範な研究開発活動などが挙げられます。

インシュアテック市場の動向と促進要因：

クラウド・コンピューティングの採用拡大

Insurtechにおけるクラウド・コンピューティングの利用は、保険サービスの提供方法を変革し、消費者と保険会社双方のダイナミックなニーズに応える、よりスケーラブルで柔軟なソリューションを可能にしています。クラウド・テクノロジーを利用することで、インシュアテック企業は物理的なインフラの制約を受けることなくさまざまなサービスを提供できるようになり、コスト削減と俊敏性の向上につながります。このようなプラットフォーム間のシームレスな統合とコラボレーションは、保険プロセスをより効率的にし、リアルタイムのデータ分析、パーソナライズされた保険契約の提案、即時の保険金請求処理を可能にしています。さらに、クラウド・コンピューティングは保険のバリューチェーンにおけるさまざまな利害関係者間のコラボレーションを強化し、よりまとまりのある、迅速なサービスを可能にします。消費者が即時的でパーソナライズされたサービスを求める時代において、クラウド・コンピューティングの導入は、こうした期待に応え、インシュアテック・セクターの成長を促進する上で不可欠な要素であることが証明されつつあります。

サイバーセキュリティ対策の採用増加

保険業界でデジタル化が進むにつれ、強固なサイバーセキュリティ対策への需要が最も高まっています。インシュアテック企業は最先端のセキュリティ・プロトコルを導入し、ユーザー・データのプライバシーと保護を確保しています。これは、機密情報の保護に役立つだけでなく、オンライン保険ソリューションに対する信頼性を高めることにもなります。サイバー脅威やデータ漏洩の事件が増加する中、インシュアテック企業におけるサイバーセキュリティへの注力は、商品開発やサービス提供において不可欠な側面となっています。消費者、規制機関、保険会社はいずれも最高レベルのセキュリティを期待しており、Insurtech企業は高度な暗号化、多要素認証、継続的な監視への投資を推進しています。厳格なサイバーセキュリティ対策の実施は、デジタル保険商品への信頼を高め、市場の成長可能性を強化します。さらに、こうしたセキュリティ対策は、倫理的なビジネス慣行へのコミットメントを示し、消費者の信頼を強化し、世界な規制コンプライアンス基準に合致します。顧客データを保護し、中断のないサービスを保証することで、インシュアテックのサイバーセキュリティは、業界の継続的な成功に不可欠な、品質と完全性の基準を設定しています。

デジタル・プラットフォームへの消費者行動のシフト

世界のデジタル化の動向とオンライン取引の快適性の高まりは、消費者がデジタル保険ソリューションを求めることに大きな影響を与えています。オンラインで保険商品にアクセスし、比較し、購入する能力は、目新しいものではなく、むしろ期待されるものとなっています。インシュアテックはこの動向を利用し、利便性と即時性を求める現代消費者の要望に応えるユーザーフレンドリーなプラットフォームを提供しています。パーソナライズされた保険契約、年中無休のカスタマーサービス、デジタル請求処理などを提供するインシュアテック・プラットフォームは、デジタルに精通した消費者の進化する嗜好に合致しつつあります。カスタマイズされた推奨を提供するための人工知能の採用や、即時支援のためのチャットボットの使用は、Insurtechが単に対応するだけでなく、消費者の行動を形成している例です。このようなデジタル動向との連携により、インシュアテックは現代の保険業界にとって不可欠な存在として成長を続けています。

本レポートで扱う主な質問

• 2023年の世界のインシュアテック市場規模は？
• 2024年から2029年にかけての世界のインシュアテック市場の予想成長率は？
• 世界のインシュアテック市場を牽引する主な要因は何か
• 世界のインシュアテック市場へのCOVID-19の影響は？
• 世界のインシュアテック市場の技術別区分は？
• インシュアテックの世界市場における主要地域は？
• 世界のインシュアテック市場における主要プレイヤー／企業は？

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査目的
• 利害関係者
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主な業界動向

第5章 世界のインシュアテック市場

• 市場概要
• 市場実績
• COVID-19の影響
• 市場予測

第6章 市場内訳：タイプ別

• 自動車
  • 市場動向
  • 市場予測
• ビジネス
  • 市場動向
  • 市場予測
• 健康
  • 市場動向
  • 市場予測
• ホーム
  • 市場動向
  • 市場予測
• 専門分野
  • 市場動向
  • 市場予測
• 旅行
  • 市場動向
  • 市場予測
• その他
  • 市場動向
  • 市場予測

第7章 市場内訳：サービス別

• コンサルティング
  • 市場動向
  • 市場予測
• サポート＆メンテナンス
  • 市場動向
  • 市場予測
• マネージドサービス
  • 市場動向
  • 市場予測

第8章 市場内訳：技術別

• ブロックチェーン
  • 市場動向
  • 市場予測
• クラウドコンピューティング
  • 市場動向
  • 市場予測
• IoT市場
  • 市場動向
  • 市場予測
• 機械学習
  • 市場動向
  • 市場予測
• ロボアドバイザリー
  • 市場動向
  • 市場予測
• その他
  • 市場動向
  • 市場予測

第9章 市場内訳：地域別

• 北米
  • 米国
    • 市場動向
    • 市場予測
  • カナダ
    • 市場動向
    • 市場予測
• アジア太平洋
  • 中国
    • 市場動向
    • 市場予測
  • 日本
    • 市場動向
    • 市場予測
  • インド
    • 市場動向
    • 市場予測
  • 韓国
    • 市場動向
    • 市場予測
  • オーストラリア
    • 市場動向
    • 市場予測
  • インドネシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 欧州
  • ドイツ
    • 市場動向
    • 市場予測
  • フランス
    • 市場動向
    • 市場予測
  • 英国
    • 市場動向
    • 市場予測
  • イタリア
    • 市場動向
    • 市場予測
  • スペイン
    • 市場動向
    • 市場予測
  • ロシア
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• ラテンアメリカ
  • ブラジル
    • 市場動向
    • 市場予測
  • メキシコ
    • 市場動向
    • 市場予測
  • その他
    • 市場動向
    • 市場予測
• 中東・アフリカ地域
  • 市場動向
  • 市場内訳：国別
  • 市場予測

第10章 SWOT分析

• 概要
• 強み
• 弱み
• 機会
• 脅威

第11章 バリューチェーン分析

第12章 ポーターのファイブフォース分析

• 概要
• 買い手の交渉力
• 供給企業の交渉力
• 競合の程度
• 新規参入業者の脅威
• 代替品の脅威

第13章 価格分析

第14章 競合情勢

• 市場構造
• 主要企業
• 主要企業のプロファイル
  • 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.

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

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