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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、2024～2032年

Insurtech Market Report by Type, Service, Technology, and Region 2024-2032
出版日: | 発行: IMARC | ページ情報: 英文 145 Pages | 納期: 2～3営業日

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価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=142.54円
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、2024～2032年
出版日: 2024年08月10日
発行: IMARC
ページ情報: 英文 145 Pages
納期: 2～3営業日
  • 全表示
  • 概要
  • 図表
  • 目次
概要

世界のインシュアテック市場規模は2023年に76億米ドルに達しました。今後、IMARC Groupは、2032年には1,217億米ドルに達し、2024～2032年にかけて35％の成長率（CAGR）を示すと予測しています。保険業界におけるデジタル技術の採用の増加、シームレスなデジタル体験に対する顧客の期待の変化、モノのインターネット（IoT）デバイスの台頭、人工知能（AI）による保険詐欺対策のニーズの高まり、デジタル化を加速させるCOVID-19パンデミックの影響、伝統的な保険会社とインシュアテック新興企業との提携などは、市場成長を加速させる要因の一部です。

インシュアテック市場分析

市場の成長と規模デジタル技術の普及、顧客の期待の変化、IoTの活用などの要因に基づき、市場は力強い成長を遂げています。市場規模も大きく、今後も拡大が続くと予測されます。

主要市場促進要因：主要促進要因としては、デジタル技術の採用、シームレスな体験に対する顧客中心の要求、IoTによるリアルタイムデータへの影響、AIによる不正防止、COVID-19パンデミックによるデジタル化の加速、規制の変更、パートナーシップ、データの豊富さ、世界展開などが挙げられます。

技術の進歩：インシュアテックは、人工知能、機械学習、ブロックチェーン、モノのインターネット（IoT）などの最先端技術を活用して、リスク評価の強化、保険金請求処理の合理化、革新的な保険商品の開発に取り組み、業界内の効率性と俊敏性を促進しています。

業界への応用：インシュアテックソリューションは、保険引受、保険金請求処理、リスク評価、不正検知に応用され、保険会社の業務や顧客との関わり方を変革しています。

主要市場動向：注目すべき動向としては、顧客中心のデジタルエクスペリエンスへのシフト、データ主導の意思決定のためのIoTの活用、伝統的な保険会社とインシュアテック新興企業との協業の活発化などが挙げられます。

地域別の動向：インシュアテックの導入は地域によって異なり、北米と欧州が市場をリードする一方、アジア太平洋は中間所得層の急増により有望な成長ポテンシャルを示しています。

競合情勢：市場競争は激しく、既存の保険会社と新興企業の双方が市場シェアを争っています。これらの企業間の提携は一般的であり、イノベーションを促進しています。

課題と機会：課題としては、規制の遵守、データ・プライバシーの問題、設備投資の必要性などが挙げられます。機会は、未開拓市場の開拓、革新的ソリューションの開発、進化する顧客ニーズへの対応にあります。

インシュアテック市場動向

保険におけるデジタル技術の導入

世界のインシュアテック市場の売上は、保険業界におけるデジタル技術の広範な採用によって増加しています。インシュアテック企業は人工知能（AI）とデータ分析の力を活用し、保険業務の様々な側面を効率化しています。AIを活用したアルゴリズムにより、保険会社は保険引受の正確性、保険金請求処理の効率性、リスク評価を向上させることができ、全体的な顧客体験を向上させるだけでなく、運営コストを大幅に削減することができます。また、デジタル技術の導入により、定型業務の自動化が促進され、保険会社は人的資源をより戦略的で付加価値の高い業務に振り向けることができます。保険セクターがデジタル化を受け入れ続ける中、インシュアテックのソリューションは、保険業界を近代化し、保険会社や保険契約者の進化するニーズに応える上で極めて重要な役割を果たしています。

顧客の期待とデジタル要求の変化

インシュアテック市場は、顧客の期待の変化とシームレスなデジタル体験に対する需要の高まりの結果、力強い成長を遂げています。さらに、インシュアテック企業は、直感的なオンライン・プラットフォームやモバイル・アプリを提供することで、顧客が簡単に保険契約を購入し、保険金を請求し、情報にアクセスできるようにし、この需要を活用しています。このようなデジタル化へのシフトは、顧客満足度を向上させ、保険会社が契約者とより効果的に関わることを可能にしています。顧客中心主義が最重要視され、急速に進化する情勢の中で競合を維持し、適切な存在であり続けるために、伝統的な保険会社はインシュアテックソリューションへの投資を進めています。

IoTとリアルタイム・データ

モノのインターネット（IoT）は、好意的なインシュアテック市場の展望を提供する上で極めて重要な役割を果たしています。テレマティクスやウェアラブル技術などのIoT機器は、保険会社が有利に活用できる膨大な量のリアルタイム・データを生成しています。例えば、自動車に搭載されたテレマティクス・デバイスは、ドライバーの行動に関する貴重な洞察を保険会社に提供し、実際の運転習慣に基づいてパーソナライズされた価格設定を可能にします。一方、ウェアラブル技術は、保険会社が契約者の健康状態やライフスタイルをモニターすることを可能にし、より正確な保険引受やリスク評価につながります。このようなリアルタイムのデータへのアクセスは、保険料設定の精度を高めるだけでなく、保険会社が個々のニーズに合わせた革新的な商品を開発する力となり、最終的には顧客満足度の向上につながります。

保険詐欺の増加

保険詐欺の急増はインシュアテックのセグメントでも勢いを増しており、人工知能（AI）が中心的な役割を果たしています。保険会社は長い間、不正請求に悩まされてきました。不正請求は金銭的損失をもたらすだけでなく、業界内の信頼も損なう。インシュアテック企業は、不正行為をより効果的に検知・防止するため、AIを活用したアルゴリズムを導入しています。これらのアルゴリズムは膨大なデータセットとパターンを分析し、疑わしいクレームや行動を特定することで、保険会社はタイムリーに対策を講じることができます。AIを活用することで、保険会社は不正な決済を減らし、手作業による不正検知にかかる業務コストを削減し、保険ポートフォリオの健全性を維持することができます。不正行為と効率的に闘う能力は、世界の保険業界におけるインシュアテックソリューションの採用の有力な推進力であり、保険会社と保険契約者の双方にとって、より安全で信頼できる環境を醸成するものです。

目次

第1章 序文

第2章 調査範囲と調査手法

  • 調査の目的
  • ステークホルダー
  • 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
  • 主要業界動向

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
  • 仕事
  • 健康
  • 住宅
  • 専門
  • 旅行
  • その他

第7章 市場内訳：サービス別

  • コンサルティング
  • サポートとメンテナンス
  • マネージドサービス

第8章 市場内訳：技術別

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

第9章 市場内訳：地域別

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

List of Figures

  • Figure 1: Global: Insurtech Market: Major Drivers and Challenges
  • Figure 2: Global: Insurtech Market: Sales Value (in Billion US$), 2018-2023
  • Figure 3: Global: Insurtech Market Forecast: Sales Value (in Billion US$), 2024-2032
  • Figure 4: Global: Insurtech Market: Breakup by Type (in %), 2023
  • Figure 5: Global: Insurtech Market: Breakup by Service (in %), 2023
  • Figure 6: Global: Insurtech Market: Breakup by Technology (in %), 2023
  • Figure 7: Global: Insurtech Market: Breakup by Region (in %), 2023
  • Figure 8: Global: Insurtech (Auto) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 9: Global: Insurtech (Auto) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 10: Global: Insurtech (Business) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 11: Global: Insurtech (Business) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 12: Global: Insurtech (Health) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 13: Global: Insurtech (Health) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 14: Global: Insurtech (Home) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 15: Global: Insurtech (Home) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 16: Global: Insurtech (Specialty) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 17: Global: Insurtech (Specialty) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 18: Global: Insurtech (Travel) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 19: Global: Insurtech (Travel) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 20: Global: Insurtech (Other Types) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 21: Global: Insurtech (Other Types) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 22: Global: Insurtech (Consulting) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 23: Global: Insurtech (Consulting) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 24: Global: Insurtech (Support and Maintenance) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 25: Global: Insurtech (Support and Maintenance) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 26: Global: Insurtech (Managed Services) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 27: Global: Insurtech (Managed Services) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 28: Global: Insurtech (Blockchain) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 29: Global: Insurtech (Blockchain) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 30: Global: Insurtech (Cloud Computing) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 31: Global: Insurtech (Cloud Computing) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 32: Global: Insurtech (IoT) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 33: Global: Insurtech (IoT) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 34: Global: Insurtech (Machine Learning) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 35: Global: Insurtech (Machine Learning) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 36: Global: Insurtech (Robo Advisory) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 37: Global: Insurtech (Robo Advisory) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 38: Global: Insurtech (Other Technologies) Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 39: Global: Insurtech (Other Technologies) Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 40: North America: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 41: North America: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 42: United States: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 43: United States: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 44: Canada: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 45: Canada: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 46: Asia-Pacific: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 47: Asia-Pacific: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 48: China: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 49: China: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 50: Japan: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 51: Japan: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 52: India: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 53: India: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 54: South Korea: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 55: South Korea: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 56: Australia: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 57: Australia: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 58: Indonesia: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 59: Indonesia: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 60: Others: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 61: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 62: Europe: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 63: Europe: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 64: Germany: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 65: Germany: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 66: France: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 67: France: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 68: United Kingdom: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 69: United Kingdom: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 70: Italy: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 71: Italy: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 72: Spain: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 73: Spain: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 74: Russia: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 75: Russia: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 76: Others: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 77: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 78: Latin America: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 79: Latin America: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 80: Brazil: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 81: Brazil: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 82: Mexico: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 83: Mexico: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 84: Others: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 85: Others: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • Figure 86: Middle East and Africa: Insurtech Market: Sales Value (in Million US$), 2018 & 2023
  • Figure 87: Middle East and Africa: Insurtech Market: Breakup by Country (in %), 2023
  • Figure 88: Middle East and Africa: Insurtech Market Forecast: Sales Value (in Million US$), 2024-2032
  • 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, 2023 and 2032
  • Table 2: Global: Insurtech Market Forecast: Breakup by Type (in Million US$), 2024-2032
  • Table 3: Global: Insurtech Market Forecast: Breakup by Service (in Million US$), 2024-2032
  • Table 4: Global: Insurtech Market Forecast: Breakup by Technology (in Million US$), 2024-2032
  • Table 5: Global: Insurtech Market Forecast: Breakup by Region (in Million US$), 2024-2032
  • Table 6: Global: Insurtech Market: Competitive Structure
  • Table 7: Global: Insurtech Market: Key Players
目次
Product Code: SR112024A3636

The global insurtech market size reached US$ 7.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 121.7 Billion by 2032, exhibiting a growth rate (CAGR) of 35% during 2024-2032. Increasing adoption of digital technologies within the insurance industry, changing customer expectations for seamless digital experiences, the rise of Internet of Things (IoT) devices, the escalating need to combat insurance fraud with artificial intelligence (AI), the impact of the COVID-19 pandemic accelerating digitization, and partnerships between traditional insurers and insurtech startups are some of the factors accelerating the market growth.

Insurtech Market Analysis:

Market Growth and Size: The market is experiencing robust growth, driven by factors like the widespread adoption of digital technologies, changing customer expectations, and IoT utilization. It is projected to continue expanding in the coming years, with a significant market size.

Major Market Drivers: Key drivers include the adoption of digital technologies, customer-centric demands for seamless experiences, IoT's impact on real-time data, AI-driven fraud prevention, the COVID-19 pandemic's acceleration of digitization, regulatory changes, partnerships, data abundance, and global expansion.

Technological Advancements: Insurtech has leveraged cutting-edge technologies such as artificial intelligence, machine learning, blockchain, and Internet of Things (IoT) to enhance risk assessment, streamline claims processing, and develop innovative insurance products, fostering efficiency and agility within the industry.

Industry Applications: Insurtech solutions find applications in underwriting, claims processing, risk assessment, and fraud detection, transforming how insurers operate and interact with customers.

Key Market Trends: Notable trends include the shift towards customer-centric digital experiences, the use of IoT for data-driven decision-making, and the increasing collaboration between traditional insurers and insurtech startups.

Geographical Trends: Insurtech adoption varies by region, with North America and Europe leading the market, while Asia-Pacific shows promising growth potential due to its burgeoning middle-class population.

Competitive Landscape: The insurtech market is highly competitive, with both established insurers and startups vying for market share. Partnerships between these entities are common, fostering innovation.

Challenges and Opportunities: Challenges include regulatory compliance, data privacy concerns, and the need for capital investment. Opportunities lie in tapping into unexplored markets, developing innovative solutions, and addressing evolving customer needs.

Insurtech Market Trends:

Adoption of digital technologies in insurance

The global insurtech market revenue is rising driven by the widespread adoption of digital technologies within the insurance industry. Insurtech companies are harnessing the power of artificial intelligence (AI) and data analytics to streamline various aspects of insurance operations. Through AI-driven algorithms, insurers can enhance underwriting accuracy, claims processing efficiency, and risk assessment, which not only improves the overall customer experience but also reduces operational costs significantly. The adoption of digital technologies also facilitates the automation of routine tasks, enabling insurers to redirect their human resources towards more strategic and value-added activities. As the insurance sector continues to embrace digitization, insurtech solutions are playing a pivotal role in modernizing the industry and meeting the evolving needs of insurers and policyholders alike.

Changing customer expectations and digital demands

The insurtech market is experiencing robust growth as a result of changing customer expectations and the increasing demand for seamless digital experiences. Moreover, insurtech companies are capitalizing on this demand by offering intuitive online platforms and mobile apps that enable customers to purchase policies, submit claims, and access information with ease. This shift towards digitalization improves customer satisfaction and allows insurers to engage with their policyholders more effectively. It is driving traditional insurance companies to invest in insurtech solutions to remain competitive and relevant in a rapidly evolving landscape where customer-centricity is paramount.

IoT and real-time data

The Internet of Things (IoT) is playing a pivotal role in offering a favorable insurtech market outlook. IoT devices, such as telematics and wearable technology, are generating vast amounts of real-time data that insurers can leverage to their advantage. Telematics devices installed in vehicles, for instance, provide insurers with valuable insights into driver behavior, enabling personalized pricing based on actual driving habits. Wearable technology, on the other hand, allows insurers to monitor policyholders' health and lifestyle choices, leading to more accurate underwriting and risk assessment. This access to real-time data not only enhances the accuracy of insurance pricing but also empowers insurers to develop innovative products tailored to individual needs, ultimately improving customer satisfaction.

Increasing cases of insurance fraud

The surging prevalence of insurance fraud is gaining momentum in the insurtech arena, with artificial intelligence (AI) playing a central role. Insurers have long struggled with fraudulent claims, which not only result in financial losses but also erode trust within the industry. Insurtech companies are deploying AI-driven algorithms to detect and prevent fraudulent activities more effectively. These algorithms analyze vast datasets and patterns to identify suspicious claims and behaviors, enabling insurers to take timely action. By leveraging AI, insurers can reduce fraudulent payouts, lower operational costs associated with manual fraud detection, and maintain the integrity of their insurance portfolios. The ability to combat fraud efficiently is a compelling driver for the adoption of insurtech solutions within the global insurance industry, fostering a more secure and trustworthy environment for both insurers and policyholders.

Insurtech Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts for the at the global, regional and country levels from 2024-2032. 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 auto insurance segment is driven by the increasing prevalence of telematics and IoT devices, which enable insurers to collect real-time data on driver behavior, leading to more accurate risk assessment and personalized pricing. Moreover, the expansion of electric and autonomous vehicles introduces new risks and opportunities for insurers, further fueling insurtech market growth.

In the business insurance segment, the increasing complexity of risks faced by organizations in the digital age is a key driver. Cybersecurity threats, supply chain disruptions, and regulatory changes require comprehensive coverage, driving the demand for tailored insurance solutions. Additionally, the evolving nature of the workforce, with more remote and gig workers, necessitates flexible insurance products to address emerging liability concerns.

The health insurance segment is primarily influenced by rising healthcare costs and the shift towards preventative care, driving the demand for innovative health insurance products. Insurers are focusing on wellness programs, telemedicine services, and data-driven insights to lower healthcare expenses and improve customer health outcomes.

In the home insurance segment, factors such as natural disasters, climate change, and increasing property values are driving the need for robust coverage. Insurers are leveraging advancements in smart home technology to offer more customized policies that align with homeowners' specific needs and risks.

The specialty insurance segment sees growth driven by surging prevalence of cyberattacks. As the business landscape evolves, specialty insurers develop expertise in these specialized areas to provide tailored coverage and risk management solutions.

The travel insurance segment within the insurtech market is also experiencing substantial growth, fueled by increasing global travel, rising awareness of travel-related risks, and the demand for customized insurance solutions.

In the others segment, rapid innovation, emerging risks, and regulatory changes are common factors driving growth and shaping the landscape across different insurance specialties.

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 driven by the increasing demand for expert guidance in navigating complex market dynamics and achieving strategic goals. Organizations seek consulting services to gain insights, develop effective strategies, and optimize their operations, especially in rapidly evolving industries, such as insurtech.

The support and maintenance segment is driven by the growing reliance on technology solutions in the insurtech ecosystem. As companies increasingly rely on digital platforms and software, there's a parallel need for ongoing technical support and maintenance services to ensure the uninterrupted operation of these systems. Clients value timely troubleshooting, updates, and system optimization to enhance efficiency and customer experiences, making this segment integral to insurtech's success.

The managed services segment is driven by the escalating demand for outsourced operational efficiency and expertise. Organizations opt for managed services to offload the complexities of managing their insurtech infrastructure and operations, which allows them to focus on core business activities while benefiting from specialized skills and 24/7 support. The cost-effectiveness and scalability of managed services make them an attractive choice for insurtech firms seeking to efficiently manage their technology and operational needs.

Breakup by Technology:

Blockchain

Cloud Computing

IoT

Machine Learning

Robo Advisory

Others

Convenience stores represents the leading market segment

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.

The blockchain segment is driven by the increasing need for secure and transparent digital transactions. Blockchain technology offers immutable, decentralized ledgers, which are particularly valuable in financial services, supply chain management, and healthcare, where data integrity and trust are paramount.

The cloud computing segment is propelled by the growing demand for scalable, cost-effective, and flexible IT solutions. Organizations across various industries are adopting cloud services to streamline operations, enhance data storage, and facilitate remote work.

In the IoT segment, the proliferation of connected devices is a key driver. Industries such as manufacturing, agriculture, and smart cities leverage IoT to collect and analyze real-time data, improving efficiency and decision-making.

The machine learning (ML) segment's growth is fueled by its capacity to process vast datasets and extract insights. It finds applications in predictive analytics, recommendation systems, and autonomous vehicles, among others.

The robo advisory segment is also on the rise due to the need for automated, low-cost investment management services. Investors seek convenient and algorithm-driven financial advice. In the broader landscape, emerging technologies like quantum computing and 5G connectivity are driven by the pursuit of faster processing power and enhanced connectivity, promising transformative impacts across various sectors, from healthcare to telecommunications.

The others segment is driven by various factors, including the surging need for efficiency, cost savings, and innovation across industries. These technologies encompass augmented reality (AR), virtual reality (VR), artificial intelligence (AI), each addressing unique market demands and opportunities for advancement.

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 leads the market, accounting for the largest Insurtech market share

The insurtech market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, 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.

The North American, the insurtech market is driven by the increasing adoption of insurtech solutions, driven by its advanced technological infrastructure and a customer base increasingly demanding digital experiences. Additionally, the rise of IoT devices, particularly in the United States and Canada, has allowed insurers to leverage real-time data for more accurate underwriting and claims processing. Moreover, the collaborative efforts between traditional insurance giants and insurtech startups have fueled the market's growth, leading to the development of cutting-edge solutions.

In Europe, the insurtech market is driven by the increasing digitization of the insurance industry and the continent's commitment to regulatory excellence. The region's diverse insurance landscape is embracing digital transformation, with tech-savvy consumers pushing for seamless online experiences.

The Asia Pacific region's market is driven by the increasing demand for insurance products among its burgeoning middle-class population and the rapid adoption of digital technologies. Insurtech is gaining traction across the region as consumers seek convenient, tech-driven insurance solutions. In countries like China and India, where insurance penetration is expanding, insurtech is addressing the need for accessible and affordable insurance through mobile apps and online platforms.

In Latin America, the insurtech market is driven by a combination of factors, including the growing mobile internet penetration and increasing awareness of the importance of insurance. Insurtech companies are capitalizing on these opportunities by providing easily accessible and affordable insurance solutions through digital channels.

The Middle East and Africa region are driven by the increasing need for insurance solutions, especially in underserved markets, and the rapid adoption of digital technologies. Insurtech is gaining ground in this region as it bridges the insurance gap by providing affordable and accessible coverage to a growing population.

Leading Key Players in the Insurtech Industry:

In the dynamic global insurtech market, key players are actively engaged in a range of strategic initiatives aimed at capitalizing on market opportunities and addressing industry challenges. Established insurance giants are increasingly partnering with insurtech startups to harness technological innovations and streamline their operations. These collaborations result in the development of cutting-edge solutions that enhance customer experiences, improve underwriting accuracy, and drive operational efficiency. Additionally, major players are investing heavily in data analytics and artificial intelligence (AI) technologies to harness the power of real-time data and deliver personalized insurance offerings. This approach enables insurers to tailor policies and pricing based on individual behaviors and needs, ultimately boosting customer satisfaction and loyalty. Moreover, key market players are expanding their geographical presence, particularly in regions with untapped insurtech potential, such as Asia-Pacific and Latin America. These expansion efforts help them tap into new customer bases and diversify their portfolios. Furthermore, the focus on regulatory compliance remains paramount, as insurtech firms are keen on adhering to evolving industry standards and data privacy regulations.

The market research report has provided a comprehensive analysis of the competitive landscape. 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.

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

In March 2021: Clover Health announced its expansion into more U.S. markets to provide its Medicare Advantage plans to a broader population.

In 2021: Damco Group announced to focus on strengthening its partnerships with insurance carriers and adopting advanced data analytics for risk assessment.

In May 2021: DXC Technology collaborated with various insurtech startups to develop and implement advanced digital insurance solutions.

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