The global sales of insurtech market are estimated to be worth USD 25,406.2 million in 2025 and anticipated to reach a value of USD 257,816.7 million by 2035. Sales are projected to rise at a CAGR of 26.1%% over the forecast period between 2025 and 2035. The revenue generated by insurtech in 2024 was USD 20,267.4 million.
The insurtech market is set to experience substantial growth as the insurance industry embraces digital transformation. By leveraging artificial intelligence (AI), big data analytics, blockchain, and cloud computing, insurtech companies are revolutionizing traditional insurance models, enhancing efficiency, and improving customer experience.
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Key Takeaways
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The insurtech market is projected to grow from USD 10.5 billion in 2025 to USD 45.2 billion by 2035, with a CAGR of 15.8%.
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AI, machine learning, and predictive analytics are enhancing risk assessment, underwriting, and claims processing.
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Digital platforms, embedded insurance, and usage-based models are driving customer-centric innovations.
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Insurtech adoption is increasing across health, auto, property, and life insurance segments.
Key Drivers
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Rising demand for AI-driven automation in underwriting, fraud detection, and claims management.
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Growing popularity of telematics-based insurance and personalized pricing models.
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Expansion of blockchain technology to enhance transparency and reduce fraud.
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Increased investment in digital insurance platforms and customer self-service applications.
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Regulatory support for digital transformation in the insurance sector.
Growth Opportunities
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Adoption of embedded insurance solutions in e-commerce, travel, and fintech platforms.
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Expansion of on-demand and microinsurance services to underserved markets.
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Integration of AI-powered chatbots and virtual assistants for personalized customer engagement.
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Growth in parametric insurance models leveraging IoT and real-time data analytics.
Key Applications
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Health Insurance: AI-based diagnostics, remote health monitoring, and automated claims processing.
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Auto Insurance: Telematics-driven policies, pay-as-you-drive models, and AI accident assessments.
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Property Insurance: IoT-enabled risk assessment and blockchain-based contract management.
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Life Insurance: Predictive analytics for policy customization and fraud prevention.
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Key Players
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Lemonade
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Zego
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Root Insurance
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Metromile
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Oscar Health
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Clover Health
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Next Insurance
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PolicyBazaar
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Wefox
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Hippo Insurance
Key Segmentations
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By Technology: AI & ML, Blockchain, IoT, Cloud Computing, Big Data Analytics
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By Deployment: On-Premises, Cloud-Based
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By Insurance Type: Health, Life, Auto, Property, Others
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By Region: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
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