The global market for InsurTech (Insurance Technology) was estimated to be worth US$ 17828 million in 2024 and is forecast to a readjusted size of US$ 57179 million by 2031 with a CAGR of 17.7% during the forecast period 2025-2031.
InsurTech (Insurance Technology) refers to technological innovations that are created and implemented to improve the efficiency of the insurance industry. Insurtech powers the creation, distribution, and administration of the insurance business.Technologies that are currently used in the insurtech field mainly covered Artificial intelligence (AI), Machine learning (ML), Internet of Things (IoT), Smartphone apps, Blockchain technology, etc.The report mainly counts InsurTech technology providers, third-party platforms, agency platforms and insurance IT is not covered.
The InsurTech (Insurance Technology) market is undergoing rapid transformation as digital technologies reshape how insurance services are developed, distributed, and consumed. Traditionally conservative and slow to change, the insurance sector is now embracing digital innovation to improve efficiency, customer experience, and competitiveness. Leading global players such as DXC Technology, Damco Solutions, Wipro Limited, and Majesco play pivotal roles in driving this change, although each currently holds a relatively modest market share-over 1% respectively-reflecting the fragmented and dynamic nature of the industry. The market is marked by a diverse ecosystem of startups and established firms developing specialized solutions tailored to various insurance segments.
Regionally, North America and Europe are the primary hubs for InsurTech innovation, each accounting for approximately 38% and 22% of the global market. These regions benefit from well-developed financial infrastructures, favorable regulatory environments, and high digital adoption rates. However, Asia-Pacific is emerging as a strong contender due to its growing middle class, smartphone penetration, and demand for personalized insurance solutions. Increasing investment activity and government support in countries like China and India are expected to accelerate InsurTech adoption in the region over the coming years.
Looking ahead, the InsurTech market is expected to continue expanding as both insurers and customers demand more efficient, transparent, and personalized services. The property and casualty insurance segment already accounts for over 50% of the market, and it will remain a focal point due to its suitability for automation and data-driven innovation. As regulatory frameworks evolve to accommodate digital insurance models and new technologies such as blockchain and IoT gain traction, InsurTech companies that can adapt quickly and prioritize trust, security, and user experience will lead the next phase of market growth.
This report aims to provide a comprehensive presentation of the global market for InsurTech (Insurance Technology), focusing on the total sales revenue, key companies market share and ranking, together with an analysis of InsurTech (Insurance Technology) by region & country, by Type, and by Application.
The InsurTech (Insurance Technology) market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding InsurTech (Insurance Technology).
Market Segmentation
By Company
- Zipari
- Corvus Insurance
- Wipro Limited
- DXC Technology Company
- Majesco
- OutSystems
- Damco Solutions
- Octo
- ControlExpert
- Sureify
- iSoftStone
- eBaoTech
Segment by Type
- Cloud Computing
- IoT
- AI
- Others
Segment by Application
- Property and Casualty
- Health
- Life
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of InsurTech (Insurance Technology) company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of InsurTech (Insurance Technology) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of InsurTech (Insurance Technology) in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 InsurTech (Insurance Technology) Product Introduction
- 1.2 Global InsurTech (Insurance Technology) Market Size Forecast (2020-2031)
- 1.3 InsurTech (Insurance Technology) Market Trends & Drivers
- 1.3.1 InsurTech (Insurance Technology) Industry Trends
- 1.3.2 InsurTech (Insurance Technology) Market Drivers & Opportunity
- 1.3.3 InsurTech (Insurance Technology) Market Challenges
- 1.3.4 InsurTech (Insurance Technology) Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global InsurTech (Insurance Technology) Players Revenue Ranking (2024)
- 2.2 Global InsurTech (Insurance Technology) Revenue by Company (2020-2025)
- 2.3 Key Companies InsurTech (Insurance Technology) Manufacturing Base Distribution and Headquarters
- 2.4 Key Companies InsurTech (Insurance Technology) Product Offered
- 2.5 Key Companies Time to Begin Mass Production of InsurTech (Insurance Technology)
- 2.6 InsurTech (Insurance Technology) Market Competitive Analysis
- 2.6.1 InsurTech (Insurance Technology) Market Concentration Rate (2020-2025)
- 2.6.2 Global 5 and 10 Largest Companies by InsurTech (Insurance Technology) Revenue in 2024
- 2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in InsurTech (Insurance Technology) as of 2024)
- 2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Cloud Computing
- 3.1.2 IoT
- 3.1.3 AI
- 3.1.4 Others
- 3.2 Global InsurTech (Insurance Technology) Sales Value by Type
- 3.2.1 Global InsurTech (Insurance Technology) Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global InsurTech (Insurance Technology) Sales Value, by Type (2020-2031)
- 3.2.3 Global InsurTech (Insurance Technology) Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 Property and Casualty
- 4.1.2 Health
- 4.1.3 Life
- 4.2 Global InsurTech (Insurance Technology) Sales Value by Application
- 4.2.1 Global InsurTech (Insurance Technology) Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global InsurTech (Insurance Technology) Sales Value, by Application (2020-2031)
- 4.2.3 Global InsurTech (Insurance Technology) Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
- 5.1 Global InsurTech (Insurance Technology) Sales Value by Region
- 5.1.1 Global InsurTech (Insurance Technology) Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global InsurTech (Insurance Technology) Sales Value by Region (2020-2025)
- 5.1.3 Global InsurTech (Insurance Technology) Sales Value by Region (2026-2031)
- 5.1.4 Global InsurTech (Insurance Technology) Sales Value by Region (%), (2020-2031)
- 5.2 North America
- 5.2.1 North America InsurTech (Insurance Technology) Sales Value, 2020-2031
- 5.2.2 North America InsurTech (Insurance Technology) Sales Value by Country (%), 2024 VS 2031
- 5.3 Europe
- 5.3.1 Europe InsurTech (Insurance Technology) Sales Value, 2020-2031
- 5.3.2 Europe InsurTech (Insurance Technology) Sales Value by Country (%), 2024 VS 2031
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific InsurTech (Insurance Technology) Sales Value, 2020-2031
- 5.4.2 Asia Pacific InsurTech (Insurance Technology) Sales Value by Region (%), 2024 VS 2031
- 5.5 South America
- 5.5.1 South America InsurTech (Insurance Technology) Sales Value, 2020-2031
- 5.5.2 South America InsurTech (Insurance Technology) Sales Value by Country (%), 2024 VS 2031
- 5.6 Middle East & Africa
- 5.6.1 Middle East & Africa InsurTech (Insurance Technology) Sales Value, 2020-2031
- 5.6.2 Middle East & Africa InsurTech (Insurance Technology) Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions InsurTech (Insurance Technology) Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.3 United States
- 6.3.1 United States InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.3.2 United States InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.4.2 Europe InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.5.2 China InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.6.2 Japan InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.7.2 South Korea InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.8.2 Southeast Asia InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India InsurTech (Insurance Technology) Sales Value, 2020-2031
- 6.9.2 India InsurTech (Insurance Technology) Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India InsurTech (Insurance Technology) Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 Zipari
- 7.1.1 Zipari Profile
- 7.1.2 Zipari Main Business
- 7.1.3 Zipari InsurTech (Insurance Technology) Products, Services and Solutions
- 7.1.4 Zipari InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.1.5 Zipari Recent Developments
- 7.2 Corvus Insurance
- 7.2.1 Corvus Insurance Profile
- 7.2.2 Corvus Insurance Main Business
- 7.2.3 Corvus Insurance InsurTech (Insurance Technology) Products, Services and Solutions
- 7.2.4 Corvus Insurance InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.2.5 Corvus Insurance Recent Developments
- 7.3 Wipro Limited
- 7.3.1 Wipro Limited Profile
- 7.3.2 Wipro Limited Main Business
- 7.3.3 Wipro Limited InsurTech (Insurance Technology) Products, Services and Solutions
- 7.3.4 Wipro Limited InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.3.5 Wipro Limited Recent Developments
- 7.4 DXC Technology Company
- 7.4.1 DXC Technology Company Profile
- 7.4.2 DXC Technology Company Main Business
- 7.4.3 DXC Technology Company InsurTech (Insurance Technology) Products, Services and Solutions
- 7.4.4 DXC Technology Company InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.4.5 DXC Technology Company Recent Developments
- 7.5 Majesco
- 7.5.1 Majesco Profile
- 7.5.2 Majesco Main Business
- 7.5.3 Majesco InsurTech (Insurance Technology) Products, Services and Solutions
- 7.5.4 Majesco InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.5.5 Majesco Recent Developments
- 7.6 OutSystems
- 7.6.1 OutSystems Profile
- 7.6.2 OutSystems Main Business
- 7.6.3 OutSystems InsurTech (Insurance Technology) Products, Services and Solutions
- 7.6.4 OutSystems InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.6.5 OutSystems Recent Developments
- 7.7 Damco Solutions
- 7.7.1 Damco Solutions Profile
- 7.7.2 Damco Solutions Main Business
- 7.7.3 Damco Solutions InsurTech (Insurance Technology) Products, Services and Solutions
- 7.7.4 Damco Solutions InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.7.5 Damco Solutions Recent Developments
- 7.8 Octo
- 7.8.1 Octo Profile
- 7.8.2 Octo Main Business
- 7.8.3 Octo InsurTech (Insurance Technology) Products, Services and Solutions
- 7.8.4 Octo InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.8.5 Octo Recent Developments
- 7.9 ControlExpert
- 7.9.1 ControlExpert Profile
- 7.9.2 ControlExpert Main Business
- 7.9.3 ControlExpert InsurTech (Insurance Technology) Products, Services and Solutions
- 7.9.4 ControlExpert InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.9.5 ControlExpert Recent Developments
- 7.10 Sureify
- 7.10.1 Sureify Profile
- 7.10.2 Sureify Main Business
- 7.10.3 Sureify InsurTech (Insurance Technology) Products, Services and Solutions
- 7.10.4 Sureify InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.10.5 Sureify Recent Developments
- 7.11 iSoftStone
- 7.11.1 iSoftStone Profile
- 7.11.2 iSoftStone Main Business
- 7.11.3 iSoftStone InsurTech (Insurance Technology) Products, Services and Solutions
- 7.11.4 iSoftStone InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.11.5 iSoftStone Recent Developments
- 7.12 eBaoTech
- 7.12.1 eBaoTech Profile
- 7.12.2 eBaoTech Main Business
- 7.12.3 eBaoTech InsurTech (Insurance Technology) Products, Services and Solutions
- 7.12.4 eBaoTech InsurTech (Insurance Technology) Revenue (US$ Million) & (2020-2025)
- 7.12.5 eBaoTech Recent Developments
8 Industry Chain Analysis
- 8.1 InsurTech (Insurance Technology) Industrial Chain
- 8.2 InsurTech (Insurance Technology) Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 InsurTech (Insurance Technology) Sales Model
- 8.5.2 Sales Channel
- 8.5.3 InsurTech (Insurance Technology) Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer