Press release
Key Influencer in the Insurance Market 2025: Internet Penetration And Growing Risks Fuel The Demand For Cyber Insurance Driver
Insurance Market Size
The accelerating expansion of internet usage and the heightened risk linked to conducting high-stakes transactions online gives rise to the need for cyber insurance. Such insurance protects against the perils associated with the internet and IT infrastructure. It encompasses protection against theft of assets, disruption to business, software and data loss, cyber extortion and crimes, liability for network failure, and damage to physical assets. As a case in point, Meltwater, a software company based in the Netherlands, revealed in February 2023 that UK internet users increased by 224 thousand (+0.3 percent) from 2022 to 2023, bringing the total user population to 66.11 million. Consequently, the spiking internet usage and affiliated risks are propelling the insurance market forward.
Get Your Insurance Market Report Here:
https://www.thebusinessresearchcompany.com/report/insurance-global-market-report
What is the future CAGR of the insurance market, and how will it impact industry expansion?
The size of the insurance market has seen robust growth in preceding years. It is projected to expand from a value of $7751.02 billion in 2024, attaining a size of $8307.01 billion in 2025, recording a compound annual growth rate (CAGR) of 7.2%. Factors contributing to the growth experienced in the historic period include the globalization of insurance services, demographic shifts, an aging population, occurrences of natural disasters, changes in customer habits, and widening of distribution channels.
In the forthcoming years, the insurance market is predicted to experience robust expansion, escalating to a value of $10832.92 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.9%. Various factors such as digital transformation, focus on cyber insurance, management of population health, environmental risks and climate change, and climate risk insurance are responsible for this growth in the forecasted period. The upcoming period will observe significant trends such as collaboration in Insurtech, AI-based personalization, implementation of blockchain for enhancing efficiency, digital experiences centered around customers, alliances within ecosystems, and regulatory technologies (regtech).
Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=230&type=smp
What are the most significant trends transforming the insurance market today?
Leading firms within the insurance market are incorporating advanced technologies, like the AI-enabled tool PolicyGPT, to maintain their market standing. PolicyGPT is an AI-driven solution designed to provide customers with insightful details about their policies through interaction with a bot programmed with natural language. For example, Plum Benefits Private Limited, a health insurance company based in India, introduced the AI-enabled tool PolicyGPT in April 2023. Utilising the Open AI GPT-3 framework, they developed PolicyGPT, a chatbot meant to inform people about the specifics of their health insurance policy purchased through Plum. This bot is equipped with comprehensive knowledge of user policies and general health insurance, focusing on enlightening users about their coverage.
Which key market segments comprise the insurance market and drive its revenue growth?
The insurance market covered in this report is segmented -
1) By Type: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance
2) By Mode: Online, Offline
3) By End User: Corporate, Individual
Subsegments:
1) By Life Insurance: Term Life Insurance, Whole Life Insurance, Universal Life Insurance, Endowment Plans
2) By Property And Casualty Insurance: Homeowners Insurance, Auto Insurance, Commercial Property Insurance, Liability Insurance
3) By Health And Medical Insurance: Individual Health Insurance, Group Health Insurance, Medicare And Medicaid, Critical Illness Insurance
Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=230
What regions are at the forefront of insurance market expansion?
North America was the largest region in the insurance market in 2024. Asia-Pacific was the second largest region in the insurance market. The regions covered in the insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the insurance market?
Major companies operating in the insurance market include Berkshire Hathaway Inc., Centene, Anthem Inc., Allianz Group, Axa Group, Assicurazioni Generali S.p.A., Humana, State Farm Mutual Automobile Insurance Company, People's Insurance Company of China, Japan Post Group, Nationwide Mutual Insurance Company, Allstate Corporation, Liberty Mutual Holding Company Inc., Chubb Limited, The Travelers Companies Inc., Fairfax Financial Holdings Limited, The Hartford Financial Services Group Inc., American Family Insurance Group, CNA Financial Corporation, Markel Corporation, W. R. Berkley Corporation, Auto-Owners Insurance Company, The Cincinnati Insurance Companies, Erie Insurance Group, AmTrust Financial Services Inc., The Hanover Insurance Group Inc., Church Mutual Insurance Company, Brotherhood Mutual Insurance Company, Ping An Insurance, China Life Insurance, Tokio Marine & Nichido Fire Insurance Co. Ltd., Farmers Group Inc., Tata AIG General Insurance Company Limited, GNY Insurance Companies
Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=230&type=smp
What Is Covered In The Insurance Global Market Report?
•Market Size Forecast: Examine the insurance market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the insurance market for a structured understanding.
•Key Players Overview: Analyze major players in the insurance market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the insurance market.
•Segment Contributions: Evaluate how different segments drive overall growth in the insurance market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the insurance market.
•Industry Challenges: Identify potential risks and obstacles affecting the insurance market.
•Competitive Landscape: Review strategic developments in the insurance market, including expansions, agreements, and new product launches.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Key Influencer in the Insurance Market 2025: Internet Penetration And Growing Risks Fuel The Demand For Cyber Insurance Driver here
News-ID: 3911730 • Views: …
More Releases from The Business Research Company
2025-2034 Inkjet Coder Market Evolution: Disruptions, Innovations, and Untapped …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Inkjet Coder Market Through 2025?
Strong growth has been witnessed in recent years in the inkjet coder market. It is projected that this market will expand from $2.11 billion in 2024 to $2.27 billion in 2025, experiencing a compound annual growth rate…
Global Industrial Cooking Fire Protection Systems For Food Manufacturing Market …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Industrial Cooking Fire Protection Systems For Food Manufacturing Industry Market Size Be by 2025?
Over the past few years, the market size for industrial cooking fire protection systems used in food manufacturing has seen a consistent growth. It is projected that the market value will grow…
High Speed Engine Market Trends That Will Shape the Next Decade: Insights from I …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the High Speed Engine Market Size By 2025?
The market for high speed engines has seen considerable growth in the last few years. The market which is valued at $24.17 billion in 2024 is predicted to reach $25.58 billion in 2025, experiencing a Compound Annual Growth…
Industrial Sector Growth Fuels Expansion Of Evaporative Cooling Market: The Driv …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Evaporative Cooling Market Size Growth Forecast: What to Expect by 2025?
The market size for evaporative cooling has seen a robust growth in recent times. The outlook predicts an escalation from $6.41 billion in 2024 to $6.8 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.…
More Releases for Insurance
Renters Insurance Market Dazzling Worldwide with Major Giants Travelers Insuranc …
According to HTF Market Intelligence, the Global Renters Insurance market to witness a CAGR of xx% during the forecast period (2024-2030). The Latest research study released by HTF MI "Renters Insurance Market with 120+ pages of analysis on business Strategy taken up by key and emerging industry players and delivers know-how of the current market development, landscape, technologies, drivers, opportunities, market viewpoint, and status. Understanding the segments helps in identifying…
Renters Insurance Market to See Competition Rise | Travelers Insurance, Geico In …
HTF MI introduces new research on Renters Insurance covering the micro level of analysis by competitors and key business segments (2023-2029). The Renters Insurance explores a comprehensive study of various segments like opportunities, size, development, innovation, sales, and overall growth of major players. The research is carried out on primary and secondary statistics sources and it consists of both qualitative and quantitative detailing. Some of the major key players profiled…
Insurance Road Assistance Services Market Is Booming Worldwide | Travelers Insur …
Insurance Road Assistance Services Market: The extensive research on Insurance Road Assistance Services Market, by Qurate Research is a clear representation on all the essential factors that are expected to drive the market considerably. Thorough study on Insurance Road Assistance Services Market helps the buyers of the report, customers, the stakeholders, business owners, and stockholders to understand the market in detail. The updated research report comprises key information on the…
Agriculture Crop Insurance Market Type (MPCI Insurance, Hail Insurance, Livestoc …
Agriculture Crop Insurance market worldwide Agriculture is an important contributor to any economy. The extensive use of crops for direct human consumption and industrial processes has resulted in increasing the pressure on the existing supply demand gap. Increasing need for food security is expected to augment the demand for insurance policies. The two major risks in agricultural sector are price risk, caused due to volatility in prices in the market…
Household Insurance Market By Key Players: Discount Insurance Home Insurance, On …
Household Insurance Industry Overview
The Household Insurance market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Household Insurance market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Household Insurance market…
Life Insurance Market in Kuwait By Warba Insurance Company, Al Ahleia Insurance …
GlobalData’s 'Life Insurance in Kuwait, Key Trends and Opportunities to 2021' report provides a detailed outlook by product category for the Kuwaiti life insurance segment, and a comparison of the Kuwaiti insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2012-2016) and forecast period (2016-2021).
The report also…
