Press release
Life Insurance Rating Systems Market Expansion Continues, with Forecast Valuation of $4.74 Billion by 2029
Life Insurance Rating Systems
Life Insurance Rating Systems Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
There has been significant growth in the life insurance rating systems market size over the past few years. The market value is predicted to escalate from $3.29 billion in 2024 to $3.50 billion in 2025, with a compound annual growth rate (CAGR) of 8.2%. This growth during the historic period is largely due to heightened consumer awareness regarding the need for life insurance, widespread adoption of digital technologies within the insurance sector, and an increasing occurrence of chronic illnesses and health hazards.
Life Insurance Rating Systems Market Size Forecast: What's the Projected Valuation by 2029?
The market size for life insurance rating systems is poised for significant expansion in the coming years, potentially growing to $4.74 billion by 2029, reflecting a 7.9% compound annual growth rate (CAGR). Factors such as an escalating demand for precise and efficient rating systems, the need for swift and accurate underwriting, the introduction of innovative insurance products to increase market presence, and an expanding reliance on artificial intelligence (AI) and machine learning are contributing to the growth. Predominant trends anticipated over the forecast period include technological progress, amplified use of AI and machine learning for improved risk analysis, digital migration to expand market progress, and a surge in the usage of no-code and low-code platforms for rating system customization.
View the full report here:
https://www.thebusinessresearchcompany.com/report/life-insurance-rating-systems-global-market-report
What Are the Drivers Transforming the Life Insurance Rating Systems Market?
The increasing adoption of cloud computing is anticipated to fuel the expansion of the life insurance rating systems market. The term "cloud adoption" is employed to describe the migration of digital assets, services, applications, or IT resources from a traditional on-premises infrastructure to a cloud-based platform. The shift towards cloud computing is primarily due to its cost-effectiveness; it eradicates the necessity for substantial initial expenditures on hardware and permits organizations to pay exclusively for the resources they utilize. Implementing cloud computing can enhance insurance rating systems by facilitating real-time data processing, scalability, and sophisticated analytics, which in turn leads to more precise and dynamic risk appraisals. For example, in January 2025, AAG IT, a British IT services firm, reported that revenue from public cloud services saw a considerable surge, increasing from $343 billion in 2021 to over $415 billion in 2022, and it's projected to reach $526 billion in 2023. Additionally, it's worth noting that over 98% of organizations are making use of cloud services, such as SaaS applications and fully cloud-native networks. As a result, the growing use of cloud computing is a primary factor contributing to the expansion of the life insurance rating systems market.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=27115&type=smp
What Long-Term Trends Will Define the Future of the Life Insurance Rating Systems Market?
Leading companies in the life insurance rating systems market are pivoting to the development of breakthrough solutions such as AI-enabled tools for life insurance underwriting to increase the precision of risk assessments, expedite policy provision, and enrich customer engagement. An AI-enabled tool for life insurance underwriting signifies a technological solution that employs AI and machine learning methodologies to evaluate applicants' risk profiles, interpret medical and behavioural information, and automate underwriting resolutions with higher effectiveness and proficiency. For instance, in June 2023, Insurance Software Automation, a US-based InsurTech firm, introduced Best Plan Pro 2.0, an enhanced, AI-enabled life insurance underwriting tool devised to simplify the underwriting procedure for agents. Harnessing top-tier linguistic and pattern-based AI, the updated version instantaneously contrasts numerous insurance products, supplying agents with up-to-the-minute quotes and custom product suggestions matching a customer's medical issues and insurers' specific stipulations. Best Plan Pro 2.0 incorporates a more user-friendly interface, optimised data input, and robotic process automation that empowers agents to speedily pre-qualify customers for final expense, term life, or Medicare add-on products, eventually leading to swifter, more precise proposals and a streamlined operation for life insurance specialists.
Which Segments in the Life Insurance Rating Systems Market Offer the Most Profit Potential?
The life insurance rating systems market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Distribution Channel: Direct Sales, Insurance Brokers, Online Platforms, Bancassurance, Independent Agents
4) By End-User: Insurance Companies, Brokers, Agencies, Other End-Users
Subsegments:
1) By Software: On-Premise Software, Cloud-Based Software, Integrated Policy Administration Systems, Standalone Rating Engines, Actuarial Modeling Tools
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Training And Education Services
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=27115&type=smp
Which Firms Dominate the Life Insurance Rating Systems Market by Market Share and Revenue in 2025?
Major companies operating in the life insurance rating systems market are Oracle Corporation, CGI Group Inc., LexisNexis Risk Solutions Inc., Milliman Inc., Guidewire Software Inc., Vertafore Inc., Applied Systems Inc., Majesco Limited, Sapiens International Corporation N.V., Duck Creek Technologies Inc., Insurity Inc., Aptitude Software Group plc, Capterra Inc., HawkSoft Inc., EZLynx a Solera Company, BriteCore, InsuredHQ Pty Ltd, Insurance Technologies Corporation (ITC), Buckhill Ltd, TurboRater.
Which Regions Offer the Highest Growth Potential in the Life Insurance Rating Systems Market?
North America was the largest region in the life insurance rating systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the life insurance rating systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=27115
This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Speak With Our Expert:
Saumya Sahay
Americas +1 310-496-7795,
Asia +44 7882 955267 & +91 8897263534,
Europe +44 7882 955267
Email:saumyas@tbrc.info
The Business Research Company -www.thebusinessresearchcompany.com
Follow Us On:
LinkedIn:https://in.linkedin.com/company/the-business-research-company
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 Life Insurance Rating Systems Market Expansion Continues, with Forecast Valuation of $4.74 Billion by 2029 here
News-ID: 4164865 • Views: …
More Releases from The Business Research Company
Major Growth Driver Identified in 2025 Long Term Care Insurance Market: Surge In …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Long Term Care Insurance Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, we've seen significant acceleration in the size of the long-term care insurance market. Projections indicate that it will expand from $281.77 billion in 2024 to $311.44 billion in…
Lightweight Precast Wall Panels: Critical Driver Shaping the Increasing Demand F …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Lightweight Precast Wall Panels Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for lightweight precast wall panels has seen significant traction. The market, which stood at $14.36 billion in 2024, is predicted to climb to $15.55 billion in 2025,…
Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Industry S …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
What Is the Long-Term Growth Forecast for the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size 2025?
The market size for corrosion under insulation (cui) & spray-on insulation (soi) coatings has seen a consistent growth in the past years. Projected to rise from $1.94 billion in 2024 to $2.03…
Comprehensive Laminated Gypsum Ceiling Tile Market Forecast 2025-2034: Growth Tr …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Laminated Gypsum Ceiling Tile Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the demand for laminated gypsum ceiling tile has seen significant growth in the market. The market, which was worth $2.25 billion in 2024, is expected to reach $2.44…
More Releases for Insurance
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…
Non-Life Insurance Market :Health Insurance, Property Insurance, Cargo Insurance …
Non-Life Insurance Market Overview:
Summary:Excellence consistency maintains by Garner Insights in Research Report in which studies the global Non-Life Insurance market status and forecast, categorizes and Equipment market value by manufacturers, type, application, and region.
Get Access to Report Sample: http://bit.ly/2Q9Hd8z
Non-Life Insurance market was valued at Million US$ in 2017 and is projected to reach Million US$ by 2025, at a CAGR of during the forecast period. In this study, 2017 has been…
