Insurtech Market Opportunities, Key Trends, Competitive Benchmarking, Price Outlook and CAGR Forecast Through 2031

QY Research has recently published a research report titled, "Global Insurtech Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031", assessing various factors impacting its trajectory. The research study offers deep evaluation of the global Insurtech market and helps market participants to gain a strong foothold in the industry. It sheds light on critical market dynamics such as drivers, restraints, trends, and opportunities to help businesses prepare for any challenges ahead in time. It provides regional analysis of the global Insurtech market to unveil key opportunities available in different parts of the world. The competitive landscape is broadly assessed along with company profiling of leading players operating in the global Insurtech market. The report provides detailed statistics and accurate market figures, viz. market share, CAGR, gross margin, and those related to revenue, production, consumption, and sales.

The global market for Insurtech was estimated to be worth US$ 17828 million in 2024 and is forecast to a readjusted size of US$ 60523 million by 2031 with a CAGR of 18.8% during the forecast period 2025-2031.

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The Insurtech market refers to the application of digital technologies-including artificial intelligence, big data analytics, cloud computing, blockchain, and IoT-to improve or disrupt traditional insurance models across distribution, underwriting, pricing, claims processing, and customer engagement. Insurtech solutions aim to enhance efficiency, reduce operational friction, and enable more personalized and usage-based insurance products. The market spans both consumer-facing platforms (policy comparison, digital insurance sales, claims apps) and enterprise-focused systems (risk analytics, fraud detection, automated underwriting engines).

The industry value chain includes several core layers. Upstream are data providers and technology vendors, offering telematics, credit risk information, medical claims databases, and IoT sensor data that feed predictive models. Midstream participants are Insurtech platform operators, including digital brokers, automated underwriting systems, and claims automation platforms. Downstream actors include insurance carriers and reinsurers, who remain responsible for risk assumption, capital management, and regulatory compliance. Many Insurtech startups partner rather than compete directly with insurers, providing digital service layers rather than replacing underwriting capacity.

Cost structure and profitability vary by business model. Digital distribution platforms operate with relatively low variable costs but high customer acquisition expenses. Software-as-a-service (SaaS) underwriting and claims systems feature higher gross margins, generally 45-65% gross margin, supported by recurring subscription revenues and scalable cloud infrastructure. Pure risk-taking Insurtech carriers typically have lower margins due to claims volatility and regulatory capital requirements.

In transaction dynamics, partnerships and ecosystem integration are critical. Traditional insurers increasingly acquire minority stakes or form joint ventures with Insurtech startups to accelerate digital transformation while controlling risk. Meanwhile, embedded insurance models-where insurance is bundled into e-commerce, mobility, or healthcare services-are expanding rapidly, enabling seamless point-of-sale coverage activation. As a result, the Insurtech market is shifting from product-centric competition to platform-based collaboration and data-driven risk optimization.

Leading players of the global Insurtech market are analyzed taking into account their market share, recent developments, new product launches, partnerships, mergers or acquisitions, and markets served. We also provide an exhaustive analysis of their product portfolios to explore the products and applications they concentrate on when operating in the global Insurtech market. Furthermore, the report offers two separate market forecasts - one for the production side and another for the consumption side of the global Insurtech market. It also provides useful recommendations for new as well as established players of the global Insurtech market.

Key Players Mentioned in the Global Insurtech Market Research Report:

DXC Technology Company
Damco Solutions
Wipro Limited
Majesco
Octo
ControlExpert
Sureify
iSoftStone
eBaoTech
OutSystems
Corvus Insurance
Zipari
Corvus Insurance

Market Segments

Our market analysts are experts in deeply segmenting the global Insurtech market and thoroughly evaluating the growth potential of each and every segment studied in the report. Right at the beginning of the research study, the segments are compared on the basis of consumption and growth rate for a review period of nine years. The segmentation study included in the report offers a brilliant analysis of the global Insurtech market, taking into consideration the market potential of different segments studied. It assists market participants to focus on high-growth areas of the global Insurtech market and plan powerful business tactics to secure a position of strength in the industry.

Details of Insurtech Market Segmentation: -

Segment by Type:

Cloud Computing
IoT
AI
Others

Segment by Application:

Property and Casualty
Health
Life

All of the segments studied in the research study are analyzed on the basis of BPS, market share, revenue, and other important factors. Our research study shows how different segments are contributing to the growth of the global Insurtech market. It also provides information on key trends related to the segments included in the report. This helps market players to concentrate on high-growth areas of the global Insurtech market. The research study also offers separate analysis on the segments on the basis of absolute dollar opportunity.

Segment by Region

North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)

How can the research study help your business?

(1) The information presented in the Insurtech report helps your decision makers to become prudent and make the best business choices.

(2) The report enables you to see the future of the global Insurtech market and accordingly take decisions that will be in the best interest of your business.

(3) It offers you a forward-looking perspective of the global Insurtech market drivers and how you can secure significant market gains in the near future.

(4) It provides SWOT analysis of the global Insurtech market along with useful graphics and detailed statistics providing quick information about the market's overall progress throughout the forecast period.

(5) It also assesses the changing competitive dynamics of the global Insurtech market using pin-point evaluation.

Request Pre-Order Enquiry or Customized Research on This Report: https://www.qyresearch.in/pre-order-inquiry/service-software-insurtech-market-share-and-ranking-overall-sales-and-demand-forecast-2025-2031

Table of Contents

"1 Market Overview
1.1 Insurtech Product Introduction
1.2 Global Insurtech Market Size Forecast (2020-2031)
1.3 Insurtech Market Trends & Drivers
1.3.1 Insurtech Industry Trends
1.3.2 Insurtech Market Drivers & Opportunity
1.3.3 Insurtech Market Challenges
1.3.4 Insurtech Market Restraints
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Competitive Analysis by Company
2.1 Global Insurtech Players Revenue Ranking (2024)
2.2 Global Insurtech Revenue by Company (2020-2025)
2.3 Key Companies Insurtech Manufacturing Base Distribution and Headquarters
2.4 Key Companies Insurtech Product Offered
2.5 Key Companies Time to Begin Mass Production of Insurtech
2.6 Insurtech Market Competitive Analysis
2.6.1 Insurtech Market Concentration Rate (2020-2025)
2.6.2 Global 5 and 10 Largest Companies by Insurtech 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 as of 2024)
2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Technology
3.1 Introduction by Technology
3.1.1 Cloud Computing
3.1.2 IoT
3.1.3 AI
3.1.4 Others
3.2 Global Insurtech Sales Value by Technology
3.2.1 Global Insurtech Sales Value by Technology (2020 VS 2024 VS 2031)
3.2.2 Global Insurtech Sales Value, by Technology (2020-2031)
3.2.3 Global Insurtech Sales Value, by Technology (%) (2020-2031)
4 Segmentation by Customer Experience Dimension
4.1 Introduction by Customer Experience Dimension
4.1.1 Mobile-First Policy User Interfaces
4.1.2 Chatbot / Virtual Agent Customer Service
4.1.3 Personalized Product Recommendations
4.2 Global Insurtech Sales Value by Customer Experience Dimension
4.2.1 Global Insurtech Sales Value by Customer Experience Dimension (2020 VS 2024 VS 2031)
4.2.2 Global Insurtech Sales Value, by Customer Experience Dimension (2020-2031)
4.2.3 Global Insurtech Sales Value, by Customer Experience Dimension (%) (2020-2031)
5 Segmentation by Business Model Dimension
5.1 Introduction by Business Model Dimension
5.1.1 Online Insurance Distribution
5.1.2 Usage-Based Insurance (UBI)
5.1.3 Peer-to-Peer Insurance
5.1.4 Embedded Insurance
5.1.5 Claims Automation Platforms
5.2 Global Insurtech Sales Value by Business Model Dimension
5.2.1 Global Insurtech Sales Value by Business Model Dimension (2020 VS 2024 VS 2031)
5.2.2 Global Insurtech Sales Value, by Business Model Dimension (2020-2031)
5.2.3 Global Insurtech Sales Value, by Business Model Dimension (%) (2020-2031)
6 Segmentation by Ecosystem & Value Chain Dimension
6.1 Introduction by Ecosystem & Value Chain Dimension
6.1.1 Insurance Carriers
6.1.2 Reinsurers
6.1.3 Others
6.2 Global Insurtech Sales Value by Ecosystem & Value Chain Dimension
6.2.1 Global Insurtech Sales Value by Ecosystem & Value Chain Dimension (2020 VS 2024 VS 2031)
6.2.2 Global Insurtech Sales Value, by Ecosystem & Value Chain Dimension (2020-2031)
6.2.3 Global Insurtech Sales Value, by Ecosystem & Value Chain Dimension (%) (2020-2031)
7 Segmentation by Application
7.1 Introduction by Application
7.1.1 Property and Casualty
7.1.2 Health
7.1.3 Life
7.2 Global Insurtech Sales Value by Application
7.2.1 Global Insurtech Sales Value by Application (2020 VS 2024 VS 2031)
7.2.2 Global Insurtech Sales Value, by Application (2020-2031)
7.2.3 Global Insurtech Sales Value, by Application (%) (2020-2031)
8 Segmentation by Region
8.1 Global Insurtech Sales Value by Region
8.1.1 Global Insurtech Sales Value by Region: 2020 VS 2024 VS 2031
8.1.2 Global Insurtech Sales Value by Region (2020-2025)
8.1.3 Global Insurtech Sales Value by Region (2026-2031)
8.1.4 Global Insurtech Sales Value by Region (%), (2020-2031)
8.2 North America
8.2.1 North America Insurtech Sales Value, 2020-2031
8.2.2 North America Insurtech Sales Value by Country (%), 2024 VS 2031
8.3 Europe
8.3.1 Europe Insurtech Sales Value, 2020-2031
8.3.2 Europe Insurtech Sales Value by Country (%), 2024 VS 2031
8.4 Asia Pacific
8.4.1 Asia Pacific Insurtech Sales Value, 2020-2031
8.4.2 Asia Pacific Insurtech Sales Value by Region (%), 2024 VS 2031
8.5 South America
8.5.1 South America Insurtech Sales Value, 2020-2031
8.5.2 South America Insurtech Sales Value by Country (%), 2024 VS 2031
8.6 Middle East & Africa
8.6.1 Middle East & Africa Insurtech Sales Value, 2020-2031
8.6.2 Middle East & Africa Insurtech Sales Value by Country (%), 2024 VS 2031
9 Segmentation by Key Countries/Regions
9.1 Key Countries/Regions Insurtech Sales Value Growth Trends, 2020 VS 2024 VS 2031
9.2 Key Countries/Regions Insurtech Sales Value, 2020-2031
9.3 United States
9.3.1 United States Insurtech Sales Value, 2020-2031
9.3.2 United States Insurtech Sales Value by Technology (%), 2024 VS 2031
9.3.3 United States Insurtech Sales Value by Application, 2024 VS 2031
9.4 Europe
9.4.1 Europe Insurtech Sales Value, 2020-2031
9.4.2 Europe Insurtech Sales Value by Technology (%), 2024 VS 2031
9.4.3 Europe Insurtech Sales Value by Application, 2024 VS 2031
9.5 China
9.5.1 China Insurtech Sales Value, 2020-2031
9.5.2 China Insurtech Sales Value by Technology (%), 2024 VS 2031
9.5.3 China Insurtech Sales Value by Application, 2024 VS 2031
9.6 Japan
9.6.1 Japan Insurtech Sales Value, 2020-2031
9.6.2 Japan Insurtech Sales Value by Technology (%), 2024 VS 2031
9.6.3 Japan Insurtech Sales Value by Application, 2024 VS 2031
9.7 South Korea
9.7.1 South Korea Insurtech Sales Value, 2020-2031
9.7.2 South Korea Insurtech Sales Value by Technology (%), 2024 VS 2031
9.7.3 South Korea Insurtech Sales Value by Application, 2024 VS 2031
9.8 Southeast Asia
9.8.1 Southeast Asia Insurtech Sales Value, 2020-2031
9.8.2 Southeast Asia Insurtech Sales Value by Technology (%), 2024 VS 2031
9.8.3 Southeast Asia Insurtech Sales Value by Application, 2024 VS 2031
9.9 India
9.9.1 India Insurtech Sales Value, 2020-2031
9.9.2 India Insurtech Sales Value by Technology (%), 2024 VS 2031
9.9.3 India Insurtech Sales Value by Application, 2024 VS 2031
10 Company Profiles
10.1 DXC Technology Company
10.1.1 DXC Technology Company Profile
10.1.2 DXC Technology Company Main Business
10.1.3 DXC Technology Company Insurtech Products, Services and Solutions
10.1.4 DXC Technology Company Insurtech Revenue (US$ Million) & (2020-2025)
10.1.5 DXC Technology Company Recent Developments
10.2 Damco Solutions
10.2.1 Damco Solutions Profile
10.2.2 Damco Solutions Main Business
10.2.3 Damco Solutions Insurtech Products, Services and Solutions
10.2.4 Damco Solutions Insurtech Revenue (US$ Million) & (2020-2025)
10.2.5 Damco Solutions Recent Developments
10.3 Wipro Limited
10.3.1 Wipro Limited Profile
10.3.2 Wipro Limited Main Business
10.3.3 Wipro Limited Insurtech Products, Services and Solutions
10.3.4 Wipro Limited Insurtech Revenue (US$ Million) & (2020-2025)
10.3.5 Wipro Limited Recent Developments
10.4 Majesco
10.4.1 Majesco Profile
10.4.2 Majesco Main Business
10.4.3 Majesco Insurtech Products, Services and Solutions
10.4.4 Majesco Insurtech Revenue (US$ Million) & (2020-2025)
10.4.5 Majesco Recent Developments
10.5 Octo
10.5.1 Octo Profile
10.5.2 Octo Main Business
10.5.3 Octo Insurtech Products, Services and Solutions
10.5.4 Octo Insurtech Revenue (US$ Million) & (2020-2025)
10.5.5 Octo Recent Developments
10.6 ControlExpert
10.6.1 ControlExpert Profile
10.6.2 ControlExpert Main Business
10.6.3 ControlExpert Insurtech Products, Services and Solutions
10.6.4 ControlExpert Insurtech Revenue (US$ Million) & (2020-2025)
10.6.5 ControlExpert Recent Developments
10.7 Sureify
10.7.1 Sureify Profile
10.7.2 Sureify Main Business
10.7.3 Sureify Insurtech Products, Services and Solutions
10.7.4 Sureify Insurtech Revenue (US$ Million) & (2020-2025)
10.7.5 Sureify Recent Developments
10.8 iSoftStone
10.8.1 iSoftStone Profile
10.8.2 iSoftStone Main Business
10.8.3 iSoftStone Insurtech Products, Services and Solutions
10.8.4 iSoftStone Insurtech Revenue (US$ Million) & (2020-2025)
10.8.5 iSoftStone Recent Developments
10.9 eBaoTech
10.9.1 eBaoTech Profile
10.9.2 eBaoTech Main Business
10.9.3 eBaoTech Insurtech Products, Services and Solutions
10.9.4 eBaoTech Insurtech Revenue (US$ Million) & (2020-2025)
10.9.5 eBaoTech Recent Developments
10.10 OutSystems
10.10.1 OutSystems Profile
10.10.2 OutSystems Main Business
10.10.3 OutSystems Insurtech Products, Services and Solutions
10.10.4 OutSystems Insurtech Revenue (US$ Million) & (2020-2025)
10.10.5 OutSystems Recent Developments
10.11 Corvus Insurance
10.11.1 Corvus Insurance Profile
10.11.2 Corvus Insurance Main Business
10.11.3 Corvus Insurance Insurtech Products, Services and Solutions
10.11.4 Corvus Insurance Insurtech Revenue (US$ Million) & (2020-2025)
10.11.5 Corvus Insurance Recent Developments
10.12 Zipari
10.12.1 Zipari Profile
10.12.2 Zipari Main Business
10.12.3 Zipari Insurtech Products, Services and Solutions
10.12.4 Zipari Insurtech Revenue (US$ Million) & (2020-2025)
10.12.5 Zipari Recent Developments
10.13 Corvus Insurance
10.13.1 Corvus Insurance Profile
10.13.2 Corvus Insurance Main Business
10.13.3 Corvus Insurance Insurtech Products, Services and Solutions
10.13.4 Corvus Insurance Insurtech Revenue (US$ Million) & (2020-2025)
10.13.5 Corvus Insurance Recent Developments
11 Industry Chain Analysis
11.1 Insurtech Industrial Chain
11.2 Insurtech Upstream Analysis
11.2.1 Key Raw Materials
11.2.2 Raw Materials Key Suppliers
11.2.3 Manufacturing Cost Structure
11.3 Midstream Analysis
11.4 Downstream Analysis (Customers Analysis)
11.5 Sales Model and Sales Channels
11.5.1 Insurtech Sales Model
11.5.2 Sales Channel
11.5.3 Insurtech Distributors
12 Research Findings and Conclusion
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.1.1 Research Programs/Design
13.1.1.2 Market Size Estimation
13.1.1.3 Market Breakdown and Data Triangulation
13.1.2 Data Source
13.1.2.1 Secondary Sources
13.1.2.2 Primary Sources
13.2 Author Details
13.3 Disclaimer

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