PUBLISHER: Roots Analysis | PRODUCT CODE: 1921893
PUBLISHER: Roots Analysis | PRODUCT CODE: 1921893
As per Roots Analysis, the global insurtech market size is estimated to grow from USD 14 billion in the current year USD 638 billion by 2035, at a CAGR of 41.45% during the forecast period, till 2035.

The opportunity for insurtech market has been distributed across the following segments:
Type of Insurtech
Type of Service
Type of Technology
End User
Type of Enterprise
Geographical Regions
Insurtech Market: Growth and Trends
Insurtech integrates insurance with advanced technology to enhance efficiency, speed, and cost-effectiveness. Emerging technologies such as artificial intelligence, blockchain, cloud computing, and machine learning are helping insurers to accelerate claims processing, personalize policy offerings, enhance underwriting accuracy, and automate repetitive administrative tasks. This wave of digital transformation enables insurers to cut costs while improving service quality for both individuals and enterprises.
Collaborations between traditional insurers and insurtech startups are fueling innovation in this domain. Notably, startups are contributing agility and fresh ideas, while established insurers are offering scale and market experience. Additionally, increasing cloud adoption is supporting the deployment of flexible and scalable insurance solutions. The rising adoption of AI-driven solutions across various industries is propelling the growth of insurtech market. As insurers modernize their operations, technology has become a key enabler in enhancing customer experiences and optimizing risk evaluation.
Insurtech Market: Key Segments
Based on type of insurtech, the global insurtech market is segmented into health, auto, travel, business, home, specialty, and others. According to our estimates, currently, the health segment captures the majority of the market share and this trend is unlikely to change in future. This can be attributed to the growing demand for personalized health plans, simplified claims processes, and quicker approvals.
Based on type of service, the global insurtech market is segmented into managed services, support & maintenance, and consulting. According to our estimates, currently, the managed services captures the majority of the market share. This can be attributed to the fact that it helps insurers enhance operations, ensure compliance, and implement industry best practices. However, the support and maintenance services segment is expected to grow at a higher CAGR during the forecast period, driven by the ongoing need for system updates and technical support to maintain seamless digital operations.
Based on type of technology, the global insurtech market is segmented into cloud computing, blockchain, IoT, machine learning, and robo-advisors. According to our estimates, currently, the cloud computing segment captures the majority of the market share. This growth is primarily attributed to its cost efficiency, scalability, and capability to provide remote access and real-time updates.
Based on end user, the global insurtech market is segmented into BFSI, healthcare, automotive, government, retail, manufacturing, and transportation. According to our estimates, currently, the BFSI sector captures the majority of the market share. However, the healthcare sector is expected to grow at a higher CAGR during the forecast period. This can be attributed to the escalating medical expenses and the prevalence of chronic diseases that is driving the need for more effective insurance solutions.
Based on type of enterprise, the global insurtech market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprises capture the majority of the market share. This trend is largely due to their ability to invest in cutting-edge insurtech technologies, leverage significant resources, achieve economies of scale, and facilitate business expansion.
Based on geographical regions, the insurtech market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently North America captures the majority share of the market. This can be attributed to robust digital infrastructure, early fintech adoption, and a well-established insurance sector. However, the market in Asia is expected to grow at a higher CAGR during the forecast period. This can be attributed to a significant population that is tech-savvy and low levels of insurance coverage in nations like India and China.
Insurtech Market: Research Coverage
The report on the insurtech market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits