PUBLISHER: The Business Research Company | PRODUCT CODE: 1975795
PUBLISHER: The Business Research Company | PRODUCT CODE: 1975795
Insurance analytics involves the collection, analysis, and extraction of relevant insights from diverse data sources to effectively manage risks and optimize insurance contracts in fields such as health, life, property, or casualty. This process is crucial for generating leads, enhancing customer satisfaction, accurately assessing risk for underwriting, and facilitating overall business growth. Insurance analytics is instrumental in tasks such as detecting fraudulent claims, real-time risk mitigation, influencing customer behavior, and predicting lifetime value.
The primary components in the insurance analytics market are solutions and services. Solutions encompass the processes of collecting, analyzing, and extracting insights from various data sources. Applications of insurance analytics include claims management, risk management, customer management and personalization, process optimization, and other relevant areas. Various end-users of insurance analytics include insurance companies, government agencies, third-party administrators, brokers, and consultancies.
Tariffs are influencing the insurance analytics market by increasing costs of imported servers, analytics hardware, cybersecurity infrastructure, and advanced data management systems used by insurers. North America and Europe are most affected due to reliance on imported IT infrastructure, while Asia-Pacific faces higher costs for analytics platform deployment and scaling. These tariffs are raising technology investment costs and delaying analytics modernization initiatives. However, they are also driving greater adoption of cloud-native analytics solutions, regional data center expansion, and optimized software-based insurance analytics platforms.
The insurance analytics market research report is one of a series of new reports from The Business Research Company that provides insurance analytics market statistics, including insurance analytics industry global market size, regional shares, competitors with a insurance analytics market share, detailed insurance analytics market segments, market trends and opportunities, and any further data you may need to thrive in the insurance analytics industry. This insurance analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The insurance analytics market size has grown rapidly in recent years. It will grow from $16.62 billion in 2025 to $19.62 billion in 2026 at a compound annual growth rate (CAGR) of 18.0%. The growth in the historic period can be attributed to increasing digitization of insurance operations, rising complexity of insurance products, expansion of customer data sources, growing focus on underwriting accuracy, adoption of analytics-driven decision tools.
The insurance analytics market size is expected to see rapid growth in the next few years. It will grow to $38.03 billion in 2030 at a compound annual growth rate (CAGR) of 18.0%. The growth in the forecast period can be attributed to increasing deployment of ai-based insurance analytics, rising demand for personalized insurance offerings, expansion of cloud-based analytics platforms, growing focus on real-time risk monitoring, increasing investments in advanced insurance data ecosystems. Major trends in the forecast period include increasing use of predictive risk analytics, rising adoption of fraud detection models, growing focus on customer behavior analytics, expansion of real-time claims analytics, enhanced integration of advanced data platforms.
The rise in insurance fraud is expected to propel the growth of the insurance analytics market. Insurance fraud involves the intentional deception of an insurer for financial gain through false claims or misrepresented information. The increase in insurance fraud is driven by the growing complexity of fraud schemes and the expansion of digital channels, which enable deceit across the insurance value chain. The insurance analytics market addresses this challenge by enabling insurers to deploy advanced analytics and real-time monitoring tools that detect, investigate, and mitigate fraudulent activity more effectively. For instance, in September 2024, according to the Association of British Insurers, a UK-based non-profit organization, insurers detected 84,400 fraudulent claims in 2023, a 16% increase compared to 2022. Therefore, the increase in insurance fraud is driving the growth of the insurance analytics market.
Major companies operating in the insurance analytics market are focusing on developing advanced solutions, such as data visualization, to enhance decision-making, streamline operations, and improve risk assessment. Data visualization refers to technology that presents complex data in visual formats, such as graphs and charts, enabling users to interpret information more easily and derive actionable insights. For instance, in May 2024, Aon plc, a UK-based management consulting company, launched Aon's Property Risk Analyzer, a comprehensive risk assessment tool that provides exposure visualization, loss modeling, and testing of insurance structures to help clients make better risk management decisions and explore various insurance and risk financing options. The solution is designed to enhance data quality and enable a more strategic approach to managing property risks, supporting improved operational efficiency and informed decision-making across global insurance operations.
In November 2023, Accenture, an Ireland-based information technology (IT) and consulting company, acquired Ocelot Consulting for an undisclosed amount. Through this acquisition, Accenture aims to expand its cloud-first and data engineering capabilities across North America, helping clients accelerate their cloud transformation with enterprise-scale data platforms, modern analytics, and AI-driven business reinvention. Ocelot Consulting is a US-based company with approximately 100 technologists experienced across utilities, financial services, agriculture, and consumer goods.
Major companies operating in the insurance analytics market are Applied Systems Inc.; Microsoft Corporation; Open Text Corporation; Oracle Corporation; Pegasystems Inc.; Verisk Analytics Inc.; SAS Institute Inc.; International Business Machines Corporation (IBM); Guidewide LLC; Sapiens International Corporation N. V.; Duck Creek Technologies LLC; LexisNexis Risk Solutions Group Holdings Pty Ltd; Munich Reinsurance America Inc.; Fair Isaac Corporation (FICO); Insurity Inc.; Xactware Solutions Inc.; Salesforce. com Inc.; Cognizant Technology Solutions Corporation; Milliman Inc.; Symbility Solutions Inc.; RiskMatch LLC; Tiger Analytics Inc.; WNS Global Services Inc.; Shift Technology SAS; Cover-All Technologies Inc.; SAP SE; Octo Telematics Ltd.; EagleEye Analytics LLC; Metromile Inc.; Slice Labs Inc.; Zesty. AI
North America was the largest region in the insurance analytics market in 2025.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insurance analytics market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the insurance analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The insurance analytics market consists of revenues earned by entities by providing insurance analytics tools such as policy manipulation and fraud detection. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Insurance Analytics Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses insurance analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for insurance analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The insurance analytics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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