Global Generative AI in Insurance Market Size, Share, Growth Analysis, By Deployment (Cloud-based, On-premises), By Technology (Machine Learning, Natural Language Processing), By Application (Fraud Detection and Credit Analysis, Customer Profiling and Segmentation,), By Region -Industry Forecast 2025-2032

North America is forecasted to account for a high share of the global generative AI in insurance industry going forward. The presence of leading insurance companies, rapid adoption of advanced technologies, and growing digitization of the financial services industry are slated to bolster the demand for generative AI in insurance in North America. Growing emphasis on providing personalized and custom insurance services is also expected to bolster the adoption of generative AI models in insurance companies of this region. The United States is slated to lead revenue generation in this region followed by Canada in the long run.

Asia Pacific is forecasted to emerge as the fastest expanding market for generative AI in insurance in the world. Growing need for insurance policies in this region, rising demand for cost-effective insurance policies, and increasing adoption of generative AI are all expected to create new opportunities for market players in this region. The launch of new digital transformation initiatives by governments and rise of digital finance and banking are also slated to benefit market growth going forward. India, China, and Japan are forecasted to emerge as the most opportune markets in this region through 2031.