Insurtech Market Size, Share, Growth Analysis, By Type (Auto, Business), By Service (Consulting, Support & Maintenance), By Technology, By Type, By Region - Industry Forecast 2025-2032

Insurtech Market size was valued at USD 12.71 Billion in 2023 and is poised to grow from USD 19.41 Billion in 2024 to USD 375.66 Billion by 2032, growing at a CAGR of 52.7% during the forecast period (2025-2032).

Growing digital transformation of the financial services industry is slated to be the main catalyst for insurtech demand in the future. Increasing emphasis on digital transformation, growing demand for better insurance services, and rising complexity of regulatory frameworks in insurance are other factors that contribute to global insurtech market growth over the coming years. Advancements in digital technologies and high demand for personalized insurance around the world are also estimated to offer new opportunities for insurtech companies in the future. Creation of supportive regulatory infrastructure by governments and regulatory bodies to streamline insurance operations will also boost insurtech market outlook in the long run. However, high costs of implementation, complexity and variability in regulations, resistance to change from traditional insurance companies, and lack of trust in technology-based insurance are some key restraints that could slow down insurtech market growth across the forecast period and beyond.