- The integration of blockchain technology is also making significant strides in the insurtech sector. Blockchain offers a secure and transparent method for managing insurance transactions, reducing the risk of fraud, and ensuring data integrity
- This technology facilitates efficient contract management, claims processing, and regulatory compliance, contributing to increased trust and reliability in insurance operations
- North America dominated the global Insurtech market, accounting for the largest revenue share of 43.5% in 2024, driven by advanced digital infrastructure, high insurance penetration rates, and increased demand for personalized, tech-driven insurance solutions
- Asia-Pacific Insurtech market is anticipated to grow at the fastest CAGR of 16.7% during the forecast period of 2025 to 2032, propelled by rapid urbanization, increased smartphone penetration, and a rising middle-class population across countries such as China, India, Japan, and Southeast Asian nations
- The AI segment dominated the Insurtech market with the largest market revenue share of 48.6% in 2024, driven by its ability to automate claims processing, personalize insurance offerings, and enhance fraud detection
