A rise in global insurance claims and streamlining claims procedures will help push the insurtech market to $20.26 billion in 2025, according to Market Research Future.
The sector is also predicted to reach 958.85 billion by 2034, the data showed, at a compound annual growth rate of 53.5%. More than 45.80% of global revenue for insurtech was generated in North America.
With more revenue pouring into rising insurtech’s, AI and automated services, the top insurers suffered a higher rate of breaches than all of the S&P 500 (21%) companies combined. Breaches at the top insurance companies also outpaced the U.S. energy industry (14%).
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
