Brazil Insurance Software Market Size, Share, Trends and Forecast by Type, Deployment Mode, End User, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A43028

Brazil Insurance Software Market Overview:

The Brazil insurance software market size reached USD 85.84 Million in 2024. The market is projected to reach USD 136.86 Million by 2033, exhibiting a growth rate (CAGR) of 5.32% during 2025-2033. The market is driven by the rapid adoption of artificial intelligence and digital transformation technologies enhancing underwriting and claims processing, ongoing regulatory modernization including SUSEP's sandbox programs enabling innovative solutions, and the widespread migration to cloud-based platforms with API-driven integration capabilities. Additionally, the growing emphasis on fraud prevention through advanced analytics and the increasing demand for automated business processes are supporting the Brazil insurance software market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 85.84 Million
Market Forecast in 2033	USD 136.86 Million
Market Growth Rate 2025-2033	5.32%

Brazil Insurance Software Market Trends:

Integration of AI and Automation

The integration of artificial intelligence (AI) and automation is transforming the insurance software landscape in Brazil. Insurers are increasingly utilizing AI-driven tools and machine learning algorithms to improve decision-making in areas like underwriting, claims evaluation, and fraud detection. In September 2025, Brazil's insurtech 180° Insurance secured USD 9.2 Million in a pre-Series B funding round led by investors including 8VC and Monashees. The company aims to enhance its AI-driven insurance offerings and accelerate adoption in Brazil where insurance penetration remains low. They plan to expand AI capabilities in customer interactions. Robotic process automation (RPA) is simplifying repetitive tasks such as document verification policy updates, and payment processing which minimizes manual errors and reduces operational costs. Additionally, AI-powered analytics allows insurers to provide personalized policies that reflect customer behavior, risk profiles, and preferences. This approach enhances efficiency while also boosting customer satisfaction and retention. The rising dependence on automation facilitates real-time risk monitoring and predictive modeling which are essential in a competitive environment. As insurers keep investing in cutting-edge technologies the integration of AI and automation will remain a central driver of Brazil insurance software market growth.

Expansion of InsurTech Collaborations

The Brazil insurance software market is experiencing a significant transformation through increasing partnerships between traditional insurers and InsurTech companies. In July 2025, i4pro, a Brazilian insurance policy administration software provider, was acquired by Banyan Software. This partnership aims to foster innovation and growth while maintaining i4pro's operational independence. The acquisition enhances Banyan's international presence and commitment to supporting software companies in key markets across Latin America. These collaborations are driving digital evolution by introducing innovative platforms, mobile-centric solutions, and data-driven tools that improve product creation and distribution. InsurTech startups provide agility and advanced technological capabilities, while established insurers bring scale, regulatory expertise, and market penetration. Together, they facilitate quicker claims processing, smooth digital onboarding, and more tailored policy offerings to address changing customer demands. Moreover, partnerships are promoting the adoption of blockchain, telematics, and digital ecosystems that widen access to underserved demographics. This alliance is enhancing operational efficiency and generating new revenue opportunities for insurers. Given the rising interest in digital-first insurance solutions, the growth of InsurTech partnerships is poised to play a crucial role in the evolution of Brazil’s insurance software market.

Brazil Insurance Software Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, deployment mode, and end user.

Type Insights:

Life Insurance
Accident and Health Insurance
Property and Casualty Insurance
Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes life insurance, accident and health insurance, property and casualty insurance, and others.

Deployment Mode Insights:

Cloud-Based
On-Premises

A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes cloud-based and on-premises.

End User Insights:

Brokers
Agencies
Insurance Companies

The report has provided a detailed breakup and analysis of the market based on the end user. This includes brokers, agencies, and insurance companies.

Regional Insights:

Southeast
South
Northeast
North
Central-West

The report has also provided a comprehensive analysis of all the major regional markets, which include Southeast, South, Northeast, North, and Central-West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Brazil Insurance Software Market News:

In July 2025, Qorus and NTT DATA announced the winners of the tenth Innovation in Insurance Awards, highlighting innovative uses of generative AI and technology in the industry. Ping An (China) was named Global Innovator of the Year, with notable awards given to Generali, Discovery, Topdanmark, Sabadell Seguros, and others.
In August 2025, Acrisure officially rebranded its Brazilian subsidiary, It’sSeg. Under CEO Thomaz Menezes, the company aims to expand its local presence by investing in technology and talent. Acrisure serves 1,500 corporate clients and insures 2.1 million people in Brazil.

Brazil Insurance Software Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Type Deployment Mode End User Region
Types Covered	Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, Others
Deployment Modes Covered	Cloud-Based, On-Premises
End Users Covered	Brokers, Agencies, Insurance Companies
Regions Covered	Southeast, South, Northeast, North, Central-West
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the Brazil insurance software market performed so far and how will it perform in the coming years?
What is the breakup of the Brazil insurance software market on the basis of type?
What is the breakup of the Brazil insurance software market on the basis of deployment mode?
What is the breakup of the Brazil insurance software market on the basis of end user?
What is the breakup of the Brazil insurance software market on the basis of region?
What are the various stages in the value chain of the Brazil insurance software market?
What are the key driving factors and challenges in the Brazil insurance software market?
What is the structure of the Brazil insurance software market and who are the key players?
What is the degree of competition in the Brazil insurance software market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Brazil insurance software market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the Brazil insurance software market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Brazil insurance software industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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