US Insurtech Market Report by Type (Auto, Business, Health, Home, Specialty, Travel, and Others), Service (Consulting, Support and Maintenance, Managed Services), Technology (Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, and Others), and Region 2024-2032

US Insurtech Market Report by Type (Auto, Business, Health, Home, Specialty, Travel, and Others), Service (Consulting, Support and Maintenance, Managed Services), Technology (Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, and Others), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A22150
Buy Now

Market Overview:

US insurtech market size is projected to exhibit a growth rate (CAGR) of 6.50% during ​2024-2032​. The rapid evolution of technology, particularly in areas such as artificial intelligence, machine learning, blockchain, and data analytics, which has enabled innovative solutions in the insurance sector, is primarily driving the regional market.

Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate (2024-2032) 6.50%


Insurtech, short for insurance technology, refers to the innovative use of technology to enhance and streamline the insurance industry. This rapidly evolving sector leverages advancements such as artificial intelligence, big data analytics, blockchain, and digital platforms to improve various aspects of the insurance lifecycle. Insurtech aims to enhance customer experiences by simplifying the purchase process, optimizing underwriting through data analysis, and expediting claims processing. Additionally, it fosters the development of new insurance models, such as usage-based policies and peer-to-peer insurance. By embracing digital solutions, insurtech not only increases operational efficiency but also fosters greater accessibility and affordability of insurance products, ultimately reshaping and modernizing the traditional insurance landscape.

US Insurtech Market Trends:

The insurtech market in the US is experiencing robust growth, driven by a confluence of factors that underscore its dynamism and adaptability. Primarily, technological advancements have served as a catalyst, reshaping the insurance landscape. With the rise of artificial intelligence and machine learning, insurers can now analyze vast datasets to enhance underwriting accuracy and assess risk more effectively. Furthermore, the increasing prevalence of connected devices and the Internet of Things (IoT) has enabled insurers to gather real-time data, fostering a more personalized and proactive approach to risk management. In addition to technological progress, shifting consumer expectations are steering the insurtech market forward. Modern consumers seek seamless digital experiences and demand more customized insurance solutions tailored to their specific needs. This changing consumer behavior is prompting traditional insurers to collaborate with insurtech startups or invest heavily in technology to stay competitive. Regulatory support is another critical driver propelling the insurtech sector. Governments in the US are recognizing the potential of technology to streamline processes, reduce fraud, and enhance overall efficiency within the insurance industry. Consequently, regulatory frameworks are evolving to accommodate and encourage innovation, fostering a conducive environment for insurtech companies to thrive. In summary, the insurtech market in the US is thriving on the synergistic forces of technological innovation, evolving consumer preferences, and supportive regulatory frameworks.

US Insurtech Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on type, service, and technology.

Type Insights:

  • Auto
  • Business
  • Health
  • Home
  • Specialty
  • Travel
  • Others
     

The report has provided a detailed breakup and analysis of the market based on the type. This auto, business, health, home, specialty, travel, and others.

Service Insights:

  • Consulting
  • Support and Maintenance
  • Managed Services
     

A detailed breakup and analysis of the market based on the service have also been provided in the report. This includes consulting, support and maintenance, and managed services.

Technology Insights:

  • Blockchain
  • Cloud Computing
  • IoT
  • Machine Learning
  • Robo Advisory
  • Others
     

The report has provided a detailed breakup and analysis of the market based on the technology. This includes blockchain, cloud computing, IoT, machine learning, robo advisory, and others.

Regional Insights:

  • Northeast
  • Midwest
  • South
  • West
     

The report has also provided a comprehensive analysis of all the major regional markets, which include Northeast, Midwest, South, and 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.

US Insurtech Market Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Scope of the Report Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
  • Type
  • Service
  • Technology
  • Region 
Types Covered Auto, Business, Health, Home, Specialty, Travel, Others
Services Covered Consulting, Support and Maintenance, Managed Services
Technologies Covered Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, Others
Regions Covered Northeast, Midwest, South, 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 US insurtech market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the US insurtech market?
  • What is the breakup of the US insurtech market on the basis of type?
  • What is the breakup of the US insurtech market on the basis of service?
  • What is the breakup of the US insurtech market on the basis of technology?
  • What are the various stages in the value chain of the US insurtech market? 
  • What are the key driving factors and challenges in the US insurtech?
  • What is the structure of the US insurtech market and who are the key players?
  • What is the degree of competition in the US insurtech 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 US insurtech market from 2018-2032.
  • The research report provides the latest information on the market drivers, challenges, and opportunities in the US insurtech 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 US insurtech 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.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
US Insurtech Market Report by Type (Auto, Business, Health, Home, Specialty, Travel, and Others), Service (Consulting, Support and Maintenance, Managed Services), Technology (Blockchain, Cloud Computing, IoT, Machine Learning, Robo Advisory, and Others), and Region 2024-2032
Purchase options




Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More