Global Insurance Analytics
Market Report
2025
The global Insurance Analytics market size is USD 13.5 billion in 2024. The Insurance Analytics market will show strongest growth with a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031. The market's expansion is ascribed to the insurance industry's adoption of sophisticated analytical tools and the growing use of data-driven decision-making tools.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Insurance Analytics market size is USD 13.5 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 16.7% from 2024 to 2031.
2021 | 2025 | 2033 | CAGR | |
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Global Insurance Analytics Market Sales Revenue | $ 9333.84 Million | $ 15751.6 Million | $ 44859.2 Million | 13.977% |
North America Insurance Analytics Market Sales Revenue | $ 2977.49 Million | $ 4944.73 Million | $ 13637.2 Million | 13.52% |
United States Insurance Analytics Market Sales Revenue | $ 2307.56 Million | $ 3792.19 Million | $ 10241.5 Million | 13.223% |
Canada Insurance Analytics Market Sales Revenue | $ 479.377 Million | $ 841.287 Million | $ 2591.07 Million | 15.098% |
Mexico Insurance Analytics Market Sales Revenue | $ 190.56 Million | $ 311.25 Million | $ 804.595 Million | 12.605% |
Europe Insurance Analytics Market Sales Revenue | $ 2706.81 Million | $ 4683.16 Million | $ 14018.5 Million | 14.689% |
United Kingdom Insurance Analytics Market Sales Revenue | $ 346.472 Million | $ 581.757 Million | $ 1640.17 Million | 13.833% |
Germany Insurance Analytics Market Sales Revenue | $ 511.588 Million | $ 878.829 Million | $ 2593.42 Million | 14.484% |
France Insurance Analytics Market Sales Revenue | $ 397.901 Million | $ 693.077 Million | $ 2102.77 Million | 14.882% |
Italy Insurance Analytics Market Sales Revenue | $ 292.336 Million | $ 516.481 Million | $ 1612.13 Million | 15.29% |
Russia Insurance Analytics Market Sales Revenue | $ 270.681 Million | $ 486.346 Million | $ 1570.07 Million | 15.777% |
Spain Insurance Analytics Market Sales Revenue | $ 208.425 Million | $ 372.683 Million | $ 1191.57 Million | 15.637% |
Sweden Insurance Analytics Market Sales Revenue | $ 165.116 Million | $ 279.287 Million | $ 799.055 Million | 14.042% |
Denmark Insurance Analytics Market Sales Revenue | $ 92.032 Million | $ 154.399 Million | $ 434.574 Million | 13.809% |
Switzerland Insurance Analytics Market Sales Revenue | $ 192.184 Million | $ 335.598 Million | $ 1023.35 Million | 14.954% |
Luxembourg Insurance Analytics Market Sales Revenue | $ 113.686 Million | $ 190.406 Million | $ 534.105 Million | 13.761% |
Rest of Europe Insurance Analytics Market Sales Revenue | $ 116.393 Million | $ 194.301 Million | $ 517.283 Million | 13.02% |
Asia Pacific Insurance Analytics Market Sales Revenue | $ 2454.8 Million | $ 4056.89 Million | $ 11080.2 Million | 13.382% |
China Insurance Analytics Market Sales Revenue | $ 753.623 Million | $ 1230.41 Million | $ 3279.75 Million | 13.038% |
Japan Insurance Analytics Market Sales Revenue | $ 468.867 Million | $ 755.452 Million | $ 1961.2 Million | 12.665% |
India Insurance Analytics Market Sales Revenue | $ 390.313 Million | $ 689.274 Million | $ 2149.56 Million | 15.278% |
South Korea Insurance Analytics Market Sales Revenue | $ 255.299 Million | $ 415.044 Million | $ 1096.94 Million | 12.917% |
Australia Insurance Analytics Market Sales Revenue | $ 213.568 Million | $ 358.278 Million | $ 1008.3 Million | 13.808% |
Singapore Insurance Analytics Market Sales Revenue | $ 143.36 Million | $ 241.564 Million | $ 685.866 Million | 13.933% |
South East Asia Insurance Analytics Market Sales Revenue | $ 90.828 Million | $ 145.214 Million | $ 371.188 Million | 12.447% |
Taiwan Insurance Analytics Market Sales Revenue | $ 76.099 Million | $ 122.288 Million | $ 315.786 Million | 12.59% |
Rest of APAC Insurance Analytics Market Sales Revenue | $ 62.843 Million | $ 99.369 Million | $ 211.632 Million | 9.911% |
South America Insurance Analytics Market Sales Revenue | $ 644.035 Million | $ 1104.93 Million | $ 3252.29 Million | 14.448% |
Brazil Insurance Analytics Market Sales Revenue | $ 263.41 Million | $ 450.069 Million | $ 1313.93 Million | 14.33% |
Argentina Insurance Analytics Market Sales Revenue | $ 148.772 Million | $ 259.941 Million | $ 793.559 Million | 14.971% |
Colombia Insurance Analytics Market Sales Revenue | $ 101.757 Million | $ 177.833 Million | $ 543.133 Million | 14.977% |
Peru Insurance Analytics Market Sales Revenue | $ 59.251 Million | $ 99.969 Million | $ 284.576 Million | 13.97% |
Chile Insurance Analytics Market Sales Revenue | $ 43.794 Million | $ 74.014 Million | $ 211.399 Million | 14.018% |
Rest of South America Insurance Analytics Market Sales Revenue | $ 27.049 Million | $ 43.108 Million | $ 105.7 Million | 11.864% |
Middle East Insurance Analytics Market Sales Revenue | $ 345.352 Million | $ 598.152 Million | $ 1794.37 Million | 14.72% |
Saudi Arabia Insurance Analytics Market Sales Revenue | $ 106.714 Million | $ 183.827 Million | $ 545.488 Million | 14.564% |
Turkey Insurance Analytics Market Sales Revenue | $ 64.235 Million | $ 110.736 Million | $ 329.087 Million | 14.585% |
UAE Insurance Analytics Market Sales Revenue | $ 59.401 Million | $ 106.91 Million | $ 346.313 Million | 15.826% |
Egypt Insurance Analytics Market Sales Revenue | $ 45.241 Million | $ 78.656 Million | $ 250.315 Million | 15.57% |
Qatar Insurance Analytics Market Sales Revenue | $ 35.571 Million | $ 60.596 Million | $ 175.848 Million | 14.245% |
Rest of Middle East Insurance Analytics Market Sales Revenue | $ 34.19 Million | $ 57.428 Million | $ 147.317 Million | 12.497% |
Africa Insurance Analytics Market Sales Revenue | $ 205.344 Million | $ 363.707 Million | $ 1076.62 Million | 14.529% |
Nigeria Insurance Analytics Market Sales Revenue | $ 89.736 Million | $ 156.852 Million | $ 452.181 Million | 14.151% |
South Africa Insurance Analytics Market Sales Revenue | $ 78.852 Million | $ 142.234 Million | $ 436.677 Million | 15.052% |
Rest of Africa Insurance Analytics Market Sales Revenue | $ 36.757 Million | $ 64.621 Million | $ 187.763 Million | 14.263% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Component |
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Market Split by Deployment |
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Market Split by Enterprise Size |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Market Drivers:
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Market Restrains:
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Report scope is customizable as we have a huge database of Insurance Analytics industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Insurance Analytics Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The term "insurance analytics" describes the process of utilizing statistical models and data analysis tools to help the insurance business make well-informed decisions. Insurance firms can learn a great deal about their customers' behavior, risk assessment, and claims handling with the use of this strategy. Insurance companies can spot patterns and trends using data analysis that may not be visible using more conventional techniques. The increasing requirement for regulatory compliance primarily drives the global market. In order to guarantee consumer safety, financial stability, and data integrity in the insurance industry, governmental agencies and international organizations are always updating and enacting new legislation. This is pushing insurance businesses to use cutting-edge analytics tools in order to manage risk and guarantee compliance effectively. Consequently, this has a favorable impact on the market.
Market Dynamics of Insurance Analytics Market
Key Drivers for the Insurance Analytics Market
One important market driver for insurance analytics is the growing importance of data in corporate strategy. Insurance firms that use data-driven insights to inform their decisions have a significant advantage over those that only use conventional techniques. Insurance companies may analyze enormous volumes of data using analytics to gain a deeper understanding of client behavior, preferences, and risk profiles. They can provide more accurate premium rates, more individualized policies, and faster claim processing as a result. Because advanced analytics algorithms can forecast future trends, insurers can proactively modify their plans to take advantage of new opportunities or prepare for impending obstacles. When it comes to spotting possible fraud schemes or figuring out which insurance yields the highest returns, data analytics offers the practical knowledge required to make wise choices. The market for insurance analytics solutions is being further driven by the increasing number of businesses realizing the benefits of being data-driven. The main driver of market growth is the expansion of government legislation requiring insurance coverage in developing nations.
Key Restraints for the Insurance Analytics Market
One of the main obstacles to the insurance analytics market's revenue growth is worries about data security and privacy. Insurance firms handle sensitive client data, such as financial and personal information. A significant obstacle is the shortage of qualified personnel with data analytics experience in the insurance sector. To obtain insightful information, insurance businesses want experts who can efficiently evaluate and comprehend vast amounts of data.
Key Opportunity for the Insurance Analytics Market
By leveraging data analytics and AI, insurers can create personalized policies tailored to individual customers' needs and risk profiles. This approach enables insurers to offer more relevant coverage, improve customer satisfaction, and increase policyholder retention. By harnessing data from various sources, insurers can gain a deeper understanding of their customers' behaviors, preferences, and risks. This insight can be used to develop targeted marketing campaigns, optimize policy pricing, and design more effective risk management strategies. Personalization can also help insurers to differentiate themselves in a competitive market, build stronger relationships with policyholders, and ultimately drive business growth.
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August 2023: Fortitude Re partnered with IBM to modernize and simplify its third-party administration of life insurance and annuities. This strategic relationship comprises an arrangement of USD 450 million, with the goal of using automation tools and Al technology to modernize Fortitude Re's services. To improve customer service, reduce operating costs, and increase operational efficiencies, IBM will design and operate a tailored solution for managing life and annuity insurance policies. (Source: https://fortitude-re.com/news/fortitude-re-engages-ibm-to-transform-and-optimize-its-life-insurance-and-annuity-third-party-administration-operations/ )
Top Companies Market Share in Insurance Analytics Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. The increasing utilization of insurance analytics technologies and the significant presence of large corporations in the area are the reasons behind this increase. In addition, the region's end-user industries—government, insurance, and third-party administrators—are putting a lot of effort into implementing insurance analytics in order to provide customer-focused products. The regional market is also anticipated to be driven by the quick developments in cloud computing, data analytics software, and government campaigns to raise awareness of the importance of insurance.
Asia-Pacific stands out as the fastest-growing region in the Insurance Analytics market. A greater number of fraud instances have resulted from the region's widespread use of mobile and real-time insurer platforms, which is driving up the need for secured analytics solutions. The Asia Pacific market is anticipated to be driven by the growing usage of cloud-based technologies and the increasing digitization of insurance businesses. The region's growing number of insurers and third-party administrators who prioritize offering cost-effective plans is anticipated to contribute to the market's expansion.
The current report Scope analyzes Insurance Analytics Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Insurance Analytics Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Insurance Analytics Industry growth. Insurance Analytics market has been segmented with the help of its Component, Deployment, and others. Insurance Analytics market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, Process automation is the dominant category. Insurance analytics for risk management provides underwriters with automated results that help them make better decisions. It also shows a hidden trend in the data and provides insights into potential dangers, allowing insurers to take preventative actions to avoid them. These factors are projected to drive demand in the risk management segment. Insurers must use their data efficiently to understand potential market risks and implement countermeasures to limit losses, ultimately promoting sector development. The industry is expected to grow further due to the increased need for data leveraging.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Insurance Analytics Industry. Request a Free Sample PDF!
Market segmentation by is another crucial element in understanding the dynamics of the Insurance Analytics industry. Applications refer to the specific uses or end-user industries that drive demand for the Insurance Analytics products or services. These can vary widely, depending on the nature of the market, ranging from healthcare, manufacturing, and retail to more specialized sectors like aerospace, automotive, and telecommunications. By breaking down the market according to its applications, businesses can gain insight into which industries are adopting Insurance Analytics-related solutions most effectively, and where new opportunities are emerging.
Moreover, analyzing application trends helps in recognizing which industries are growing faster, where innovations are occurring, and which markets are saturated, allowing businesses to strategically position themselves in the most promising areas of the market. Get in touch with us to receive industry-specific insights tailored to your needs
Some of the key of Insurance Analytics are:
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Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Insurance Analytics Market is witnessing significant growth in the near future.
In 2023, the Tool segment accounted for noticeable share of global Insurance Analytics Market and is projected to experience significant growth in the near future.
The segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Hexaware Technologies , MicroStrategy Inc. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Tool, Service, Managed Services, Professional Services |
Deployment | On-premise, Cloud |
Enterprise Size | Large Enterprise, Small & Medium Enterprise |
End Use | Insurance Companies, Government Agencies, Third-party Administrators, Brokers, & Consultancies |
List of Competitors | Hexaware Technologies, Microsoft Corporation, MicroStrategy Inc., LexisNexis Risk Solutions, OpenText, Oracle Corporation, PEGASYSTEMS INC., Sapiens International, Tableau Software, LLC, Verisk Analytics, Inc. |
This chapter will help you gain GLOBAL Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review Global Insurance Analytics Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review North America Insurance Analytics Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review Europe Insurance Analytics Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review Asia Pacific Insurance Analytics Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review South America Insurance Analytics Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review Middle East Insurance Analytics Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Insurance Analytics. Further deep in this chapter, you will be able to review Middle East Insurance Analytics Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Insurance Analytics. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Deployment Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Enterprise Size Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 13 Market Split by End Use Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Insurance Analytics market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 15 Research Methodology and Sources
Why Tool have a significant impact on Insurance Analytics market? |
What are the key factors affecting the Tool and Service of Insurance Analytics Market? |
What is the CAGR/Growth Rate of during the forecast period? |
By type, which segment accounted for largest share of the global Insurance Analytics Market? |
Which region is expected to dominate the global Insurance Analytics Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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