Market overview
The global insurtech market is worth USD 20.7 bn in 2026 and is forecast to reach USD 76.7 bn by 2036, growing at a 14.0% CAGR. United States is the largest country market and Core policy and billing systems is the largest by solution segment.
| Scope | Insurance technology: core policy administration, claims, underwriting, distribution and analytics software and related services sold to insurers, brokers and agents. |
|---|---|
| Industry | Technology |
| Value 2025 | USD 18.0 bn |
| Value 2026 | USD 20.7 bn |
| Value 2036 | USD 76.7 bn |
| CAGR 2026-2036 | 14.0% |
| Volume 2026 | 104 thousand installations |
| Volume 2036 | 384 thousand installations |
| Average price 2026 | USD 200,000 per installation |
| Report price | Starts from USD 1,999 |
| Published | November 2026 |
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Insurtech market size and forecast, 2026-2036
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Year | Market value |
|---|---|
| 2026 | USD 20.7 bn |
| 2027 | USD 23.6 bn |
| 2028 | USD 26.9 bn |
| 2029 | USD 30.7 bn |
| 2030 | USD 35.0 bn |
| 2031 | USD 39.9 bn |
| 2032 | USD 45.4 bn |
| 2033 | USD 51.8 bn |
| 2034 | USD 59.0 bn |
| 2035 | USD 67.3 bn |
| 2036 | USD 76.7 bn |
Insurtech market segmentation
By solution
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Core policy and billing systems | 30.0% | 24.8% | USD 6.2 bn | 11.9% |
| Claims management | 24.0% | 25.9% | USD 5.0 bn | 14.9% |
| Underwriting and risk analytics | 18.0% | 21.2% | USD 3.7 bn | 15.9% |
| Distribution and customer engagement | 16.0% | 17.3% | USD 3.3 bn | 14.9% |
| Other solutions | 12.0% | 10.9% | USD 2.5 bn | 12.9% |
By component
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Software | 50.0% | 49.4% | USD 10.3 bn | 13.9% |
| Implementation services | 30.0% | 27.1% | USD 6.2 bn | 12.9% |
| Managed services | 20.0% | 23.5% | USD 4.1 bn | 15.8% |
By end user
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Property and casualty insurers | 42.0% | 41.1% | USD 8.7 bn | 13.8% |
| Life and health insurers | 32.0% | 28.7% | USD 6.6 bn | 12.8% |
| Brokers and agents | 26.0% | 30.3% | USD 5.4 bn | 15.7% |
By deployment
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Cloud | 62.0% | 70.0% | USD 12.8 bn | 15.4% |
| On-premise | 24.0% | 16.0% | USD 5.0 bn | 9.5% |
| Hybrid | 14.0% | 14.0% | USD 2.9 bn | 14.0% |
By insurance line
| Segment | Share 2026 | Share 2036 | Value 2026 | CAGR 2026-36 |
|---|---|---|---|---|
| Property and casualty | 38.0% | 36.0% | USD 7.9 bn | 13.4% |
| Life and annuities | 24.0% | 22.0% | USD 5.0 bn | 13.0% |
| Health | 26.0% | 29.0% | USD 5.4 bn | 15.2% |
| Motor and specialty | 12.0% | 13.0% | USD 2.5 bn | 14.9% |
Top 25 countries for insurtech by revenue
Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 85.0% of 2026 revenue and the 25 countries below together hold 96.1%.
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
| # | Country | Value 2026 | Share 2026 | Value 2036 | CAGR 2026-36 |
|---|---|---|---|---|---|
| 1 | United States | USD 8.3 bn | 40.0% | USD 27.5 bn | 12.8% |
| 2 | United Kingdom | USD 1.7 bn | 8.0% | USD 6.0 bn | 13.7% |
| 3 | China | USD 1.7 bn | 8.0% | USD 7.8 bn | 16.8% |
| 4 | Germany | USD 1.2 bn | 6.0% | USD 4.5 bn | 13.8% |
| 5 | Japan | USD 1.0 bn | 5.0% | USD 3.1 bn | 11.8% |
| 6 | India | USD 1.0 bn | 5.0% | USD 6.3 bn | 19.8% |
| 7 | France | USD 828 mn | 4.0% | USD 3.0 bn | 13.7% |
| 8 | Canada | USD 828 mn | 4.0% | USD 3.0 bn | 13.7% |
| 9 | Australia | USD 621 mn | 3.0% | USD 2.2 bn | 13.6% |
| 10 | Singapore | USD 414 mn | 2.0% | USD 1.8 bn | 15.6% |
| 11 | Ireland | USD 257 mn | 1.2% | USD 967 mn | 14.2% |
| 12 | Switzerland | USD 236 mn | 1.1% | USD 798 mn | 13.0% |
| 13 | Netherlands | USD 217 mn | 1.1% | USD 737 mn | 13.0% |
| 14 | Spain | USD 201 mn | 1.0% | USD 760 mn | 14.2% |
| 15 | Italy | USD 184 mn | 0.9% | USD 622 mn | 12.9% |
| 16 | Sweden | USD 170 mn | 0.8% | USD 576 mn | 13.0% |
| 17 | United Arab Emirates | USD 155 mn | 0.8% | USD 645 mn | 15.3% |
| 18 | Hong Kong | USD 143 mn | 0.7% | USD 537 mn | 14.2% |
| 19 | South Korea | USD 132 mn | 0.6% | USD 483 mn | 13.8% |
| 20 | Mexico | USD 122 mn | 0.6% | USD 506 mn | 15.3% |
| 21 | Saudi Arabia | USD 112 mn | 0.5% | USD 460 mn | 15.2% |
| 22 | South Africa | USD 104 mn | 0.5% | USD 430 mn | 15.3% |
| 23 | Nigeria | USD 95 mn | 0.5% | USD 391 mn | 15.2% |
| 24 | Poland | USD 87 mn | 0.4% | USD 361 mn | 15.3% |
| 25 | Israel | USD 81 mn | 0.4% | USD 307 mn | 14.3% |
| Rest of world | USD 809 mn | 3.9% | USD 2.9 bn | 13.4% |
Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.
Competitive landscape
Group 1: Global leaders
- Guidewire
- Duck Creek
- Sapiens
- Majesco
- Applied Systems
- Vertafore
- Oracle
Group 2: Regional and specialist players
- Insurity
- Zywave
- FINEOS
- Ebix
- Verisk
- Origami Risk
- Earnix
- Equisoft
- CCC Intelligent Solutions
- EIS Group
Group 3: Emerging and niche players
- Socotra
- Bolttech
- Cover Genius
- Tractable
- hyperexponential
- Federato
- Akur8
- Hi Marley
Research methodology
Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the insurtech market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.
The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 14.0% is calculated from the resulting values.
The market is divided by solution, by component, by end user, by deployment, by insurance line. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.
Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.
Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.
Frequently asked questions
How big is the insurtech market?
The global insurtech market is estimated at USD 18.0 bn in 2025 and USD 20.7 bn in 2026.
How fast will the insurtech market grow?
It is forecast to reach USD 76.7 bn by 2036, a compound annual growth rate of 14.0% from 2026, an increase of USD 56.0 bn.
Which country is the largest market for insurtech?
United States is the largest market by revenue at USD 8.3 bn in 2026, 40.0% of the global total. The three largest countries together hold 56.0%.
Which country is growing fastest?
Among the ten largest markets, India is growing fastest at 19.8% a year from 2026 to 2036.
Which insurtech segment is largest?
In the by solution split, Core policy and billing systems is the largest segment with 30.0% of 2026 revenue.
Who are the leading insurtech companies?
Global leaders include Guidewire, Duck Creek, Sapiens, Majesco.
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