Insurance Analytics Market Size, Share & Trends Analysis Report By Component, By Application, By Deployment, By Enterprise Size, By End Use, By Region And Segment Forecasts, 2025 - 2030
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Insurance Analytics Market Growth & Trends
The global insurance analytics market size is expected treach USD 31.33 billion by 2030, registering a CAGR of 14.7% from 2025 t2030, according ta new report by Grand View Research, Inc. Rising use of big data and artificial intelligence (AI) by insurance organizations tautomate decision-making process and customer targeting is anticipated tpropel the market growth. Furthermore, increasing usage of smartphones and growing demand for digitalization across organizations tstreamline their operations is expected tpropel the demand for insurance analytics in the market.
Emergence of internet and social media along with increased affordability of storage systems has led tassimilation and generation of the large amount of unstructured data. Insurance companies today, are watching out for intends teffectively use the available information for better decision-making. The analytics solution helps the insurance organizations tpredict the expected cost of insurance related with the coverage, enhance risk assessment process, and allow organization tprevent and detect fraudulent activities.
Rising adoption of machine learning and AI in developing insurance analytics tools is gaining popularity across the globe as it offers security control and real-time intelligence with enhanced user experience. Furthermore, increasing adoption of IoT insurance as it increases customer satisfaction, mitigate risks, and lower costs is expected tdrive the market growth. Insurance organizations focus on prioritizing technology investments tanalyze and gain new insights from customer data, which allow organizations toffer better services ttheir clients.
Vendors focus on expanding their capabilities in insurance offerings through merger & acquisitions and new product development. For instance, in January 2018, Sapiens International acquired KnowledgePrice, a provider of digital consulting services tinsurers. The acquisition helped the former company texpand its capabilities in digital customer services for insurers.
Insurance Analytics Market Report Highlights
Insurance Analytics Market Growth & Trends
The global insurance analytics market size is expected treach USD 31.33 billion by 2030, registering a CAGR of 14.7% from 2025 t2030, according ta new report by Grand View Research, Inc. Rising use of big data and artificial intelligence (AI) by insurance organizations tautomate decision-making process and customer targeting is anticipated tpropel the market growth. Furthermore, increasing usage of smartphones and growing demand for digitalization across organizations tstreamline their operations is expected tpropel the demand for insurance analytics in the market.
Emergence of internet and social media along with increased affordability of storage systems has led tassimilation and generation of the large amount of unstructured data. Insurance companies today, are watching out for intends teffectively use the available information for better decision-making. The analytics solution helps the insurance organizations tpredict the expected cost of insurance related with the coverage, enhance risk assessment process, and allow organization tprevent and detect fraudulent activities.
Rising adoption of machine learning and AI in developing insurance analytics tools is gaining popularity across the globe as it offers security control and real-time intelligence with enhanced user experience. Furthermore, increasing adoption of IoT insurance as it increases customer satisfaction, mitigate risks, and lower costs is expected tdrive the market growth. Insurance organizations focus on prioritizing technology investments tanalyze and gain new insights from customer data, which allow organizations toffer better services ttheir clients.
Vendors focus on expanding their capabilities in insurance offerings through merger & acquisitions and new product development. For instance, in January 2018, Sapiens International acquired KnowledgePrice, a provider of digital consulting services tinsurers. The acquisition helped the former company texpand its capabilities in digital customer services for insurers.
Insurance Analytics Market Report Highlights
- The service segment is expected tregister the fastest growth from 2025 t2030 due trising demand for analysis and protection of critical data, and professional guidance for new technologies
- The customer management & personalization segment is anticipated tregister the fastest CAGR over the forecast period on account of rising adoption of advanced analytics techniques and data-driven decision-making process
- Cloud deployment is anticipated tbe the largest as well as the fastest segment from 2025 t2030
- The Small & Medium Enterprises (SME) segment is expected thave the highest CAGR over the forecast period due tincreasing number of SMEs and growing demand for customer-centric insurance policies
- The third-party administrators, brokers, & consultancies segment is expected tregister fastest growth over the forecast period due trising number of online channels and growing awareness about the investment market
- North America was the dominant region in 2024 and is anticipated tretain its leading position over the next eight years
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Insights
2.2. Segmental Outlook
2.3. Competitive Outlook
CHAPTER 3. INSURANCE ANALYTICS MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. Insurance Analytics Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic and social landscape
3.3.2.3. Technological landscape
CHAPTER 4. INSURANCE ANALYTICS MARKET: COMPONENT OUTLOOK ESTIMATES & FORECASTS
4.1. Insurance Analytics Market Share by Component, 2024 & 2030 (USD Million)
4.2. Tool
4.2.1. Insurance analytics tool market estimates and forecasts, 2018 - 2030 (USD Million)
4.3. Service
4.3.1. Insurance analytics service market estimates and forecasts, 2018 - 2030 (USD Million)
4.3.2. Managed services
4.3.2.1. Insurance analytics managed service market estimates and forecasts, 2018 - 2030 (USD Million)
4.3.3. Professional services
4.3.3.1. Insurance analytics professional service market estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 5. INSURANCE ANALYTICS MARKET: APPLICATION OUTLOOK ESTIMATES & FORECASTS
5.1. Insurance Analytics Market Share by Application, 2024 & 2030 (USD Million)
5.2. Claim Management
5.2.1. Insurance analytics market in claim management estimates and forecasts, 2018 - 2030 (USD Million)
5.3. Risk Management
5.3.1. Insurance analytics market in risk management estimates and forecasts, 2018 - 2030 (USD Million)
5.4. Process Optimization
5.4.1. Insurance analytics market in process optimization estimates and forecasts, 2018 - 2030 (USD Million)
5.5. Customer Management & Personalization
5.5.1. Insurance analytics market in customer management & personalization estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 6. INSURANCE ANALYTICS MARKET: DEPLOYMENT OUTLOOK ESTIMATES & FORECASTS
6.1. Insurance Analytics Market Share by Deployment, 2024 & 2030 (USD Million)
6.2. Cloud
6.2.1. Cloud insurance analytics market estimates and forecasts, 2018 - 2030 (USD Million)
6.3. On-premise
6.3.1. On-premise insurance analytics market estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 7. INSURANCE ANALYTICS MARKET: ENTERPRISE SIZE OUTLOOK ESTIMATES & FORECASTS
7.1. Insurance Analytics Market Share by Enterprise Size, 2024 & 2030 (USD Million)
7.2. Large Enterprise
7.2.1. Insurance analytics market for large enterprise estimates and forecasts, 2018 - 2030 (USD Million)
7.3. Small & Medium Enterprise
7.3.1. Insurance analytics market for small & medium enterprise estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 8. INSURANCE ANALYTICS MARKET: END-USE OUTLOOK ESTIMATES & FORECASTS
8.1. Insurance Analytics Market Share by End Use, 2024 & 2030 (USD Million)
8.2. Insurance Companies
8.2.1. Insurance analytics market in insurance companies estimates and forecasts, 2018 - 2030 (USD Million)
8.3. Government Agencies
8.3.1. Insurance analytics market in government agencies estimates and forecasts, 2018 - 2030 (USD Million)
8.4. Third-party Administrators, Brokers, and Consultancies
8.4.1. Insurance analytics market in third-party administrators, brokers, and consultancies estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 9. INSURANCE ANALYTICS REGIONAL OUTLOOK ESTIMATES & FORECASTS
9.1. Regional Snapshot
9.2. Insurance Analytics Market: Regional Movement Analysis, 2024 & 2030
9.3. North America
9.3.1. North America Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.2. U.S.
9.3.2.1. U.S. Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.3. Canada
9.3.3.1. Canada Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.4. Mexico
9.3.4.1. Mexico Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4. Europe
9.4.1. Europe Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.2. U.K.
9.4.2.1. U.K. Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.3. Germany
9.4.3.1. Germany Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.4. France
9.4.4.1. France Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5. Asia Pacific
9.5.1. Asia Pacific Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.2. China
9.5.2.1. China Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.3. India
9.5.3.1. India Smart Insurance Analytics Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.4. Japan
9.5.4.1. Japan Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.5. Australia
9.5.5.1. Australia Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.6. South Korea
9.5.6.1. South Korea Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.6. Latin America
9.6.1. Latin America Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.6.2. Brazil
9.6.2.1. Brazil Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7. MEA
9.7.1. MEA Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.2. Kingdom of Saudi Arabia
9.7.2.1. Kingdom of Saudi Arabia Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.3. UAE
9.7.3.1. UAE Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.4. South Africa
9.7.4.1. South Africa Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
CHAPTER 10. COMPETITIVE LANDSCAPE
10.1. Company Categorization
10.2. Company Market Positioning
10.3. Company Heat Map Analysis
10.4. Company Profiles/Listing
10.4.1. Hexaware Technologies
10.4.1.1. Participant’s overview
10.4.1.2. Financial performance
10.4.1.3. Product benchmarking
10.4.1.4. Strategic initiatives
10.4.2. LexisNexis Risk Solutions
10.4.2.1. Participant’s overview
10.4.2.2. Financial performance
10.4.2.3. Product benchmarking
10.4.2.4. Strategic initiatives
10.4.3. Microsoft Corporation
10.4.3.1. Participant’s overview
10.4.3.2. Financial performance
10.4.3.3. Product benchmarking
10.4.3.4. Strategic initiatives
10.4.4. MicroStrategy Incorporated
10.4.4.1. Participant’s overview
10.4.4.2. Financial performance
10.4.4.3. Product benchmarking
10.4.4.4. Strategic initiatives
10.4.5. OpenText
10.4.5.1. Participant’s overview
10.4.5.2. Financial performance
10.4.5.3. Product benchmarking
10.4.5.4. Strategic initiatives
10.4.6. Oracle Corporation
10.4.6.1. Participant’s overview
10.4.6.2. Financial performance
10.4.6.3. Product benchmarking
10.4.6.4. Strategic initiatives
10.4.7. PEGASYSTEMS INC.
10.4.7.1. Participant’s overview
10.4.7.2. Financial performance
10.4.7.3. Product benchmarking
10.4.7.4. Strategic initiatives
10.4.8. Sapiens International
10.4.8.1. Participant’s overview
10.4.8.2. Financial performance
10.4.8.3. Product benchmarking
10.4.8.4. Strategic initiatives
10.4.9. Tableau Software, LLC
10.4.9.1. Participant’s overview
10.4.9.2. Financial performance
10.4.9.3. Product benchmarking
10.4.9.4. Strategic initiatives
10.4.10. Verisk Analytics, Inc.
10.4.10.1. Participant’s overview
10.4.10.2. Financial performance
10.4.10.3. Product benchmarking
10.4.10.4. Strategic initiatives
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Insights
2.2. Segmental Outlook
2.3. Competitive Outlook
CHAPTER 3. INSURANCE ANALYTICS MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.2.3. Industry Challenge
3.3. Insurance Analytics Market Analysis Tools
3.3.1. Industry Analysis - Porter’s
3.3.1.1. Bargaining power of the suppliers
3.3.1.2. Bargaining power of the buyers
3.3.1.3. Threats of substitution
3.3.1.4. Threats from new entrants
3.3.1.5. Competitive rivalry
3.3.2. PESTEL Analysis
3.3.2.1. Political landscape
3.3.2.2. Economic and social landscape
3.3.2.3. Technological landscape
CHAPTER 4. INSURANCE ANALYTICS MARKET: COMPONENT OUTLOOK ESTIMATES & FORECASTS
4.1. Insurance Analytics Market Share by Component, 2024 & 2030 (USD Million)
4.2. Tool
4.2.1. Insurance analytics tool market estimates and forecasts, 2018 - 2030 (USD Million)
4.3. Service
4.3.1. Insurance analytics service market estimates and forecasts, 2018 - 2030 (USD Million)
4.3.2. Managed services
4.3.2.1. Insurance analytics managed service market estimates and forecasts, 2018 - 2030 (USD Million)
4.3.3. Professional services
4.3.3.1. Insurance analytics professional service market estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 5. INSURANCE ANALYTICS MARKET: APPLICATION OUTLOOK ESTIMATES & FORECASTS
5.1. Insurance Analytics Market Share by Application, 2024 & 2030 (USD Million)
5.2. Claim Management
5.2.1. Insurance analytics market in claim management estimates and forecasts, 2018 - 2030 (USD Million)
5.3. Risk Management
5.3.1. Insurance analytics market in risk management estimates and forecasts, 2018 - 2030 (USD Million)
5.4. Process Optimization
5.4.1. Insurance analytics market in process optimization estimates and forecasts, 2018 - 2030 (USD Million)
5.5. Customer Management & Personalization
5.5.1. Insurance analytics market in customer management & personalization estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 6. INSURANCE ANALYTICS MARKET: DEPLOYMENT OUTLOOK ESTIMATES & FORECASTS
6.1. Insurance Analytics Market Share by Deployment, 2024 & 2030 (USD Million)
6.2. Cloud
6.2.1. Cloud insurance analytics market estimates and forecasts, 2018 - 2030 (USD Million)
6.3. On-premise
6.3.1. On-premise insurance analytics market estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 7. INSURANCE ANALYTICS MARKET: ENTERPRISE SIZE OUTLOOK ESTIMATES & FORECASTS
7.1. Insurance Analytics Market Share by Enterprise Size, 2024 & 2030 (USD Million)
7.2. Large Enterprise
7.2.1. Insurance analytics market for large enterprise estimates and forecasts, 2018 - 2030 (USD Million)
7.3. Small & Medium Enterprise
7.3.1. Insurance analytics market for small & medium enterprise estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 8. INSURANCE ANALYTICS MARKET: END-USE OUTLOOK ESTIMATES & FORECASTS
8.1. Insurance Analytics Market Share by End Use, 2024 & 2030 (USD Million)
8.2. Insurance Companies
8.2.1. Insurance analytics market in insurance companies estimates and forecasts, 2018 - 2030 (USD Million)
8.3. Government Agencies
8.3.1. Insurance analytics market in government agencies estimates and forecasts, 2018 - 2030 (USD Million)
8.4. Third-party Administrators, Brokers, and Consultancies
8.4.1. Insurance analytics market in third-party administrators, brokers, and consultancies estimates and forecasts, 2018 - 2030 (USD Million)
CHAPTER 9. INSURANCE ANALYTICS REGIONAL OUTLOOK ESTIMATES & FORECASTS
9.1. Regional Snapshot
9.2. Insurance Analytics Market: Regional Movement Analysis, 2024 & 2030
9.3. North America
9.3.1. North America Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.2. U.S.
9.3.2.1. U.S. Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.3. Canada
9.3.3.1. Canada Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.3.4. Mexico
9.3.4.1. Mexico Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4. Europe
9.4.1. Europe Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.2. U.K.
9.4.2.1. U.K. Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.3. Germany
9.4.3.1. Germany Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.4.4. France
9.4.4.1. France Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5. Asia Pacific
9.5.1. Asia Pacific Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.2. China
9.5.2.1. China Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.3. India
9.5.3.1. India Smart Insurance Analytics Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.4. Japan
9.5.4.1. Japan Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.5. Australia
9.5.5.1. Australia Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.5.6. South Korea
9.5.6.1. South Korea Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.6. Latin America
9.6.1. Latin America Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.6.2. Brazil
9.6.2.1. Brazil Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7. MEA
9.7.1. MEA Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.2. Kingdom of Saudi Arabia
9.7.2.1. Kingdom of Saudi Arabia Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.3. UAE
9.7.3.1. UAE Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
9.7.4. South Africa
9.7.4.1. South Africa Insurance Analytics Market Estimates and Forecasts, 2018 - 2030 (USD Million)
CHAPTER 10. COMPETITIVE LANDSCAPE
10.1. Company Categorization
10.2. Company Market Positioning
10.3. Company Heat Map Analysis
10.4. Company Profiles/Listing
10.4.1. Hexaware Technologies
10.4.1.1. Participant’s overview
10.4.1.2. Financial performance
10.4.1.3. Product benchmarking
10.4.1.4. Strategic initiatives
10.4.2. LexisNexis Risk Solutions
10.4.2.1. Participant’s overview
10.4.2.2. Financial performance
10.4.2.3. Product benchmarking
10.4.2.4. Strategic initiatives
10.4.3. Microsoft Corporation
10.4.3.1. Participant’s overview
10.4.3.2. Financial performance
10.4.3.3. Product benchmarking
10.4.3.4. Strategic initiatives
10.4.4. MicroStrategy Incorporated
10.4.4.1. Participant’s overview
10.4.4.2. Financial performance
10.4.4.3. Product benchmarking
10.4.4.4. Strategic initiatives
10.4.5. OpenText
10.4.5.1. Participant’s overview
10.4.5.2. Financial performance
10.4.5.3. Product benchmarking
10.4.5.4. Strategic initiatives
10.4.6. Oracle Corporation
10.4.6.1. Participant’s overview
10.4.6.2. Financial performance
10.4.6.3. Product benchmarking
10.4.6.4. Strategic initiatives
10.4.7. PEGASYSTEMS INC.
10.4.7.1. Participant’s overview
10.4.7.2. Financial performance
10.4.7.3. Product benchmarking
10.4.7.4. Strategic initiatives
10.4.8. Sapiens International
10.4.8.1. Participant’s overview
10.4.8.2. Financial performance
10.4.8.3. Product benchmarking
10.4.8.4. Strategic initiatives
10.4.9. Tableau Software, LLC
10.4.9.1. Participant’s overview
10.4.9.2. Financial performance
10.4.9.3. Product benchmarking
10.4.9.4. Strategic initiatives
10.4.10. Verisk Analytics, Inc.
10.4.10.1. Participant’s overview
10.4.10.2. Financial performance
10.4.10.3. Product benchmarking
10.4.10.4. Strategic initiatives
