United States of America [17-July-2025] – The Insight Partners

A new industry report from The Insight Partners projects the global insurance software market will grow from $10.3 billion in 2022 to $18.5 billion by 2030, representing a CAGR of 6.8%. This growth reflects an urgent industry pivot toward smarter, more scalable digital ecosystems in the face of rising consumer expectations and competitive pressures.

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Technology is the Core of Modern Insurance

From policy creation to claims resolution, the insurance industry is undergoing an operational overhaul. Software is no longer a back-office function it's now central to product innovation, customer engagement, and compliance.

Key growth drivers include:

• Rapid adoption of AI and machine learning for intelligent risk modeling and fraud detection
• Migration to cloud-native architectures for operational flexibility and cost efficiency
• Demand for enhanced digital experiences across mobile and web platforms
• Regulatory pressures driving the need for transparent, auditable workflows

As insurers work to modernize legacy infrastructure, software providers are enabling real-time decision-making, customer self-service, and data-driven personalization.

Market Highlights

• Deployment Type: Cloud-based insurance software is dominating, offering speed, agility, and scalability.
• Application Segment: The life and health insurance segment is expected to grow at the fastest pace, amid rising global health awareness and demand for digital health coverage.
• End Users: Small and medium enterprises (SMEs) are emerging as key adopters, seeking modular solutions with lower upfront costs.

Regional Trends

• North America remains the market leader due to its strong digital backbone and early insurtech investments.
• Asia-Pacific is the fastest-growing region, propelled by expanding insurance access, digital adoption, and economic development in emerging markets.

Competitive Landscape

Major players shaping the insurance software market include:

• Oracle
• Microsoft
• SAP
• Salesforce
• Guidewire Software
• Sapiens International

These companies are driving innovation through AI integration, real-time analytics, user-centric design, and strategic cloud partnerships.

About The Insight Partners
The Insight Partners is a global market research and advisory firm offering actionable intelligence and deep insights across various industries. Their insurance software market report delivers comprehensive analysis, forecasting, and competitive landscape information through 2031.

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