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PUBLISHER: IMARC | PRODUCT CODE: 1636065
PUBLISHER: IMARC | PRODUCT CODE: 1636065
Insurance Software Market by Type (Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Others), Deployment Mode (Cloud-based, On-premises), End User (Brokers, Agencies, Insurance Companies), and Region 2025-2033
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The global insurance software market size reached USD 4.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.5 Billion by 2033, exhibiting a growth rate (CAGR) of 5.38% during 2025-2033. The increasing need to automate software programs, the rising demand for mobile apps in insurance businesses, and the growing employment of insurance software to collect information about claims represent some of the key factors driving the market.
Insurance software is used to manage insurance business operations, such as underwriting, issuing policies, managing teams, tracking claims, complying with laws, and updating policy information. It comprises insurance agency management, insurance workflow automation management, claim management, mobile apps for agents and representatives, and insurance policy management software. It assists brokers, agents, agencies, and carriers in saving time and money by streamlining their processes. It also aids in accessing, collecting and organizing policyholder agreements, contracts, and private documents. Besides this, it helps organize, monitor, regulate, and coordinate numerous business processes, such as lead management, human resource (HR), marketing, and sales. Insurance is consequently employed for automating policy and rule execution while eliminating human errors. It currently finds applications in programming the claim document process, payments management, monitoring fraudulent activities, and integrating policy administration.
Insurance Software Market Trends:
At present, the increasing demand for insurance software to automate software programs that help companies collate large databases of insurers for various business actions is contributing to the growth of the market. Besides this, there is a rise in the demand for mobile apps in insurance businesses to create custom software for their agents and representatives. The growing utilization of these apps for database and special access and global positioning system (GPS) tracking is also offering a positive market outlook. In addition, solution providers are investing in research and development (R&D) activities to offer insurance solutions with artificial intelligence (AI) technology to boost the efficiency of the insurance process and provide more reliable solutions in claim processing and policy management. They are also focusing on various marketing strategies to expand their customer base. Moreover, the rising employment of insurance software to collect information about claims, such as outstanding claim reserves, event codes, payment components, and relevant dates of claim activities, is propelling the growth of the market. Apart from this, the growing demand for insurance software to examine and compute insurance risk parameters, such as unit and amount insured, system risk, and reinsurance surrender, is positively influencing the market. Additionally, the increasing demand for tech-driven insurance management software to monitor and manage all the current and previous procedures of agencies is bolstering the growth of the market.
Key Market Segmentation:
Type Insights:
- Life Insurance
- Accident and Health Insurance
- Property and Casualty Insurance
- Others
Deployment Mode Insights:
- Cloud-based
- On-premises
End User Insights:
- Brokers
- Agencies
- Insurance Companies
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
- The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, North America was the largest market for insurance software. Some of factors driving the North America insurance software market included increasing adoption of online platforms by insurance companies, rising demand for insurance software among brokers and agencies, and the growing number of insurance companies across the region.
- Competitive Landscape
- The report has also provided a comprehensive analysis of the competitive landscape in the global insurance software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Accenture Plc, Acturis Ltd., Axxis Systems SA, Buckhill Ltd., EIS Software Limited, Guidewire Software Inc., Mitchell International Inc., Oracle Corporation, Salesforce Inc., SAP SE, Sapiens International Corporation, Solartis Technology Services Pvt Ltd., Vertafore Inc (Roper Technologies Inc.), etc.
Key Questions Answered in This Report:
- How has the global insurance software market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global insurance software market?
- What are the key regional markets?
- Which countries represent the most attractive insurance software markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the end user?
- What is the competitive structure of the global insurance software market?
- Who are the key players/companies in the global insurance software market?
Product Code: SR112025A6747
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Insurance Software Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Life Insurance
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Accident and Health Insurance
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Property and Casualty Insurance
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Deployment Mode
- 7.1 Cloud-based
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 On-premises
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by End User
- 8.1 Brokers
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Agencies
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Insurance Companies
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Accenture Plc
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Acturis Ltd.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Axxis Systems SA
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Buckhill Ltd.
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 EIS Software Limited
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Guidewire Software Inc.
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Mitchell International Inc
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Oracle Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Salesforce Inc.
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 SAP SE
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Sapiens International Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Solartis Technology Services Pvt. Ltd
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.13 Vertafore Inc (Roper Technologies Inc.)
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.1 Accenture Plc
Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
Product Code: SR112025A6747
List of Figures
- Figure 1: Global: Insurance Software Market: Major Drivers and Challenges
- Figure 2: Global: Insurance Software Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Insurance Software Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Insurance Software Market: Breakup by Type (in %), 2024
- Figure 5: Global: Insurance Software Market: Breakup by Deployment Mode (in %), 2024
- Figure 6: Global: Insurance Software Market: Breakup by End User (in %), 2024
- Figure 7: Global: Insurance Software Market: Breakup by Region (in %), 2024
- Figure 8: Global: Insurance Software (Life Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Insurance Software (Life Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Insurance Software (Accident and Health Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Insurance Software (Accident and Health Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Insurance Software (Property and Casualty Insurance) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Insurance Software (Property and Casualty Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Insurance Software (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Insurance Software (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Insurance Software (Cloud-based) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Insurance Software (Cloud-based) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Insurance Software (On-premises) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Insurance Software (On-premises) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Insurance Software (Brokers) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Insurance Software (Brokers) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Insurance Software (Agencies) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Insurance Software (Agencies) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Insurance Software (Insurance Companies) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Insurance Software (Insurance Companies) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: North America: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: North America: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: United States: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: United States: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Canada: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Canada: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Asia-Pacific: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Asia-Pacific: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: China: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: China: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: Japan: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: Japan: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: India: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: India: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: South Korea: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: South Korea: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Australia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Australia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: Indonesia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: Indonesia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Europe: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Europe: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Germany: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Germany: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: France: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: France: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: United Kingdom: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: United Kingdom: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Italy: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Italy: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Spain: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Spain: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Russia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Russia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Latin America: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Latin America: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Brazil: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Brazil: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Mexico: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Mexico: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Middle East and Africa: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Middle East and Africa: Insurance Software Market: Breakup by Country (in %), 2024
- Figure 74: Middle East and Africa: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 75: Global: Insurance Software Industry: Drivers, Restraints, and Opportunities
- Figure 76: Global: Insurance Software Industry: Value Chain Analysis
- Figure 77: Global: Insurance Software Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Insurance Software Market: Key Industry Highlights, 2024 & 2033
- Table 2: Global: Insurance Software Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: Insurance Software Market Forecast: Breakup by Deployment Mode (in Million USD), 2025-2033
- Table 4: Global: Insurance Software Market Forecast: Breakup by End User (in Million USD), 2025-2033
- Table 5: Global: Insurance Software Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Insurance Software Market: Competitive Structure
- Table 7: Global: Insurance Software Market: Key Players
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