Apac Insurtech Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

APAC Insurtech Market Report is Segmented by Insurance Line (Health, Life, and Non-Life) and Country (China, India, Japan, Hong Kong, Singapore, Indonesia, and Rest of Asia-Pacific). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Apac Insurtech Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Asia-Pacific InsurTech Market Size

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Asia Pacific Insurtech Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 20.81 Billion
Market Size (2030) USD 52.51 Billion
CAGR (2025 - 2030) 20.34 %
Market Concentration Low

Major Players

Asia Pacific Insurtech Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Asia-Pacific InsurTech Market with other markets in Financial Services and Investment Intelligence Industry

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Asset Management

Asia-Pacific InsurTech Market Analysis

The Asia-Pacific InsurTech Market size is estimated at USD 20.81 billion in 2025, and is expected to reach USD 52.51 billion by 2030, at a CAGR of 20.34% during the forecast period (2025-2030).

The insurance industry across Asia-Pacific countries is rapidly embracing technology. Companies are adopting artificial intelligence, big data analytics, and blockchain to streamline processes, elevate customer experiences, and tailor coverage. This tech drive is fueled by the region's tech-savvy consumers, who demand seamless digital interactions. Consequently, the regional market is witnessing the emergence of novel business models such as peer-to-peer insurance and on-demand coverage. Beyond tech adoption, businesses are also innovating in terms of product offerings and distribution channels, yielding impressive results. Leading players are not only setting the stage for long-term success but also capitalizing on immediate opportunities. With its vast population and surging internet penetration, the regional market is a hotbed for insurtech growth.

The insurance market’s transformation is further supported by regulatory frameworks that encourage innovation and competition. Additionally, partnerships between traditional insurers and tech startups are becoming increasingly common, fostering a collaborative environment that drives industry-wide advancements.

Asia-Pacific InsurTech Industry Overview

The APAC insurtech market is highly fragmented, with many players operating in the market. Across Asia-Pacific countries, there are about 330 insurtech businesses in operation. In the region, China and India account for about half of all private insurtech companies and have drawn nearly 78% of venture capital investments. India is now the second-largest insurance market in the region, home to 66 insurance companies. ZhongAn Insurance, SingLife, CXA Group, CoverFox Insurance, and PolicyPal are some of the leading companies in the regional market.

Asia-Pacific InsurTech Market Leaders

  1. ZhongAn Insurance

  2. SIngLife

  3. CXA Group

  4. CoverFox Insurance

  5. PolicyPal

  6. *Disclaimer: Major Players sorted in no particular order
Asia Pacific Insurtech Market Concentration
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Asia-Pacific InsurTech Market News

  • May 2024: MyGate, a housing society management app, entered the insurance distribution business. It obtained an aggregator license from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance policies.
  • March 2023: BlackRock and Citi formed a technological partnership with insurer Singlife. Clients will have access to full portfolio management capabilities through integration with BlackRock Aladdin and Citi, which will increase productivity, automate controls, and facilitate a smooth front-to-back experience.

APAC Insurtech Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
    • 4.1.1 Insights into Macroeconomic Aspects and Demographics of Asia-Pacific
    • 4.1.2 A Brief Note on Insurtech Landscape in Asia-Pacific
  • 4.2 Market Drivers
    • 4.2.1 Increasing Adoption of Digital Technologies
    • 4.2.2 Rise of Big Data and Advanced Analytics
  • 4.3 Market Restraints
    • 4.3.1 Complex Regulatory Landscape Restraining the Market
    • 4.3.2 Data Privacy and Cybersecurity Concerns
  • 4.4 Market Opportunities
    • 4.4.1 Tapping into the Underserved Markets in the Region is Creating Opportunities
  • 4.5 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.5.1 Bargaining Power of Suppliers
    • 4.5.2 Bargaining Power of Consumers
    • 4.5.3 Threat of New Entrants
    • 4.5.4 Threat of Substitutes
    • 4.5.5 Intensity of Competitive Rivalry
  • 4.6 Insights into Various Technologies Being Used by Insurtech Players in the Region
  • 4.7 Insights into Insurtech Regulatory Landscape in Asia-Pacific
  • 4.8 Insights into Venture Capital Investments in Insurtech in Asia-Pacific
  • 4.9 Impact of the COVID-19 Pandemic on the Industry

5. MARKET SEGMENTATION

  • 5.1 By Insurance Line
    • 5.1.1 Health
    • 5.1.2 Life
    • 5.1.3 Non-life
  • 5.2 By Country
    • 5.2.1 China
    • 5.2.2 India
    • 5.2.3 Singapore
    • 5.2.4 Hong Kong
    • 5.2.5 Japan
    • 5.2.6 Indonesia
    • 5.2.7 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 ZhongAn Insurance
    • 6.2.2 Singapore Life
    • 6.2.3 CXA Group
    • 6.2.4 Coverfox Insurance
    • 6.2.5 PolicyPal
    • 6.2.6 PolicyBazaar
    • 6.2.7 Acko General Insurance Ltd
    • 6.2.8 WaterDrop
    • 6.2.9 Digit Insurance
    • 6.2.10 CompareAsiaGroup
    • 6.2.11 GoBear
    • 6.2.12 SmartHR
    • 6.2.13 Prenetics
    • 6.2.14 PasarPolis*
  • *List Not Exhaustive

7. MARKET FUTURE TRENDS

8. DISCLAIMER AND ABOUT US

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Asia-Pacific InsurTech Industry Segmentation

Insurtech is using new technology to improve the efficiency of how insurance is sold right now. This report offers a comprehensive analysis of the Asia-Pacific insurtech market. It delves into market dynamics, highlights emerging trends across segments and regional markets, and provides insights into diverse product and application types. Additionally, the report scrutinizes key players and the competitive landscape. 

The Asia-Pacific insurtech market is segmented by insurance lines, which include health, life, and non-life. By country, the market is segmented into China, India, Japan, Hong Kong, Singapore, Indonesia, and the Rest of Asia-Pacific. The report offers market sizes and forecasts in terms of value (USD) for all the above segments.

By Insurance Line Health
Life
Non-life
By Country China
India
Singapore
Hong Kong
Japan
Indonesia
Rest of Asia-Pacific
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APAC Insurtech Market Research FAQs

How big is the Asia-Pacific InsurTech Market?

The Asia-Pacific InsurTech Market size is expected to reach USD 20.81 billion in 2025 and grow at a CAGR of 20.34% to reach USD 52.51 billion by 2030.

What is the current Asia-Pacific InsurTech Market size?

In 2025, the Asia-Pacific InsurTech Market size is expected to reach USD 20.81 billion.

Who are the key players in Asia-Pacific InsurTech Market?

ZhongAn Insurance, SIngLife, CXA Group, CoverFox Insurance and PolicyPal are the major companies operating in the Asia-Pacific InsurTech Market.

What years does this Asia-Pacific InsurTech Market cover, and what was the market size in 2024?

In 2024, the Asia-Pacific InsurTech Market size was estimated at USD 16.58 billion. The report covers the Asia-Pacific InsurTech Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific InsurTech Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

APAC Insurtech Industry Report

Statistics for the 2025 Asia-Pacific InsurTech market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific InsurTech analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.