Digital Insurance Platform Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Th Digital Insurance Platform Providers and the Market is Segmented by Deployment (on-Premise, Cloud), Organization Size (large Enterprise, Small & Medium Enterprise), Application (automotive and Transportation, Home & Commercial Buildings, Life & Health, Business & Enterprise, Consumer Electronics & Industrial Machines, Travel), and Geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia- Pacific), Latin America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Digital Insurance Platform Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Digital Insurance Platform Market Size

Digital Insurance Platform Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 148.15 Billion
Market Size (2030) USD 255.43 Billion
CAGR (2025 - 2030) 11.51 %
Fastest Growing Market North America
Largest Market Asia Pacific
Market Concentration Low

Major Players

Digital Insurance Platform Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Digital Insurance Platform Market Analysis

The Digital Insurance Platform Market size is estimated at USD 148.15 billion in 2025, and is expected to reach USD 255.43 billion by 2030, at a CAGR of 11.51% during the forecast period (2025-2030).

Insurtech companies are disrupting the insurance industry by building digital platforms and collaborating with insurance companies and suppliers. The paradigm shift from a product-centric model in traditional insurance companies to a primarily client-centric model has been enabled by the digital insurance platforms enabled by technologies like IoT, Big data analytics, blockchain, artificial intelligence, and cloud computing.

  • Customer loyalty and satisfaction have become primary concerns for insurance companies. Artificial intelligence (AI) and related technologies are expected to significantly impact all aspects of the insurance value chain, from distribution to underwriting and pricing to claims management. This may result in policies being priced, purchased, and bound in near real-time. Through these, insurers have been able to smartly connect information and quickly deliver innovative products and services, which, in the end, will significantly improve customer loyalty and satisfaction.
  • Signs of massive and unprecedented progress are observed across the insurance industry. Explore new technologies and partner with insurance companies and their existing technology partners to develop new models and tools. Others stimulate their business results by executing quick minimum viable products (MVPs), proof of concepts (POCs), and straight into production. 
  • Many seek ways to speed up their existing digital roadmaps during and post-pandemics. And some are exploring new outsourcing solutions to drive agility. Over the past few months, the market has focused on digitizing the contact centers and the claims functions. Notably, significant progress was made in adopting automation and process streamlining, improving the use of structured and unstructured data, external data, and the exploratory use of knowledge.
  • On the flip side, the shift to digital insurance has increased the volume of data required and the variety of methods for processing it. When updating its catastrophe models, an insurance company, for instance, needs to know how many houses and businesses are vulnerable to manage risk and adjust its writings accordingly. In the future, a more comprehensive range of threats will need to be covered by catastrophe modeling. Further, insurance firms, particularly those who sell cyber insurance, have a specific obligation to protect their systems and data against hacking to manage risk and maintain the trust of their insured. Insurance providers require the appropriate procedures to manage their insured's information securely.
  • Cloud computing allows insurance companies to scale their operations up or down quickly in response to changing business needs. This scalability and flexibility are crucial in handling fluctuations in customer demand and adapting to market changes.
  • Integrating digital insurance platforms with the lagacy system is a common challange in the insurance industry and can restrain the growth of the digital insurance platform market. Several difficulties and complexities associated with this integration can hinder the adoption and implementation of modern digital solutions.

Digital Insurance Platform Industry Overview

The Digital Insurance Platform is fragmented, with the presence of major players like IBM Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc., and Appian Corporation. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • September 2023 - Majesco, one of the global leaders in cloud insurance software solutions, and Microsoft entered a strategic alliance to drive long-term digital transformation for insurers. The partnership empowers consumers with a scalable and secure intelligent cloud environment by leveraging Microsoft Cloud and Analytics capabilities.
  • April 2023 - EY organization announced a partnership with the EIS Group Inc (EIS), one of the global digital insurance platform providers, and Ernst & Young LLP (EY US) to assist clients in executing and combining EIS' cloud-native and digital insurance platform, a primary application programming interface, to address challenges and future requirements in the insurance industry.

Digital Insurance Platform Market Leaders

  1. IBM Corporation

  2. Microsoft Corporation

  3. Oracle Corporation

  4. Pegasystems Inc.

  5. Appian Corporation

  6. *Disclaimer: Major Players sorted in no particular order
Digital Insurance Platform Market Concentration
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Digital Insurance Platform Market News

  • August 2022 - USAA Life announced a partnership with Human API, a health data platform, to further digitize the life insurance buying process. USAA will get access to its members' digital health data using Human API's Health Intelligence Platform, which consists of a patient portal network and HIPAA-authorized networks, to enhance the user experience and streamline and speed up the purchasing process.
  • April 2022 - To assist insurance businesses with their digital transformation, Mindtree, a provider of technology services, has teamed up with Sapiens International Corporation. This company develops software solutions for the banking and insurance sectors. Insurance firms will be able to boost scalability, speed-to-market, and customer happiness thanks to the partnership between Sapiens and Mindtree and their advanced, cloud-native core suite of banking and insurance apps.

Digital Insurance Platform 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

  • 4.1 Market Overview
  • 4.2 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.2.1 Threat of New Entrants
    • 4.2.2 Bargaining Power of Buyers/Consumers
    • 4.2.3 Bargaining Power of Suppliers
    • 4.2.4 Threat of Substitute Products
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Assessment of COVID-19 impact on the industry

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Shift of Insurance Companies From Product Based to Customer-centric Strategies
    • 5.1.2 Increased Awareness Among Insurers About Digital Channels
    • 5.1.3 Growing Cloud Adoption
  • 5.2 Market Restraints
    • 5.2.1 Difficulty Regarding Integration of Insurance Platform with Legacy Systems

6. MARKET SEGMENTATION

  • 6.1 By Deployment
    • 6.1.1 Cloud
    • 6.1.2 On-premise
  • 6.2 By Organization Size
    • 6.2.1 Large Enterprises
    • 6.2.2 Small and Medium Enterprises
  • 6.3 By Application
    • 6.3.1 Automotive and Transportation
    • 6.3.2 Home and Commercial Buildings
    • 6.3.3 Life and Health
    • 6.3.4 Business and Enterprise
    • 6.3.5 Consumer Electronics and Industrial Machines
    • 6.3.6 Travel
  • 6.4 By Geography***
    • 6.4.1 North America
    • 6.4.1.1 United States
    • 6.4.1.2 Canada
    • 6.4.2 Europe
    • 6.4.2.1 United Kingdom
    • 6.4.2.2 Germany
    • 6.4.2.3 France
    • 6.4.3 Asia
    • 6.4.3.1 China
    • 6.4.3.2 Japan
    • 6.4.3.3 India
    • 6.4.3.4 Australia and New Zealand
    • 6.4.4 Latin America
    • 6.4.5 Middle East and Africa

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles
    • 7.1.1 IBM Corporation
    • 7.1.2 Microsoft Corporation
    • 7.1.3 Oracle Corporation
    • 7.1.4 Pegasystems Inc.
    • 7.1.5 Appian Corporation
    • 7.1.6 Mindtree Ltd
    • 7.1.7 DXC Technology Company
    • 7.1.8 Prima Solutions SA
    • 7.1.9 Majesco
    • 7.1.10 EIS Software Limited
  • *List Not Exhaustive

8. INVESTMENT ANALYSIS

9. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
***In the final report, Asia, Australia, and New Zealand will be studied together as 'Asia Pacific' and Latin America and Middle East and Africa will be considered together as 'Rest of the World'
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Digital Insurance Platform Industry Segmentation

Digital insurance platforms support insurers by enhancing the efficiency of central-core systems and the differentiation of easy-to-compose customer experience. The digital insurance platform providers' prime responsibility is to ensure the proper deployment and integration of digital insurance solutions as per the specific requirements of clients. By type of deployment, the market is divided into on-premise and cloud. The organization size segments include large enterprise and small and medium enterprises.

The digital insurance platform market is segmented by deployment (on-premise, cloud), by organization size (large enterprise, small & medium enterprise), by application (automotive and transportation, home & commercial buildings, life & health, business & enterprise, consumer electronics & industrial machines, travel), by geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Deployment Cloud
On-premise
By Organization Size Large Enterprises
Small and Medium Enterprises
By Application Automotive and Transportation
Home and Commercial Buildings
Life and Health
Business and Enterprise
Consumer Electronics and Industrial Machines
Travel
By Geography*** North America United States
Canada
Europe United Kingdom
Germany
France
Asia China
Japan
India
Australia and New Zealand
Latin America
Middle East and Africa
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Digital Insurance Platform Market Research FAQs

How big is the Digital Insurance Platform Market?

The Digital Insurance Platform Market size is expected to reach USD 148.15 billion in 2025 and grow at a CAGR of 11.51% to reach USD 255.43 billion by 2030.

What is the current Digital Insurance Platform Market size?

In 2025, the Digital Insurance Platform Market size is expected to reach USD 148.15 billion.

Who are the key players in Digital Insurance Platform Market?

IBM Corporation, Microsoft Corporation, Oracle Corporation, Pegasystems Inc. and Appian Corporation are the major companies operating in the Digital Insurance Platform Market.

Which is the fastest growing region in Digital Insurance Platform Market?

North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Digital Insurance Platform Market?

In 2025, the Asia Pacific accounts for the largest market share in Digital Insurance Platform Market.

What years does this Digital Insurance Platform Market cover, and what was the market size in 2024?

In 2024, the Digital Insurance Platform Market size was estimated at USD 131.10 billion. The report covers the Digital Insurance Platform Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Digital Insurance Platform Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Digital Insurance Platform Industry Report

Statistics for the 2025 Digital Insurance Platform market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Digital Insurance Platform 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.