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

The Report Covers Insurance Analytics Companies and the Market is Segmented by Component (Tools and Services), Business Applications (Claims Management, Risk Management, Process Optimization, Customer Management, and Personalization), Deployment Mode (On-Premises and Cloud), End-User (Insurance Companies, Government Agencies, and Third-Party Administrators, Brokers, and Consultancies), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

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

Insurance Analytics Market Size

Insurance Analytics Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 13.29 Billion
Market Size (2030) USD 27.80 Billion
CAGR (2025 - 2030) 15.90 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Medium

Major Players

Insurance Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Insurance Analytics Market Analysis

The Insurance Analytics Market size is estimated at USD 13.29 billion in 2025, and is expected to reach USD 27.80 billion by 2030, at a CAGR of 15.9% during the forecast period (2025-2030).

Companies can identify dubious claims, fraudulent activities, and behavioral patterns using predictive analytics submitted for further research. This will improve the efficiency of claims, policy, and sales processes helping in sound business decisions. For instance customer lifetime value (CLV/CLTV) tool provides the client's informative insights that enable forecasting the possibility of customer behavior and attitude, policy maintenance, or a policy surrender.

  • These solutions are becoming more valuable with AI and machine learning integration. Using AI in the financial sector might boost profitability rates by 31% by 2035, according to a report by Accenture. Additionally, AI will likely make it possible to give tailored financial services to clients, improving the customer experience. As a result, AI-based insurance analytics solutions can help financial organizations cut costs by billions, increase revenues by billions, and decrease fraud. Advanced Analytics (AA) increased the operating profit of the top four performers by 10 to 25 percent in EMEA. They anticipate this impact to grow over the following two years.
  • With the onset of the COVID-19 crisis, structural changes brought on by turbulence, uncertainty, and weak economic activity had essential ramifications for the insurance sector. These changes compelled insurance companies to rethink how they conducted business and interacted with customers. Also, the need for digital interactions and enhanced risk management for personal and health boosted investments in digital and analytics solutions. As a result, market growth was predicted throughout the study period.
  • Data reliability and security are significant due to increased connection and distant accessibility. Concerns about nefarious parties getting access to personal data are very high. Historically, insurance companies have yet to be known to make significant expenditures in infrastructure, so purchasing and maintaining pricey security software will hinder the growth of the Insurance Analytics Market.
  • With the rise in competition in the insurance sector, the need for analytics solutions tends to rise to sustain stiff competition across the global market. Companies are adopting scalable & efficient solutions for managing amplified risk, dealing with catastrophes, and meeting demands of regulatory scrutiny, which are some of the significant factors that propel the adoption of insurance analytics.
  • Furthermore, as consumers are inclined toward getting online quotes & customized insurance solutions 24/7 from different companies, it creates competition among industry firms. Therefore, an increase in competition is accelerating the adoption of insurance analytics among key players in the market.

Insurance Analytics Industry Overview

Insurance Companies can use data analytics to learn more about client behavior and deliver customized solutions per user needs. These Analytics providers sign contracts with various companies to help them with Information Technology Software and services. As businesses shift to digital technologies, they have a wider scope of expansion. The insurance analytics market needs to be more cohesive. Players tend to invest in innovating their product offerings to cater to the insurance industry's changing demands.

  • August 2023 - IBM and FGH Parent, L.P. (with its subsidiaries, “Fortitude Re”) announced business has entered into a USD 450 million deal to change Fortitude Re’s life insurance policy servicing operations with the implementation of AI technology and other automation tools developed to deliver a best-in-class customer experience for policyholders and insurers.
  • February 2023 - LexisNexis Risk Solutions has launched LexisNexis Total Property Understanding, a new comprehensive property intelligence solution to help enable U.S. home insurance underwriters to narrow in on properties needing additional evaluation based on risk, capture complete interior, exterior, and aerial data from those properties through a consumer self-guided survey tool, and access AI-enabled insights to fast-track decision making.

Insurance Analytics Market Leaders

  1. IBM Corporation

  2. LexisNexis Risk Solutions

  3. Hexaware Technologies Limited

  4. Guidewire Software Inc.

  5. Applied Systems Inc.

  6. *Disclaimer: Major Players sorted in no particular order
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Insurance Analytics Market News

  • April 2023 - Guidewire launched the Garmisch solution to provide developers with more self-service tools on the Guidewire Cloud Console. Insurance companies can easily create and implement seamless, digital claims experiences using this solution. With ready-to-use bulk data connectors from top global data platforms, Garmisch reduces the time it takes for an organization to gain insight.
  • February 2023 - MS Amlin Insurance S.E. adopted a data analytics solution by Sapien. Sapiens IDITSuite is an award-winning, end-to-end, modular insurance platform driven by technology. Combined with the insurer's data produces actionable insights that enhance risk selection during underwriting and lower claim expense ratios. MS Amlin Insurance will likely first implement the concept in France and then expand to their markets in Belgium and the Netherlands.

Insurance Analytics 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 Bargaining Power of Suppliers
    • 4.2.2 Bargaining Power of Consumers
    • 4.2.3 Threat of New Entrants
    • 4.2.4 Threat of Substitutes
    • 4.2.5 Intensity of Competitive Rivalry
  • 4.3 Assessment of the Impact of COVID-19 on the Industry
  • 4.4 Market Drivers
    • 4.4.1 Increased Adoption of Advanced Technologies
    • 4.4.2 Rise in Competition among the Insurance Sector
  • 4.5 Market Restraints
    • 4.5.1 Stringent Government Regulations
    • 4.5.2 Privacy and Security Concern

5. MARKET SEGMENTATION

  • 5.1 By Component
    • 5.1.1 Tool
    • 5.1.2 Services
  • 5.2 By Business Application (Qualitative Analysis)
    • 5.2.1 Claims Management
    • 5.2.2 Risk Management
    • 5.2.3 Process Optimization
    • 5.2.4 Customer Management and Personalization
  • 5.3 By Deployment Mode
    • 5.3.1 On-premise
    • 5.3.2 Cloud
  • 5.4 By End-User
    • 5.4.1 Insurance Companies
    • 5.4.2 Government Agencies
    • 5.4.3 Third-party Administrators, Brokers, and Consultancies
  • 5.5 By Geography
    • 5.5.1 North America
    • 5.5.2 Europe
    • 5.5.3 Asia-Pacific
    • 5.5.4 Rest of the World

6. COMPETITIVE LANDSCAPE

  • 6.1 Company Profiles
    • 6.1.1 IBM Corporation
    • 6.1.2 LexisNexis Risk Solutions
    • 6.1.3 Hexaware Technologies Limited
    • 6.1.4 Guidewire Software Inc.
    • 6.1.5 Applied Systems Inc.
    • 6.1.6 Microsoft Corporation
    • 6.1.7 MicroStrategy Incorporated
    • 6.1.8 OpenText Corporation
    • 6.1.9 Oracle Corporation
    • 6.1.10 Sapiens International Corporation
  • *List Not Exhaustive

7. VENDOR MARKET SHARE

8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Insurance Analytics Industry Segmentation

Insurance Analytics is used to streamline the procedures for calculating and evaluating insurance risks and making judgments about insurance products. Insurance brokers and organizations may quickly analyze expenses using insurance analytics tools and solutions, ensure stable financial operations and liquidity, and keep tabs on operational costs like those associated with sales, marketing, operations, or customer service.

The insurance analytics market is segmented by component (tools and services), business applications (claims management, risk management, process optimization, customer management, and personalization), deployment mode (on-premises and cloud), end-user (insurance companies, government agencies, and third-party administrators, brokers, and consultancies), and geography (North America, Europe, Asia-Pacific, and Rest of the World). The market sizes and forecasts are provided regarding value (USD).

By Component Tool
Services
By Business Application (Qualitative Analysis) Claims Management
Risk Management
Process Optimization
Customer Management and Personalization
By Deployment Mode On-premise
Cloud
By End-User Insurance Companies
Government Agencies
Third-party Administrators, Brokers, and Consultancies
By Geography North America
Europe
Asia-Pacific
Rest of the World
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Insurance Analytics Market Research FAQs

How big is the Insurance Analytics Market?

The Insurance Analytics Market size is expected to reach USD 13.29 billion in 2025 and grow at a CAGR of 15.90% to reach USD 27.80 billion by 2030.

What is the current Insurance Analytics Market size?

In 2025, the Insurance Analytics Market size is expected to reach USD 13.29 billion.

Who are the key players in Insurance Analytics Market?

IBM Corporation, LexisNexis Risk Solutions, Hexaware Technologies Limited, Guidewire Software Inc. and Applied Systems Inc. are the major companies operating in the Insurance Analytics Market.

Which is the fastest growing region in Insurance Analytics Market?

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

Which region has the biggest share in Insurance Analytics Market?

In 2025, the North America accounts for the largest market share in Insurance Analytics Market.

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

In 2024, the Insurance Analytics Market size was estimated at USD 11.18 billion. The report covers the Insurance Analytics Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Insurance Analytics Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Insurance Analytics Industry Report

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