
Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 52.81 Billion |
Market Size (2030) | USD 70.67 Billion |
CAGR (2025 - 2030) | 6.00 % |
Market Concentration | Medium |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
US Insurtech Market Analysis
The US Insurtech Market size is estimated at USD 52.81 billion in 2025, and is expected to reach USD 70.67 billion by 2030, at a CAGR of greater than 6% during the forecast period (2025-2030).
The United States is the largest insurance market globally, and it has been a hotbed for insurtech companies. The market has experienced substantial growth in recent years, with investments pouring into insurtech startups. Insurtech has attracted significant venture capital investment. Insurtech companies leverage various technologies such as artificial intelligence (AI), machine learning (ML), big data analytics, the Internet of Things (IoT), and blockchain to streamline processes, enhance underwriting accuracy, automate claims handling, and personalize insurance products. Insurtech has facilitated the emergence of new insurance models, such as peer-to-peer (P2P) insurance, on-demand insurance, and usage-based insurance (UBI). These models offer more tailored coverage options and flexible pricing based on individual risk profiles. Insurtech companies in the United States focus on improving customer experience by offering user-friendly digital platforms, simplified policy purchasing processes, and faster claims settlement.
The post-COVID-19 scenario of the United States insurtech market is experiencing significant growth. Insurtech companies are leveraging technology to provide innovative solutions and streamline insurance processes. Factors like increased digitization, rising customer expectations, and the need for personalized insurance offerings are driving the market.
US Insurtech Market Trends
Surged Funding towards Insurtech Companies
The Insurtech companies are flourishing. The companies in the insurtech sector raised over USD 27 billion in private funding in just over 350 deals in the previous year. The pandemic has accelerated the industry’s digital transformation by at least five years forcing incumbents to open or enhance digital distribution channels and to make corresponding upgrades to back-office capabilities. The demand for digital solutions is increasing across the insurance value chain, from quote issuance to claim settlement, as our interviews with insurtech C-suite executives showed.

Non Life Insurance is Increasing with Higher Rate
The increase in non-life insurance, also known as property and casualty insurance, is indeed contributing to the growth of the Insurtech market in the United States. The surge in non-life insurance is prompting insurers to adopt insurtech solutions for various reasons. Advanced data analytics and artificial intelligence enable more accurate risk assessment, helping insurers better understand and price policies for non-life coverages like property and casualty. This enhances underwriting precision and reduces the likelihood of losses. Insurtech facilitates improved customer experiences. Digital platforms and mobile apps enable policyholders to purchase, manage, and claim insurance seamlessly, enhancing customer satisfaction and loyalty. Furthermore, insurtech supports automation in claims processing. This expedites the settlement process for non-life insurance claims, reducing administrative costs and increasing overall operational efficiency.

US Insurtech Industry Overview
The United States insurtech industry is fragmented, with many players in the market. The United States insurtech industry is highly competitive, with the presence of both international and domestic players. Some players currently dominate the market, which includes Gusto, Oscar, Bright Health, Clover Health, and Root Insurance. The market studied presents opportunities for growth during the period, which is expected to further drive the market competition. With multiple players holding significant shares, the market studied is competitive.
US Insurtech Market Leaders
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Gusto
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Oscar
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Bright Health
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Clover Health
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Root Insurance
- *Disclaimer: Major Players sorted in no particular order

US Insurtech Market News
- March 2023: Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance acquired by Vista Equity Partners, a leading global investment firm.
- January 2023: Encora, a global next-gen product engineering provider, acquired Excellarate, a global technology solutions and services company. The acquisition enhances Encora's capabilities in AI, Analytics, and Automation and deepens Encora's industry expertise in HealthTech, FinTech, and InsurTech.
US Insurtech Industry Segmentation
Insurtech refers to technological innovations that are created and implemented to improve the efficiency of the insurance industry. Insurtech powers the creation, distribution, and administration of the insurance business. Macro trends have been driving change in the insurance risk landscape. And along with coping with new and emerging risks, the industry began to shift, in recent years, to include new business models and disruptive newcomers. The United States insurance market can be segmented by the types of insurance provided, which include life and non-life, and by a business model, which includes enabler, carrier, and distributor.
The report offers the value (in USD) for the above segments.
By Business Model | Carrier |
Enabler | |
Distributor | |
By Insurance Type | Life Insurance |
Non-Life Insurance |
US Insurtech Market Research FAQs
How big is the US Insurtech Market?
The US Insurtech Market size is expected to reach USD 52.81 billion in 2025 and grow at a CAGR of greater than 6% to reach USD 70.67 billion by 2030.
What is the current US Insurtech Market size?
In 2025, the US Insurtech Market size is expected to reach USD 52.81 billion.
Who are the key players in US Insurtech Market?
Gusto, Oscar, Bright Health, Clover Health and Root Insurance are the major companies operating in the US Insurtech Market.
What years does this US Insurtech Market cover, and what was the market size in 2024?
In 2024, the US Insurtech Market size was estimated at USD 49.64 billion. The report covers the US Insurtech Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the US Insurtech Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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US Insurtech Industry Report
Statistics for the 2025 US Insurtech market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US 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.