SNS Insider says insurtech market to reach USD 275.72 billion by 2035

The global insurtech market, valued at USD 20.00 billion in 2025, is projected to reach USD 275.72 billion by 2035, reflecting a 30.0% compound annual growth rate as insurers invest in digital platforms, AI and data analytics to process rising claims volumes and curb fraud. Growth is being driven by wider use of digital technologies, changing customer expectations, IoT-connected products and demand for faster, more efficient claims handling, with health insurance holding the largest type share at 31% in 2025 and auto marked as the fastest-growing segment on the back of connected cars, telematics and usage-based insurance. Consulting services led by service at 46%, cloud computing accounted for 34% by technology, and BFSI represented 38% of end-use demand, while managed services, machine learning and healthcare are expected to post the fastest growth in their categories. North America held 47.9% of global revenue in 2025, with the United States contributing about 85% of the region, Europe is forecast to grow from USD 5.62 billion to USD 72.43 billion by 2035, and Asia-Pacific is described as the fastest-growing region as India, China and local startups expand digital and embedded insurance ecosystems. Recent developments highlighted Next Insurance's reinsurance arrangement with Munich Re and AI-powered small business claims platform, as well as ZhongAn Online's push into e-commerce and mobility partnerships across Asia Pacific.