Summary

The global insurance software market size reached USD 4.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.5 Billion by 2033, exhibiting a growth rate (CAGR) of 5.38% during 2025-2033. The increasing need to automate software programs, the rising demand for mobile apps in insurance businesses, and the growing employment of insurance software to collect information about claims represent some of the key factors driving the market.

Insurance software is used to manage insurance business operations, such as underwriting, issuing policies, managing teams, tracking claims, complying with laws, and updating policy information. It comprises insurance agency management, insurance workflow automation management, claim management, mobile apps for agents and representatives, and insurance policy management software. It assists brokers, agents, agencies, and carriers in saving time and money by streamlining their processes. It also aids in accessing, collecting and organizing policyholder agreements, contracts, and private documents. Besides this, it helps organize, monitor, regulate, and coordinate numerous business processes, such as lead management, human resource (HR), marketing, and sales. Insurance is consequently employed for automating policy and rule execution while eliminating human errors. It currently finds applications in programming the claim document process, payments management, monitoring fraudulent activities, and integrating policy administration.


Insurance Software Market Trends:
At present, the increasing demand for insurance software to automate software programs that help companies collate large databases of insurers for various business actions is contributing to the growth of the market. Besides this, there is a rise in the demand for mobile apps in insurance businesses to create custom software for their agents and representatives. The growing utilization of these apps for database and special access and global positioning system (GPS) tracking is also offering a positive market outlook. In addition, solution providers are investing in research and development (R&D) activities to offer insurance solutions with artificial intelligence (AI) technology to boost the efficiency of the insurance process and provide more reliable solutions in claim processing and policy management. They are also focusing on various marketing strategies to expand their customer base. Moreover, the rising employment of insurance software to collect information about claims, such as outstanding claim reserves, event codes, payment components, and relevant dates of claim activities, is propelling the growth of the market. Apart from this, the growing demand for insurance software to examine and compute insurance risk parameters, such as unit and amount insured, system risk, and reinsurance surrender, is positively influencing the market. Additionally, the increasing demand for tech-driven insurance management software to monitor and manage all the current and previous procedures of agencies is bolstering the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global insurance software market, along with forecasts at the global, regional, and country level from 2025-2033. Our report has categorized the market based on type, deployment mode, and end user.

Type Insights:

Life Insurance
Accident and Health Insurance
Property and Casualty Insurance
Others

The report has provided a detailed breakup and analysis of the insurance software market based on the type. This includes life insurance, accident and health insurance, property and casualty insurance, and others. According to the report, accident and health insurance represented the largest segment.

Deployment Mode Insights:

Cloud-based
On-premises

A detailed breakup and analysis of the insurance software market based on the deployment mode has also been provided in the report. This includes cloud-based and on-premises. According to the report, on-premises accounted for the largest market share.

End User Insights:

Brokers
Agencies
Insurance Companies

A detailed breakup and analysis of the insurance software market based on the end user has also been provided in the report. This includes brokers, agencies, and insurance companies. According to the report, insurance companies accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, North America was the largest market for insurance software. Some of factors driving the North America insurance software market included increasing adoption of online platforms by insurance companies, rising demand for insurance software among brokers and agencies, and the growing number of insurance companies across the region.

Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global insurance software market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Accenture Plc, Acturis Ltd., Axxis Systems SA, Buckhill Ltd., EIS Software Limited, Guidewire Software Inc., Mitchell International Inc., Oracle Corporation, Salesforce Inc., SAP SE, Sapiens International Corporation, Solartis Technology Services Pvt Ltd., Vertafore Inc (Roper Technologies Inc.), etc.

Key Questions Answered in This Report:
How has the global insurance software market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global insurance software market?
What are the key regional markets?
Which countries represent the most attractive insurance software markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the end user?
What is the competitive structure of the global insurance software market?
Who are the key players/companies in the global insurance software market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Insurance Software Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Life Insurance
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Accident and Health Insurance
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Property and Casualty Insurance
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Deployment Mode
7.1 Cloud-based
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 On-premises
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by End User
8.1 Brokers
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Agencies
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Insurance Companies
8.3.1 Market Trends
8.3.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Accenture Plc
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Acturis Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Axxis Systems SA
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.4 Buckhill Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 EIS Software Limited
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Guidewire Software Inc.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 Financials
14.3.6.4 SWOT Analysis
14.3.7 Mitchell International Inc
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Oracle Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Salesforce Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 SAP SE
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Sapiens International Corporation
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.12 Solartis Technology Services Pvt. Ltd
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.13 Vertafore Inc (Roper Technologies Inc.)
14.3.13.1 Company Overview
14.3.13.2 Product Portfolio

Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.

List of Figures

Figure 1: Global: Insurance Software Market: Major Drivers and Challenges
Figure 2: Global: Insurance Software Market: Sales Value (in Billion USD), 2019-2024
Figure 3: Global: Insurance Software Market Forecast: Sales Value (in Billion USD), 2025-2033
Figure 4: Global: Insurance Software Market: Breakup by Type (in %), 2024
Figure 5: Global: Insurance Software Market: Breakup by Deployment Mode (in %), 2024
Figure 6: Global: Insurance Software Market: Breakup by End User (in %), 2024
Figure 7: Global: Insurance Software Market: Breakup by Region (in %), 2024
Figure 8: Global: Insurance Software (Life Insurance) Market: Sales Value (in Million USD), 2019 & 2024
Figure 9: Global: Insurance Software (Life Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 10: Global: Insurance Software (Accident and Health Insurance) Market: Sales Value (in Million USD), 2019 & 2024
Figure 11: Global: Insurance Software (Accident and Health Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 12: Global: Insurance Software (Property and Casualty Insurance) Market: Sales Value (in Million USD), 2019 & 2024
Figure 13: Global: Insurance Software (Property and Casualty Insurance) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 14: Global: Insurance Software (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
Figure 15: Global: Insurance Software (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 16: Global: Insurance Software (Cloud-based) Market: Sales Value (in Million USD), 2019 & 2024
Figure 17: Global: Insurance Software (Cloud-based) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 18: Global: Insurance Software (On-premises) Market: Sales Value (in Million USD), 2019 & 2024
Figure 19: Global: Insurance Software (On-premises) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 20: Global: Insurance Software (Brokers) Market: Sales Value (in Million USD), 2019 & 2024
Figure 21: Global: Insurance Software (Brokers) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 22: Global: Insurance Software (Agencies) Market: Sales Value (in Million USD), 2019 & 2024
Figure 23: Global: Insurance Software (Agencies) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 24: Global: Insurance Software (Insurance Companies) Market: Sales Value (in Million USD), 2019 & 2024
Figure 25: Global: Insurance Software (Insurance Companies) Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 26: North America: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 27: North America: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 28: United States: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 29: United States: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 30: Canada: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 31: Canada: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 32: Asia-Pacific: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 33: Asia-Pacific: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 34: China: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 35: China: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 36: Japan: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 37: Japan: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 38: India: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 39: India: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 40: South Korea: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 41: South Korea: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 42: Australia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 43: Australia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 44: Indonesia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 45: Indonesia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 46: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 47: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 48: Europe: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 49: Europe: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 50: Germany: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 51: Germany: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 52: France: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 53: France: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 54: United Kingdom: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 55: United Kingdom: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 56: Italy: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 57: Italy: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 58: Spain: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 59: Spain: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 60: Russia: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 61: Russia: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 62: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 63: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 64: Latin America: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 65: Latin America: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 66: Brazil: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 67: Brazil: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 68: Mexico: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 69: Mexico: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 70: Others: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 71: Others: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 72: Middle East and Africa: Insurance Software Market: Sales Value (in Million USD), 2019 & 2024
Figure 73: Middle East and Africa: Insurance Software Market: Breakup by Country (in %), 2024
Figure 74: Middle East and Africa: Insurance Software Market Forecast: Sales Value (in Million USD), 2025-2033
Figure 75: Global: Insurance Software Industry: Drivers, Restraints, and Opportunities
Figure 76: Global: Insurance Software Industry: Value Chain Analysis
Figure 77: Global: Insurance Software Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Insurance Software Market: Key Industry Highlights, 2024 & 2033
Table 2: Global: Insurance Software Market Forecast: Breakup by Type (in Million USD), 2025-2033
Table 3: Global: Insurance Software Market Forecast: Breakup by Deployment Mode (in Million USD), 2025-2033
Table 4: Global: Insurance Software Market Forecast: Breakup by End User (in Million USD), 2025-2033
Table 5: Global: Insurance Software Market Forecast: Breakup by Region (in Million USD), 2025-2033
Table 6: Global: Insurance Software Market: Competitive Structure
Table 7: Global: Insurance Software Market: Key Players