The global artificial intelligence (AI) in insurance market size accounted for USD 8.13 billion in 2024, grew to USD 10.82 billion in 2025 and is projected to surpass around USD 141.44 billion by 2034, representing a healthy CAGR of 33.06% between 2024 and 2034.
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
3.1. Market Snapshot
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Analysis
4.3.3. Downstream Buyer Analysis
5.1. COVID-19 Landscape: Artificial Intelligence (AI) in Insurance Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
8.1. Artificial Intelligence (AI) in Insurance Market, by Offering, 2024-2034
8.1.1. Hardware
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Services
8.1.3.1. Market Revenue and Forecast (2021-2034)
9.1. Artificial Intelligence (AI) in Insurance Market, by Deployment Mode, 2024-2034
9.1.1. On-premise
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Cloud
9.1.2.1. Market Revenue and Forecast (2021-2034)
10.1. Artificial Intelligence (AI) in Insurance Market, by Technology, 2024-2034
10.1.1. Machine Learning
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. Natural Language Processing
10.1.2.1. Market Revenue and Forecast (2021-2034)
10.1.3. Computer Vision
10.1.3.1. Market Revenue and Forecast (2021-2034)
10.1.4. Others
10.1.4.1. Market Revenue and Forecast (2021-2034)
11.1. Artificial Intelligence (AI) in Insurance Market, by Organization Size, 2024-2034
11.1.1. Large Enterprises
11.1.1.1. Market Revenue and Forecast (2021-2034)
11.1.2. SMEs
11.1.2.1. Market Revenue and Forecast (2021-2034)
12.1. Artificial Intelligence (AI) in Insurance Market, by End User, 2024-2034
12.1.1. Life and Health Insurance
12.1.1.1. Market Revenue and Forecast (2021-2034)
12.1.2. Property and Casualty Insurance
12.1.2.1. Market Revenue and Forecast (2021-2034)
13.1. Artificial Intelligence (AI) in Insurance Market, by Application, 2024-2034
13.1.1. Fraud Detection and Credit Analysis
13.1.1.1. Market Revenue and Forecast (2021-2034)
13.1.2. Customer Profiling and Segmentation
13.1.2.1. Market Revenue and Forecast (2021-2034)
13.1.3. Product and Policy Design
13.1.3.1. Market Revenue and Forecast (2021-2034)
13.1.4. Underwriting and Claims Assessment
13.1.4.1. Market Revenue and Forecast (2021-2034)
14.1. North America
14.1.1. Market Revenue and Forecast, by Offering (2021-2034)
14.1.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.1.3. Market Revenue and Forecast, by Technology (2021-2034)
14.1.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.1.5. Market Revenue and Forecast, by End User (2021-2034)
14.1.6. Market Revenue and Forecast, by Application (2021-2034)
14.1.7. U.S.
14.1.7.1. Market Revenue and Forecast, by Offering (2021-2034)
14.1.7.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.1.7.3. Market Revenue and Forecast, by Technology (2021-2034)
14.1.7.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.1.8. Market Revenue and Forecast, by End User (2021-2034)
14.1.8.1. Market Revenue and Forecast, by Application (2021-2034)
14.1.9. Rest of North America
14.1.9.1. Market Revenue and Forecast, by Offering (2021-2034)
14.1.9.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.1.9.3. Market Revenue and Forecast, by Technology (2021-2034)
14.1.9.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.1.10. Market Revenue and Forecast, by End User (2021-2034)
14.1.11. Market Revenue and Forecast, by Application (2021-2034)
14.1.11.1.
14.2. Europe
14.2.1. Market Revenue and Forecast, by Offering (2021-2034)
14.2.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.2.3. Market Revenue and Forecast, by Technology (2021-2034)
14.2.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.2.5. Market Revenue and Forecast, by End User (2021-2034)
14.2.6. Market Revenue and Forecast, by Application (2021-2034)
14.2.7.
14.2.8. UK
14.2.8.1. Market Revenue and Forecast, by Offering (2021-2034)
14.2.8.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.2.8.3. Market Revenue and Forecast, by Technology (2021-2034)
14.2.9. Market Revenue and Forecast, by Organization Size (2021-2034)
14.2.10. Market Revenue and Forecast, by End User (2021-2034)
14.2.10.1. Market Revenue and Forecast, by Application (2021-2034)
14.2.11. Germany
14.2.11.1. Market Revenue and Forecast, by Offering (2021-2034)
14.2.11.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.2.11.3. Market Revenue and Forecast, by Technology (2021-2034)
14.2.12. Market Revenue and Forecast, by Organization Size (2021-2034)
14.2.13. Market Revenue and Forecast, by End User (2021-2034)
14.2.14. Market Revenue and Forecast, by Application (2021-2034)
14.2.14.1.
14.2.15. France
14.2.15.1. Market Revenue and Forecast, by Offering (2021-2034)
14.2.15.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.2.15.3. Market Revenue and Forecast, by Technology (2021-2034)
14.2.15.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.2.16. Market Revenue and Forecast, by End User (2021-2034)
14.2.16.1. Market Revenue and Forecast, by Application (2021-2034)
14.2.17. Rest of Europe
14.2.17.1. Market Revenue and Forecast, by Offering (2021-2034)
14.2.17.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.2.17.3. Market Revenue and Forecast, by Technology (2021-2034)
14.2.17.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.2.18. Market Revenue and Forecast, by End User (2021-2034)
14.2.18.1. Market Revenue and Forecast, by Application (2021-2034)
14.3. APAC
14.3.1. Market Revenue and Forecast, by Offering (2021-2034)
14.3.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.3.3. Market Revenue and Forecast, by Technology (2021-2034)
14.3.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.3.5. Market Revenue and Forecast, by End User (2021-2034)
14.3.6. Market Revenue and Forecast, by Application (2021-2034)
14.3.7. India
14.3.7.1. Market Revenue and Forecast, by Offering (2021-2034)
14.3.7.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.3.7.3. Market Revenue and Forecast, by Technology (2021-2034)
14.3.7.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.3.8. Market Revenue and Forecast, by End User (2021-2034)
14.3.9. Market Revenue and Forecast, by Application (2021-2034)
14.3.10. China
14.3.10.1. Market Revenue and Forecast, by Offering (2021-2034)
14.3.10.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.3.10.3. Market Revenue and Forecast, by Technology (2021-2034)
14.3.10.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.3.11. Market Revenue and Forecast, by End User (2021-2034)
14.3.11.1. Market Revenue and Forecast, by Application (2021-2034)
14.3.12. Japan
14.3.12.1. Market Revenue and Forecast, by Offering (2021-2034)
14.3.12.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.3.12.3. Market Revenue and Forecast, by Technology (2021-2034)
14.3.12.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.3.12.5. Market Revenue and Forecast, by End User (2021-2034)
14.3.12.6. Market Revenue and Forecast, by Application (2021-2034)
14.3.13. Rest of APAC
14.3.13.1. Market Revenue and Forecast, by Offering (2021-2034)
14.3.13.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.3.13.3. Market Revenue and Forecast, by Technology (2021-2034)
14.3.13.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.3.13.5. Market Revenue and Forecast, by End User (2021-2034)
14.3.13.6. Market Revenue and Forecast, by Application (2021-2034)
14.4. MEA
14.4.1. Market Revenue and Forecast, by Offering (2021-2034)
14.4.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.4.3. Market Revenue and Forecast, by Technology (2021-2034)
14.4.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.4.5. Market Revenue and Forecast, by End User (2021-2034)
14.4.6. Market Revenue and Forecast, by Application (2021-2034)
14.4.7. GCC
14.4.7.1. Market Revenue and Forecast, by Offering (2021-2034)
14.4.7.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.4.7.3. Market Revenue and Forecast, by Technology (2021-2034)
14.4.7.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.4.8. Market Revenue and Forecast, by End User (2021-2034)
14.4.9. Market Revenue and Forecast, by Application (2021-2034)
14.4.10. North Africa
14.4.10.1. Market Revenue and Forecast, by Offering (2021-2034)
14.4.10.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.4.10.3. Market Revenue and Forecast, by Technology (2021-2034)
14.4.10.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.4.11. Market Revenue and Forecast, by End User (2021-2034)
14.4.12. Market Revenue and Forecast, by Application (2021-2034)
14.4.13. South Africa
14.4.13.1. Market Revenue and Forecast, by Offering (2021-2034)
14.4.13.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.4.13.3. Market Revenue and Forecast, by Technology (2021-2034)
14.4.13.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.4.13.5. Market Revenue and Forecast, by End User (2021-2034)
14.4.13.6. Market Revenue and Forecast, by Application (2021-2034)
14.4.14. Rest of MEA
14.4.14.1. Market Revenue and Forecast, by Offering (2021-2034)
14.4.14.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.4.14.3. Market Revenue and Forecast, by Technology (2021-2034)
14.4.14.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.4.14.5. Market Revenue and Forecast, by End User (2021-2034)
14.4.14.6. Market Revenue and Forecast, by Application (2021-2034)
14.5. Latin America
14.5.1. Market Revenue and Forecast, by Offering (2021-2034)
14.5.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.5.3. Market Revenue and Forecast, by Technology (2021-2034)
14.5.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.5.5. Market Revenue and Forecast, by End User (2021-2034)
14.5.6. Market Revenue and Forecast, by Application (2021-2034)
14.5.7. Brazil
14.5.7.1. Market Revenue and Forecast, by Offering (2021-2034)
14.5.7.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.5.7.3. Market Revenue and Forecast, by Technology (2021-2034)
14.5.7.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.5.8. Market Revenue and Forecast, by End User (2021-2034)
14.5.8.1. Market Revenue and Forecast, by Application (2021-2034)
14.5.9. Rest of LATAM
14.5.9.1. Market Revenue and Forecast, by Offering (2021-2034)
14.5.9.2. Market Revenue and Forecast, by Deployment Mode (2021-2034)
14.5.9.3. Market Revenue and Forecast, by Technology (2021-2034)
14.5.9.4. Market Revenue and Forecast, by Organization Size (2021-2034)
14.5.9.5. Market Revenue and Forecast, by End User (2021-2034)
14.5.9.6. Market Revenue and Forecast, by Application (2021-2034)
15.1. SAP SE
15.1.1. Company Overview
15.1.2. Product Offerings
15.1.3. Financial Performance
15.1.4. Recent Initiatives
15.2. IBM Corporation
15.2.1. Company Overview
15.2.2. Product Offerings
15.2.3. Financial Performance
15.2.4. Recent Initiatives
15.3. Salesforce, Inc.
15.3.1. Company Overview
15.3.2. Product Offerings
15.3.3. Financial Performance
15.3.4. Recent Initiatives
15.4. Oracle Corporation
15.4.1. Company Overview
15.4.2. Product Offerings
15.4.3. Financial Performance
15.4.4. Recent Initiatives
15.5. SAS Institute Inc.
15.5.1. Company Overview
15.5.2. Product Offerings
15.5.3. Financial Performance
15.5.4. Recent Initiatives
15.6. Microsoft Corporation
15.6.1. Company Overview
15.6.2. Product Offerings
15.6.3. Financial Performance
15.6.4. Recent Initiatives
15.7. Applied Systems
15.7.1. Company Overview
15.7.2. Product Offerings
15.7.3. Financial Performance
15.7.4. Recent Initiatives
15.8. Shift Technology
15.8.1. Company Overview
15.8.2. Product Offerings
15.8.3. Financial Performance
15.8.4. Recent Initiatives
15.9. SimpleFinance
15.9.1. Company Overview
15.9.2. Product Offerings
15.9.3. Financial Performance
15.9.4. Recent Initiatives
15.10. OpenText Corporation
15.10.1. Company Overview
15.10.2. Product Offerings
15.10.3. Financial Performance
15.10.4. Recent Initiatives
16.1. Primary Research
16.2. Secondary Research
16.3. Assumptions
17.1. About Us
17.2. Glossary of Terms
For questions or customization requests, please reach out to us at sales@precedenceresearch.com
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client
Report Description
Get a Sample