Yadira Carter

Global insurtech was projected to grow from $46.5B in 2026 to $460.2B by 2035, driven by insurance digitization and AI-led platforms reshaping core processes.
AI, machine learning, cloud, blockchain, and IoT were described as transforming underwriting, claims, fraud detection, risk evaluation, and customer engagement across insurance.
Cloud-based platforms led deployment, while health insurance digitization was the fastest-growing application. Embedded and usage-based insurance models stood out as a key trend.
The market spanned health, auto, home, travel, specialty, and business insurance, serving BFSI, healthcare, automotive, retail, government, manufacturing, and transportation users.
North America was expected to hold ~40% share, supported by digital infrastructure, regulatory backing, investment, and strong adoption of AI underwriting and embedded insurance.
The text also highlighted restraints: cybersecurity risks, fragmented regulations, costly legacy integration, privacy c

Insurtech Market Eyes Massive Global Growth

The insurer shifted beyond risk transfer, using digital tools and data-driven insights to prevent losses before claims, as commercial clients sought measurable operational value.
An executive said pre-claim mitigation helped stop injuries, disruption, and wider business impacts before they happened, not just cover unpredictable losses financially.
Connected devices, IoT, and telematics gave insurers real-time exposure data. In commercial auto and property, alerts flagged drowsy driving or leaks before losses worsened.
AI processed granular data at scale, spotting patterns and outliers so underwriters could focus on judgment-heavy decisions while maintaining accuracy and consistency for partners.
For workplace safety, wearables tracked each worker's motion continuously, while computer vision scored strain, monitored worksites, and detected unsafe behaviors in real time.
Risk engineers used those insights to guide mitigation, improve safety, and potentially underwriting outcomes, wh