Try our corporate solution for free!
+1 (212) 419-5770

Forecast of global market size for Insurtech industry 2016-2020, by improvement type

The estimated available global market size for claims processing improvements in 2020 was 72.53 billion U.S. dollars. Blockchain, Artificial Intelligence (AI) and the Internet of Things (IoT) are growing in importance for the insurance industry, because they enable insurers to underwrite and process claims more efficiently.

Insurtech investments

Insurtech refers to the use of technology by insurance providers to increase efficiency of processes and gather data from customers. Investment into Insurtech has been increasing since 2013, with a slight drop between 2017 and 2018. The majority of funding transactions have been in the seed/angel investment stage, because it’s an emerging area.

Future of the insurance industry

Most Insurtech companies wish to collaborate with traditional insurance companies, rather than disrupt the industry. This means that the insurance industry as a whole will likely grow as the Insurtech market grows, rather than it being replaced by this emerging market.

Projected market size for Insurtech industry globally in 2016 and 2020, by type of improvement

Exclusive Premium statistic

You need a Single Account for unlimited access.

  • Full access to 1m statistics

  • Incl. source references

  • Available to download in PNG, PDF, XLS format

Single Account

$39 $59 per month *
in the first 12 months
33% Discount until October 31st
*Duration: 12 months, billed annually, single license

Access to this and all other statistics on 80,000 topics from

$468 / Year
$708 / Year

Show detailed source information?
Register for free
Already a member?
Log in

Release date

November 2016



Survey time period


Statista Accounts: Access All Statistics. Starting from $468 / Year
Basic Account
Get to know the platform

You only have access to basic statistics.
This statistic is not included in your account.

Single Account
The ideal entry-level account for individual users
  • Instant access to 1m statistics
  • Download in XLS, PDF & PNG format
  • Detailed references
$59 $39 / Month *
in the first 12 months
Corporate Account
Full access

Corporate solution including all features.

* All products require an annual contract; Prices do not include sales tax.

Statistics on "Insurtech"

Further Content: You might find this interesting as well

Statista Accounts: Access All Statistics. Starting from $468 / Year
Learn more about how Statista can support your business.