Jump to winners | Jump to methodology
Insurtech innovators
Insurance Business recognizes the Global 5-Star Technology and Software Providers of 2024.
During a 15-week process, IB’s research team conducted interviews with brokers and surveyed thousands more within IB’s global network to gain expert insight into what insurance professionals think about the current market and who are the top insurtech companies.
Additional data shows how insurtech is a vital part of the industry and is expected to undergo incredible growth.
Gallagher Re’s Global Insurtech Report 2024 highlights this by focusing on the stage of investments for those firms looking to become top insurtech companies.
Additionally, Market.us data shows:
-
By 2032, the projected value of the insurtech sector is estimated to be US$336.5 billion.
-
By 2032, the sector is projected to undergo a compound annual growth rate (CAGR) of 41%.
Mordor Intelligence predicts a similar steep trajectory but rates the insurtech market at a lesser value:
-
market size in 2024: US$8.63 billion
-
market size in 2029: US$32.47 billion
-
CAGR in 2024-2029: 30.34%
The United States is currently the largest region in the insurtech market, with some estimates reporting that it accounts for around 50% of the global market. Other dominant nations include the United Kingdom, France, and China.
Expert opinion
David Gritz, co-founder and managing director of InsurTech NY, shares an insight into the market-leading standard for the criteria used by IB’s criteria to determine the 5-Star Technology and Software Providers of 2024.
Ease of use
“The obv