India Insurtech Market Size & Outlook, 2023-2030
The insurtech market in India is expected to reach a projected revenue of US$ 8,047.9 million by 2030. A compound annual growth rate of 55.4% is expected of India insurtech market from 2024 to 2030.
Revenue, 2023 (US$M)
$368.5
Forecast, 2030 (US$M)
$8,047.9
CAGR, 2024 - 2030
55.4%
Report Coverage
India
India Insurtech Market, 2017-2030 (US$M)
Global Market
Related Markets
India insurtech market highlights
- The India insurtech market generated a revenue of USD 368.5 million in 2023 and is expected to reach USD 8,047.9 million by 2030.
- The India market is expected to grow at a CAGR of 55.4% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating type in 2023.
- Home is the most lucrative type segment registering the fastest growth during the forecast period.
Insurtech market data book summary
| Market revenue in 2023 | USD 368.5 million |
| Market revenue in 2030 | USD 8,047.9 million |
| Growth rate | 55.4% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Home |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Auto, Business, Health, Home, Specialty, Travel |
| Key market players worldwide | Oscar Health Inc Class A, Shift Technologies Inc Ordinary Shares - Class A, The Travelers Companies Inc, Wipro Ltd ADR, ZhongAn Online P&C Insurance Co Ltd Ordinary Shares - Class H |
Other key industry trends
- In terms of revenue, India accounted for 4.7% of the global insurtech market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China insurtech market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 8,047.9 million by 2030.
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Insurtech Market Scope
Insurtech Market segmentation & scope
Insurtech Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Oscar Health Inc Class A | View profile | 2,400 | 75 Varick Street, 5th Floor, New York, NY, United States, 10013 | www.hioscar.com |
| Shift Technologies Inc Ordinary Shares - Class A | View profile | 970 | 290 Division Street, Suite 400, San Francisco, CA, United States, 94103-4893 | www.shift.com |
| The Travelers Companies Inc | View profile | 33,300 | 485 Lexington Avenue, New York, NY, United States, 10017 | www.travelers.com |
| Wipro Ltd ADR | View profile | 244,707 | Sarjapur Road, Doddakannelli, Bangalore, KA, India, 560 035 | www.wipro.com |
| ZhongAn Online P&C Insurance Co Ltd Ordinary Shares - Class H | View profile | 2,679 | 219 Yuanmingyuan Road, Shanghai, China, People's Republic of, | www.zhongan.com |
India Insurtech Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Insurtech Market Outlook will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 24.53% in 2023.
Horizon Databook has segmented the India insurtech market based on auto, business, health, home, specialty, travel covering the revenue growth of each sub-segment from 2017 to 2030.
- India Insurtech Market Type Outlook (Revenue, USD Million , 2017-2030)
- Auto
- Business
- Health
- Home
- Specialty
- Travel
- Others
- India Insurtech Market Service Outlook (Revenue, USD Million , 2017-2030)
- Consulting
- Support & Maintenance
- Managed Services
- India Insurtech Market Technology Outlook (Revenue, USD Million , 2017-2030)
- Blockchain
- Cloud Computing
- IoT
- Machine Learning
- Robo Advisory
- Others
- India Insurtech Market End Use Outlook (Revenue, USD Million , 2017-2030)
- Automotive
- BFSI
- Government
- Healthcare
- Manufacturing
- Retail
- Transportation
- Others
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Horizon Databook provides a detailed overview of country-level data and insights on the India Insurtech Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into India Insurtech Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
India Insurtech Market, 2017-2030 (US$M)
India insurtech market statistics, by type, 2017-2030 (US$M)
