According to HTF MI, “Global Insurtech for Health Insurance Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2030”. The Global Insurtech for Health Insurance Market is anticipated to grow at a compound annual growth rate (CAGR) of 15.16% from 2024 to 2030, reaching USD 936.21 Million in 2024 and USD 2183.3 Million by 2030.
The term “insurtech” refers to the use of cutting-edge technology to problems or possibilities in the insurance value chain. It involves making use of data, analytics, process automation for goods, and process advancements to provide more organised interactions between insurers and their holders. As a result, it is seen as a technical advancement that has increased the efficiency of the insurance sector. Multiple reasons primarily drive the US health insurance insurtech sector. The need for insurtech in the United States is being driven by growth in the health insurance industry’s income, expanding health insurance demand across several locations, and a rise in the desire of insurance firms for tech-driven solutions. The market is becoming more competitive as a result of regulatory and cost-cutting constraints on enterprises.
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Key and developing players who have been highlighted as part of the coverage include GoHealth, Policygeniu, Next Insurance, Lemonade, Bright Health, OutSystems, DXC Technology Company, Zipari, Majesco, Clearcover, MetroMile, Shift Technology, Oscar Insurance.
Insurtech for Health Insurance
Market Breakdown by Applications:
- Critical Illness Insurance, Maternity Insurance, Individual Insurance, Senior Citizens Insurance, Other
Market Breakdown by Types:
- product development & underwriting, sales & marketing, policy administration collection & disbursement, claims management
Market Drivers
- One of the most notable and lucrative industries for generating new income is the health insurance industry in the US. In the USA, there is an increasing demand for private health insurance plans, which fuels lucrative new income streams for the companies
Market Trend
- The health insurance business is starting to change due to digitization. Payers in the United States are gradually moving towards digital, but they lag behind other businesses in terms of consumer satisfaction, automation, and the application of artificia
Market Opportunities
- The US insurance sector has undergone a technological revolution in the previous ten years. As insurers have grown their dependence on technology for cost and process optimisation, particularly for health insurance, emerging capabilities like telematics,
Market Challenges
- Insurance firms’ cost structures have altered, but not entirely. Although certain businesses, notably in the health insurance industry, have made great progress in cutting their spending, most of the cuts are still far from being noticeable. Every step of
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Key Market Segmentation:
The report has categorized the Insurtech for Health Insurance market based on type, distribution channel, and region.
Report Scope
The Market size value in 2024 (USD 936.21 Million)
Revenue Forecast by 2033 (USD 2183.3 Million)
Growth Rate CAGR Of (15.16%)
Historical Years (2019-2023)
Base Year (2023)
Estimated Year (2024)
Short-Term Projection Year (2030)
Regions Covered (North America, Europe, the Middle East and Africa, Latin America, and the rest of the world)
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Note: With the help of the Growth Overview Charts, Historical Period Analysis, Forecast Period Analysis, Main Market Segmentation, Leading Key Market Players, TOC, List of Figures, and List of Tables in this report, you can get a thorough overview of the market.
Competitive Landscape:
Along with studying the profiles of the key players, the industry’s competitive environment has also been examined. Players profiled are GoHealth, Policygeniu, Next Insurance, Lemonade, Bright Health, OutSystems, DXC Technology Company, Zipari, Majesco, Clearcover, MetroMile, Shift Technology, Oscar Insurance
Key highlights of the report:
- Insurtech for Health Insurance Market Performance (2019-2023)
- Insurtech for Health Insurance Market Outlook (2024-2030)
- Insurtech for Health Insurance Market Trends
- Insurtech for Health Insurance Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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