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Industry Landscape
The Insurtech industry is experiencing rapid growth, driven by technological advancements like AI and mobile apps. It focuses on digital-first solutions, enhanced customer experience, and data-driven personalization. Traditional insurers are adopting insurtech innovations, leading to a dynamic and competitive landscape with increasing market consolidation and diversification into new product lines. Social impact models are also gaining traction.
Total Assets Under Management (AUM)
Total Premiums Written in United States
~Approximately $1.3 trillion (for US P&C and Life combined, as of 2022-2023 estimates)
(5-7% CAGR)
- Property & Casualty insurance premiums are a major component.
- Life insurance premiums contribute significantly.
- Health insurance also forms a large part of the total.
Total Addressable Market
1.3 trillion USD