Insurance Platform Market Global Forecast To 2030: Policy Administration Solutions To Experience Fastest Growth

(MENAFN- GlobeNewsWire - Nasdaq) Growth is fueled by digital transformation, demand for personalized policies, and cloud solution adoption for scalability. Key challenges involve data security, regulatory hurdles, legacy systems, and implementation costs. Policy administration and disbursement will see rapid growth, driven by efficiency and digital payments. Cloud computing leads with scalability and cost-effectiveness. Asia Pacific shows fast growth, North America maintains market dominance. Major players include Salesforce, IBM, Microsoft, and Google. The report offers insights on market trends, key drivers, restraints, and opportunities.

Dublin, April 16, 2025 (GLOBE NEWSWIRE) -- The "Insurance Platform Market by Offering (Core Insurance, Insurtech), Application (Underwriting, CRM, Data Analytics), Technology (AI, Blockchain, Cloud Computing, Analytics), Insurance Type (Health, Life, P&C, Travel), & End User - Global Forecast to 2030" has been added to ResearchAndMarkets.com's offering.

The insurance platform market is forecasted to expand from USD 116.16 billion in 2025 to USD 207.52 billion by 2030, growing at a CAGR of 12.3%. Key drivers include digital transformation trends, rising demand for personalized insurance policies, and the increasing adoption of cloud-based solutions for enhanced scalability and efficiency. Insurers are utilizing AI, data analytics, and automation to streamline underwriting, claims processing, and customer engagement.

Policy Administration, Collection & Disbursement Application Growth

This sector is anticipated to experience the fastest growth, driven by the need for streamlined operations and improved customer experience. Automation in policy issuance, premium collection, and claims disbursement reduces manual effort and errors. The growth is further accelerated by digital payment adoption and real-time transaction tracking.

Cloud Computing to Dominate Market Share

Cloud computing is expected to hold the largest market share, thanks to its scalability, flexibility, and cost-effectiveness. Cloud platforms support integration with AI, big data analytics, and IoT, providing insurers valuable insights and improved decision-making capabilities. As insurers prioritize digital transformation, cloud-based platforms offer secure, adaptable infrastructures.

Regional Market Dynamics

Asia Pacific is projected to see the fastest growth due to rapid digital transformation, increased internet penetration, and greater insurance adoption in emerging economies. Meanwhile, North America is poised to maintain the largest market share, fueled by established insurance providers, significant investment in digital solutions, and early technology adoption.

Industry Insights and Key Players

Major market players include Salesforce, IBM, Microsoft, Google, Adobe, Oracle, SAP, Pegasystems, Accenture, DXC Technology, Guidewire Software, Duck Creek Technologies, Applied Systems, and many others. These companies play crucial roles in offering innovative insurance platform solutions and services.

The Report Also Provides Insights on the Following:

• Detailed analysis of market drivers such as the acceleration of digital transformation and demand for compliant platforms.
• Restraints including legacy system integration challenges and costs.
• Opportunities in embedded insurance models and demand for digital-first solutions.
• Challenges related to cybersecurity, data management, and market fragmentation.

Key Attributes:

Report Attribute	Details
No. of Pages	419
Forecast Period	2025 - 2030
Estimated Market Value (USD) in 2025	$116.16 Billion
Forecasted Market Value (USD) by 2030	$207.52 Billion
Compound Annual Growth Rate	12.3%
Regions Covered	Global

Key Topics Covered:
Market Dynamics

• Drivers
  • Digital Transformation Across Insurance Value Chain
  • Disruption of Traditional Models by Insurtech Startups
  • Complex Regulations That Drive Demand for Platforms with Built-In Compliance and Automation
• Restraints
  • Legacy System Integration Leading to Implementation Delays and Added Complexity
  • High Modernization Costs
  • Limited Digital Literacy Among Traditional Insurers and Agents
• Opportunities
  • Embedded Insurance for Seamless Integration Via APIs and Microservices
  • Rising Adoption of Usage-based and Parametric Insurance Leading to Demand for IoT-Enabled, Real-Time Platforms
  • Growing Demand for Digital-First Insurance Solutions for Seamless Customer Experience
• Challenges
  • Cybersecurity Risks
  • Market Fragmentation, Leading to Non-Standardization
  • Managing Diverse Data Sources while Ensuring Quality and Governance
• Case Study Analysis
  • Case Study 1: Salesforce Assists Axa Business Insurance in Enhancing Customer Satisfaction
  • Case Study 2: Aon Italy Transforms Insurance and Risk Management Operations Using IBM Cloud Paks
  • Case Study 3: Pacific Life's Digital Transformation with Accenture and Salesforce
  • Case Study 4: Sun Life Financial Establishes Digital Transformation Through Modernization
  • Case Study 5: Arag Group Expedites International Reporting Through Implementation of SAP
  • Case Study 6: QBE Implements Modern Reinsurance Management System with Duck Creek Technologies

Company Profiles

• Salesforce
• Microsoft
• SAP
• Oracle
• Google
• IBM
• Accenture
• Adobe
• Cognizant
• Verisk
• Servicenow
• DXC Technology
• Guidewire Software
• Pegasystems
• Vertafore
• LexisNexis
• Sapiens International Corporation
• Applied Systems
• Majesco
• Appian
• Duck Creek Technologies
• Insurity
• EIS Group
• Bolttech
• Fineos
• Coalition
• Oneshield
• Shift Technology
• Ensuredit
• Sureify
• Socotra
• Hyperexponential
• Prima Solutions
• Britecore
• Zipari
• Insuresoft
• Symbo
• Cogitate Technology Solutions
• Insuredmine
• Trustlayer
• Quantemplate
• Agencysmart
• Jenesis Software
• Perfectquote
• InsuredHQ

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Attachment

• Insurance Platform Market

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