(MENAFN- GlobeNewsWire - Nasdaq) The Blockchain in Insurance market is growing rapidly as insurers and insurtech firms adopt blockchain for secure, transparent, and efficient claims, fraud, and policy management.

Austin, Oct. 10, 2025 (GLOBE NEWSWIRE) -- The Blockchain in Insurance Market size was valued at USD 2.74 Billion in 2025E and is projected to reach USD 82.56 Billion by 2033, growing at a CAGR of 53.09% during 2026–2033.

The market is expected to develop significantly through 2033 due to rising need for digital transformations, fraud prevention, and safe, transparent, and effective insurance procedures.

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The U.S. Blockchain in Insurance Market size reached USD 0.86 Billion in 2025E and is projected to reach USD 25.11 Billion by 2033, at a CAGR of 52.46%.

Faster transactions and a growing need for risk prevention and fraud detection are characteristics of the blockchain's expansion in the insurance industry. The highest market share is held by claims management (24%), followed by fraud detection & risk management (15%), underwriting policy administration (15%), and customer identity management (10%) in the same year. Insurtechs and insurers seeking scalable, safe, and simple-to-integrate cloud-based blockchain technologies accounted for 5% of cloud deployments.

Key Players:

• IBM Corporation
• Microsoft Corporation
• Amazon Web Services (AWS)
• Oracle Corporation
• SAP SE
• Consensys
• Deloitte
• Chainlink
• Lemonade
• Nexus Mutual
• B3i Services AG
• Guardtime AS
• EtherRisk Ltd.
• Applied Blockchain
• Cambridge Blockchain
• Auxesis Group
• BitPay
• BlockCypher
• Bitfury
• Block Gemini

Blockchain in Insurance Market Report Scope:

Report Attributes	Details
Market Size in 2025	USD 2.74 Billion
Market Size by 2033	USD 82.56 Billion
CAGR	CAGR of 53.09% From 2026 to 2033
Base Year	2025
Forecast Period	2026-2033
Historical Data	2022-2024
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	. By Technology (Public, Private, Consortium, Hybrid) . By Application (Claims Management, Fraud Detection & Risk Management, Underwriting, Policy Administration, Customer Identity Management) . By Provider (Blockchain Solution Providers, Technology Vendors) . By Organization Size (Large Enterprises, SMEs) . By End User (Insurance Companies, Reinsurers, Brokers, Insurtech Firms) . By Deployment Mode (On-Premise, Cloud-Based)
Customization Scope	Available upon request
Pricing	Available upon request

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Segmentation Analysis:

By Provider, Blockchain Solution Providers Dominated with a 60.15% Share in 2025, while Technology Vendors are Projected to Grow at the Fastest CAGR of 55.45%

Blockchain Solution Providers dominate the market owing to the rising demand for customized blockchain frameworks that streamline claims management, policy validation, and underwriting processes. On the other hand, Technology Vendors are witnessing rapid growth due to the increasing availability of development platforms, middleware, and SaaS-based blockchain tools.

By Technology, Private Blockchain Held the Largest Market Share of 28.50% in 2025, while Hybrid Blockchain is Expected to Grow at the Fastest CAGR of 56.40%

Private Blockchain solutions hold the largest market share, driven by the need for higher control, privacy, and security over policyholder and claims data. Conversely, Hybrid Blockchain technology is gaining traction at an exceptional growth rate as it offers the dual benefits of transparency and restricted access.

By Application, Claims Management Accounted for the Highest Share of 30.20% in 2025, while Fraud Detection & Risk Management is Forecasted to Expand at the Fastest CAGR of 57.35%

Claims Management remains the most prominent application area as blockchain enables secure, automated, and transparent processing through smart contracts. Moreover, blockchain ensures immutable recordkeeping, which boosts trust and compliance across claims operations. Meanwhile, Fraud Detection & Risk Management is emerging as the fastest-growing application segment due to the increasing threat of insurance fraud.

By Organization Size, Large Enterprises Held the Dominant Share of 58.30% in 2025, while SMEs are Anticipated to Grow at the Fastest CAGR of 56.75%

Large Enterprises lead the blockchain adoption curve owing to their greater financial capacity to invest in digital transformation initiatives. These organizations are integrating blockchain with ERP systems, policy management platforms, and regulatory databases to enhance transparency and operational efficiency. In contrast, SMEs are rapidly adopting blockchain at a high CAGR due to the growing availability of affordable Blockchain-as-a-Service (BaaS) models

By End-User, Insurance Companies Held the Dominant Share of 62.40% in 2025, while Insurtech Firms are Expected to Grow at the Fastest CAGR of 58.25%

Insurance Companies account for the dominant market share as they handle massive volumes of customer, claims, and policy data requiring secure and transparent management. Insurtech Firms are experiencing the fastest growth as they leverage blockchain to introduce innovative, decentralized insurance models.

By Deployment Mode, On-Premise Solutions Captured 55.25% Share of the Market in 2025, while Cloud-Based Deployments are Projected to Expand with the Fastest CAGR of 57.10%

On-Premise blockchain deployment continues to hold a substantial market share due to insurers' preference for maintaining full control over sensitive financial and policy data. Data sovereignty concerns and compliance with regional regulations, particularly in financial services, further reinforce the demand for on-premise systems. However, Cloud-Based blockchain deployments are growing rapidly as insurers increasingly seek scalability, flexibility, and cost efficiency.

Regional Insights:

In 2025, North America accounted for 42.75% of the global blockchain in insurance market, recording nearly 1.6 billion blockchain-enabled operations. The region's growth is driven by robust insurer adoption, regulatory backing and increased demand for secure, transparent and automated insurance services.

The Asia Pacific blockchain in insurance market, the fastest-growing region, is projected to expand at a CAGR of 54.72% through 2033. Strong regional growth will be the result of increasing digital insurance initiatives, insurtech innovation and supportive regulation.

Recent Developments:

• In March 2025 , IBM integrated its blockchain insurance solutions with Salesforce, enhancing claims management and policy administration for global insurers. Its platform processed over 500,000 insurance operations, improving transparency, efficiency, and fraud prevention.
• In October 2025 , Microsoft launched Azure Blockchain for Insurance templates and APIs, streamlining claims processing and underwriting. The platform supported 400,000 insurance operations, enabling scalable, secure, and automated workflows for insurers and reinsurers.

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Exclusive Sections of the Report (The USPs):

• ENTERPRISE BLOCKCHAIN ADOPTION – helps you understand the extent of blockchain integration across insurers, tracking adoption rates, the share of blockchain-enabled claims, underwriting, and policy operations, and year-over-year deployment growth.
• BLOCKCHAIN EFFICIENCY & IMPACT – helps you measure operational benefits including transaction time reduction, fraud minimization, cost savings per process, and the execution of automated smart contracts.
• INNOVATION & COLLABORATION TRENDS – helps you uncover emerging opportunities through adoption of blockchain-AI-IoT solutions, cross-industry partnerships, and new protocol/platform deployment within the insurance ecosystem.
• COMPLIANCE & REGULATORY INSIGHTS – helps you gauge how insurers are addressing regulatory challenges, investments in compliance-focused blockchain solutions, and reductions in legal or operational costs.
• TECHNOLOGICAL ADOPTION RATE – helps you identify how quickly blockchain innovations are being implemented, particularly in smart contracts, claims automation, and enterprise-grade insurance solutions.
• COST & OPERATIONAL OPTIMIZATION – helps you assess efficiency gains and financial impact from blockchain adoption, including reductions in manual processing, overheads, and fraud-related losses.

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