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Innovation in Insurance 2025

Publisher GlobalData
Published Sep 25, 2025
Length 63 Pages
SKU # GBDT20476946

Description

Innovation in Insurance 2025

Summary

This report discusses some of the ways insurance companies are innovating across the insurance value chain. In addition to regional general and life insurance overviews, the report discusses some leading themes and topics in the industry. Key themes mentioned in this report include artificial intelligence, the Internet of Things, cyber insurance, embedded insurance, parametric insurance, electric vehicles, blockchain, and the metaverse.

In 2025, the insurance industry continues to witness a rapid technological transformation, with a growing emphasis on leveraging artificial intelligence, data analytics, and other cutting-edge technologies as part of their digital evolution. These advancements are not only enhancing customer experiences but also enabling insurance providers to connect with younger and more diverse demographics globally. Failure to embrace these innovations, driven by industry frontrunners, may result in insurance companies lagging behind in the competitive landscape.

Scope
  • AI adoption in insurance is progressing cautiously. Consumers see value in AI’s efficiency-especially 24/7 availability and faster claims-but remain wary when it acts without human oversight. Trust improves significantly when AI is used to assist rather than replace human agents. Insurers face challenges including limited in-house expertise, low consumer trust, and slow adoption, yet optimism remains high for AI’s long-term role in enhancing customer experience and operational efficiency.
  • Generative AI tools such as ChatGPT are delivering value in customer service, with over 70% of users satisfied with chatbot accuracy. Insurers can harness this to improve efficiency and response times across claims and support.
  • With 41.9% of global consumers open to buying crypto insurance, demand is strongest for protection against theft and custody risks. Insurers must tailor offerings to crypto-native platforms and consider modular, blockchain-specific cover.
Reasons to Buy
  • Identify areas across the insurance value chain where innovation is taking place and taking effect.
  • Benchmark your innovative efforts compared to leaders within specific areas of development.
  • Understand the positive effects that innovation and new product development are having on clients and consumers in the insurance industry.

Table of Contents

63 Pages
  • Executive summary
    • Leading trends and themes in insurance
    • Venture capital investment activity, Q1 2025
    • Insurance investment value and volume trend
    • Top insurance venture capital investments, Q1 2025
    • Insurance investment activity by region, country, investor, segment
    • Consumer comfort in AI varies by use case
    • Consumers believe AI can bring efficiencies
    • Referral to a human agent is the most important factor for improving confidence
    • AI progress in insurance falls short of industry expectations
    • There is challenges to adopting AI in insurance
    • Recent AI innovations
    • Confidence and familiarity with generative AI tools, like ChatGPT, remains a barrier
    • Users are largely satisfied with chatbot accuracy in insurance
    • Recent generative AI innovations
    • What is agentic AI and why it matters for insurance
    • Agentic AI is still in its early stages
    • Recent agentic AI innovations
    • Cyber insurance is the emerging product with the most growth potential
    • Insurers are best placed to offer cyber insurance
    • Accurate risk assessment is the top barrier to scaling cyber insurance
    • Recent cyber innovations
    • Insurers should prioritize spending on cloud services and developing a hybrid cloud
    • How cloud computing helps tackle the challenge of personalization
    • How cloud computing helps tackle the challenge of insurtechs
    • AXA's Move to the Cloud initiative
    • AIA Singapore partners with Microsoft Azure for full application modernization
    • Consumers expect insurers to encourage green behaviors
    • Insurers must innovate with climate change
    • Brokers are calling on insurers to focus on sustainability
    • Parametric insurance can create big wins for insurers
    • Recent climate innovations
    • Embedded insurance will register the strongest growth in the personal lines space
    • Consumers are open to purchasing from alternative providers
    • Recent embedded insurance innovations
    • 41.9% of global consumers would purchase a crypto insurance policy
    • Insurers must be innovative when offering cryptocurrency insurance
    • Recent cryptocurrency innovations
    • There is a lack of metaverse adoption in businesses
    • Under a quarter of respondents understand blockchain technology
    • EV insurance brings new challenges to the industry
    • Insurers can help improve EV penetration rates
    • Recent electric vehicle innovations
    • Insurers must innovate to target younger demographics
  • Appendix

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