Global Generative AI in Insurance Market 2025-2029

Generative AI In Insurance Market 2025-2029

The generative ai in insurance market is forecasted to grow by USD 4298 mn during 2024-2029, accelerating at a CAGR of 40.8% during the forecast period. The report on the generative ai in insurance market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by strategic imperative for hyper-personalization and enhanced customer experience, pursuit of unprecedented operational efficiency and cost optimization, and fostering accelerated product innovation and sophisticated risk modeling.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.

Technavio's generative ai in insurance market is segmented as below:

By Deployment

• Solutions
• Services

By Component

• Cloud
• On premises

By Application

• Claims processing automation
• Automated underwriting
• Fraud detection and prevention
• Virtual assistants and customer support
• Others

By Geographical Landscape

• North America
• Europe
• APAC
• South America
• Middle East and Africa

This study identifies the demand for hyper-personalized customer experiences as one of the prime reasons driving the generative ai in insurance market growth during the next few years. Also, need for enhanced underwriting and risk assessment and mandate for operational efficiency and cost reduction will lead to sizable demand in the market.

The report on the generative ai in insurance market covers the following areas:

• Generative AI In Insurance Market sizing
• Generative AI In Insurance Market forecast
• Generative AI In Insurance Market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading generative ai in insurance market vendors that include Akur8, Amazon Web Services Inc., Archipelago Analytics, Inc., Artivatic, Avaamo Inc., CAPE Analytics, DataRobot Inc., Hyperscience, International Business Machines Corp., Lemonade Inc., LexisNexis Risk Solutions., Microsoft Corp., Nearmap, Planck Resolution Ltd., Quantemplate Technologies Inc., Shift Technology, Tinubu Square SA, Tractable Ltd., and ZestyAI. Also, the generative ai in insurance market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. Show more