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Europe Insuretech Market
ID: MRFR/BS/58390-HCR
200 Pages
July 2025
Europe InsurTech Market Research Report By Technology (Artificial Intelligence, Blockchain, Internet of Things, Big Data Analytics, Cloud Computing), By Insurance Type (Health Insurance, Life Insurance, Property Insurance, Automobile Insurance), By Distribution Channel (Direct Sales, Brokerage, Online Platforms, Telemarketing), By Customer Type (Individual Customers, Small and Medium Enterprises, Corporates) and By Regional (Germany, UK, France, Russia, Italy, Spain, Rest of Europe)-Forecast to 2035
Industry Developments
The Europe InsurTech Market has recently witnessed significant developments, notably the growing investments and advancements in technology among companies like Kasko, Alan, and WeFox. In September 2023, Kasko announced a partnership with multiple insurance providers to enhance its digital offerings, showcasing the trend towards collaboration within the industry. Alan secured a funding round in August 2023, further solidifying its position in the health insurance space and demonstrating the increasing acceptance of digital health solutions in the European market.
Moreover, Omocom and Brolly have been focusing on expanding their services, tailoring solutions for specific customer segments and emphasizing sustainability.In the mergers and acquisitions front, Lemonade acquired the UK-based insurtech startup in July 2023, aiming to expand its footprint across Europe. Zego has also brought attention with its strategic partnerships with traditional insurers, leading to a boost in market confidence and valuation.
In past years, significant growth has been observed, notably in 2022 when firms like Coya and Trov reported substantial funding increases, underscoring the robust demand for InsurTech solutions across Europe. The European InsurTech sector continues to evolve, driven by innovation and a focus on customer-centric digital experiences.
Report Scope
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2023 | 2.07 (USD Billion) |
| MARKET SIZE 2024 | 2.31 (USD Billion) |
| MARKET SIZE 2035 | 7.5 (USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 11.313% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Kasko, Alan, Omocom, Zywave, Coya, Brolly, Inshur, WeFox, Luko, Next Insurance, Hiscox, Lemonade, Zego, Trov, Bought By Many |
| SEGMENTS COVERED | Technology, Insurance Type, Distribution Channel, Customer Type, Regional |
| KEY MARKET OPPORTUNITIES | AI-driven underwriting solutions, Digital customer engagement platforms, Real-time risk assessment tools, Embedded insurance products, IoT-based insurance offerings |
| KEY MARKET DYNAMICS | Digital transformation acceleration, Regulatory compliance pressure, Customer-centric product innovation, Emerging technologies adoption, Insurer-insurtech collaboration growth |
| COUNTRIES COVERED | Germany, UK, France, Russia, Italy, Spain, Rest of Europe |
FAQs
What is the expected market size of the Europe InsurTech Market by 2035?
The Europe InsurTech Market is expected to reach a valuation of 7.5 billion USD by 2035.
What is the growth rate of the Europe InsurTech Market from 2025 to 2035?
The market is projected to grow at a CAGR of 11.313% from 2025 to 2035.
Which country is forecasted to have the largest market size in the Europe InsurTech Market by 2035?
Germany is anticipated to hold the largest market valuation at 2.2 billion USD by 2035.
What market size is expected for the UK in the Europe InsurTech Market by 2035?
The UK is expected to achieve a market size of 2.4 billion USD by 2035.
What are the projected values for Artificial Intelligence in the Europe InsurTech Market by 2035?
Artificial Intelligence is expected to grow to 2.38 billion USD by 2035.
What major players are driving the Europe InsurTech Market?
Key players include Kasko, Alan, Omocom, and WeFox among others.
How much is the Blockchain segment valued in the Europe InsurTech Market by 2035?
The Blockchain segment is projected to be valued at 1.68 billion USD by 2035.
What is the expected market value of the Internet of Things segment in 2035?
The Internet of Things segment is anticipated to reach 1.95 billion USD by 2035.
What challenges are faced in the growth of the Europe InsurTech Market?
Challenges include regulatory hurdles and integration of new technologies.
What is the projected market size for Italy in the Europe InsurTech Market by 2035?
Italy is expected to reach a market size of 1.0 billion USD by 2035.
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