It is forecast that the global insurance market will grow by about ************ U.S. dollars between 2024 and 2029, reaching almost ** trillion U.S. dollars. How have gross premiums written evolved? Gross premiums written signify the total premiums collected by an insurer before deducting reinsurance and other related expenses. Between 2000 and 2020, the value of gross premiums written worldwide had more than doubled. The value of premiums written hit its peak in 2017, at approximately **** billion U.S. dollars, after which it continued to decline for the following years until 2019. However, in 2020, this figure grew by nearly **** percent as compared to the previous year. Which companies dominate the insurance market? In 2022, the leading global insurance companies by revenue were Berkshire Hathaway, Ping An Insurance and China Life Insurance. Considering the market capitalization of the largest insurance companies, Allianz occupied the first position with a valuation of nearly *** billion U.S. dollars. These industry titans, along with others such as AXA, AIA, MetLife, Chubb, etc., collectively shape the global insurance narrative through their extensive reach, diverse offerings, and significant market influence.

UnitedHealth was to be the largest insurer globally as of February 2025, with market capitalization amounting to approximately 481.8 billion U.S. dollars. UnitedHealth Group is a healthcare and insurance company headquartered in Minnesota. Global insurance industry - additional information Insurance is a form of risk management, where a person, called the insured or policy holder, signs a contract with a company, which is called insurer or insurance carrier, in order to protect themselves from sudden losses. The contract between the two parties, called an insurance policy, states the circumstances and conditions under which the insured will be compensated. The major types of insurance are: life/health insurance and property/casualty insurance. The amount of money charged by an insurance company for active coverage is called an insurance premium and is most often paid in monthly installments. In 2022, the value of gross premiums generated by the global insurance industry amounted to more than six trillion U.S. dollars. The United States is the leading country in the insurance market in terms of value of life and non-life direct premiums written, with premiums estimated at 2.96 trillion U.S. dollars for 2022. When ranking global insurers by their total assets, the Chinese insurance company Ping An Insurance placed first, with assets worth approximately 1.5 trillion U.S. dollars. Ping An Insurance was also the company with the strongest brand value among insurance companies in 2023.

Consumer Insurance Experience & Demographic Profile

This dataset provides a detailed view of how individuals engage with insurance products, paired with demographic and lifestyle attributes to enable powerful segmentation, behavioral analysis, and customer journey mapping. By combining real-world insurance experiences with contextual information about each respondent’s background and preferences, this dataset supports a wide range of data-driven decision-making for insurance providers, policy designers, marketing teams, and product strategists.

Value of the Dataset Understanding how consumers perceive and interact with insurance offerings is critical to building products that resonate and services that retain. This dataset offers that visibility across multiple dimensions—capturing not only what type of insurance consumers hold and how they purchased it, but also what drives their satisfaction, loyalty, and likelihood to switch. Paired with demographic details like income, education, family status, and lifestyle, this information becomes a foundation for more personalized outreach, better-designed offerings, and improved customer experiences.

Because the data reflects lived experiences across diverse markets, it is particularly valuable for benchmarking consumer sentiment in emerging economies, identifying service delivery gaps, or evaluating potential uptake of new policy formats such as digital or personalized insurance.

Example Use Cases 1. Targeted Product Design A health insurer looking to launch short-term, digital-first plans could filter this dataset for consumers with low policy tenure, high digital communication preference, and dissatisfaction with current providers. This segment would inform feature design and positioning.

1. Competitive Analysis A provider evaluating churn risk can identify patterns among users who have filed claims but report dissatisfaction—indicating operational areas that may be driving customer loss and where improvements could increase retention.

2. Communication Channel Optimization By analyzing preferred communication methods across different demographic segments, insurers can tailor outreach strategies (e.g., SMS vs. in-app chat) to improve engagement and reduce support costs.

3. Market Expansion & Localization International insurers can explore regional variations in satisfaction drivers, awareness levels, and price sensitivity to refine go-to-market strategies in countries like Senegal, Tanzania, or the UAE.

4. Personalized Policy Offer Design Using data on interest in personalized policies and lifestyle indicators, providers can build customizable offerings for consumers more likely to value flexibility, such as frequent travelers or those with irregular incomes.

Insurance-Specific Fields & Descriptions Current Insurance Type Captures the kind of insurance the individual currently holds, with a focus on health insurance in this dataset.

Purchase Method Indicates how the insurance was obtained—through an agent, online, employer, etc.—to understand acquisition channels.

Policy Length Duration of the current policy, categorized (e.g., less than 1 year, 1–3 years, more than 5 years) to analyze tenure-based behaviors.

Satisfaction Self-reported satisfaction with the current insurance provider, useful for benchmarking sentiment.

Top Factor in Choosing Provider Highlights what influenced the purchase decision most—such as coverage options, customer service, pricing, or brand reputation.

Policy Review Frequency Shows how often individuals revisit their policy details or compare with alternatives, revealing levels of engagement or passive behavior.

Filed Claim A yes/no indicator showing whether the consumer has ever filed a claim, useful for analyzing downstream service experiences.

Claim Satisfaction Measures satisfaction with how past claims were handled, providing insight into operational effectiveness.

Primary Value Sought Captures what consumers value most from their insurance—e.g., peace of mind, financial protection, access to quality care.

Likelihood to Recommend Acts as a proxy for Net Promoter Score (NPS), indicating brand advocacy and potential referral behavior.

Biggest Areas for Improvement Open-ended or multi-select responses identifying where insurers can do better—lower premiums, faster claims, more digital tools, etc.

Preferred Method of Communication Indicates how consumers want to be contacted—via online chat, phone, email, SMS—supporting channel strategy optimization.

Preferred Services Details the types of updates or services consumers want—such as claims status, policy changes, or coverage recommendations.

Insurance Awareness Score Self-reported awareness of how insurance works, including policy options, rights, and terms.

Interest in Personalized Policies Captures whether the individual is open to customized insurance plans, an important indicator for usage-ba...

Kazakhstan Insurance Market: Number of Insurance Company: Life Insurance data was reported at 7.000 Unit in Aug 2018. This stayed constant from the previous number of 7.000 Unit for Jul 2018. Kazakhstan Insurance Market: Number of Insurance Company: Life Insurance data is updated monthly, averaging 7.000 Unit from Jan 2002 (Median) to Aug 2018, with 200 observations. The data reached an all-time high of 8.000 Unit in Jun 2015 and a record low of 1.000 Unit in Nov 2004. Kazakhstan Insurance Market: Number of Insurance Company: Life Insurance data remains active status in CEIC and is reported by Committee for Control and Supervision of the Financial Market and Financial Organizations. The data is categorized under Global Database’s Kazakhstan – Table KZ.Z009: Insurance Market Statistics.

Introduction

Insurance Industry Statistics: ​The global insurance industry plays a pivotal role in providing financial security and stability across various sectors. In 2024, the market was valued at approximately USD 9 trillion, reflecting its substantial economic significance. The United States maintained its position as the largest insurance market, with direct premiums written totaling USD 3.226 trillion, representing 44.9% of the global market. China followed as the second-largest market, contributing USD 723 billion in direct premiums, accounting for 10.1% of the global share.

In terms of premium growth, the industry experienced a 3.3% increase in 2024, with advanced markets contributing 75% of this expansion. The property and casualty (P&C) insurance segment demonstrated robust performance, with global commercial P&C premiums increasing by an average of 8% annually over the past five years. Despite these gains, the industry faced challenges, including a 0.9% decline in global insurance premiums in 2024, marking the first decrease since 2017, attributed to increased market competition.

Additionally, the reinsurance sector experienced an 8% reduction in property catastrophe reinsurance costs globally, influenced by a record supply of capital. These dynamics underscore the complex landscape of the global insurance industry, characterized by growth opportunities alongside competitive and operational challenges.​

Between 2020 and 2022, the value of gross premiums written in all 38 OECD member countries grew by almost *** billion U.S. dollars. In 2022, this figure reached approximately *** trillion U.S. dollars, up from *** trillion U.S. dollars two years earlier. OECD member countries held the lion's share of the global insurance market over the past two decades. Which companies are the global leaders? The value of gross premiums generated by the insurance industry worldwide increased from **** trillion U.S. dollars in 2000 to *** trillion U.S. dollars in 2022. The whole insurance industry is divided into two broad categories – life insurance and non-life insurance (in the United States and Canada called property and casualty insurance). The leading global insurance companies in 2022 in terms of revenue were Berkshire Hathaway, Ping An Insurance, and China Life Insurance. Which country leads the global insurance market? The leading direct premium writing country worldwide was the United States, in terms of the value of written premiums. The non-life insurance sector was larger than the life sector in the United States. The value of both life and non-life insurance premiums in the United States accounted for approximately ** percent of the global market share in 2022. China was ranked second with **** percent of the global market share.

Insurance Statistic: Gross Claim: Life & Non Life Insurance data was reported at 229.310 IDR tn in 2023. This records a decrease from the previous number of 232.830 IDR tn for 2022. Insurance Statistic: Gross Claim: Life & Non Life Insurance data is updated yearly, averaging 123.215 IDR tn from Dec 2008 (Median) to 2023, with 16 observations. The data reached an all-time high of 232.830 IDR tn in 2022 and a record low of 41.268 IDR tn in 2008. Insurance Statistic: Gross Claim: Life & Non Life Insurance data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA004: Insurance Statistics: Market Share.

Global Insurance Platform Market size was valued at USD 128.6 Billion in 2024 and is projected to reach USD 260.03 Billion by 2032 growing at a CAGR of 13.08% from 2025 to 2032.

Global Insurance Platform Market Drivers

Digital Transformation and Online Insurance Adoption: According to McKinsey's 2023 Digital Insurance Survey, 44% of insurance clients prefer digital channels to meet their insurance needs, up from 28% in 2019. Furthermore, Capgemini's World Insurance Report 2023 indicated that 79% of insurance executives are boosting their digital transformation projects, with insurance platforms ranking as a priority investment area.

Increasing Insurance Premium Volume: According to the Swiss Re Institute's worldwide Insurance Report, worldwide insurance premiums would reach USD 6.8 Trillion in 2022, with a projected CAGR of 6.3% through 2025. The property and casualty insurance industry alone showed a 7.1% increase in premiums, highlighting the necessity for sophisticated insurance platforms to handle higher transaction volumes and policy management.

Rising Need for API-First Insurance Solutions:Gartner says that 95% of insurers have either already adopted or plan to adopt API-first architecture by 2024 to enable seamless integration capabilities. The World InsurTech Report indicates that 67% of insurance companies are leveraging API-enabled platforms to create new revenue streams through ecosystem partnerships and improved distribution channels.

In 2023, the global insurance industry wrote life premiums worth approximately *** trillion U.S. dollars, and non-life premiums to the value of around *** trillion U.S. dollars.

Insurance Data Analytics Market Outlook

The global insurance data analytics market size was valued at approximately USD 8.5 billion in 2023 and is projected to reach USD 21.3 billion by 2032, growing at a CAGR of 10.8% from 2024 to 2032. The market's growth is driven by the increasing need for data-driven decision-making processes in the insurance industry, which is fundamentally altering operational efficacies and customer engagement strategies.

One of the primary growth drivers for the insurance data analytics market is the rapid digital transformation sweeping across the insurance industry. Insurers are increasingly adopting advanced data analytics technologies to gain insights into customer behavior, streamline operations, and reduce fraud. The growing volume of data generated from various sources such as social media, IoT devices, and transaction history further fuels the demand for robust analytics solutions that can process and analyze this data efficiently. Moreover, regulatory requirements mandating transparency and better risk management practices contribute to the widespread adoption of data analytics in the insurance sector.

Another significant factor propelling the growth of the insurance data analytics market is the rising incidence of fraudulent activities. Fraudulent claims pose a substantial financial burden on insurance companies, necessitating the deployment of sophisticated analytics tools designed to detect and prevent such activities. Advanced analytics can identify patterns and anomalies that may indicate fraud, thereby enabling insurers to take proactive measures. Additionally, these tools can improve claim processing times and accuracy, leading to enhanced customer satisfaction and reduced operational costs.

The increasing emphasis on personalized customer experiences is also accelerating the adoption of data analytics in the insurance industry. Insurers are leveraging data analytics to understand customer preferences and behaviors better, enabling them to offer tailored products and services. Personalized insurance plans and targeted marketing campaigns not only enhance customer retention but also attract new clients. Furthermore, data analytics facilitates effective customer relationship management by providing insights into customer interactions, thereby allowing insurers to address issues promptly and improve overall service quality.

Regionally, North America dominates the insurance data analytics market, driven by the presence of major insurance companies and advanced technological infrastructure. The region's strong focus on regulatory compliance and risk management further supports market growth. Europe follows closely, with significant investments in data analytics technologies aimed at enhancing operational efficiencies and customer experiences. The Asia Pacific region is expected to witness the highest growth rate during the forecast period, fueled by the rapid digitization of the insurance industry and increasing adoption of analytics solutions. Emerging economies in Latin America and the Middle East & Africa are also embracing data analytics to improve their insurance offerings and compete globally.

Component Analysis

The insurance data analytics market by component is segmented into software and services. The software segment encompasses various analytics platforms, tools, and applications designed to process and analyze large volumes of insurance data. These software solutions are critical for enabling insurers to derive actionable insights, optimize processes, and enhance decision-making capabilities. Advanced analytics software incorporates machine learning and artificial intelligence algorithms to predict trends, assess risks, and identify potential areas of fraud, thereby providing a comprehensive solution for insurance companies.

Within the software segment, predictive analytics tools are gaining significant traction. Predictive analytics utilize historical data to forecast future events and trends, enabling insurers to develop proactive strategies for risk management, customer acquisition, and retention. These tools are instrumental in refining underwriting processes, determining policy pricing, and anticipating claim volumes. Additionally, descriptive and prescriptive analytics tools play a crucial role in analyzing past performance and recommending optimal courses of action, respectively. The growing reliance on these sophisticated analytics tools underscores their importance in driving market growth.

The services segment includes various support and consulting s

Gross Written Premiums: Health data was reported at 8,514,432.553 SAR th in Sep 2023. This records a decrease from the previous number of 8,849,178.998 SAR th for Jun 2023. Gross Written Premiums: Health data is updated quarterly, averaging 4,573,232.320 SAR th from Mar 2009 (Median) to Sep 2023, with 59 observations. The data reached an all-time high of 12,555,928.187 SAR th in Mar 2023 and a record low of 821,126.645 SAR th in Jun 2009. Gross Written Premiums: Health data remains active status in CEIC and is reported by Saudi Central Bank. The data is categorized under Global Database’s Saudi Arabia – Table SA.Z020: Insurance Statistics. [COVID-19-IMPACT]

Taiwan Insurance Penetration: Non Life data was reported at 0.898 % in 2017. This records an increase from the previous number of 0.851 % for 2016. Taiwan Insurance Penetration: Non Life data is updated yearly, averaging 0.840 % from Dec 2001 (Median) to 2017, with 17 observations. The data reached an all-time high of 0.998 % in 2003 and a record low of 0.749 % in 2010. Taiwan Insurance Penetration: Non Life data remains active status in CEIC and is reported by Taiwan Insurance Institute. The data is categorized under Global Database’s Taiwan – Table TW.Z030: Insurance Statistics: Density and Penetration (Annual).

In 2023, American multinational holding company Berkshire Hathaway was the largest global insurance company, with revenues over *** billion U.S. dollars.

Life Insurance: Business in Force: No of Policies: Group: Annuity data was reported at 4,666.000 Unit in May 2018. This records an increase from the previous number of 4,622.000 Unit for Apr 2018. Life Insurance: Business in Force: No of Policies: Group: Annuity data is updated monthly, averaging 2,243.000 Unit from Jun 2016 (Median) to May 2018, with 24 observations. The data reached an all-time high of 4,666.000 Unit in May 2018 and a record low of 211.000 Unit in Jun 2016. Life Insurance: Business in Force: No of Policies: Group: Annuity data remains active status in CEIC and is reported by Taiwan Insurance Institute. The data is categorized under Global Database’s Taiwan – Table TW.Z026: Insurance Statistics: Life Insurance.

It is estimated that the global cyber insurance market will reach ** billion U.S. dollars in size by 2027. Generally, cyber insurance is designed to protect businesses from risks arising from the use of data and technology in business operations.

Allianz was named the largest insurer worldwide by total assets. Chinese insurer Ping An proved to be the second-largest insurer in 2024, with total assets worth approximately *** billion U.S. dollars. It was also the leading insurance brand globally.

In 2023, a total of *** insurance tech deals were executed through means of venture capitalists, private equity and merger and acquisitions deals. This was a drop from the annual total of *** in the previous year.

Mandatory Insurance: Annual Benefit data was reported at 15,811.524 IDR bn in 2023. This records a decrease from the previous number of 18,741.891 IDR bn for 2022. Mandatory Insurance: Annual Benefit data is updated yearly, averaging 14,354.371 IDR bn from Dec 2014 (Median) to 2023, with 10 observations. The data reached an all-time high of 18,741.891 IDR bn in 2022 and a record low of 6,699.245 IDR bn in 2015. Mandatory Insurance: Annual Benefit data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGA001: Insurance Statistics: Key Indicators.

Life Insurance: Non Investment: Investment Receivable data was reported at 143,083.105 IDR mn in Feb 2025. This records a decrease from the previous number of 232,912.238 IDR mn for Jan 2025. Life Insurance: Non Investment: Investment Receivable data is updated monthly, averaging 393,881.542 IDR mn from Jan 2015 (Median) to Feb 2025, with 122 observations. The data reached an all-time high of 1,360,689.682 IDR mn in Dec 2018 and a record low of -69,805.605 IDR mn in Jan 2015. Life Insurance: Non Investment: Investment Receivable data remains active status in CEIC and is reported by Indonesia Financial Services Authority. The data is categorized under Indonesia Premium Database’s Insurance Sector – Table ID.RGF001: Insurance Statistics: Life Insurance: Balance Sheet.

Life Insurance Premiums: First Year: General Insurance: Industry data was reported at 425.092 THB mn in Sep 2018. This records an increase from the previous number of 284.877 THB mn for Jun 2018. Life Insurance Premiums: First Year: General Insurance: Industry data is updated quarterly, averaging 304.219 THB mn from Mar 2016 (Median) to Sep 2018, with 11 observations. The data reached an all-time high of 650.465 THB mn in Dec 2017 and a record low of 121.086 THB mn in Mar 2016. Life Insurance Premiums: First Year: General Insurance: Industry data remains active status in CEIC and is reported by Office of Insurance Commission. The data is categorized under Global Database’s Thailand – Table TH.Z030: Life Insurance Statistics.