Europe Insurtech Market Size, Share & Industry Trends Analysis Report By Component, By End-use, By Technology, By Type (Health, Specialty, Travel, Auto, Home, and Business), By Country and Growth Forecast, 2021 - 2027

The Europe Insurtech Market would witness market growth of 47.9% CAGR during the forecast period (2021-2027).

Insurtech refers to the use of new technology to improve the insurance sector by lowering costs for consumers and insurance firms while improving customer experience. Additionally, customers may study, compare products, and buy insurance online without having to visit a local agent due to the use of Insurtech. Furthermore, insurtech companies have simplified the process of purchasing all sorts of insurance by providing quicker and more convenient solutions.

A number of insurtech firms are forming agreements with insurance firms to provide blockchain-based solutions. For example, Amodo, an insurtech firm, formed a relationship with Galileo Platforms Limited, a technology firm, in December 2020. The companies would leverage blockchain technologies to enable insurance companies to deliver new insurance products and alter their client experience as a result of their relationship. Cryptocurrency-based payments are becoming more widely accepted by insurance providers. For example, Metromile, an auto insurance business, stated in December 2021 that subscribers would be able to pay premiums and claim payouts using bitcoin. This initiative should assist the organization to improve its market position.

The insurance business in the United Kingdom is undergoing significant transformation. The general insurance industry in the United Kingdom is intensely competitive, but it is plagued by low profitability, which is exacerbated by the prevalence of online distribution channels. In addition, insurers acknowledge that emerging technologies are transforming their consumers' everyday lives. They also acknowledge that this transition is having an impact on their own industry, which is experiencing an ecosystem disruption brought on by both new entrants and established competitors. As a result, insurers are under increasing pressure to innovate and redefine themselves before the disruption has a negative impact on their bottom line.

FinTech businesses are revolutionizing the banking industry, and now the insurance industry is embracing the digital revolution. For millennials and other customers who have become accustomed to managing their entire financial lives through their mobile devices, insurance is just another aspect of their finances that can be managed through an app on their phone. Real-time interaction and online access to services handled across their mobile and personal devices are now expected.

The Germany market dominated the Europe Insurtech Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,768.4 million by 2027. The UK market is estimated to witness a CAGR of 46.7% during (2021 - 2027). Additionally, The France market would exhibit a CAGR of 49% during (2021 - 2027).

Based on Component, the market is segmented into Solution and Services (Managed Services, Consulting, and Support & Maintenance). Based on End-use, the market is segmented into BFSI, Automotive, Healthcare, Retail & eCommerce, Government & Defense, Transportation, Manufacturing, and Others. Based on Technology, the market is segmented into Cloud Computing, IoT & Machine Learning, Blockchain, Robo Advisory, and Others. Based on Type, the market is segmented into Health, Specialty, Travel, Auto, Home, and Business & Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

Free Valuable Insights: The Global Insurtech Market Size will Hit $39.4 Billion by 2027, at a CAGR of 48.9%

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wipro Limited, DXC Technology Company, Oscar Health, Inc., Majesco, Insurance Technology Services, OutSystems, Shift Technology, Quantemplate, Inc., and Damco Group.

Scope of the Study

Market Segments Covered in the Report:

By Component

• Solution
• Services
  • Managed Services
  • Consulting
  • Support & Maintenance

By End-use

• BFSI
• Automotive
• Healthcare
• Retail & eCommerce
• Government & Defense
• Transportation
• Manufacturing
• Others

By Technology

• Cloud Computing
• IoT & Machine Learning
• Blockchain
• Robo Advisory
• Others

By Type

• Health
• Specialty
• Travel
• Auto
• Home
• Business & Others

By Country

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Key Market Players

List of Companies Profiled in the Report:

• Wipro Limited
• DXC Technology Company
• Oscar Health, Inc.
• Majesco
• Insurance Technology Services
• OutSystems
• Shift Technology
• Quantemplate, Inc.
• Damco Group

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Insurtech Market, by Component
1.4.2 Europe Insurtech Market, by End-use
1.4.3 Europe Insurtech Market, by Technology
1.4.4 Europe Insurtech Market, by Type
1.4.5 Europe Insurtech Market, by Country
1.5 Methodology for the research

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Sep – 2022, Mar) Leading Players

Chapter 4. Europe Insurtech Market by Component
4.1 Europe Solution Market by Country
4.2 Europe Services Market by Country
4.3 Europe Insurtech Market by Services Type
4.3.1 Europe Managed Services Market by Country
4.3.2 Europe Consulting Market by Country
4.3.3 Europe Support & Maintenance Market by Country

Chapter 5. Europe Insurtech Market by End-use
5.1 Europe BFSI Market by Country
5.2 Europe Automotive Market by Country
5.3 Europe Healthcare Market by Country
5.4 Europe Retail & eCommerce Market by Country
5.5 Europe Government & Defense Market by Country
5.6 Europe Transportation Market by Country
5.7 Europe Manufacturing Market by Country
5.8 Europe Others Market by Country

Chapter 6. Europe Insurtech Market by Technology
6.1 Europe Cloud Computing Market by Country
6.2 Europe IoT & Machine Learning Market by Country
6.3 Europe Blockchain Market by Country
6.4 Europe Robo Advisory Market by Country
6.5 Europe Others Market by Country

Chapter 7. Europe Insurtech Market by Type
7.1 Europe Health Market by Country
7.2 Europe Specialty Market by Country
7.3 Europe Travel Market by Country
7.4 Europe Auto Market by Country
7.5 Europe Home Market by Country
7.6 Europe Business & Others Market by Country

Chapter 8. Europe Insurtech Market by Country
8.1 Germany Insurtech Market
8.1.1 Germany Insurtech Market by Component
8.1.1.1 Germany Insurtech Market by Services Type
8.1.2 Germany Insurtech Market by End-use
8.1.3 Germany Insurtech Market by Technology
8.1.4 Germany Insurtech Market by Type
8.2 UK Insurtech Market
8.2.1 UK Insurtech Market by Component
8.2.1.1 UK Insurtech Market by Services Type
8.2.2 UK Insurtech Market by End-use
8.2.3 UK Insurtech Market by Technology
8.2.4 UK Insurtech Market by Type
8.3 France Insurtech Market
8.3.1 France Insurtech Market by Component
8.3.1.1 France Insurtech Market by Services Type
8.3.2 France Insurtech Market by End-use
8.3.3 France Insurtech Market by Technology
8.3.4 France Insurtech Market by Type
8.4 Russia Insurtech Market
8.4.1 Russia Insurtech Market by Component
8.4.1.1 Russia Insurtech Market by Services Type
8.4.2 Russia Insurtech Market by End-use
8.4.3 Russia Insurtech Market by Technology
8.4.4 Russia Insurtech Market by Type
8.5 Spain Insurtech Market
8.5.1 Spain Insurtech Market by Component
8.5.1.1 Spain Insurtech Market by Services Type
8.5.2 Spain Insurtech Market by End-use
8.5.3 Spain Insurtech Market by Technology
8.5.4 Spain Insurtech Market by Type
8.6 Italy Insurtech Market
8.6.1 Italy Insurtech Market by Component
8.6.1.1 Italy Insurtech Market by Services Type
8.6.2 Italy Insurtech Market by End-use
8.6.3 Italy Insurtech Market by Technology
8.6.4 Italy Insurtech Market by Type
8.7 Rest of Europe Insurtech Market
8.7.1 Rest of Europe Insurtech Market by Component
8.7.1.1 Rest of Europe Insurtech Market by Services Type
8.7.2 Rest of Europe Insurtech Market by End-use
8.7.3 Rest of Europe Insurtech Market by Technology
8.7.4 Rest of Europe Insurtech Market by Type

Chapter 9. Company Profiles
9.1 Wipro Limited
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Partnerships, Collaborations, and Agreements:
9.2 DXC Technology Company
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Segmental and Regional Analysis
9.2.4 Recent strategies and developments:
9.2.4.1 Partnerships, Collaborations, and Agreements:
9.3 Oscar Health, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Recent strategies and developments:
9.3.3.1 Partnerships, Collaborations, and Agreements:
9.4 Majesco
9.4.1 Company Overview
9.4.2 Recent strategies and developments:
9.4.2.1 Partnerships, Collaborations, and Agreements:
9.4.2.2 Product Launches and Product Expansions:
9.4.2.3 Acquisition and Mergers:
9.5 Insurance Technology Services (ITS)
9.5.1 Company Overview
9.6 OutSystems
9.6.1 Company Overview
9.6.2 Recent strategies and developments:
9.6.2.1 Partnerships, Collaborations, and Agreements:
9.6.2.2 Geographical Expansions:
9.7 Shift Technology
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
9.7.2.1 Partnerships, Collaborations, and Agreements:
9.8 Quantemplate, Inc.
9.8.1 Company Overview
9.8.2 Recent strategies and developments:
9.8.2.1 Partnerships, Collaborations, and Agreements:
9.9 Damco Group
9.9.1 Company Overview
9.9.2 Recent strategies and developments:
9.9.2.1 Partnerships, Collaborations, and Agreements:

TABLE 1 Europe Insurtech Market, 2017 - 2020, USD Million
TABLE 2 Europe Insurtech Market, 2021 - 2027, USD Million
TABLE 3 Partnerships, Collaborations and Agreements – Insurtech Market
TABLE 4 Product Launches And Product Expansions – Insurtech Market
TABLE 5 Acquisition and Mergers – Insurtech Market
TABLE 6 Geographical Expansions – Insurtech Market
TABLE 7 Europe Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 8 Europe Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 9 Europe Solution Market by Country, 2017 - 2020, USD Million
TABLE 10 Europe Solution Market by Country, 2021 - 2027, USD Million
TABLE 11 Europe Services Market by Country, 2017 - 2020, USD Million
TABLE 12 Europe Services Market by Country, 2021 - 2027, USD Million
TABLE 13 Europe Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 14 Europe Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 15 Europe Managed Services Market by Country, 2017 - 2020, USD Million
TABLE 16 Europe Managed Services Market by Country, 2021 - 2027, USD Million
TABLE 17 Europe Consulting Market by Country, 2017 - 2020, USD Million
TABLE 18 Europe Consulting Market by Country, 2021 - 2027, USD Million
TABLE 19 Europe Support & Maintenance Market by Country, 2017 - 2020, USD Million
TABLE 20 Europe Support & Maintenance Market by Country, 2021 - 2027, USD Million
TABLE 21 Europe Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 22 Europe Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 23 Europe BFSI Market by Country, 2017 - 2020, USD Million
TABLE 24 Europe BFSI Market by Country, 2021 - 2027, USD Million
TABLE 25 Europe Automotive Market by Country, 2017 - 2020, USD Million
TABLE 26 Europe Automotive Market by Country, 2021 - 2027, USD Million
TABLE 27 Europe Healthcare Market by Country, 2017 - 2020, USD Million
TABLE 28 Europe Healthcare Market by Country, 2021 - 2027, USD Million
TABLE 29 Europe Retail & eCommerce Market by Country, 2017 - 2020, USD Million
TABLE 30 Europe Retail & eCommerce Market by Country, 2021 - 2027, USD Million
TABLE 31 Europe Government & Defense Market by Country, 2017 - 2020, USD Million
TABLE 32 Europe Government & Defense Market by Country, 2021 - 2027, USD Million
TABLE 33 Europe Transportation Market by Country, 2017 - 2020, USD Million
TABLE 34 Europe Transportation Market by Country, 2021 - 2027, USD Million
TABLE 35 Europe Manufacturing Market by Country, 2017 - 2020, USD Million
TABLE 36 Europe Manufacturing Market by Country, 2021 - 2027, USD Million
TABLE 37 Europe Others Market by Country, 2017 - 2020, USD Million
TABLE 38 Europe Others Market by Country, 2021 - 2027, USD Million
TABLE 39 Europe Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 40 Europe Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 41 Europe Cloud Computing Market by Country, 2017 - 2020, USD Million
TABLE 42 Europe Cloud Computing Market by Country, 2021 - 2027, USD Million
TABLE 43 Europe IoT & Machine Learning Market by Country, 2017 - 2020, USD Million
TABLE 44 Europe IoT & Machine Learning Market by Country, 2021 - 2027, USD Million
TABLE 45 Europe Blockchain Market by Country, 2017 - 2020, USD Million
TABLE 46 Europe Blockchain Market by Country, 2021 - 2027, USD Million
TABLE 47 Europe Robo Advisory Market by Country, 2017 - 2020, USD Million
TABLE 48 Europe Robo Advisory Market by Country, 2021 - 2027, USD Million
TABLE 49 Europe Others Market by Country, 2017 - 2020, USD Million
TABLE 50 Europe Others Market by Country, 2021 - 2027, USD Million
TABLE 51 Europe Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 52 Europe Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 53 Europe Health Market by Country, 2017 - 2020, USD Million
TABLE 54 Europe Health Market by Country, 2021 - 2027, USD Million
TABLE 55 Europe Specialty Market by Country, 2017 - 2020, USD Million
TABLE 56 Europe Specialty Market by Country, 2021 - 2027, USD Million
TABLE 57 Europe Travel Market by Country, 2017 - 2020, USD Million
TABLE 58 Europe Travel Market by Country, 2021 - 2027, USD Million
TABLE 59 Europe Auto Market by Country, 2017 - 2020, USD Million
TABLE 60 Europe Auto Market by Country, 2021 - 2027, USD Million
TABLE 61 Europe Home Market by Country, 2017 - 2020, USD Million
TABLE 62 Europe Home Market by Country, 2021 - 2027, USD Million
TABLE 63 Europe Business & Others Market by Country, 2017 - 2020, USD Million
TABLE 64 Europe Business & Others Market by Country, 2021 - 2027, USD Million
TABLE 65 Europe Insurtech Market by Country, 2017 - 2020, USD Million
TABLE 66 Europe Insurtech Market by Country, 2021 - 2027, USD Million
TABLE 67 Germany Insurtech Market, 2017 - 2020, USD Million
TABLE 68 Germany Insurtech Market, 2021 - 2027, USD Million
TABLE 69 Germany Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 70 Germany Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 71 Germany Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 72 Germany Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 73 Germany Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 74 Germany Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 75 Germany Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 76 Germany Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 77 Germany Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 78 Germany Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 79 UK Insurtech Market, 2017 - 2020, USD Million
TABLE 80 UK Insurtech Market, 2021 - 2027, USD Million
TABLE 81 UK Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 82 UK Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 83 UK Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 84 UK Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 85 UK Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 86 UK Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 87 UK Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 88 UK Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 89 UK Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 90 UK Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 91 France Insurtech Market, 2017 - 2020, USD Million
TABLE 92 France Insurtech Market, 2021 - 2027, USD Million
TABLE 93 France Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 94 France Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 95 France Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 96 France Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 97 France Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 98 France Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 99 France Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 100 France Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 101 France Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 102 France Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 103 Russia Insurtech Market, 2017 - 2020, USD Million
TABLE 104 Russia Insurtech Market, 2021 - 2027, USD Million
TABLE 105 Russia Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 106 Russia Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 107 Russia Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 108 Russia Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 109 Russia Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 110 Russia Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 111 Russia Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 112 Russia Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 113 Russia Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 114 Russia Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 115 Spain Insurtech Market, 2017 - 2020, USD Million
TABLE 116 Spain Insurtech Market, 2021 - 2027, USD Million
TABLE 117 Spain Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 118 Spain Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 119 Spain Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 120 Spain Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 121 Spain Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 122 Spain Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 123 Spain Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 124 Spain Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 125 Spain Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 126 Spain Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 127 Italy Insurtech Market, 2017 - 2020, USD Million
TABLE 128 Italy Insurtech Market, 2021 - 2027, USD Million
TABLE 129 Italy Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 130 Italy Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 131 Italy Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 132 Italy Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 133 Italy Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 134 Italy Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 135 Italy Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 136 Italy Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 137 Italy Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 138 Italy Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 139 Rest of Europe Insurtech Market, 2017 - 2020, USD Million
TABLE 140 Rest of Europe Insurtech Market, 2021 - 2027, USD Million
TABLE 141 Rest of Europe Insurtech Market by Component, 2017 - 2020, USD Million
TABLE 142 Rest of Europe Insurtech Market by Component, 2021 - 2027, USD Million
TABLE 143 Rest of Europe Insurtech Market by Services Type, 2017 - 2020, USD Million
TABLE 144 Rest of Europe Insurtech Market by Services Type, 2021 - 2027, USD Million
TABLE 145 Rest of Europe Insurtech Market by End-use, 2017 - 2020, USD Million
TABLE 146 Rest of Europe Insurtech Market by End-use, 2021 - 2027, USD Million
TABLE 147 Rest of Europe Insurtech Market by Technology, 2017 - 2020, USD Million
TABLE 148 Rest of Europe Insurtech Market by Technology, 2021 - 2027, USD Million
TABLE 149 Rest of Europe Insurtech Market by Type, 2017 - 2020, USD Million
TABLE 150 Rest of Europe Insurtech Market by Type, 2021 - 2027, USD Million
TABLE 151 Key Information – Wipro Limited
TABLE 152 key information – DXC Technology Company
TABLE 153 key information – Oscar Health, Inc.
TABLE 154 key information – Majesco
TABLE 155 key information – Insurance Technology Services
TABLE 156 key information – OutSystems
TABLE 157 key information – Shift Technology
TABLE 158 key information – Quantemplate, Inc.
TABLE 159 key information – Damco Group
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2017-2021)
FIG 4 Key Strategic Move: (Partnerships, Collaborations and Agreements: 2018, Sep – 2022, Mar) Leading Players
FIG 5 Recent strategies and developments: Majesco
FIG 6 Recent strategies and developments: OutSystems