Embedded Insurance Market Size, Driving Growth and Insights 2024-2030

𝗘𝗺𝗯𝗲𝗱𝗱𝗲𝗱 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝟮𝟬𝟮𝟰-𝟮𝟬𝟯𝟬

The global Embedded Insurance market is on a path of robust growth, characterized by increasing integration of insurance products into consumer purchase journeys across various sectors.

This Report explores the projected market trends, regional growth, major players, market segmentation by type and application, and the key drivers and opportunities shaping the future of embedded insurance.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗚𝗿𝗼𝘄𝘁𝗵

The global Embedded Insurance market was valued at $78,693.58 million in premiums in 2023 and is anticipated to reach $175,216.42 million by 2030, witnessing a compound annual growth rate (CAGR) of 11.63% during the forecast period from 2024 to 2030.

𝗚𝗲𝘁 𝗔𝗻 𝗘𝘅𝗰𝗹𝘂𝘀𝗶𝘃𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗼𝗳 𝗧𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁 𝗮𝘁 𝗧𝗵𝗶𝘀 𝗟𝗶𝗻𝗸 (𝗚𝗲𝘁 𝘁𝗵𝗲 𝗛𝗶𝗴𝗵𝗲𝗿 𝗣𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗳𝗼𝗿 𝗖𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 𝗘𝗺𝗮𝗶𝗹 𝗜𝗗): https://www.pragmamarketresearch.com/reports/121123/embedded-insurance-market-size/inquiry?UTM=OPR24

This growth underscores the increasing demand for seamlessly integrated insurance products that enhance customer experience and broaden insurance coverage.

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀

𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮

The North American market for Embedded Insurance is estimated to increase from $16,710.35 million in 2023 to $35,190.87 million by 2030, at a CAGR of 11.02%. The region's growth is driven by technological advancements and a high degree of consumer acceptance for integrated financial products.

𝗔𝘀𝗶𝗮-𝗣𝗮𝗰𝗶𝗳𝗶𝗰

The Asia-Pacific market for Embedded Insurance is projected to rise from $30,344.52 million in 2023 to $67,650.44 million by 2030, at a CAGR of 11.45%. This growth is fueled by rapid economic development, increasing digital penetration, and a growing middle-class population with a heightened awareness of insurance benefits.

𝗜𝗻𝗾𝘂𝗶𝗿𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝗣𝘂𝗿𝗰𝗵𝗮𝘀𝗲 - https://www.pragmamarketresearch.com/reports/121123/embedded-insurance-market-size/inquiry?UTM=OPR24

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻

𝗕𝘆 𝗧𝘆𝗽𝗲

𝗟𝗶𝗳𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: Embedded life insurance products offer consumers financial protection directly within their purchase journey, such as through loans or mortgages. This seamless integration simplifies the process for customers, ensuring they receive necessary coverage without additional steps.

𝗡𝗼𝗻-𝗟𝗶𝗳𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: This segment includes a wide array of products like health, auto, travel, and property insurance. Non-life insurance policies are often embedded within the purchase of consumer goods, travel services, or real estate transactions, providing immediate protection and enhancing the value of the primary purchase.

𝗕𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻

𝗧𝗿𝗮𝘃𝗲𝗹 𝗮𝗻𝗱 𝗛𝗼𝘀𝗽𝗶𝘁𝗮𝗹𝗶𝘁𝘆: Embedded insurance in travel and hospitality sectors covers trip cancellations, medical emergencies, and other travel-related risks. The market is expected to grow from $18,806.57 million in 2023 to $37,052.72 million by 2030, at a CAGR of 9.67%.

𝗔𝘂𝘁𝗼𝗺𝗼𝘁𝗶𝘃𝗲: Auto insurance is increasingly being embedded in car purchases and rentals, offering immediate coverage and enhancing customer convenience.

𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀: Insurance for electronics, appliances, and other consumer goods is often included at the point of sale, protecting against damage and theft.

𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲: Embedded insurance in real estate transactions includes home insurance policies that protect against various property-related risks.

𝗢𝘁𝗵𝗲𝗿𝘀: This category encompasses a range of other applications, including health insurance embedded within employer benefits packages and event insurance included in ticket purchases.

𝗠𝗮𝗷𝗼𝗿 𝗚𝗹𝗼𝗯𝗮𝗹 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀

Leading companies in the embedded insurance market include:

Travelers Insurance
Cover Genius
Metromile
Qover
Hokodo Services
ELEMENT Insurance
Bsurance
Simplesurance
Kasko
Wrisk Transfer
Extracover
Penni.io

In 2023, the top three vendors accounted for approximately 34.32% of the premium, reflecting a competitive but somewhat consolidated market landscape.

𝗧𝗼 𝗞𝗻𝗼𝘄 𝗺𝗼𝗿𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗶𝘀 𝗿𝗲𝗽𝗼𝗿𝘁 (𝗗𝗲𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝗼𝗻, 𝗧𝗢𝗖 𝗮𝗻𝗱 𝗟𝗶𝘀𝘁 𝗼𝗳 𝗧𝗮𝗯𝗹𝗲𝘀 𝗮𝗻𝗱 𝗙𝗶𝗴𝘂𝗿𝗲𝘀) - https://www.pragmamarketresearch.com/reports/121123/embedded-insurance-market-size?UTM=OPR24

𝗚𝗿𝗼𝘄𝘁𝗵 𝗗𝗿𝗶𝘃𝗲𝗿𝘀 𝗮𝗻𝗱 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝗶𝗲𝘀

𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗰𝗮𝗹 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀: Innovations in AI and machine learning are enabling more personalized and efficient insurance solutions.

𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗗𝗲𝗺𝗮𝗻𝗱 𝗳𝗼𝗿 𝗖𝗼𝗻𝘃𝗲𝗻𝗶𝗲𝗻𝗰𝗲: Consumers increasingly prefer insurance products that are seamlessly integrated into their purchasing processes.

𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽𝘀: Collaborations between insurance providers and companies in various sectors are expanding the reach and appeal of embedded insurance products.

𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗦𝘂𝗽𝗽𝗼𝗿𝘁: Favorable regulatory environments in several regions are facilitating the growth and adoption of embedded insurance.

𝗘𝗺𝗲𝗿𝗴𝗶𝗻𝗴 𝗠𝗮𝗿𝗸𝗲𝘁𝘀: Growing awareness and economic development in emerging markets present significant opportunities for expansion.

𝗖𝗼𝗻𝗰𝗹𝘂𝘀𝗶𝗼𝗻

The embedded insurance market is set for significant growth, driven by technological advancements, consumer demand for convenience, and strategic partnerships across industries. As the market evolves, it presents substantial opportunities for innovation and expansion, making insurance more accessible and integrated into everyday consumer experiences.

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𝗖𝗵𝗮𝗽𝘁𝗲𝗿 𝗢𝘂𝘁𝗹𝗶𝗻𝗲

Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 2: Detailed analysis of Embedded Insurance company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 5: Revenue of Embedded Insurance in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 6: Revenue of Embedded Insurance in country level. It provides sigmate data by Type, and by Application for each country/region.

Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 9: Conclusion.

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