Insurtech Market Share, Size, Trend during Forecast 2030

The global insurtech market is expected to reach USD 166.7 billion by 2030, at a CAGR of 52% during the forecast period 2021 to 2030. Over the next few years, the global insurtech market is expected to grow a lot. This is because the claims process is getting easier, communication with customers is getting better, and automation is getting easier to use. The word "fintech" gave rise to the portmanteau "Insurtech," which is made up of the words "insurance" and "technology." The insurance industry is going through a lot of changes, which is why both insurtech companies and venture capitalists are investing in the field.