Insurance, Risk Management & Reinsurance Market Research

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Insurance & Risk Management OVERVIEW

The global insurance industry is undergoing rapid transformation as it adapts to technological disruption, climate risks, regulatory pressures and evolving consumer behavior.  According to Plunkett Research’s latest findings, global insurance premiums reached $7.2 trillion in 2024, and the U.S. industry now employs over 3 million people.  Yet even as the sector grows, it faces new challenges and opportunities across multiple fronts.
1.    Premiums Surge Amid Rising Catastrophic Losses
Severe weather events have driven major premium increases, particularly in home and auto insurance.  In 2024 alone, the U.S. experienced 27 disasters with $1 billion in losses or more, forcing insurers like State Farm and USAA to raise homeowner rates by as much as 25%.  Auto insurance premiums rose 7% to 12% in 2025 as inflation and higher repair costs compounded the problem.
2.    Artificial Intelligence Revolutionizes Underwriting
AI and big data analytics are transforming how insurers assess risk, price policies and detect fraud.  Insurers like Farmers are using AI-powered tools such as Zesty.ai to evaluate wildfire risk, while State Farm and GEICO deploy machine learning to streamline claims and customer service.  In life insurance, companies like John Hancock and Haven Life now use data from wearables, prescription databases and electronic health records to offer personalized pricing based on healthy habits.
3.    Telematics and the Internet of Things Redefine Auto Coverage
Usage-based and “pay-as-you-drive” insurance products are expanding rapidly.  Programs such as Progressive’s Snapshot and Metromile’s mileage-based coverage use in-car sensors to track driving habits, rewarding safe drivers with lower rates.  This trend reflects the broader rise of telematics and the Internet of Things (IoT), where personal data drives more accurate, individualized premiums.
4.    E-Commerce and Direct Sales Reshape Distribution
The rise of digital platforms has disrupted traditional insurance agents.  Consumers now use comparison sites like PolicyGenius and Insure.com to instantly quote and purchase coverage.  Direct-to-consumer leaders such as GEICO and Progressive dominate online auto insurance sales, while even life insurers are expanding into e-commerce channels.  Hybrid sales models combining online convenience with agent expertise are becoming the norm.
5.    Specialized and Niche Insurance Lines Gain Momentum
New risks, from cyberattacks to extreme weather, are fueling growth in specialty lines.  Cyberinsurance, pet insurance, wedding insurance and environmental coverage are among the fastest-growing categories.  Startups like Coalition and Cowbell Cyber are using AI to model and price digital risk. Specialty products often deliver higher margins and faster growth than traditional policies.
6.    Global Expansion and Emerging Markets Drive Growth
Insurers in the U.S., Japan and Europe are targeting emerging economies such as China, India and Indonesia, where low per-capita premiums signal enormous growth potential.  Rising incomes and expanding middle classes are driving demand for life, health and property insurance, as well as microinsurance products designed for first-time policyholders.
7.    Aging Populations Create New Opportunities
As 73 million Americans move into retirement age, insurers are focusing on annuities, long-term care and supplemental Medicare policies.  The U.S. pension and retirement market now exceeds $45 trillion, making older consumers a prime target for insurance-based investment products.
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PLUNKETT PROVIDES UNIQUE ANALYSIS OF THE FOLLOWING TRENDS THAT ARE DRIVING THIS INDUSTRY:

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A complete market research report, including forecasts and market estimates, technologies analysis and developments at innovative firms within the Insurance Industry. Gain vital insights that can help shape strategy for business development, product development and investments.

Key Features:

  • Business trends analysis
  • In-depth industry overview
  • Technology trends analysis
  • Forecasts
  • Spending, investment, and consumption discussions
  • In-depth industry statistics and metrics
  • Industry employment numbers

Additional Key Features Include:

Industry Glossary

Industry Contacts list, including Professional Societies and Industry Associations

Profiles of industry-leading companies

  • U.S. and Global Firms
  • Publicly held, Private and Subsidiaries
  • Executive Contacts
  • Revenues

  • For Public Companies: Detailed Financial Summaries

  • Statistical Tables

Key Questions Answered Include:

  • How is the industry evolving?
  • How is the industry being shaped by new technologies?
  • How is demand growing in emerging markets and mature economies?
  • What is the size of the market now and in the future?
  • What are the financial results of the leading companies?
  • What are the names and titles of top executives?
  • What are the top companies and what are their revenues?

This feature-rich report covers competitive intelligence, market research and business analysis—everything you need to know about the Insurance Industry.

Plunkett Research Provides Unique Analysis of the Following Major Trends and Technologies Affecting the Insurance Industry

  1. Major Trends and Technologies Affecting the Insurance Industry

  2. Introduction to the Insurance Industry

  3. Premiums Soar for Home and Auto Insurance

  4. Sophisticated Risk Management and Prevention Programs Lead to Lower Losses

  5. Risk Managers Seek Certification

  6. Independent Agencies Continue to Dominate Commercial Insurance, but Play a Lesser Role in Personal Lines

  7. Insurance Direct Selling and E-Commerce

  8. Insurance Underwriting Uses Artificial Intelligence (AI)/Policy Holders Allow Their Habits to Be Tracked for Lower Insurance Rates

  9. Artificial Intelligence (AI) Enables Life Insurance Underwriting

  10. States Pick Up Some Wind and Flood Risk for Homeowners/Underwriters Rely on Sophisticated Risk Analysis Technology to Set Rates

  11. No End in Sight to the Growth of Specialized Insurance Lines

  12. Health Sharing Ministries Attract Millions of Members

  13. Annuity Account Managers Create New Product Strategies

  14. Major U.S., Japanese and European Insurance Firms See Vast Promise in Chinese, Southeast Asian and Emerging Markets

  15. Continued Rise in Health Care Costs

  16. Number of Uninsured Americans Remains High

  17. U.S. Affordable Care Act (ACA) of 2010 Rewrote the Rules and Increased Coverage, But Costs Continue to Rise

  18. Employers Fight Rapidly Growing Health Care Premiums/Require Employees to Pay a Significant Share of Costs

  19. Insurance Companies Change Strategies Due to Affordable Care Act (ACA) and Rapidly Rising Costs of Care

  20. Hedge Funds and Private Equity Play a Major Role in Financial Products Including Derivatives, Lending and Insurance (Shadow Banking)

  21. Aging Populations, Baby Boomers Create Opportunities/U.S. Pension Accounts Top $45.8 Trillion

  22. Basel III, Dodd-Frank Act and Volcker Act Increase Regulation/European Solvency II and MiFID 2 Take Effect

  23. Financial Technology (FinTech) Enables Online Lending, Insurance and Robo Advisors

  24. Drones Save Time and Money in a Variety of Industries Including Insurance, Real Estate and Construction

  25. Gig Economy and Self-Driving Cars Pose Insurance Challenges and Underwriting Opportunities

  26. The Future of the Insurance Industry and Risk Management

Plunkett Research Provides In-Depth Tables for the Following Insurance Industry Statistics

  1. Insurance Industry Statistics and Market Size Overview

  2. Assets & Liabilities of U.S. Property-Casualty Insurance Companies: 2022-2nd Quarter 2025

  3. Assets & Liabilities of U.S. Life Insurance Companies: 2022-2nd Quarter 2025

  4. Employers' Costs for Total Compensation and Health Insurance, by Selected Characteristics, U.S.: Selected Years, 2020-2024

  5. The Nation's Health Dollar: 2025 Where It Came From (Projected)

  6. The Nation's Health Dollar: 2025 Where It Went (Estimated)

  7. Number & Percent of Persons of All Ages with and without Health Insurance Coverage, U.S.: 2007-2024

  8. Number & Percent of Persons without Health Insurance Coverage, by Age Group, U.S.: 2000-2024

  9. Medical Care Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2025

  10. Retirement Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2025

  11. Employment in the Insurance Industry, U.S.: 2019-July 2025

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This industry onlyPublication date: Nov 2025
ISBN-13: 978-1-64788-584-7
ISBN-13: 978-1-64788-092-7
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