US digital insurance market revenues are forecasted to touch US$23.92 billion in 2025, growing at a CAGR of 20.7% for the period spanning from 2021 to 2025.
Factors such as rapid urbanization, growing smartphone users, rising healthcare expenditure and improving consumer confidence index are expected to drive the market growth. However, growth of the industry would be challenged by surge in competitive pressure and technological infrastructure risk. A few notable trends include high adoption of Internet of Things (IoT), emergence of digital document management and growth in Artificial Intelligence (AI) services applications.
In 2020, the outbreak of COVID-19 pandemic has created favourable impact on the market as the insurance policy purchases by population increased rapidly.
The U.S. digital insurance market by application is segmented into health, auto, life and home. Among them, health held the largest share of the industry revenues due to growth in prevalence of disorders across the country.
Rising number of households, increasing initiatives by government, rising accidents and man-made disasters, improving consumer confidence in digital insurance industry and accelerating personal automobile purchases are supporting the market growth.
Scope of the report:
The report provides a comprehensive analysis of US digital insurance market, segmented into functions (commission & advertising) and applications (health, auto, life and home).
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. LendingTree, Inc., GoHealth, Inc., MediaAlpha, Inc., eHealth, Inc., EverQuote, Inc. and Digital Media Solutions, Inc. are also presented in detail.
Key Target Audience:
Digital Insurance Providers
Client Information Suppliers
Government Bodies & Regulating Authorities