Europe Insurtech Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The European Insurtech Market is Segmented by Business Model (Carrier, Enabler, and Distributor) and Geography (United Kingdom, Germany, France, Italy, Switzerland, Sweden, Netherlands, and Other Countries). The market sizes and forecasts for the above segments are provided in value (USD Billion) terms.

Europe Insurtech Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Europe Insurtech Market Size

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Europe InsurTech Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 15.00 %
Market Concentration Medium

Major Players

Europe InsurTech Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Europe InsurTech Market with other markets in Financial Services and Investment Intelligence Industry

Insurance

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Europe Insurtech Market Analysis

The Europe InsurTech Market is expected to register a CAGR of greater than 15% during the forecast period.

A new generation of start-ups, accelerated by the pandemic and new customer demand, is fuelling innovation in the European insurtech industry. Insurers and insurtechs are expanding beyond insurance services, including risk analysis, prevention, and replacement services. This transformation is fueled by the availability of contextual data and is shifting the role of insurers into service companies. The combined value of the European insurtech market has increased drastically over the years, and Europe is starting to see the emergence of major insurtech companies in healthcare, P &C insurance, and Software-as-a-Service.

The insurtech industry is evolving, and various players in the value chain are partnering to offer a broader ecosystem of services. The industry is rapidly embedding into platforms and other services, from repairs and maintenance to healthcare services and prevention. Insurance is moving beyond pure risk transfer to risk management and prevention, which is further fueled by an exponential increase in the availability of data. This shift may become a determining factor for some companies in the market in the next decade.

Europe Insurtech Industry Overview

Since a large number of new start-ups are emerging in Europe, the insurance market is quite fragmented. The number is increasing prominently in the United Kingdom, Germany, and France. The emerging players in the industry are Wefox, Clark, Coya, Luko, GetSafe, SimpleInsurance, Omni: US, INZMO, Decado, FRISS, and Thinksurance. The majority of insurtechs are still in the seed stage, and very few are in the growth and maturity stage. Thus, competition exists among the insurtech companies to get seed funding from venture capitalists.

Europe Insurtech Market Leaders

  1. Wefox

  2. Clark

  3. Coya

  4. Luko

  5. FRISS

  6. *Disclaimer: Major Players sorted in no particular order
Europe InsurTech Market Concentration
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Europe Insurtech Market News

  • In October 2021, GetSafe extended its Series B funding round. In addition to its original Series B funding of USD 30 million, the company added another USD 63 million in fresh capital. Overall, GetSafe raised USD 93 million in the Series B round. The investors included an unnamed family office, Earlybird, and Abacon Capital.
  • In June 2021, the Berlin insurance company Wefox Group raised a record-breaking USD 650 million in funds, leading to a USD 3 billion valuation of the company. With this funding, the insurtech start-up's value has grown threefold since tapping investors in 2019.

Europe Insurtech Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS AND DYNAMICS

  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitutes
    • 4.4.5 Intensity of Competitive Rivalry
  • 4.5 Insight on Various Regulatory Trends Shaping the Market
  • 4.6 Insight on Technological Innovations in the Market
  • 4.7 Insights on Venture Capital Investment in Insurtech in Europe
  • 4.8 Impact of COVID-19 on the Market

5. MARKET SEGMENTATION

  • 5.1 By Business Model
    • 5.1.1 Carrier
    • 5.1.2 Enabler
    • 5.1.3 Distributor
  • 5.2 By Geography
    • 5.2.1 United Kingdom
    • 5.2.2 Germany
    • 5.2.3 France
    • 5.2.4 Italy
    • 5.2.5 Switzerland
    • 5.2.6 Sweden
    • 5.2.7 Netherlands
    • 5.2.8 Other Countries

6. COMPETITIVE LANDSCAPE

  • 6.1 Market Concentration Overview
  • 6.2 Company Profiles
    • 6.2.1 Wefox
    • 6.2.2 Clark
    • 6.2.3 Coya
    • 6.2.4 Lukp
    • 6.2.5 GetSafe
    • 6.2.6 Simplesurance
    • 6.2.7 OMNI: US
    • 6.2.8 INZMO
    • 6.2.9 Decado
    • 6.2.10 FRISS
    • 6.2.11 Thinksurance*
  • *List Not Exhaustive

7. MARKET OPPORTUNITY AND FUTURE TREND

8. DISCLAIMER

**Subject to Availability
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Europe Insurtech Industry Segmentation

Insurtech refers to the use of technological innovation to improve the efficiency of the current insurance business model. The growing digitization has led various participants of the insurance industry value chain toward technological innovations. These rapid technological advancements are leading to an expansion of the insurtech market.

The European insurtech market is segmented by business model and geography. By business model, it can be segmented into carrier, enabler, and distributor. By geography, it can be segmented into the United Kingdom, Germany, France, Italy, Switzerland, Sweden, the Netherlands, and Other Countries. The report also offers a complete background analysis of the European insurtech market, including market sizes, market segments, industry trends, and growth drivers. The market sizes and forecasts for the above segments are provided in value (USD Billion) terms.

By Business Model Carrier
Enabler
Distributor
By Geography United Kingdom
Germany
France
Italy
Switzerland
Sweden
Netherlands
Other Countries
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Europe Insurtech Market Research FAQs

What is the current Europe InsurTech Market size?

The Europe InsurTech Market is projected to register a CAGR of greater than 15% during the forecast period (2025-2030)

Who are the key players in Europe InsurTech Market?

Wefox, Clark, Coya, Luko and FRISS are the major companies operating in the Europe InsurTech Market.

What years does this Europe InsurTech Market cover?

The report covers the Europe InsurTech Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe InsurTech Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Europe InsurTech Industry Report

Statistics for the 2025 Europe InsurTech market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe InsurTech analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.