Europe’s online insurance industry anticipates significant growth with rising insurtech investments.

March 21, 2024
1 min read



Europe Online Insurance Industry Growth

TLDR:

Key Points:

  • Europe Online Insurance Market is projected to grow significantly from EUR 108.54 billion in 2024 to EUR 155.02 billion by 2029, with a CAGR of 7.39%.
  • The industry is experiencing transformative dynamics driven by digital channels and Insurtech investments.

The “Europe Online Insurance – Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 – 2029” report highlights the significant growth anticipated in the Europe Online Insurance Market. Influenced by technology advancements and the impact of the COVID-19 pandemic, the market is expected to expand substantially in the coming years.

Key elements of the article include:

  • The shift towards digital channels that are reshaping the insurance landscape in Europe.
  • The rise of price comparison websites influencing consumer decisions and strategic partnerships.
  • Integration of digital tools like chatbots and videoconferencing in response to the pandemic.
  • Record-breaking funding of EUR 2.5 billion in the European insurance sector in 2021.
  • The landscape of the industry with traditional insurance companies partnering with tech entities and insurtech firms challenging the status quo.

Overall, the report provides insights into the market’s present conditions, strategic industry activities, and opportunities for growth, aiming to inform stakeholders, potential investors, and industry players about the evolving European Online Insurance Market.


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