Insurtech market could reach over US$ 150 billion by 2030

CE Noticias Financieras

With the advance of technology, the insurtech market - startups that offer innovative solutions for the insurance sector - is experiencing significant growth. According to a report by research firm Grand View Research, this segment is expected to grow by 52.7% annually between 2023 and 2030, and reach revenues of US$ 152.43 million during this period. Among the main factors driving the expansion of this market is the growth in insurance claims worldwide, which is motivating the sector to invest more and more in the search for solutions that reduce costs and risks for the operation.

Resources such as artificial intelligence, data analysis, blockchain and automation are revolutionizing the way insurance companies operate, enabling faster and more accurate decision-making and greater product customization. Technology is also facilitating integration between startups and market players, with tools that are bringing innovation and agility to the sector and changing the way insurers, brokers and traditional policyholders operate. "The trend is for insurance companies, brokers and policyholders to increasingly adopt technologies to improve operational efficiency, enhancing experiences and final results in a constantly evolving market," says Sylvio Bispo, logistics specialist and CEO of SmartLoad.

The company is the first cargo mobility insurtech in Brazil and one of the startups seeking to strengthen the transport insurance sector with the use of high technology. One of the solutions developed by the insurtech, SmartBox 3.0, aims to simplify shipment communication and activate cargo insurance, being the only tool on the market with 100% accuracy, with no flaws in goods endorsements. SmartDriver, another SmartLoad solution, enables more efficient risk management, helping the logistics ecosystem to avoid fraud. "We have seen an increase in demand for innovative solutions such as ours, which help mitigate risks and losses for brokers, insurers and carriers," he concludes.

Advertising Space