US Digital Insurance Market: Insights, Trends & Forecast with Potential Impact of COVID-19 (2021-2025)

US Digital Insurance Market: Insights, Trends & Forecast with Potential Impact of COVID-19 (2021-2025)

  • Koncept Analytics
  • June 2021
  • Financial Services
  • 96 pages

Report Description

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
  • End Users
  • Consulting Firms 
  • Investment Banks
  • Government Bodies & Regulating Authorities

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Table of Content

1. Market Overview
1.1 Introduction
1.2 Digital vs Traditional Insurance
1.3 Applications
1.4 Benefits

2. Impact of COVID-19
2.1 Introduction
2.2 Impact on Digital Insurance Aggregators

3. The U.S. Digital Insurance Market Analysis
3.1 The U.S. Digital Insurance Market Value
3.2 The U.S. Digital Insurance Market Value Forecast
3.3 The U.S. Digital Insurance Market Value by Functions
3.3.1 The U.S. Digital Insurance Commission Market Value 
3.3.2 The U.S. Digital Insurance Commission Market Value Forecast
3.3.3 The U.S. Digital Insurance Advertising Market Value
3.3.4 The U.S. Digital Insurance Advertising Market Value Forecast
3.4 The U.S. Digital Insurance Market Value by Applications
3.4.1 The U.S. Digital Health Insurance Market Value
3.4.2 The U.S. Digital Health Insurance Market Value Forecast
3.4.3 The U.S. Digital Health Insurance Market Value by Functions
3.4.4 The U.S. Digital Health Insurance Commission Market Value
3.4.5 The U.S. Digital Health Insurance Commission Market Value Forecast
3.4.6 The U.S. Digital Health Insurance Advertising Market Value
3.4.7 The U.S. Digital Health Insurance Advertising Market Value Forecast
3.4.8 The U.S. Digital Auto Insurance Market Value
3.4.9 The U.S. Digital Auto Insurance Market Value Forecast
3.4.10 The U.S. Digital Auto Insurance Market Value by Functions
3.4.11 The U.S. Digital Auto Insurance Advertising Market Value
3.4.12 The U.S. Digital Auto Insurance Advertising Market Value Forecast
3.4.13 The U.S. Digital Auto Insurance Commission Market Value
3.4.14 The U.S. Digital Auto Insurance Commission Market Value Forecast
3.4.15 The U.S. Digital Life Insurance Market Value
3.4.16 The U.S. Digital Life Insurance Market Value Forecast
3.4.17 The U.S. Digital Life Insurance Market Value by Functions
3.4.18 The U.S. Digital Life Insurance Commission Market Value
3.4.19 The U.S. Digital Life Insurance Commission Market Value Forecast
3.4.20 The U.S. Digital Life Insurance Advertising Market Value
3.4.21 The U.S. Digital Life Insurance Advertising Market Value Forecast
3.4.22 The U.S. Digital Home Insurance Market Value
3.4.23 The U.S. Digital Home Insurance Market Value Forecast
3.4.24 The U.S. Digital Home Insurance Market Value by Functions
3.4.25 The U.S. Digital Home Insurance Commission Market Value
3.4.26 The U.S. Digital Home Insurance Commissions Market Value Forecast
3.4.27 The U.S. Digital Home Insurance Advertising Market Value
3.4.28 The U.S. Digital Home Insurance Advertising Market Value Forecast

4. Market Dynamics
4.1 Growth Drivers
4.1.1 Rapid Urbanization
4.1.2 Growing Smartphone Users 
4.1.3 Rising Healthcare Expenditure
4.1.4 Improving Consumer Confidence Index 
4.2 Key Trends and Developments 
4.2.1 High Adoption of Internet of Things (IoT)
4.2.2 Emergence of Digital Document Management
4.2.3 Growth in Artificial Intelligence (AI) Services Applications
4.3 Challenges
4.3.1 Surge in Competitive Pressure 
4.3.2 Technological Infrastructure Risk

5. Competitive Landscape
5.1 The U.S. Digital Insurance Market
5.1.1 Key Players – Revenues Comparison 
5.1.2 Key Players – Market Cap Comparison 

6. Company Profiles
6.1 LendingTree, Inc.
6.1.1 Business Overview
6.1.2 Financial Overview
6.1.3 Business Strategies
6.2 GoHealth, Inc.
6.2.1 Business Overview
6.2.2 Financial Overview
6.2.3 Business Strategies
6.3 MediaAlpha, Inc.
6.3.1 Business Overview
6.3.2 Financial Overview
6.3.3 Business Strategies
6.4 eHealth, Inc.
6.4.1 Business Overview
6.4.2 Financial Overview
6.4.3 Business Strategies
6.5 EverQuote, Inc.
6.5.1 Business Overview
6.5.2 Financial Overview
6.6 Digital Media Solutions, Inc.
6.6.1 Business Overview
6.6.2 Financial Overview
6.6.3 Business Strategies

List of Tables

Digital vs Traditional Insurance
Key Players – Revenues Comparison (2020)

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