Europe Online Insurance Market Trends

Statistics for the 2023 & 2024 Europe Online Insurance market trends, created by Mordor Intelligence™ Industry Reports. Europe Online Insurance trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Europe Online Insurance Industry

This section covers the major market trends shaping the Europe Online Insurance Market according to our research experts:

Covid-19 accelerated the Digital insurance

During the COVID-19 crisis, In Insurance sector, chat and videoconference replaced some of the traditional face-to-face interactions between clients and their intermediaries. And, while personal contact remains important.

While only 22% of Belgian brokerage offices is leveraging software or InsurTech applications to work more efficiently, a growing number of comparison websites is helping brokers develop an offering that better matches client needs.

Brokerage firms are becoming increasingly paperless, with two-thirds of them claiming to have already reached this goal.

Europe Online Insurance Market : Willingness to buy car insurance online in Belgium, Europe, 2018-2021

Rising Numbers of Insurtech Funding

In 2021, European insurtech funding reached an all-time high, with around EUR 2.5 billion invested through 92 deals.

The ecosystem is maturing so that the average deal size jumped from ~EUR 8 million in 2020 to EUR 28 million in 2021 That's also related to mega-rounds (tickets over EUR 100 million) announced across Europe. Most of them were disclosed in the first half of the year: Zego and BoughtByMany in the UK, Wefox in Germany, and Alan and Shift Technology in France. Only one happened in H2 2021: EnvelopRisk in the UK.

Europe Online Insurance Market :Top European Insurtech Deals of 2021

Europe Online Insurance Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)