Commercial P&C Insurance Core Platform Market

Commercial P&C Insurance Core Platform Market Overview

The global Commercial P&C Insurance Core Platform Market size was valued at USD XYZ billion in 2024 and is predicted to reach USD XYZ billion by 2030 with a CAGR of XYZ% from 2025-2030.

The rising investment by the companies in digitalizing their operations to manage data and improve customer interaction moves the market forward. However, the concerns about privacy and security limits the growth of the market. 

On the contrary, introduction of artificial intelligence and data analytics in core platform is anticipated to create future opportunity for the growth of the market. Moreover, the major players operating in the market are as Sapiens International Corporation N.V. and Insurity LLC among others who adopt various business strategies including partnership and product launch in order to enhance their market expansion and broaden their product offerings. 

With the advancement in technologies, the market is set for further revolution in the coming years and artificial intelligence will enhance the risk assessment and analyse large amount of data and allows insurance providers to design the policy as per the requirements.  

Growing Investment by Companies Towards Digitalization Worldwide Fuels the Commercial P&C Insurance Core Platform Market Growth

The growing investment by companies in digitalizing their operations is leading insurance firms to adopt advanced core platforms that can efficiently manage data, automate processes, and improve customer interactions. 

This transition helps insurers streamline their operations, reduce manual tasks, and provide faster, more personalized services. According to UN trade & development (UNCTAD), the cost for the digital transformation for the 48 developing economics was estimated to be USD 5.6 trillion annually from 2023 to 2030.

Increasing Number of Policy Sold Across the Globe Drives the Growth of the Market

Also, the increasing sales of insurance policies worldwide, including commercial insurance, that are attributed to the growing consciousness of people in protecting their commercial properties against natural disasters such as floods, hurricanes, and earthquakes. 

As per report of Insurance Information Institute, Inc., net premium written from commercial lines of insurance was recorded at USD 416.5 billion in 2023. This increase in policy adoption requires insurers to implement efficient platforms that handles higher volumes of policies, streamline claims management, and provide faster and more reliable services, fuelling the growth of the market.

Expansion in Urban Activities Fuels the Commercial P&C Insurance Core Platform Market Demand

Moreover, the expansion in urban activities such as retail, construction, and hospitality, increase the number of commercial properties and the requirement to safeguard these assets from various risks, including damage, theft, and liability claims. 

This surge in property development creates a higher demand for the market, as insurers need efficient systems to manage the escalating volume of policies and claims.

Data Breech Concern Hinders the Commercial P&C Insurance Core Platform Market Expansion

The concerns of data privacy and security limit the growth of the market as insurance companies adopt digital solutions, they face high risks which comes along with the storage and management of sensitive customer information.

Introduction of Artificial Intelligence and Data Analytics Cerates Future Opportunity for the Market

The introduction of artificial intelligence (AI) and data analytics in the core platform is anticipated to create future opportunity for the market. AI will enhance risk assessment and analyze large data sets that allows insurers to design policy offerings and pricing. Additionally, it brings along the claims processing through automation that leading to faster payouts and improved customer satisfaction.

Market Segmentations and Scope of the Study 

The commercial P&C insurance core platform market report is segmented into platform, solution, deployment, end-user, and region. On the basis of platform, the market is classified into policy management, billing, claims management, and others. On the basis of solution, the market is divided into intelligent core software, digital solution, analytics solution, risk & compliance solution, and others. On the basis of deployment, the market is bifurcated into cloud and on-premise. On the basis of end-user, the market is characterized into insurance companies and third-party administrators. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominates the commercial P&C insurance core platform market share and is expected to continue its dominance during the forecast period. This is attributed to the growing number of insurance policies sold in this region. 

As cited in a report by the National Association of Insurance Commissioners, about 95.75% of all property and casualty insurance companies in the U.S. reported direct premiums for all classes of business, accumulatively amounting to around USD 954.85 billion. This clearly shows the high demand for insurance coverage in North America. 

Moreover, the presence of huge number of P&C insurance companies in this region drives the demand for commercial P&C insurance core platform to efficiently manage their tasks and streamline operations such as policy administration, claims processing, and customer service. 

This need for greater efficiency and automation continues to fuel the adoption of advanced core platforms. For example, in the U.S. alone, there are around 3,700 property and casualty insurance providers that need agile systems to keep pace with data growth and do more efficiently. Rapidly changing complexity and scale of insurance industries provide the impetus for improved core platforms, which boost market growth.  

On the other hand, Asia-Pacific region shows a steady rise in commercial property and casualty insurance core platform industry during the forecast period due to the growing focus towards digitalization in this region. 

As per the report published by the Ministry of Commerce, the Government of China launched a comprehensive action plan to drive the digital transformation of its commercial sectors by 2026. This action plan highlights innovation, international cooperation, and initiatives to boost consumer spending in digital, green, and health-related sectors. 

The push toward digitalization encourages insurance companies to adopt advanced core platforms, enabling them to manage data more effectively and streamline operations, thereby contributing to the growth of the market in the region.

Moreover, the growing insurance sector in this region drives the demand for advanced technologies including commercial P&C insurance core platform to efficiently manage the robust data, stream line operations, and enhance customer service capabilities. 

Such advancements in platforms can help insurers upgrade their claims management, automate the policy administration, and provide tailored services, all of which accelerate the growth in the market region. 

According to Insurance Regulatory and Development Authority of India, IRDAI, in the next ten years, it is projected that India will rank as the world's sixth largest insurance market; more so ahead of countries such as Germany, Canada, Italy, and South Korea. At an estimated amount of USD 222 billion in 2026, this industry has been released by India Brand Equity Foundation (IBEF).

Competitive Landscape

Various key players operating in the commercial property and casualty insurance core platform industry includes Cognizant, Guidewire Software, Inc., Sapiens International Corporation N.V., EIS Software Limited, Salesforce, Inc., Insurity LLC, Majesco, Duck Creek Technologies, BriteCore, Insuresoft, and others. These market players are adopting various strategies such as partnership to remain dominant in the market.

For instance, in September 2024, it was announced that Sapiens International Corporation N.V. would partner with Addresscloud over a project integrating advanced geolocation capabilities into Sapiens' core platform aimed at improving how insurers assess risks in geographic terms.

Additionally, in August 2024, Insurity LLC launched its Spreadsheet API, designed to speed things up and increase efficiency in the development of insurance products. It converts complex spreadsheet logic into reusable APIs, enabling insurers to shorten product launch from several months to about 30 days while reducing average development costs by about 83%.

Moreover, in April 2023, Majesco launched Spring '23 Release to enhance its intelligent core suites for P&C, and L&AH insurance with features like integrated data analytics, AI-driven models, and easy to use reporting tools. This update is aimed at improving operational efficiencies for the carriers, who are empowered to use advanced technology and streamlined workflows for data-driven decision-making.

Key Benefits

• The report provides quantitative analysis and estimations of the commercial P&C insurance core platform industry from 2025 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the current and future commercial P&C insurance core platform market trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the market provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Commercial P&C Insurance Core Platform Market Key Segments

By Platform

• Policy Management

• Billing

• Claims Management

• Others

By Solution

• Intelligent Core Software

• Digital Solution

• Analytics Solution

• Risk & Compliance Solution

• Others

By Deployment

• Cloud

• On-Premise

By End-User

• Insurance Companies

• Third-Party Administrators

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific 

• RoW

  • Latin America

  • Middle East 

  • Africa

Key Players

• Cognizant

• Guidewire Software, Inc.

• Sapiens International Corporation N.V.

• EIS Software Limited

• Salesforce, Inc. 

• Insurity LLC.

• Majesco

• Duck Creek Technologies

• BriteCore

• Insuresoft

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2024	USD XYZ billion
Revenue Forecast in 2030	USD XYZ billion
Growth Rate	CAGR of XYZ% from 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2025–2030
Market Size Estimation	Billion (USD)
Growth Factors	The rising investment by companies for digitalization boosts the market growth. The growing number of insurance policies sold further fuels the growth of the market. The expansion in urban activities drives the growth of the market.
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.