Upcoming Trends in Global Insurance Market

Ever since the Pandemic hit, the Insurance industry is upgrading at a fast pace. The main focus hovers on pandemic rehab and customer experience by developing data-driven ecosystems and hyper-personalization models.

According to a Gartner research, the long-term spending for insurance is forecast to grow at a CAGR of 7.5% to $311.8 billion in 2025 driven by IT services and software growing at a CAGR of 9.2% and 12.3%, respectively. These increased investments in data, AI, and digital twin technologies resulted in the emergence of a new generation of business and intelligence in the insurance industry.

But there have been several obstacles that the insurance business has faced.

The challenges of the current or traditional insurance industry

Shortage of speed to deliver new services into the market: Because insurance businesses’ digital implementation timescales are lengthier, customers may feel their insurer is slow and unable to cater to their demands.

High IT run time expense before migrating to digitally improved systems: When trying to get rid of legacy systems and introduce new sales methods that are incompatible with their current legacy technology, becomes substantially more expensive and time-consuming.

Interpreting a considerable volume of client data: With the vast amount of data available for customers and employees in one system, there comes the challenge of ensuring the shared information is comprehensive and accurate. Any discrepancy in handling or interpretation of data may lead to the approval of the incorrect type of insurance claim, causing further delays for clients.

5 upcoming trends in insurance to look forward to:

Let’s take a look at how these insurance trends are transforming and automating core business procedures, improving claims processing, and providing better insurance products.

Low-code

Professionals and non-professionals alike can use modern low-code platforms to create software tailored to their organizations’ specific needs.

By replacing or lowering the need to write code with a graphical interface, low/no-code platforms democratize and speed up the software development process. Insurers may now deploy digital applications with little or no computer programming, allowing them to quickly react to changing conditions, thanks to the growth of low-code and no-code platforms.

Using low-code platforms, insurance companies can increase their operational efficiency by removing the unfavorable consequences of skill gaps among their staff.

Gartner estimated that low-code platforms will make up 65% of application development activity by 2024.

Some of the well-known Low-code platforms are Zoho Creator, Salesforce Lightning, Mendix, Appian, Microsoft PowerApps, and Google App Maker, which are making the code development process faster and reducing the complexity of the application development process.

Conversational AI

According to a Mantra Labs report, 64% of insurers plan to allow chatbots to do increasingly advanced customer-facing tasks in the next five years.

Many of these employee assistance queries may be automatically fielded and resolved by conversational AI platforms, minimizing the need for human engagement and saving enterprises significant time and money.

Insurance chatbots enabled by advanced conversational AI might deliver omnichannel, round-the-clock, and multilingual support, to name a few obvious advantages. They can also help you create one-of-a-kind, high-quality client experiences. Chatbots can also be used to detect and track fraud signs, informing the insurer as well as the customer.

Smart contracts: Blockchain technology in insurance

According to Verified Market Research, the Smart Contracts Market was worth USD 144.95 million in 2020 and is predicted to reach USD 770.52 million by 2028, growing at a CAGR of 24.55 percent from 2021 to 2028.

In the past, uncontested claims may take months to process, but thanks to Blockchain and smart contracts, insurers can now automate the execution of insurance products agreements without the use of mediators, making them more transparent and less manipulable. The insurer’s administrative costs are decreased when claim processing speeds up. As a result, companies may reduce rates, increasing market share.

Neither party can lose information regarding the arrangement. Both the insurer and the insured cannot lose since smart contracts are traceable and irrevocable.

There are several Blockchain use cases in insurance, which you can read here: https://www.mantralabsglobal.com/blog/blockchain-use-cases-in-insurance-industry/

Extended reality (XR) insurance technology

According to an Accenture study, 85% of insurance executives agree that it’s critical to use XR insurance technology to bridge the physical distance gap between personnel and customers.

Some insurers are employing XR technology to improve and enhance certain portions of their business, including training customer service representatives on how to communicate with customers and guide them through the purchasing process using virtual customers. To hunt for risks in constructions, underwriters utilize on-site pictures and other images to create XR simulations. Using augmented imagery, insurers may engage and connect with their consumers remotely.

National Roads and Motorists’ Association Insurance in Australia and Liberty Mutual Insurance in the United States are using AR and VR technologies for car crashes and breakdown simulations. Zurich Insurance is using the same technology to improve staff training, and AXA Insurance uses VR for advertising.

Drones and Robotic insurance technology

IMARC Group expects the market to reach US$ 43.4 Billion by 2027, exhibiting a CAGR of 12.56% from 2022 to 2027.

Drones and robotics are currently being used by many insurers in their risk management and claims management techniques. Drones are a low-cost way to collect data, conduct surveys, and design mitigation plans. The system allows for more proactive and predictive fraud detection and reaction.

Robotics are being employed in their claims management operations to help forecast the result of a claim and recommend the best strategy based on that prediction (for example, recommending an early settlement on cases where the data suggests a high potential for long-term litigation). Robotics may even aid in the detection of discrepancies between internal policy terms and those offered by brokers. When a policy is originally issued, this allows insurers to spot plans that may result in future losses.

According to a report by McKinsey, programmable, autonomous drones; autonomous farming equipment; and enhanced surgical robots will all be commercially viable in the next decade.

Reasons behind insurance tech trends’ massive adoption

The majority of human workers can be removed from warehouse operations with AI-enabled infrastructure, changing the nature and purpose of workers’ compensation coverage. Wearables and artificial intelligence (AI) are transforming the way insurers use data to produce predictive insights and inform a variety of interactions with policyholders by providing real-time feedback on the impact of physical activity on personal wellness.

Many insurers are still updating their technology stacks and are at the beginning of their digitalization journey, making them vulnerable to being surpassed by more agile competitors.

Conclusion

According to a PwC survey, 65% of insurance agencies believe that AI investments in customer experience (CX) have lived up to expectations. 49% believe that improvements in internal decision-making have likewise met expectations, and 45% say the same about innovation in products and services.

While these technologies possess great opportunities for insurers, many are struggling to adapt. In fact, 53% of carriers struggle to understand blockchain and its use cases, 43% have other insurance technology taking priority, and 38% are concerned with its data security.

All of this emphasizes the significance of modernizing business operations by investing in training and implementation methodologies. This not only speeds up digital transformation but also improves organizational change readiness.

Other technology trends such as Automated Underwriting, Machine Learning, Cloud Computing, Telematics, Predictive Analytics for Competitive Benchmarking and Modeling, Open APIs, Proactive Risk Management, Embedded Insurance, and Machine Vision are also being researched as well as utilized aggressively to find their applications in the insurance market.

As a result of the convergence of these technological trends, insurers will be able to cover individuals in a more dynamic and responsive manner.

The insurance industry thrives on relationships—but it can only scale through efficiency, precision, and timely distribution. While much of the digital transformation buzz has focused on customer-facing portals, the real transformation is happening in the field, where modern sales apps are quietly driving a smarter, faster, and more empowered agent network.

Let’s explore how mobile-first sales enablement platforms are reshaping insurance sales across prospecting, onboarding, servicing, renewals, and growth.

The Insurance Agent Needs More Than a CRM

Today’s insurance agent is not just a policy seller—they’re also a financial advisor, data gatherer, service representative, and the face of the brand. Yet many still rely on paper forms, disconnected tools, and manual processes.

That’s where intelligent sales apps come in—not just to digitize, but to optimize, personalize, and future-proof the entire agent journey.

Real-World Use Cases: What Smart Sales Apps Are Solving

Across the insurance value chain, sales agent apps have evolved into full-service platforms—streamlining operations, boosting conversions, and empowering agents in the field. These tools aren’t optional anymore, they’re critical to how modern insurers perform. Here’s how leading insurers are empowering their agents through technology:

1. Intelligent Prospecting & Lead Management

Sales apps now empower agents to:

Prioritize leads using filters like policy type, value, or geography
Schedule follow-ups with integrated agent calendars
Utilize locators to look for nearby branch offices or partner physicians
Register and service new leads directly from mobile devices

Agents spend significantly less time navigating through disjointed systems or chasing down information. With quick access to prioritized leads, appointment scheduling, and location tools—all in one app—they can focus more on meaningful customer interactions and closing sales, rather than administrative overhead.

2. Seamless Policy Servicing, Renewals & Claims

Sales apps centralize post-sale activities such as:

Tracking policy status, premium due date, and claims progress
Sending renewal reminders, greetings, and policy alerts in real-time
Accessing digital sales journeys and pre-filled forms.
Policy comparison, calculating premiums, and submitting documents digitally
Registering and monitoring customer complaints through the app itself

Customers receive a consistent and seamless experience across touchpoints—whether online, in-person, or via mobile. With digital forms, real-time policy updates, and instant access to servicing tools, agents can handle post-sale tasks like renewals and claims faster, without paperwork delays—leading to improved satisfaction and higher retention.

3. Remote Sales using Assisted Tools

Using smart tools, agents can:

Securely co-browse documents with customers through proposals
Share product visualizations in real time
Complete eKYC and onboarding remotely.

Agents can conduct secure, interactive consultations from anywhere—sharing proposals, visual aids, and completing eKYC remotely. This not only expands their reach to customers in digital-first or geographically dispersed markets, but also builds greater trust through real-time engagement, clear communication, and a personalized advisory experience—all without needing a physical presence.

4. Real-Time Training, Performance & Compliance Monitoring

Modern insurance apps provide:

On-demand access to training material
Commission dashboards and incentive monitoring
Performance reporting with actionable insights

Field agents gain access to real-time performance insights, training modules, and incentive tracking—directly within the app. This empowers them to upskill on the go, stay motivated through transparent goal-setting, and make informed decisions that align with overall business KPIs. The result is a more agile, knowledgeable, and performance-driven sales force.

5. End-to-End Sales Execution—Even Offline

Advanced insurance apps support:

Full application submission, from prospect to payment
Offline functionality in low-connectivity zones
Real-time needs analysis, quote generation, and e-signatures
Multi-login access with secure OTP-based authentication

Even in low-connectivity or remote Tier 2 and 3 markets, agents can operate at full capacity—thanks to offline capabilities, secure authentication, and end-to-end sales execution tools. This ensures uninterrupted productivity, faster policy issuance, and adherence to compliance standards, regardless of location or network availability.

6. AI-Powered Personalization for Health-Linked Products

Some forward-thinking insurers are combining AI with health platforms to:

Import real-time health data from fitness trackers or health apps
Offer hyper-personalized insurance suggestions based on lifestyle
Enable field agents to tailor recommendations with more context

By integrating real-time health data from fitness trackers and wellness apps, insurers can offer hyper-personalized, preventive insurance products tailored to individual lifestyles. This empowers agents to move beyond transactional selling—becoming trusted advisors who recommend coverage based on customers’ health habits, life stages, and future needs, ultimately deepening engagement and improving long-term retention.

The Mantra Labs Advantage: Turning Strategy into Scalable Execution

We help insurers go beyond surface-level digitization to build intelligent, mobile-first ecosystems that optimize agent efficiency and customer engagement—backed by real-world impact.

Seamless Sales Enablement for Travel Insurance

We partnered with a leading travel insurance provider to develop a high-performance agent workflow platform featuring:

Secure Logins: Instant credential-based access without sign-up friction
Real-Time Performance Dashboards: At-a-glance insights into daily/monthly targets, policy issuance, and collections
Frictionless Policy Issuance: Complete issuance post-payment and document verification
OCR Integration: Auto-filled customer details directly from passport scans, minimizing errors and speeding up onboarding

This mobile-first solution empowered agents to close policies faster with significantly reduced paperwork and data entry time—improving agent productivity by 2x and enabling sales at scale.

Engagement + Analytics Transformation for Health Insurance

For one of India’s leading health insurers, we helped implement a full-funnel engagement and analytics stack:

User Journey Intelligence: Replaced legacy systems to track granular app behavior—policy purchases, renewals, claims, discounts, and drop-offs. Enabled real-time behavioral segmentation and personalized push/email notifications.
Gamified Wellness with Fitness Tracking: Added gamified fitness engagement, with rewards based on step counts and interactive nutrition quizzes—driving repeat app visits and user loyalty.
Attribution Tracking: Trace the exact source of traffic—whether it’s a paid campaign, referral program, or organic source—adding a layer of precision to marketing ROI.
Analytics: Integrated analytics to identify user interest segments. This allowed for hyper-targeted email and in-app notifications that aligned perfectly with user intent, driving both relevance and response rates.

Whether you’re digitizing field sales, gamifying customer wellness, or fine-tuning your marketing engine, Mantra Labs brings the technology depth, insurance expertise, and user-first design to turn strategy into scalable execution.

If you’re ready to modernize your agent network – Get in touch with us to explore how we can build intelligent, mobile-first tools tailored to your distribution strategy. Just remember, the best sales apps aren’t just tools, they’re growth engines; and field sales success isn’t about more apps. It’s about the right workflows, in the right hands, at the right time.

Upcoming Trends in Global Insurance Market

The challenges of the current or traditional insurance industry