Insurance Industry & Insurtech Report — 2026-06-19
South Korean pharmaceutical and biotech firms are pushing into the U.S. market using AI and healthcare tech, while the government is strengthening policies to balance the secure use of health data with ecosystem growth. Globally, the digital insurance platform market is projected to surge from $173.3 billion in 2026 to $432.2 billion by 2035.
Insurance Industry & Insurtech Report — 2026-06-19
Domestic Insurance Industry Trends
1. New Medical Tech Reshapes Insurance Products
AI-based image analysis, gene therapy, and GLP-1 weight-loss medications are driving fundamental shifts in the insurance sector. According to analysis by the Korea Insurance Research Institute, medical innovation is impacting the structure and operation of insurance products across the board. The industry is currently seeing a reorganization of risk assessment standards and changes in insurance claim patterns due to the adoption of new technologies.
2. Government Unveils Health Data Utilization Roadmap
Minister of Health and Welfare Jung Eun-kyeong met with medical AI and digital health companies to discuss policies for utilizing health and medical data. She presented a firm government roadmap aimed at simultaneously achieving the "safe utilization" of sensitive information and the "fostering of an industrial ecosystem." This is expected to serve as the institutional foundation for data-driven innovation in the insurance sector.
3. K-Bio Accelerates U.S. Market Entry
South Korean pharmaceutical and biotech companies are preparing to head to San Diego, California, in the U.S. for a world-renowned biotech exhibition. It is expected to be an opportunity for domestic firms to demonstrate their competitiveness in the AI and healthcare sectors to the global market.
Global Insurtech and Healthcare Achievements
1. Rapid Growth of the Digital Insurance Platform Market
The digital insurance platform market is forecast to grow from $173.3 billion in 2026 to $432.2 billion by 2035. With a compound annual growth rate (CAGR) of 10.7%, this indicates that digital innovation in the insurance industry will accelerate over the next decade.
2. NTT DATA Analyzes Global Insurtech Status
According to the "Insurtech Global Outlook 2026" report by NTT DATA, the insurance industry has reached a structural inflection point due to losses from unpaid claims and an increase in claims for damages. These findings underscore the necessity of adopting insurtech and AI.
3. Expansion of the Healthcare Cybersecurity Market
The global healthcare cybersecurity market is projected to grow from approximately $19.4 billion in 2025 to about $64 billion by 2035. With a CAGR of 12.7%, the importance of security investment is rising alongside the spread of digital healthcare.
Market Insights and Analysis
Deepening Strategies for Combining Insurance and Healthcare
By mid-2026, the global insurance industry is clearly at a turning point. The emergence of new medical technologies and the spread of digital healthcare are fundamentally reshaping traditional insurance products and service models.
For the South Korean insurance industry, the full-scale implementation of the government's health and medical data utilization policy is laying the groundwork for data-driven innovation. AI-based image diagnostics, personalized healthcare solutions, and predictive insurance product design are becoming key factors in securing new competitiveness.
According to global market analysis, the growth of digital insurance platforms (10.7% CAGR) and increased investment in healthcare cybersecurity mean that insurers must strengthen customer experience and data security simultaneously. In particular, operational efficiency and advanced risk management are evolving in tandem due to the adoption of AI.
The global expansion of K-Bio and the South Korean government's policy support for digital healthcare are expected to provide the local insurance industry with opportunities to achieve international competitiveness.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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